HarbourVest Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, HarbourVest Partners has acquired 26 companies. It has also invested in 6 others.

HarbourVest Partners’ most common sectors for investment aresoftware (13%) and information technology (12%) . The Firm’s most common investment types include secondary buyout (25%) and buyout (lbo, mbo, mbi) (18%). In total, HarbourVest Partners has invested in 30 US states and 30 different countries. Its largest (disclosed) acquisition occurred in 2008 when it acquired Caesars Entertainment for $30.7B.

In the last 3 years, HarbourVest Partners has exited 20 companies. The Firm’s most common exit type is trade sale (44%). HarbourVest Partners’ largest (disclosed) exit occurred in 2011 when it sold Nycomed Pharma AG for $10.8B.

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M&A Summary

  • M&A Total Activity336
    • M&A Buy Activity221
    • M&A Sell Activity115
  • Total Sectors Invested 48
  • Total Countries Invested 30
  • M&A Buy/Sell Connections 229
  • M&A Advisors 13

HarbourVest Partners

One Financial Center, 44th Floor,
Boston, Massachusetts 02111
United States
(617) 348-3707
www.harbourvest.com
usinfo@harbourvest.com

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


Investment Criteria

Sectors of Interest: Aerospace, Automotive, Beverages, Building Materials, Business Services, Chemicals, Communications, Consumer Services, Digital Media, E-Commerce, Education, Energy Services and Equipment, Financial Services, Food, Gaming, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Leisure, Life Science, Manufacturing, Marketing, Packaging, Restaurants, Retail, Safety/Security, Semiconductors, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Going Private, Growth Capital, Recapitalization, Secondary Buyout, Venture

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 5 250
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (11.0/yr) # 166 23 9 10 13 - 221
vol $164.5B $20.1B $11.8B $3.8B $7.6B $207.8B
Sell (4.8/yr) # 92 4 6 4 7 3 116
vol $76.6B $1.2B $1.7B $500M $1.0B $80.9B
  337

Most Recent M&A

Company Date Value Type
Hermetic Solutions Group 2022-11-03 - Add-on Acquisition
Trevose, Pennsylvania · www.hermeticsolutions.com
Mercury Healthcare, Inc. 2022-06-29 - Add-on Acquisition
Denver, Colorado · www.mercuryhealthcare.com
MEDIFOX DAN GMBH 2022-06-14 1.0B USD Add-on Acquisition
Hildesheim, Germany · www.medifoxdan.de
Finalsite 2021-12-01 - Secondary Buyout
Glastonbury, Connecticut · www.finalsite.com
Consol Glass (Pty) Ltd. 2021-11-26 760M ZAR Add-on Acquisition
Johannesburg, South Africa · www.consol.co.za
Riverbed Technology, Inc. 2021-11-16 - Bankruptcy
San Francisco, California · www.riverbed.com
Ministry Brands LLC 2021-11-05 - Divestiture
Lenoir City, Tennessee · www.ministrybrands.com
Investment Metrics LLC 2021-11-03 500M USD Add-on Acquisition
Norwalk, Connecticut · www.invmetrics.com
Newport Group, Inc. 2021-11-03 - Merger
Walnut Creek, California · www.newportgroup.com
Sirius Computer Solutions, Inc. 2021-10-18 2.5B USD Add-on Acquisition
San Antonio, Texas · www.siriuscom.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Risk Strategies Co., Inc. 2015-10-20 Relation Education Services 2022-10-17 70
Boston, Massachusetts · www.risk-strategies.com Walnut Creek, California
HUB International Ltd. 2013-08-05 Quintes - Insurance Brokerage and Investment Advisory Businesses 2022-10-06 379
Chicago, Illinois · www.hubinternational.com Watsonville, California
Datavant Group 2014-10-31 Datavant Group - Curation Team 2022-08-24 1
Alpharetta, Georgia · www.datavant.com Alpharetta, Georgia
HUB International Ltd. 2013-08-05 Sandy Spring Insurance Corp. 2022-06-02 378
Chicago, Illinois · www.hubinternational.com Annapolis, Maryland · www.sandyspringbank.com/insurance/
HUB International Ltd. 2013-08-05 APEX Global Benefit Management System and Related Assets 2022-05-06 377
Chicago, Illinois · www.hubinternational.com , Illinois
Sykes Cottages Ltd. 2019-10-28 Forest Holidays Ltd. 2022-04-08 1
Cheshire, United Kingdom · www.sykescottages.co.uk Moira, United Kingdom · www.forestholidays.co.uk
HUB International Ltd. 2013-08-05 Chun-Ha Insurance Services, Inc. 2022-04-04 376
Chicago, Illinois · www.hubinternational.com Garden Grove, California · www.chunha.com
Galderma SA 2019-05-16 Alchemee LLC 2022-02-22 2
Zug, Switzerland · www.galderma.com El Segundo, California · www.alchemee.com
HUB International Ltd. 2013-08-05 Pickett and Associates, Inc. 2022-02-02 2
Chicago, Illinois · www.hubinternational.com La Quinta, California · www.pickettbenefits.com
Cast & Crew Entertainment Services LLC 2018-12-10 Backstage LLC 2022-02-01 5
Burbank, California · www.castandcrew.com Brooklyn, New York · www.backstage.com

