Great Hill Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Great Hill Partners has acquired 15 companies. It has also invested in 6 others.

Great Hill Partners’ most common sectors for investment areinternet software and services (34%) and business services (10%) . The Firm’s most common investment types include growth capital (33%) and buyout (lbo, mbo, mbi) (28%). In total, Great Hill Partners has invested in 20 US states and 7 different countries. Its largest (disclosed) acquisition occurred in 2017 when it acquired Zoom Information for $240M.

In the last 3 years, Great Hill Partners has exited 20 companies. The Firm’s most common exit type is trade sale (63%). Great Hill Partners’ largest (disclosed) exit occurred in 2018 when it sold Ascenty for $1.8B.

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M&A Summary

  • M&A Total Activity140
    • M&A Buy Activity87
    • M&A Sell Activity53
  • Total Sectors Invested 21
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 61
  • M&A Advisors 18

Great Hill Partners

200 Clarendon St., 29th Floor,
Boston, Massachusetts 02116
United States
(617) 790-9400
www.greathillpartners.com
info@greathillpartners.com

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1993 and is based in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Business Services, Communications, Consumer Products, Consumer Services, Digital Media, E-Commerce, Education, Financial Services, Healthcare Services, Information Technology, Internet Software and Services, Media, Medical Products, Retail, Safety/Security, Software, Staffing, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, PIPE, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 25 500
Enterprise Value - 1,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (5.6/yr) # 59 7 6 9 2 4 87
vol $898M $240M $96M $150M $1.4B
Sell (4.4/yr) # 31 2 6 8 3 3 53
vol $6.9B $550M $1.8B $1.5B $500M $11.2B
  140

Most Recent M&A

Company Date Value Type
MineralTree, Inc. 2021-09-08 500M USD Add-on Acquisition
Waltham, Massachusetts · www.mineraltree.com
Labor First LLC 2021-07-29 - Recapitalization
Mount Laurel, New Jersey · www.laborfirst.com
PartsSource, Inc. 2021-07-20 - Secondary Buyout
Aurora, Ohio · www.partssource.com
Auvik Networks, Inc. 2021-07-15 - Growth Capital
Waterloo, Ontario · www.auvik.com
Reward Gateway Ltd. 2021-05-04 - Secondary Buyout
London, United Kingdom · www.rewardgateway.com
Jumio, Inc. 2021-03-23 150M USD Secondary Buyout
Palo Alto, California · www.jumio.com
Notonthehighstreet Enterprises Ltd. 2021-02-09 - Buyout (LBO, MBO, MBI)
Surrey, United Kingdom · www.notonthehighstreet.com
YogaWorks, Inc. 2020-10-14 - Bankruptcy
Culver City, California · www.yogaworks.com
Reflexis Systems, Inc. 2020-07-28 - Add-on Acquisition
Dedham, Massachusetts · www.reflexisinc.com
Footage Firm, Inc. 2020-06-25 - Secondary Buyout
Arlington, Virginia · www.storyblocks.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Vanco Payment Solutions, Inc. 2012-02-10 SmartcareOS LLC 2021-01-13 4
Atlanta, Georgia · www.vancopayments.com Las Vegas, Nevada · www.smartcare.com
Vatica Health, Inc. 2018-04-03 CareSync - Technology Division 2019-01-07 1
Nashville, Tennessee · www.vaticahealth.com Tampa, Florida
Vanco Payment Solutions, Inc. 2012-02-10 Dorian Business Systems, Inc. 2018-12-01 3
Atlanta, Georgia · www.vancopayments.com Garland, Texas · www.charmsoffice.com
Vanco Payment Solutions, Inc. 2012-02-10 Connexeo, Inc. 2018-10-17 2
Atlanta, Georgia · www.vancopayments.com Bloomington, Minnesota · www.connexeo.com
Network Merchants, Inc. 2017-09-07 CreditCall Ltd. 2018-02-20 2
Roselle, Illinois · www.nmi.com Bristol, United Kingdom · www.creditcall.com

