HGGC Mergers and Acquisitions Summary

Private Equity Firm Profile

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

HGGC’s most common sectors for investment areinternet software and services (22%) and software (17%) . The Firm’s most common investment types include secondary buyout (30%) and buyout (lbo, mbo, mbi) (28%). In total, HGGC has invested in 17 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2019 when it acquired Monotype Imaging Holdings for $825M.

In the last 3 years, HGGC has exited 7 companies. The Firm’s most common exit type is trade sale (64%). HGGC’s largest (disclosed) exit occurred in 2012 when it sold Sunquest Information Systems for $1.4B.

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M&A Summary

  • M&A Total Activity56
    • M&A Buy Activity37
    • M&A Sell Activity19
  • Total Sectors Invested 15
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 25
  • M&A Advisors 11

HGGC

1950 University Avenue,
Palo Alto, California 94303
United States
(650) 321-4910
www.hggc.com
nbarenz@hggc.com

HGGC (formerly Huntsman Gay Global Capital) focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks to invest $25 to $100 million in companies generating sales of $75 million to $1 billion. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.


Investment Criteria

Sectors of Interest: Business Services, Communications, Construction, Consumer Products, Engineering, Financial Services, Food, Healthcare Services, Information Services, Information Technology, Insurance, Internet Software and Services, Machinery, Plastics, Software, Technology Hardware

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

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

Transaction Criteria Min Max
Target Revenue 100 -
Target EBITDA 15 40
Investment Size 25 100
Enterprise Value 100 500
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.6/yr) # 24 4 3 2 2 2 37
vol $831M $446M $555M $825M $2.7B
Sell (1.6/yr) # 11 1 1 2 1 3 19
vol $4.4B $200M $4.6B
  56

Most Recent M&A

Company Date Value Type
Beauty Industry Group. Inc. 2021-08-11 - Secondary Buyout
Salt Lake City, Utah · www.beautyindustrygroup.com
Davies Group Ltd. 2021-03-16 - Secondary Buyout
London, United Kingdom · www.davies-group.com
Dealer-FX Group, Inc. 2021-03-08 200M USD Add-on Acquisition
Markham, Ontario · www.dealer-fx.net
Buildertrend 2021-02-24 - Growth Capital
Omaha, Nebraska · www.buildertrend.com
Marmic Fire & Safety Co. 2021-02-02 - Secondary Buyout
Joplin, Missouri · www.marmicfire.com
Specialist Risk Group Ltd. 2020-12-21 - Buyout (LBO, MBO, MBI)
London, United Kingdom · www.specialistrisk.com
Selligent, Inc. 2020-11-02 - Add-on Acquisition
San Jose, California · www.selligent.com
Peter C. Foy & Associates Insurance Services LLC 2020-04-01 - Secondary Buyout
Woodland Hills, California · www.pcfinsuranceservices.com
Innovative Interfaces, Inc. 2019-12-05 - Add-on Acquisition
Emeryville, California · www.iii.com
Integrity Marketing Group LLC 2019-08-28 - Recapitalization
Dallas, Texas · www.integritymarketinggroup.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Monotype Imaging Holdings, Inc. 2019-07-26 Olapic, Inc. 2020-09-29 1
Woburn, Massachusetts · www.monotype.com New York, New York · www.olapic.com
HelpSystems LLC 2018-04-04 TITUS, Inc. 2020-06-25 10
Eden Prairie, Minnesota · www.helpsystems.com Ottawa, Ontario · www.titus.com
HelpSystems LLC 2018-04-04 Boldon James Ltd. 2020-06-25 9
Eden Prairie, Minnesota · www.helpsystems.com Farnborough, United Kingdom · www.boldonjames.com
Monotype Imaging Holdings, Inc. 2019-07-26 URW Type Foundry GmbH 2020-05-18 3
Woburn, Massachusetts · www.monotype.com Hamburg, Germany · www.urwpp.de
HelpSystems LLC 2018-04-04 SecureAuth Corp. - Core Security Solutions 2019-02-06 8
Eden Prairie, Minnesota · www.helpsystems.com Irvine, California
Idera, Inc. 2014-09-10 Embarcadero Technologies, Inc. 2015-10-07 17
Houston, Texas · www.idera.com San Francisco, California · www.embarcadero.com
Dynata, LLC 2015-02-01 SmileCity Ltd. 2015-07-05 4
Shelton, Connecticut · www.dynata.com Point Chevalier, New Zealand · www.smilecity.co.nz
Dynata, LLC 2015-02-01 MyOpinions Pty Ltd. 2015-07-05 3
Shelton, Connecticut · www.dynata.com Chatswood, Australia · www.myopinions.com.au

