GTCR Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, GTCR has acquired 23 companies. It has also invested in 3 others.

GTCR’s most common sectors for investment arehealthcare services (17%) and business services (12%) . The Firm’s most common investment types include secondary buyout (24%) and stake purchase (20%). In total, GTCR has invested in 31 US states and 5 different countries. Its largest (disclosed) acquisition occurred in 2024 when it acquired AssetMark Financial Holdings for $2.7B.

In the last 3 years, GTCR has exited 6 companies. The Firm’s most common exit type is trade sale (48%). GTCR’s largest (disclosed) exit occurred in 2020 when it sold Optimal Blue for $1.8B.

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M&A Summary

  • M&A Total Activity225
    • M&A Buy Activity141
    • M&A Sell Activity84
  • Total Sectors Invested 28
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 87
  • M&A Advisors 45

GTCR

GTCR, LLC

300 N. LaSalle Street, Suite 5600,
Chicago, Illinois 60654
United States
(312) 382-2200
www.gtcr.com
info@gtcr.com

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


Investment Criteria

Sectors of Interest: Aerospace, Business Services, Communications, Consumer Products, Consumer Services, Defense, Education, Electronics, Financial Services, Food, Healthcare Services, Information Technology, Insurance, Leisure, Life Science, Marketing, Media, Medical Products, Safety/Security, Software, Technology Hardware, Transportation, Utilities

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

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (6.0/yr) # 111 5 8 8 6 3 141
vol $7.9B $180M $4.0B $12.1B
Sell (2.4/yr) # 72 6 4 - 1 1 84
vol $23.0B $1.8B $1.1B $26.0B
  225

Most Recent M&A

Company Date Value Type
MG LLC 2024-10-01 632M USD Divestiture
Fort Lee, New Jersey · www.letstranzact.com
SurModics, Inc. 2024-05-29 627M USD Going Private
Eden Prairie, Minnesota · www.surmodics.com
AssetMark Financial Holdings, Inc. 2024-04-25 2.7B USD Going Private
Concord, California · www.assetmark.com
RevSpring, Inc. 2024-03-12 - Secondary Sale
Nashville, Tennessee · www.revspringinc.com
Cloudbreak Health LLC 2023-11-16 180M USD Divestiture
Columbus, Ohio · www.cloudbreak.us
Foundation Source Philanthropic Services, Inc. 2023-09-13 - Secondary Buyout
Fairfield, Connecticut · www.foundationsource.com
EaglePicher Technologies LLC 2023-09-05 - Trade Sale
Joplin, Missouri · www.eaglepicher.com
ADT Commercial LLC 2023-08-08 - Divestiture
Irving, Texas · www.everonsolutions.com
Once For All 2023-07-24 - Secondary Buyout
Paris, France · www.onceforall.com
Worldpay, Inc. 2023-07-06 - Divestiture
Jacksonville, Florida · www.worldpay.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
TerSera Therapeutics LLC 2016-02-04 MARGENZA 2024-10-22 2
Lake Forest, Illinois · www.tersera.com Rockville, Maryland · www.celestial.ai
Park Place Technologies, Inc. 2015-11-30 Unitech - Multivendor Maintenance Services 2024-04-30 21
Cleveland, Ohio · www.parkplacetechnologies.com , Brazil
Once For All 2023-07-24 Nalanda Global SA 2024-04-04 1
Paris, France · www.onceforall.com Madrid, Spain · www.nalandaglobal.com
Curia Global, Inc. 2017-06-06 Whitehouse Analytical Laboratories 2024-03-14 3
Albany, New York · www.curiaglobal.com Lebanon, New Jersey · www.whitehouselabs.com
Park Place Technologies, Inc. 2015-11-30 NorthSmart Third Party Maintenance Services 2024-01-23 20
Cleveland, Ohio · www.parkplacetechnologies.com Atlanta, Georgia
Resonetics LLC 2018-02-01 Tru Tech Systems, Inc. 2023-09-01 1
Nashua, New Hampshire · www.resonetics.com Mt. Clemens, Michigan · www.trutechsystems.com
Outcomes Operating, Inc. 2021-05-17 Outcomes Medication Therapy Management 2023-07-10 2
Orlando, Florida · www.outcomes.com West Des Moines, Iowa · www.outcomesmtm.com
PC Dreamscape Opco, Inc. 2020-05-12 Mediaocean - Lumina 2023-06-12 3
New York, New York · www.guideline.ai New York, New York
Simplifi Holdings, Inc. 2017-08-31 Bidtellect, Inc. 2023-02-28 3
Fort Worth, Texas · www.simpli.fi Delray Beach, Florida · www.bidtellect.com
PPC Flexible Packaging 2021-10-01 StePac L.A. Ltd. 2023-02-01 1
Buffalo Grove, Illinois · www.ppcflex.com Tefen, Israel · www.stepac.com