M&A by Sector

Sector Current # Value All-time # Value
Software 10 (10%) 1.6B (3%) 27 (12%) 18.9B (9%)
Information Technology 8 (8%) 2.5B (4%) 25 (11%) 3.3B (2%)
Internet Software and Services 12 (12%) 3.0B (5%) 17 (8%) 3.2B (2%)
Financial Services 9 (9%) 5.0B (8%) 15 (7%) 15.9B (8%)
Communications 2 (2%) 402M (1%) 13 (6%) 3.6B (2%)
Healthcare Services 5 (5%) 10.6B (17%) 12 (5%) 13.5B (6%)
Insurance 6 (6%) 6.0B (9%) 11 (5%) 16.6B (8%)
Business Services 4 (4%) - 10 (5%) -
Life Science 4 (4%) 614M (1%) 8 (4%) 3.3B (2%)
Chemicals 3 (3%) 13.4B (21%) 6 (3%) 17.5B (8%)
Retail 3 (3%) 6.9B (11%) 5 (2%) 8.7B (4%)
Food 4 (4%) - 5 (2%) 5.3B (3%)
E-Commerce 2 (2%) 3.3B (5%) 4 (2%) 10.6B (5%)
Marketing 2 (2%) 1.5B (2%) 4 (2%) 1.6B (1%)
Consumer Products 3 (3%) - 4 (2%) -
Information Services 2 (2%) - 3 (1%) 12.7B (6%)
Leisure 1 (1%) - 3 (1%) 2.3B (1%)
Packaging 1 (1%) 760M (1%) 3 (1%) 760M (< 1%)
Manufacturing - - 3 (1%) 214M (< 1%)
Consumer Services 3 (3%) - 3 (1%) -
Technology Hardware 1 (1%) - 3 (1%) -
Gaming - - 2 (1%) 32.6B (16%)
Semiconductors - - 2 (1%) 17.6B (8%)
Transportation 2 (2%) 4.7B (7%) 2 (1%) 4.7B (2%)
Test/Measurement Equipment 1 (1%) 780M (1%) 2 (1%) 3.5B (2%)
Aerospace 1 (1%) - 2 (1%) 2.9B (1%)
Media - - 2 (1%) 2.4B (1%)
Restaurants 1 (1%) - 2 (1%) 2.1B (1%)
Machinery - - 2 (1%) 815M (< 1%)
Distribution 2 (2%) - 2 (1%) -
Electrical Equipment 1 (1%) - 2 (1%) -
Marine 1 (1%) - 2 (1%) -
Apparel/Textiles 1 (1%) 2.0B (3%) 1 (< 1%) 2.0B (1%)
Agriculture 1 (1%) 880M (1%) 1 (< 1%) 880M (< 1%)
Automotive - - 1 (< 1%) 181M (< 1%)
Environmental - - 1 (< 1%) 134M (< 1%)
Building Materials - - 1 (< 1%) -
Digital Media - - 1 (< 1%) -
Education 1 (1%) - 1 (< 1%) -
Franchising 1 (1%) - 1 (< 1%) -
Furniture - - 1 (< 1%) -
Infrastructure - - 1 (< 1%) -
Medical Products - - 1 (< 1%) -
Metals/Mining 1 (1%) - 1 (< 1%) -
Plastics - - 1 (< 1%) -
Publishing - - 1 (< 1%) -
Renewable Energy 1 (1%) - 1 (< 1%) -
Safety/Security - - 1 (< 1%) -
Total 100 $63.9B 222 $207.8B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 54 (54%) 25.6B (40%) 131 (59%) 137.0B (66%)
  Texas 9 (9%) 4.1B (6%) 20 (9%) 27.6B (13%)
  California 9 (9%) 6.0B (9%) 18 (8%) 16.6B (8%)
  New York 5 (5%) - 11 (5%) 12.7B (6%)
  Massachusetts 3 (3%) 7.7B (12%) 9 (4%) 9.7B (5%)
  Florida 3 (3%) - 9 (4%) 3.4B (2%)
  Illinois 2 (2%) 4.4B (7%) 5 (2%) 17.7B (9%)
  Maryland 1 (1%) - 5 (2%) 634M (< 1%)
  North Carolina 1 (1%) - 5 (2%) 134M (< 1%)
  Connecticut 1 (1%) - 5 (2%) -
  Ohio 3 (3%) - 4 (2%) 815M (< 1%)
  Colorado 2 (2%) - 4 (2%) 294M (< 1%)