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 4 (22%) 825M (45%) 8 (22%) 825M (31%)
Software 2 (11%) - 6 (16%) 450M (17%)
Insurance 3 (17%) - 5 (14%) -
Consumer Products 1 (6%) 446M (24%) 3 (8%) 446M (17%)
Information Technology 3 (17%) - 3 (8%) -
Business Services 1 (6%) 555M (30%) 2 (5%) 555M (21%)
Information Services 1 (6%) - 2 (5%) -
Medical Products - - 1 (3%) 381M (14%)
Construction - - 1 (3%) -
Education 1 (6%) - 1 (3%) -
Food - - 1 (3%) -
Machinery - - 1 (3%) -
Plastics - - 1 (3%) -
Safety/Security 1 (6%) - 1 (3%) -
Technology Hardware 1 (6%) - 1 (3%) -
Total 18 $1.8B 37 $2.7B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 17 (94%) 1.8B (100%) 32 (86%) 2.7B (100%)
  California 4 (22%) 555M (30%) 9 (24%) 1.0B (38%)
  Texas 3 (17%) - 4 (11%) -
  Connecticut 2 (11%) - 2 (5%) -
  Utah 1 (6%) 446M (24%) 2 (5%) 446M (17%)
  Florida 1 (6%) - 2 (5%) -
  Louisiana - - 2 (5%) -
  Massachusetts 1 (6%) 825M (45%) 1 (3%) 825M (31%)
  New York 1 (6%) - 1 (3%) -
  Nebraska 1 (6%) - 1 (3%) -
  Missouri 1 (6%) - 1 (3%) -
  Minnesota 1 (6%) - 1 (3%) -
  Georgia 1 (6%) - 1 (3%) -
  Arizona - - 1 (3%) 381M (14%)
  Vermont - - 1 (3%) -
  Oklahoma - - 1 (3%) -
  Ohio - - 1 (3%) -
  Illinois - - 1 (3%) -
United Kingdom 1 (6%) - 2 (5%) -
Canada - - 2 (5%) -
  Quebec - - 1 (3%) -
  Ontario - - 1 (3%) -
Germany - - 1 (3%) -
Domestic 17 (94%) 1.8B (100%) 32 (86%) 2.7B (100%)
Cross-border 1 (6%) - 5 (14%) -
Total 18 $1.8B 37 $2.7B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 5 (28%) - 11 (30%) 450M (17%)
Buyout (LBO, MBO, MBI) 5 (28%) - 10 (27%) 381M (14%)
Growth Capital 4 (22%) - 9 (24%) -
Going Private 3 (17%) 1.8B (100%) 3 (8%) 1.8B (69%)
Recapitalization - - 2 (5%) -
Stake Purchase - - 1 (3%) -
Venture 1 (6%) - 1 (3%) -
Total 18 $1.8B 37 $2.7B

Exits by Deal Type

Type Total # Value
Trade Sale 7 (37%) -
Trade Sale - Public Company 5 (26%) 4.3B (92%)
Secondary Sale 4 (21%) 380M (8%)
Merger 2 (11%) -
Recapitalization 1 (5%) -
Total 19 $4.6B

Top M&A Advisors

Financial Deals
Evercore Group LLC
2
Jefferies LLC
2
Houlihan Lokey
1
Legal Deals
Kirkland & Ellis LLP
9
King & Wood Mallesons
1

Deal Values

buy # Total
$100M to $1B 5 $2.7B
TOTAL $2.7B
Largest Monotype Imaging Holdings, Inc.
$825M (2019-07-26)
sell # Total
> $1B 2 $2.7B
$100M to $1B 4 $1.9B
TOTAL $4.6B
Largest Sunquest Information Systems, Inc.
$1.4B (2012-07-30)

M&A Connections

Deals
Acquired from
Investor(s)
32%
12 (32%)
Exited to
Investor(s)
26%
5 (26%)
Strategic(s)
74%
14 (74%)

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