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 5 (11%) 180M (3%) 23 (16%) 855M (7%)
Business Services 3 (7%) - 16 (11%) -
Information Technology 3 (7%) - 14 (10%) 500M (4%)
Communications 6 (13%) - 13 (9%) 800M (7%)
Financial Services 4 (9%) 2.7B (52%) 11 (8%) 4.6B (38%)
Software 5 (11%) 1.1B (21%) 10 (7%) 1.5B (12%)
Life Science 4 (9%) - 9 (6%) -
Insurance 2 (4%) - 6 (4%) 1.0B (8%)
Medical Products 3 (7%) 627M (12%) 5 (4%) 627M (5%)
Internet Software and Services - - 5 (4%) -
Safety/Security 1 (2%) - 4 (3%) 828M (7%)
Marketing 2 (4%) 632M (12%) 3 (2%) 632M (5%)
Information Services 1 (2%) - 3 (2%) -
Test/Measurement Equipment 1 (2%) - 2 (1%) 480M (4%)
Aerospace 1 (2%) - 2 (1%) -
Chemicals 2 (4%) - 2 (1%) -
Consumer Services 1 (2%) - 2 (1%) -
Media - - 2 (1%) -
Utilities - - 1 (1%) 205M (2%)
Transportation - - 1 (1%) 38M (< 1%)
Consumer Products - - 1 (1%) -
Defense - - 1 (1%) -
Distribution - - 1 (1%) -
Electrical Equipment - - 1 (1%) -
Environmental - - 1 (1%) -
Food - - 1 (1%) -
Machinery - - 1 (1%) -
Packaging 1 (2%) - 1 (1%) -
Total 45 $5.2B 142 $12.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 44 (98%) 5.2B (100%) 137 (96%) 9.7B (80%)
  Illinois 8 (18%) - 20 (14%) 2.3B (19%)
  Florida 5 (11%) - 13 (9%) -
  New York 4 (9%) - 12 (8%) -
  California 3 (7%) 2.7B (52%) 11 (8%) 3.2B (27%)
  Texas 3 (7%) - 9 (6%) -
  Tennessee 2 (4%) - 9 (6%) -
  Georgia 3 (7%) 1.1B (21%) 8 (6%) 1.6B (13%)
  Ohio 3 (7%) 180M (3%) 6 (4%) 855M (7%)
  North Carolina 2 (4%) - 5 (4%) 38M (< 1%)
  Maryland - - 5 (4%) -
  Colorado 1 (2%) - 4 (3%) -
  Connecticut 2 (4%) - 3 (2%) -
  New Jersey 1 (2%) 632M (12%) 3 (2%) 632M (5%)
  Pennsylvania 1 (2%) - 3 (2%) -
  Missouri 1 (2%) - 3 (2%) -
  Virginia - - 3 (2%) -
  Minnesota 1 (2%) 627M (12%) 2 (1%) 627M (5%)
  New Hampshire 1 (2%) - 2 (1%) 390M (3%)
  Oregon 1 (2%) - 2 (1%) -
  Wisconsin - - 2 (1%) -
  Kentucky - - 2 (1%) -
  Wyoming 1 (2%) - 1 (1%) -
  Washington 1 (2%) - 1 (1%) -
  Alabama - - 1 (1%) -
  Utah - - 1 (1%) -
  Oklahoma - - 1 (1%) -
  Nevada - - 1 (1%) -
  Nebraska - - 1 (1%) -
  Massachusetts - - 1 (1%) -
  Kansas - - 1 (1%) -
  Delaware - - 1 (1%) -
United Kingdom - - 2 (1%) 1.4B (11%)
France 1 (2%) - 1 (1%) -
Bermuda - - 1 (1%) 1.0B (8%)
Canada - - 1 (1%) -
  Alberta - - 1 (1%) -
Domestic 44 (98%) 5.2B (100%) 137 (96%) 9.7B (80%)
Cross-border 1 (2%) - 5 (4%) 2.4B (20%)
Total 45 $5.2B 142 $12.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 15 (33%) - 33 (23%) 1.2B (10%)
Stake Purchase 2 (4%) - 27 (19%) -
Buyout (LBO, MBO, MBI) 3 (7%) - 26 (18%) 1.2B (10%)
Consolidation 10 (22%) - 16 (11%) -
Divestiture 4 (9%) 812M (16%) 12 (8%) 3.0B (25%)
Growth Capital 4 (9%) - 10 (7%) -
Going Private 4 (9%) 4.4B (84%) 8 (6%) 6.4B (53%)
Recapitalization 2 (4%) - 6 (4%) -
PIPE - - 2 (1%) 200M (2%)
Joint Venture 1 (2%) - 1 (1%) -
Venture - - 1 (1%) -
Total 45 $5.2B 142 $12.1B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 27 (32%) 15.8B (65%)
Secondary Sale 20 (24%) 3.9B (16%)
Trade Sale 14 (17%) 4.6B (19%)
IPO 13 (15%) -
Merger 4 (5%) -
Unknown 3 (4%) -
Bankruptcy 2 (2%) -
Stake Sale 1 (1%) -
Total 84 $24.3B