  Nevada 1 (1%) - 4 (2%) 30.7B (15%)
  Virginia 1 (1%) - 4 (2%) -
  New Jersey - - 4 (2%) 1.2B (1%)
  Tennessee 2 (2%) - 3 (1%) -
  Minnesota 1 (1%) - 3 (1%) 143M (< 1%)
  Georgia 1 (1%) - 3 (1%) -
  Michigan 1 (1%) - 2 (1%) -
  Pennsylvania - - 2 (1%) 11.4B (6%)
  Missouri 1 (1%) 2.0B (3%) 1 (< 1%) 2.0B (1%)
  Arkansas 1 (1%) 1.5B (2%) 1 (< 1%) 1.5B (1%)
  Oregon 1 (1%) - 1 (< 1%) -
  Oklahoma 1 (1%) - 1 (< 1%) -
  Louisiana 1 (1%) - 1 (< 1%) -
  Kansas 1 (1%) - 1 (< 1%) -
  Alabama 1 (1%) - 1 (< 1%) -
  Washington 1 (1%) - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) 390M (< 1%)
  Wisconsin - - 1 (< 1%) 214M (< 1%)
  Delaware - - 1 (< 1%) -
United Kingdom 9 (9%) 1.6B (3%) 20 (9%) 13.4B (6%)
Canada 5 (5%) - 7 (3%) -
  Ontario 2 (2%) - 4 (2%) -
  Quebec 1 (1%) - 1 (< 1%) -
  British Columbia 1 (1%) - 1 (< 1%) -
  Alberta 1 (1%) - 1 (< 1%) -
Netherlands 3 (3%) 11.4B (18%) 7 (3%) 13.7B (7%)
Germany 1 (1%) - 7 (3%) 3.1B (1%)
France 3 (3%) - 4 (2%) 2.4B (1%)
Spain 2 (2%) 4.1B (6%) 4 (2%) 4.1B (2%)
Australia 2 (2%) 880M (1%) 4 (2%) 1.2B (1%)
Belgium 1 (1%) - 4 (2%) 181M (< 1%)
India 3 (3%) - 3 (1%) -
South Africa 2 (2%) 760M (1%) 3 (1%) 2.0B (1%)
Bermuda 2 (2%) 1.0B (2%) 3 (1%) 1.0B (< 1%)
Italy 1 (1%) - 3 (1%) 2.9B (1%)
Sweden 1 (1%) - 3 (1%) 118M (< 1%)
Switzerland 1 (1%) 10.6B (17%) 2 (1%) 10.6B (5%)
Poland 1 (1%) 3.3B (5%) 2 (1%) 3.3B (2%)
Israel 1 (1%) - 2 (1%) -
South Korea 1 (1%) 3.7B (6%) 1 (< 1%) 3.7B (2%)
Finland 1 (1%) 614M (1%) 1 (< 1%) 614M (< 1%)
Norway 1 (1%) 402M (1%) 1 (< 1%) 402M (< 1%)
China 1 (1%) - 1 (< 1%) -
Channel Islands 1 (1%) - 1 (< 1%) -
Kenya 1 (1%) - 1 (< 1%) -
New Zealand 1 (1%) - 1 (< 1%) -
Romania 1 (1%) - 1 (< 1%) -
Denmark - - 1 (< 1%) 5.0B (2%)
Japan - - 1 (< 1%) 2.1B (1%)
Ireland - - 1 (< 1%) -
Singapore - - 1 (< 1%) -
Domestic 54 (54%) 25.6B (40%) 131 (59%) 137.0B (66%)
Cross-border 46 (46%) 38.3B (60%) 90 (41%) 69.6B (34%)
Total 100 $63.9B 221 $206.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 29 (29%) 10.1B (16%) 54 (24%) 21.1B (10%)
Buyout (LBO, MBO, MBI) 19 (19%) 7.6B (12%) 39 (18%) 25.1B (12%)
Growth Capital 14 (14%) - 30 (14%) -
Going Private 7 (7%) 11.9B (19%) 27 (12%) 104.0B (51%)
Venture 5 (5%) - 23 (10%) 30M (< 1%)
Divestiture 7 (7%) 25.2B (39%) 15 (7%) 32.9B (16%)
Recapitalization 4 (4%) - 11 (5%) 2.0B (1%)
Add-on Acquisition 9 (9%) 9.0B (14%) 10 (5%) 9.0B (4%)
Stake Purchase 5 (5%) - 7 (3%) -
PIPE - - 3 (1%) -
Consolidation - - 2 (1%) 9.5B (5%)
Merger 1 (1%) - 1 (< 1%) -
Total 100 $63.9B 222 $203.6B

