Great Hill Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Great Hill Partners has acquired 14 companies. It has also invested in 7 others.

Great Hill Partners’ most common sectors for investment are internet software and services (27%) and software (14%). The Firm’s most common investment types include growth capital (32%) and buyout (lbo, mbo, mbi) (30%). In total, Great Hill Partners has invested in 20 US states and 6 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 14 companies. The Firm’s most common exit type is trade sale (71%). 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 Activity122
    • M&A Buy Activity78
    • M&A Sell Activity44
  • Total Sectors Invested 22
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 57
  • M&A Advisors 13

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 LLC is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies with and enterprise value of $25 to $500 million. 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 $200 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners LLC 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), Growth Capital, Recapitalization, PIPE, Secondary Buyout, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 25 200
Enterprise Value 25 500
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (4.4/yr) # 56 2 7 5 6 2 78
vol $900M $240M $96M $1.2B
Sell (3.0/yr) # 29 1 2 4 7 1 44
vol $6.9B $550M $1.8B $1.5B $10.7B
  122

Most Recent M&A

Company Date Value Type
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
1 One, Inc. 2020-02-26 - Secondary Buyout
Folsom, California · www.oneincsystems.com
VersaPay Corp. 2019-12-13 96M CAD Buyout (LBO, MBO, MBI)
Toronto, Ontario · www.versapay.com
Varicent 2019-11-25 - Divestiture
Toronto, Ontario · www.varicent.com
Qualifacts Systems, Inc. 2019-09-20 - Secondary Buyout
Nashville, Tennessee · www.qualifacts.com
Pareto Captive Services LLC 2019-09-04 - Recapitalization
Philadelphia, Pennsylvania · www.paretocaptive.com
The RealReal, Inc. 2019-06-28 - PIPE
San Francisco, California · www.therealreal.com
Symmetry Corp. 2019-06-26 - Add-on Acquisition
Brookfield, Wisconsin · www.symmetrycorp.com
EnterpriseDB Corp. 2019-06-26 - Secondary Buyout
Bedford, Massachusetts · www.enterprisedb.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
EnterpriseDB Corp. 2019-06-26 2ndQuadrant Ltd. 2020-09-30 1
Bedford, Massachusetts · www.enterprisedb.com Oxford, United Kingdom · www.2ndquadrant.com
1 One, Inc. 2020-02-26 Invenger Technologies, Inc. 2020-08-05 1
Folsom, California · www.oneincsystems.com Simi Valley, California · www.invenger.com
Varicent 2019-11-25 Symon AI 2020-01-21 1
Toronto, Ontario · www.varicent.com , Ontario · www.symon.ai
BlueSnap, Inc. 2011-08-08 Armatic Technologies, Inc. 2019-10-28 1
Waltham, Massachusetts · home.bluesnap.com Irvine, California · www.armatic.com
Vatica Health, Inc. 2018-04-03 CareSync - Technology Division 2019-01-07 1
Nashville, Tennessee · www.vaticahealth.com Tampa, Florida
Ikon Science Ltd. 2018-10-16 Perigon Solutions Ltd. 2018-12-18 1
Teddington, United Kingdom · www.ikonscience.com Houston, Texas · www.perigonsolutions.com
Reward Gateway Ltd. 2015-07-29 Brand Integrity 2018-07-17 3
London, United Kingdom · www.rewardgateway.com Rochester, New York · www.brandintegrity.com
YogaWorks, Inc. 2014-07-18 Prana Power Yoga 2018-05-02 3
Santa Monica, California · www.yogaworks.com Cambridge, Massachusetts · www.pranapoweryoga.com
Network Merchants, Inc. 2017-09-07 CreditCall Ltd. 2018-02-20 1
Roselle, Illinois · www.nmi.com Bristol, United Kingdom · www.creditcall.com
YogaWorks, Inc. 2014-07-18 Infinity Yoga 2017-11-14 2
Santa Monica, California · www.yogaworks.com Dunwoody, Georgia · www.infinityyogaatlanta.com

