GTCR Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, GTCR has acquired 14 companies. It has also invested in 1 other.

GTCR’s most common sectors for investment are healthcare services (17%) and business services (12%). The Firm’s most common investment types include stake purchase (25%) and buyout (lbo, mbo, mbi) (22%). In total, GTCR has invested in 30 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2012 when it acquired Premium Credit Finance for $1.4B.

In the last 3 years, GTCR has exited 18 companies. The Firm’s most common exit type is trade sale (52%). 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 Activity188
    • M&A Buy Activity112
    • M&A Sell Activity76
  • Total Sectors Invested 28
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 76
  • M&A Advisors 34

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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (4.8/yr) # 88 9 7 3 3 2 112
vol $5.2B $1.3B $311M $1.1B $7.9B
Sell (4.0/yr) # 56 2 6 7 1 4 76
vol $17.9B $1.6B $3.7B $1.8B $25.0B
  188

Most Recent M&A

Company Date Value Type
Paya, Inc. 2020-08-03 - IPO
Dunwoody, Georgia · www.paya.com
Optimal Blue LLC 2020-07-27 1.8B USD Add-on Acquisition
Plano, Texas · www2.optimalblue.com
CapFinancial Partners LLC 2020-06-02 - Stake Purchase
Raleigh, North Carolina · www.captrust.com
Dreamscape, Inc. 2020-05-12 - Consolidation
Salt Lake City, Utah
XIFIN, Inc. 2020-02-01 - Unknown
San Diego, California · www.xifin.com
Lytx, Inc. 2020-01-08 - Stake Purchase
Milton Keynes, United Kingdom · www.lytx.com
Cole-Parmer Instrument Company, Inc. 2019-09-26 - Recapitalization
Vernon Hills, Illinois · www.coleparmer.com
Corza Health, Inc. 2019-03-20 - Consolidation
San Diego, California · www.corzahealth.com
Opus Global Holdings LLC 2019-03-01 - Unknown
Palo Alto, California · www.opusglobal.com
AssuredPartners, Inc. 2019-02-21 - Secondary Buyout
Lake Mary, Florida · www.assuredpartners.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
AssuredPartners, Inc. 2019-02-21 People's United Insurance Agency, Inc. 2020-09-22 50
Lake Mary, Florida · www.assuredpartners.com Hartford, Connecticut
AssuredPartners, Inc. 2019-02-21 Red Insure Ltd. 2020-09-21 49
Lake Mary, Florida · www.assuredpartners.com Chester, United Kingdom · www.redinsureltd.com
AssuredPartners, Inc. 2019-02-21 Everest Risk Management Ltd. 2020-09-21 48
Lake Mary, Florida · www.assuredpartners.com Chester, United Kingdom
Corza Health, Inc. 2019-03-20 Takeda Pharmaceutical Co.,Ltd. - TachoSil 2020-09-16 1
San Diego, California · www.corzahealth.com Osaka, Japan
AssuredPartners, Inc. 2019-02-21 Mainstreet Financial Services, Inc. 2020-08-24 47
Lake Mary, Florida · www.assuredpartners.com Seattle, Washington · www.mainstreetfinancialservices.com
AssuredPartners, Inc. 2019-02-21 Dohn & Maher Associates 2020-08-20 46
Lake Mary, Florida · www.assuredpartners.com Palatine, Illinois · www.dohn.com
AssuredPartners, Inc. 2019-02-21 Hatter, Williams & Purdy Insurance Marketing, Inc. 2020-08-18 45
Lake Mary, Florida · www.assuredpartners.com Carlsbad, California · www.hwpinsurance.com
AssuredPartners, Inc. 2019-02-21 Wilson Paves & Associates Insurance Agency, Inc. 2020-08-13 44
Lake Mary, Florida · www.assuredpartners.com Bakersfield, California · www.wilsonpaves.com
Sotera Health LLC 2011-03-23 Iotron Industries Canada, Inc. 2020-08-03 9
Broadview Heights, Ohio · www.soterahealth.com Port Coquitlam, British Columbia · www.iotron.com
TerSera Therapeutics LLC 2016-02-04 Lexicon Pharmaceuticals, Inc. - XERMELO 2020-07-30 1
Lake Forest, Illinois · www.tersera.com The Woodlands, Texas · www.xermelo.com