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 12 (41%) 361M (82%) 29 (33%) 688M (50%)
Business Services 3 (10%) - 8 (9%) -
Information Technology 4 (14%) - 8 (9%) -
Software 2 (7%) - 7 (8%) -
E-Commerce 2 (7%) - 5 (6%) -
Media - - 4 (5%) 75M (5%)
Communications - - 4 (5%) 23M (2%)
Healthcare Services 1 (3%) - 3 (3%) 232M (17%)
Financial Services 1 (3%) 80M (18%) 3 (3%) 80M (6%)
Digital Media 2 (7%) - 3 (3%) -
Information Services 1 (3%) - 2 (2%) 240M (17%)
Education - - 2 (2%) -
Consumer Services - - 1 (1%) 45M (3%)
Apparel/Textiles 1 (3%) - 1 (1%) -
Consumer Products - - 1 (1%) -
Marketing - - 1 (1%) -
Medical Products - - 1 (1%) -
Retail - - 1 (1%) -
Safety/Security - - 1 (1%) -
Staffing - - 1 (1%) -
Transportation - - 1 (1%) -
Total 29 $441M 87 $1.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 22 (76%) 345M (78%) 73 (84%) 1.1B (77%)
  California 4 (14%) 150M (34%) 12 (14%) 195M (14%)
  Massachusetts 4 (14%) 115M (26%) 10 (11%) 355M (26%)
  Florida 1 (3%) - 7 (8%) -
  New York 3 (10%) - 5 (6%) 75M (5%)
  Pennsylvania 2 (7%) - 5 (6%) -
  Georgia 1 (3%) 80M (18%) 4 (5%) 80M (6%)
  Illinois 1 (3%) - 4 (5%) 23M (2%)
  Texas - - 4 (5%) 112M (8%)
  Tennessee 1 (3%) - 3 (3%) 232M (17%)
  Arizona - - 3 (3%) -
  Utah - - 3 (3%) -
  Virginia 2 (7%) - 2 (2%) -
  Ohio 1 (3%) - 2 (2%) -
  New Jersey 1 (3%) - 2 (2%) -
  Minnesota - - 2 (2%) -
  Alabama 1 (3%) - 1 (1%) -
  Colorado - - 1 (1%) -
  Wisconsin - - 1 (1%) -
  Oklahoma - - 1 (1%) -
  Missouri - - 1 (1%) -
Canada 3 (10%) 96M (22%) 4 (5%) 96M (7%)
  Ontario 3 (10%) 96M (22%) 3 (3%) 96M (7%)
  British Columbia - - 1 (1%) -
United Kingdom 2 (7%) - 4 (5%) 216M (16%)
Brazil - - 3 (3%) -
Spain 1 (3%) - 1 (1%) -
Denmark 1 (3%) - 1 (1%) -
Germany - - 1 (1%) -
Domestic 22 (76%) 345M (78%) 73 (84%) 1.1B (77%)
Cross-border 7 (24%) 96M (22%) 14 (16%) 311M (23%)
Total 29 $441M 87 $1.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 8 (28%) - 28 (32%) -
Buyout (LBO, MBO, MBI) 3 (10%) 176M (40%) 24 (28%) 536M (39%)
Secondary Buyout 7 (24%) 265M (60%) 13 (15%) 825M (60%)
Recapitalization 8 (28%) - 13 (15%) -
Stake Purchase - - 3 (3%) 23M (2%)
Venture 1 (3%) - 3 (3%) -
Divestiture 2 (7%) - 2 (2%) -
Going Private - - 1 (1%) -
Total 29 $441M 87 $1.4B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 23 (43%) 8.8B (84%)
Trade Sale 11 (21%) 500M (5%)
Secondary Sale 9 (17%) 225M (2%)
Merger 3 (6%) 1.0B (9%)
Bankruptcy 3 (6%) -
IPO 3 (6%) -
Stake Sale 1 (2%) -
Total 53 $10.5B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
2
Triple Tree LLC
1
Citigroup Investment Banking
1
Legal Deals
Goodwin Procter LLP
7
Choate Hall & Stewart LLP
3
Sidley Austin LLP
3

Deal Values

buy # Total
$100M to $1B 6 $1.1B
< $100M 5 $319M
TOTAL $1.4B
Largest Zoom Information, Inc.
$240M (2017-08-14)
sell # Total
> $1B 2 $2.8B
$100M to $1B 20 $8.4B
TOTAL $11.2B
Largest Ascenty Ltda.
$1.8B (2018-09-24)

M&A Connections

Deals
Acquired from
Investor(s)
16%
14 (16%)
Strategic(s)
2%
2 (2%)
Exited to
Investor(s)
19%
10 (19%)
Strategic(s)
68%
36 (68%)

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