Top M&A Advisors

Financial Deals
Jefferies
 6
Barclays Investment Bank
 5
Credit Suisse Investment Banking
 4
Legal Deals
Kirkland & Ellis
 46
Latham & Watkins
 13
Skadden, Arps, Slate, Meagher & Flom
 2

Deal Values

buy # Total
> $1B 4 $6.2B
$100M to $1B 12 $5.8B
< $100M 1 $38M
TOTAL $12.1B
Largest AssetMark Financial Holdings, Inc.
$2.7B (2024-04-25)
sell # Total
> $1B 10 $13.8B
$100M to $1B 22 $12.2B
TOTAL $26.0B
Largest Optimal Blue LLC
$1.8B (2020-07-27)

M&A Connections

Deals
Acquired from
Investor(s)
25%
35 (25%)
Strategic(s)
7%
10 (7%)
Exited to
Investor(s)
25%
21 (25%)
Strategic(s)
54%
45 (54%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

15.0B USD

Established

1980

Specialist/Generalist

Generalist

Leadership

Collin Roche

Co-CEO & Managing Director

Constantine Mihas

Co-CEO & Managing Director

Peg Sullivan

Chief Human Resources Officer

Joe Rubino

Chief Information Security Officer & Managing Director

Mark Anderson

Head of the Technology, Media & Telecommunications

FAQ

When was GTCR founded?

GTCR was founded in 1980.

What type of investor is GTCR?

GTCR is a private equity firm.

Where is GTCR headquartered?

GTCR is headquartered in Chicago, Illinois.

How much capital does GTCR have under management?

GTCR has 15.0B USD under management.

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