Exits by Deal Type

Type Total # Value
Secondary Sale 31 (27%) 14.2B (18%)
Trade Sale - Public Company 28 (24%) 55.3B (68%)
Trade Sale 24 (21%) 9.5B (12%)
IPO 21 (18%) -
Merger 6 (5%) 2.0B (2%)
Bankruptcy 3 (3%) -
Recapitalization 1 (1%) -
SPAC 1 (1%) -
Stake Sale 1 (1%) -
Total 116 $80.9B

Top M&A Advisors

Financial Deals
Credit Suisse Investment Banking
3
Citigroup Investment Banking
2
Bank of America Merrill Lynch (BofA Securities)
2
Legal Deals
Skadden, Arps, Slate, Meagher & Flom LLP
1
Herbert Smith Freehills
1
Debevoise & Plimpton LLP
1

Deal Values

buy # Total
> $1B 42 $199.7B
$100M to $1B 20 $7.9B
< $100M 6 $228M
TOTAL $207.8B
Largest Caesars Entertainment Corp. (old)
$30.7B (2008-01-01)
sell # Total
> $1B 19 $73.2B
$100M to $1B 14 $7.6B
< $100M 3 $167M
TOTAL $80.9B
Largest Nycomed Pharma AG
$10.8B (2011-05-19)

M&A Connections

Deals
Acquired from
Investor(s)
32%
72 (32%)
Strategic(s)
8%
17 (8%)
Exited to
Investor(s)
27%
31 (27%)
Strategic(s)
48%
56 (48%)

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