Innovate - M&A Summary and Business Overview

DiversifiedCompany

Innovate M&A Summary

Innovate has acquired 6 companies. It has also divested 3 assets.

Innovate’s largest acquisition to date was in 2010, when it acquired Arbinet for $28M. It’s largest disclosed sale occurred in 2020, when it sold Global Marine Systems to J.F. Lehman & Company for $250M. Innovate has acquired in 5 different US states. The Company’s most targeted sectors include media (50%) and insurance (34%).

Innovate Business Overview

Where is Innovate headquartered?

Innovate is headquartered in New York, New York.

What is Innovate’s revenue?

Innovate disclosed revenue of 1,423M USD for 2023 and 1,637M USD for 2022.

How many employees does Innovate have?

Innovate has 3,946 employees.

What sector is Innovate in?

Innovate is a diversified company.

When was Innovate founded?

Innovate was founded in 1994.

M&A Summary

  • M&A Total Activity9
    • M&A Buy Activity6
    • M&A Sell Activity3
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 5
  • M&A Advisors 2

Innovate

Innovate Corp.

295 Madison Avenue 12th Floor,
New York, New York 10017
United States,
(212) 235-2691
www.innovatecorp.com

Innovate is a diversified holding company which seeks to acquire and grow businesses that generate sustainable free cash flow. Innovate has a diverse array of operating subsidiaries, each with its own dedicated management team, across a broad set of industries, including, but not limited to, telecom/infrastructure, large-scale U.S. construction, energy, and life sciences. Innovate was founded in 1994 and is based in New York, New York.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 6 - - - - - 6
vol $28M $28M
Sell (0.2/yr) # 2 1 - - - - 3
vol $200M $250M $450M
  9

Most Recent M&A

Company Date Value Type
Global Marine Systems Ltd. 2020-01-30 250M USD Divestiture
Chelmsford, United Kingdom · www.globalmarine.group
R2 Dermatology 2019-06-13 - Stake Sale
San Ramon, California · www.r2derm.com
Azteca America 2017-11-29 - Divestiture
Glendale, California · www.aztecaamerica.com
Mako Communications LLC 2017-09-13 - Add-on Acquisition
Corpus Christi, Texas · www.makocommunications.com
DTV America Corp. 2017-06-27 - Add-on Acquisition
Sunrise, Florida · www.dtvamerica.com
Continental General Insurance Co. 2015-12-24 - Divestiture
Omaha, Nebraska · www.continentalgeneral.com
United Teacher Associates Insurance Co. 2015-12-24 - Divestiture
Austin, Texas · www.utainteractive.com
BLACKIRON Data 2013-04-17 200M USD Divestiture
Etobicoke, Ontario · www.blackirondata.com
Arbinet Corporation 2010-11-11 28M USD Merger
Herndon, Virginia · www.arbinet.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Continental General Insurance Co. 2015-12-24 Humana, Inc. - Long-Term Care Insurance Business 2017-11-06 1
Omaha, Nebraska · www.continentalgeneral.com Louisville, Kentucky

M&A by Sector

Sector Buy # Value Sell # Value
Media 3 (50%) - - -
Insurance 2 (33%) - - -
Communications 1 (17%) 28M (100%) - -
Information Technology - - 1 (33%) 200M (44%)
Marine - - 1 (33%) 250M (56%)
Medical Products - - 1 (33%) -
Total 6 $28M 3 $450M

By Geo

State/Country Buy Value Sell Value
United States 6 28M 1 -
  Texas 2 - - -
  California 1 - 1 -
  Virginia 1 28M - -
  Nebraska 1 - - -
  Florida 1 - - -
Canada - - 1 200M
  Ontario - - 1 200M
United Kingdom - - 1 250M
Domestic 6 (100%) 28M (100%) 1 (33%) -
Cross-border - - 2 (67%) 450M (100%)
Total 6 $28M 3 $450M

Top M&A Advisors

Financial Deals
Macquarie Capital
2
Legal Deals
Debevoise & Plimpton
2

Deal Values

buy # Total
< $100M 1 $28M
TOTAL $28M
Largest Arbinet Corporation
$28M (2010-11-11)
sell # Total
$100M to $1B 2 $450M
TOTAL $450M
Largest Global Marine Systems Ltd.
$250M (2020-01-30)

M&A Connections

Deals
Acquired from
Strategic(s)
50%
3 (50%)
Divested to
Investor(s)
33%
1 (33%)
Strategic(s)
67%
2 (67%)

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