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 3 (13%) 675M (26%) 18 (16%) 675M (9%)
Information Technology 4 (17%) - 13 (12%) 500M (6%)
Business Services 1 (4%) - 13 (12%) -
Financial Services 1 (4%) - 9 (8%) 1.9B (24%)
Communications 2 (9%) 800M (31%) 9 (8%) 800M (10%)
Life Science 3 (13%) - 7 (6%) -
Software 2 (9%) 1.1B (43%) 6 (5%) 1.5B (19%)
Insurance 1 (4%) - 4 (4%) 1.0B (13%)
Internet Software and Services - - 4 (4%) -
Medical Products 1 (4%) - 4 (4%) -
Safety/Security - - 3 (3%) 828M (10%)
Test/Measurement Equipment 1 (4%) - 2 (2%) 480M (6%)
Consumer Services 1 (4%) - 2 (2%) -
Information Services - - 2 (2%) -
Marketing 1 (4%) - 2 (2%) -
Media - - 2 (2%) -
Utilities - - 1 (1%) 205M (3%)
Transportation - - 1 (1%) 38M (< 1%)
Aerospace - - 1 (1%) -
Chemicals 1 (4%) - 1 (1%) -
Consumer Products - - 1 (1%) -
Defense - - 1 (1%) -
Distribution - - 1 (1%) -
Electrical Equipment 1 (4%) - 1 (1%) -
Environmental - - 1 (1%) -
Food - - 1 (1%) -
Machinery - - 1 (1%) -
Real Estate - - 1 (1%) -
Total 23 $2.6B 112 $7.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 23 (100%) 2.6B (100%) 107 (96%) 5.0B (64%)
  Illinois 6 (26%) 800M (31%) 15 (13%) 1.5B (19%)
  New York 2 (9%) 1.1B (43%) 10 (9%) 1.1B (14%)
  Florida 3 (13%) - 9 (8%) -
  California 2 (9%) - 8 (7%) -
  Texas 1 (4%) - 6 (5%) -
  Tennessee - - 6 (5%) -
  Ohio 3 (13%) 675M (26%) 5 (4%) 675M (9%)
  Georgia - - 5 (4%) 516M (7%)
  Maryland - - 5 (4%) -
  North Carolina 1 (4%) - 4 (4%) 38M (< 1%)
  Missouri 2 (9%) - 3 (3%) -
  Connecticut 1 (4%) - 3 (3%) -
  Virginia - - 3 (3%) -
  Colorado - - 3 (3%) -
  Utah 1 (4%) - 2 (2%) -
  Kansas - - 2 (2%) 828M (10%)
  Wisconsin - - 2 (2%) -
  Pennsylvania - - 2 (2%) -
  New Jersey - - 2 (2%) -
  Kentucky - - 2 (2%) -
  Michigan 1 (4%) - 1 (1%) -
  New Hampshire - - 1 (1%) 390M (5%)
  Oregon - - 1 (1%) -
  Oklahoma - - 1 (1%) -
  Nevada - - 1 (1%) -
  Nebraska - - 1 (1%) -
  Minnesota - - 1 (1%) -
  Massachusetts - - 1 (1%) -
  Delaware - - 1 (1%) -
  Alabama - - 1 (1%) -
United Kingdom - - 3 (3%) 1.9B (24%)
Bermuda - - 1 (1%) 1.0B (13%)
Canada - - 1 (1%) -
  Alberta - - 1 (1%) -
Domestic 23 (100%) 2.6B (100%) 107 (96%) 5.0B (64%)
Cross-border - - 5 (4%) 2.9B (36%)
Total 23 $2.6B 112 $7.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Stake Purchase 1 (4%) - 27 (24%) -
Buyout (LBO, MBO, MBI) 1 (4%) - 24 (21%) 1.2B (15%)
Secondary Buyout 8 (35%) 675M (26%) 22 (20%) 1.2B (15%)
Consolidation 7 (30%) - 11 (10%) -
Divestiture - - 8 (7%) 2.2B (28%)
Going Private 3 (13%) 1.9B (74%) 6 (5%) 3.1B (39%)
Growth Capital 2 (9%) - 6 (5%) -
Recapitalization 1 (4%) - 5 (4%) -
PIPE - - 2 (2%) 200M (3%)
Venture - - 1 (1%) -
Total 23 $2.6B 112 $7.9B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 26 (34%) 14.9B (64%)
Secondary Sale 17 (22%) 3.9B (17%)
Trade Sale 13 (17%) 4.6B (20%)
IPO 10 (13%) -
Unknown 4 (5%) -
Merger 3 (4%) -
Bankruptcy 2 (3%) -
Stake Sale 1 (1%) -
Total 76 $23.4B

Top M&A Advisors

Financial Deals
Jefferies LLC
4
Barclays Investment Bank
4
Morgan Stanley
3
Legal Deals
Kirkland & Ellis LLP
34
Latham & Watkins
9
Skadden, Arps, Slate, Meagher & Flom LLP
2

Deal Values

buy # Total
> $1B 3 $3.5B
$100M to $1B 9 $4.4B
< $100M 1 $38M
TOTAL $7.9B
Largest Premium Credit Finance Co.
$1.4B (2012-11-01)
sell # Total
> $1B 9 $12.7B
$100M to $1B 23 $12.4B
TOTAL $25.0B
Largest Optimal Blue LLC
$1.8B (2020-07-27)

M&A Connections

Deals %
Acquired from
PE Firm(s)
86%
36 86%
Strategic(s)
14%
6 14%
Exited to
PE Firm(s)
33%
21 33%
Strategic(s)
67%
43 67%

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