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 8 (27%) 333M (60%) 21 (27%) 445M (36%)
Software 8 (27%) 96M (17%) 11 (14%) 96M (8%)
Information Technology 4 (13%) - 8 (10%) -
Business Services 1 (3%) - 6 (8%) -
Media 1 (3%) - 5 (6%) 75M (6%)
Communications - - 4 (5%) 23M (2%)
E-Commerce 1 (3%) - 4 (5%) -
Healthcare Services 1 (3%) - 3 (4%) 232M (19%)
Financial Services 1 (3%) 80M (14%) 3 (4%) 80M (6%)
Education - - 2 (3%) -
Information Services - - 1 (1%) 240M (19%)
Consumer Services 1 (3%) 45M (8%) 1 (1%) 45M (4%)
Consumer Products 1 (3%) - 1 (1%) -
Digital Media - - 1 (1%) -
Life Science 1 (3%) - 1 (1%) -
Marketing - - 1 (1%) -
Medical Products - - 1 (1%) -
Publishing 1 (3%) - 1 (1%) -
Retail - - 1 (1%) -
Safety/Security - - 1 (1%) -
Staffing 1 (3%) - 1 (1%) -
Transportation - - 1 (1%) -
Total 30 $554M 79 $1.2B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 25 (83%) 240M (43%) 68 (86%) 922M (75%)
  California 6 (20%) 45M (8%) 12 (15%) 45M (4%)
  Massachusetts 4 (13%) 115M (21%) 9 (11%) 355M (29%)
  Florida - - 6 (8%) -
  Pennsylvania 2 (7%) - 5 (6%) -
  Texas 2 (7%) - 4 (5%) 112M (9%)
  New York 2 (7%) - 4 (5%) 75M (6%)
  Georgia 1 (3%) 80M (14%) 4 (5%) 80M (6%)
  Illinois 1 (3%) - 4 (5%) 23M (2%)
  Tennessee 1 (3%) - 3 (4%) 232M (19%)
  Arizona 1 (3%) - 3 (4%) -
  Utah - - 3 (4%) -
  Ohio 2 (7%) - 2 (3%) -
  Minnesota 1 (3%) - 2 (3%) -
  Virginia 1 (3%) - 1 (1%) -
  Alabama 1 (3%) - 1 (1%) -
  Wisconsin - - 1 (1%) -
  Oklahoma - - 1 (1%) -
  New Jersey - - 1 (1%) -
  Missouri - - 1 (1%) -
  Colorado - - 1 (1%) -
United Kingdom 2 (7%) 218M (39%) 3 (4%) 218M (18%)
Canada 2 (7%) 96M (17%) 3 (4%) 96M (8%)
  Ontario 2 (7%) 96M (17%) 2 (3%) 96M (8%)
  British Columbia - - 1 (1%) -
Brazil - - 3 (4%) -
Spain 1 (3%) - 1 (1%) -
Germany - - 1 (1%) -
Domestic 25 (83%) 240M (43%) 68 (86%) 922M (75%)
Cross-border 5 (17%) 314M (57%) 11 (14%) 314M (25%)
Total 30 $554M 79 $1.2B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 8 (27%) - 25 (32%) -
Buyout (LBO, MBO, MBI) 5 (17%) 221M (40%) 23 (29%) 536M (43%)
Secondary Buyout 8 (27%) 333M (60%) 12 (15%) 677M (55%)
Recapitalization 5 (17%) - 10 (13%) -
Stake Purchase - - 3 (4%) 23M (2%)
Divestiture 2 (7%) - 2 (3%) -
Venture 1 (3%) - 2 (3%) -
Going Private - - 1 (1%) -
PIPE 1 (3%) - 1 (1%) -
Total 30 $554M 79 $1.2B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 22 (50%) 8.3B (83%)
Trade Sale 9 (20%) 500M (5%)
Secondary Sale 7 (16%) 225M (2%)
IPO 3 (7%) -
Merger 2 (5%) 1.0B (10%)
Bankruptcy 1 (2%) -
Total 44 $10.0B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
1
William Blair & Co. LLC
1
LUMA Partners LLC
1
Legal Deals
Goodwin Procter LLP
5
Sidley Austin LLP
3
Kirkland & Ellis LLP
2

Deal Values

buy # Total
$100M to $1B 5 $917M
< $100M 5 $319M
TOTAL $1.2B
Largest Zoom Information, Inc.
$240M (2017-08-14)
sell # Total
> $1B 2 $2.8B
$100M to $1B 19 $7.9B
TOTAL $10.7B
Largest Ascenty Ltda.
$1.8B (2018-09-24)

M&A Connections

Deals %
Acquired from
PE Firm(s)
91%
21 91%
Strategic(s)
9%
2 9%
Exited to
PE Firm(s)
21%
9 21%
Strategic(s)
79%
33 79%

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