Harbert Private Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Harbert Private Capital has invested in 2 companies.

Harbert Private Capital’s most common sectors for investment are healthcare services (19%) and business services (12%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (55%) and recapitalization (17%). In total, Harbert Private Capital has invested in 23 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2012 when it acquired FastTrack Pty for $12M.

In the last 3 years, Harbert Private Capital has exited 9 companies. The Firm’s most common exit type is trade sale (59%). Harbert Private Capital’s largest (disclosed) exit occurred in 2005 when it sold KEYS Group Holdings for $207M.

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M&A Summary

  • M&A Total Activity92
    • M&A Buy Activity53
    • M&A Sell Activity39
  • Total Sectors Invested 25
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 65
  • M&A Advisors 2

Harbert Private Capital

2100 Third Avenue North, Suite 600,
Birmingham, Alabama 35203
United States
(205) 987-5500
www.harbert.net/investment-strategies/private-capital

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.


Investment Criteria

Sectors of Interest: Automotive, Building Materials, Business Services, Communications, Construction, Consumer Products, Consumer Services, Distribution, Education, Energy Services and Equipment, Financial Services, Food, Healthcare Services, Information Technology, Insurance, Life Science, Manufacturing, Media, Medical Products, Metals/Mining, Oil/Gas Exploration, Packaging, Retail, Safety/Security, Software, Staffing, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Special Situations/Distressed

Geographic Preferences: East US, Midwest US, South US, West US, Canada, Western Europe, Eastern Europe, Australia/New Zealand

Transaction Criteria Min Max
Target Revenue 20 50
Target EBITDA 3 15
Investment Size 3 15
Enterprise Value 10 100
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.6/yr) # 50 1 - 2 - - 53
vol $12M $10M $22M
Sell (2.6/yr) # 26 4 6 1 1 1 39
vol $323M $59M $382M
  92

Most Recent M&A

Company Date Value Type
Voci Technologies, Inc. 2020-04-22 59M USD Add-on Acquisition
Pittsburgh, Pennsylvania · www.vocitec.com
Intermountain Drilling Supply Corp. 2019-08-13 - Bankruptcy
Salt Lake City, Utah · www.intermountaindrillingsupply.com
Coople (Switzerland) AG 2018-10-26 - Growth Capital
Zurich, Germany · www.coople.com
GAHH LLC 2018-05-14 - Add-on Acquisition
North Hollywood, California · www.gahh.com
Voci Technologies, Inc. 2018-02-01 - Venture
Pittsburgh, Pennsylvania · www.vocitec.com
Terracare Associates LLC 2017-10-23 - Add-on Acquisition
Littleton, Colorado · www.myterracare.com
Wyndham Jade LLC 2017-08-10 - Add-on Acquisition
Plano, Texas · www.wyndhamjade.com
Back Yard Burgers, Inc. 2017-07-10 - Secondary Buyout
Nashville, Tennessee · www.backyardburger.com
Norsk Titanium AS 2017-06-14 - Secondary Buyout
Hønefoss, Norway · www.norsktitanium.com
Highwinds Network Group, Inc. 2017-02-06 - Add-on Acquisition
Winter Park, Florida · www.highwinds.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Avita Drugs LLC 2007-05-01 MedExpress Pharmacy Ltd. 2014-08-29 1
Baton Rouge, Louisiana · www.avitadrugs.com Salisbury, North Carolina · www.1800medexpress.com

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 2 (12%) - 10 (19%) -
Business Services 1 (6%) - 6 (11%) -
Automotive 1 (6%) - 3 (6%) -
Financial Services 2 (12%) - 3 (6%) -
Manufacturing 1 (6%) - 3 (6%) -
Staffing 2 (12%) 12M (100%) 2 (4%) 12M (55%)
Aerospace 1 (6%) - 2 (4%) 10M (45%)
Construction - - 2 (4%) -
Environmental 2 (12%) - 2 (4%) -
Information Technology 1 (6%) - 2 (4%) -
Internet Software and Services 1 (6%) - 2 (4%) -
Metals/Mining 1 (6%) - 2 (4%) -
Software - - 2 (4%) -
Building Materials - - 1 (2%) -
Chemicals - - 1 (2%) -
Communications - - 1 (2%) -
Electronics - - 1 (2%) -
Franchising - - 1 (2%) -
Machinery - - 1 (2%) -
Marketing - - 1 (2%) -
Media - - 1 (2%) -
Packaging - - 1 (2%) -
Plastics 1 (6%) - 1 (2%) -
Retail - - 1 (2%) -
Utilities 1 (6%) - 1 (2%) -
Total 17 $12M 53 $22M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (71%) - 46 (87%) -
  Georgia 2 (12%) - 8 (15%) -
  Texas 1 (6%) - 7 (13%) -
  Tennessee 1 (6%) - 3 (6%) -
  Florida 1 (6%) - 3 (6%) -
  Virginia - - 3 (6%) -
  Pennsylvania - - 3 (6%) -
  North Carolina 1 (6%) - 2 (4%) -
  Missouri - - 2 (4%) -
  Wisconsin 1 (6%) - 1 (2%) -
  West Virginia 1 (6%) - 1 (2%) -
  Oregon 1 (6%) - 1 (2%) -
  Louisiana 1 (6%) - 1 (2%) -
  California 1 (6%) - 1 (2%) -
  Arkansas 1 (6%) - 1 (2%) -
  Utah - - 1 (2%) -
  Oklahoma - - 1 (2%) -
  New York - - 1 (2%) -
  Nevada - - 1 (2%) -
  Mississippi - - 1 (2%) -
  Massachusetts - - 1 (2%) -
  Colorado - - 1 (2%) -
  Alabama - - 1 (2%) -
Australia 4 (24%) 12M (100%) 5 (9%) 12M (55%)
Germany 1 (6%) - 1 (2%) -
Norway - - 1 (2%) 10M (45%)
Domestic 12 (71%) - 46 (87%) -
Cross-border 5 (29%) 12M (100%) 7 (13%) 22M (100%)
Total 17 $12M 53 $22M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 6 (35%) 12M (100%) 29 (55%) 12M (55%)
Recapitalization 5 (29%) - 9 (17%) -
Growth Capital 4 (24%) - 8 (15%) 10M (45%)
Venture 1 (6%) - 3 (6%) -
Consolidation - - 1 (2%) -
Divestiture - - 1 (2%) -
Going Private - - 1 (2%) -
Stake Purchase 1 (6%) - 1 (2%) -
Total 17 $12M 53 $22M

Exits by Deal Type

Type Total # Value
Trade Sale 19 (49%) 142M (37%)
Secondary Sale 11 (28%) -
Trade Sale - Public Company 5 (13%) 240M (63%)
Bankruptcy 2 (5%) -
Unknown 2 (5%) -
Total 39 $382M

Top M&A Advisors

Financial Deals
Colonnade Advisors LLC
1
McGrathNicol
1

Deal Values

buy # Total
< $100M 2 $22M
TOTAL $22M
Largest FastTrack Pty Ltd.
$12M (2012-07-10)
sell # Total
$100M to $1B 1 $207M
< $100M 4 $175M
TOTAL $382M
Largest KEYS Group Holdings LLC
$207M (2005-10-10)

M&A Connections

Deals %
Acquired from
PE Firm(s)
75%
3 75%
Strategic(s)
25%
1 25%
Exited to
PE Firm(s)
34%
12 34%
Strategic(s)
66%
23 66%

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