Genstar Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Genstar Capital has acquired 15 companies. It has also invested in 1 other.

Genstar Capital’s most common sectors for investment areinsurance (13%) and software (12%) . The Firm’s most common investment types include secondary buyout (45%) and buyout (lbo, mbo, mbi) (24%). In total, Genstar Capital has invested in 24 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2007 when it acquired Catalent for $3.3B.

In the last 3 years, Genstar Capital has exited 10 companies. The Firm’s most common exit type is secondary buyout (39%). Genstar Capital’s largest (disclosed) exit occurred in 2020 when it sold Institutional Shareholder Services for $2.3B.

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M&A Summary

  • M&A Total Activity165
    • M&A Buy Activity105
    • M&A Sell Activity60
  • Total Sectors Invested 24
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 54
  • M&A Advisors 23

Genstar Capital

Genstar Capital LLC

Four Embarcadero Center, Suite 1900,
San Francisco, California 94111
United States
(415) 834-2350
www.gencap.com
info@gencap.com

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Construction, Consumer Products, Electrical Equipment, Financial Services, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Life Science, Machinery, Manufacturing, Marketing, Medical Products, Metals/Mining, Packaging, Software, Test/Measurement Equipment, Transportation

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 10 -
Investment Size 50 400
Enterprise Value 50 1,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (3.8/yr) # 86 6 7 3 1 2 105
vol $8.4B $8.4B
Sell (2.8/yr) # 46 4 7 2 - 1 60
vol $7.4B $2.3B $1.4B $585M $11.6B
  165

Most Recent M&A

Company Date Value Type
Flourish Research 2024-09-18 - Secondary Buyout
Apex, North Carolina · www.flourishresearch.com
Docupace Technologies, Inc. 2024-07-23 - Secondary Buyout
Culver City, California · www.docupace.com
2-10 Home Buyers Warranty Corp. 2024-06-04 585M USD Trade Sale
Denver, Colorado · www.2-10.com
The SEER Group 2023-01-01 - Buyout (LBO, MBO, MBI)
Lynnwood, Washington · www.theseergroup.com
Numerix LLC 2022-08-30 - Growth Capital
New York, New York · www.numerix.com
Abracon Corp. 2022-07-06 - Secondary Buyout
Rancho Santa Margarita, California · www.abracon.com
Cerity Partners LLC 2022-06-13 - Recapitalization
New York, New York · www.ceritypartners.com
Advarra, Inc. 2022-06-10 - Secondary Sale
Columbia, Maryland · www.advarra.com
BBB Industries LLC 2022-05-19 - Secondary Sale
Daphne, Alabama · www.bbbind.com
Brook & Whittle Ltd. 2021-11-18 - Secondary Buyout
Guilford, Connecticut · www.brookandwhittle.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
BBB Industries LLC 2022-05-19 All Star Auto Lights 2024-07-18 2
Daphne, Alabama · www.bbbind.com Orlando, Florida · www.allstarautoparts.com
Bullhorn, Inc. 2017-10-23 Textkernel B.V. 2024-06-18 13
Boston, Massachusetts · www.bullhorn.com Amsterdam, Netherlands · www.textkernel.com
ACA Compliance Group Holdings LLC 2021-11-17 UMB Distribution Services LLC 2024-05-30 7
New York, New York · www.acaglobal.com Kansas, Missouri
Ascensus LLC 2021-04-26 Ascensus - ESOP Business 2024-05-16 1
Dresher, Pennsylvania · www.ascensus.com Dresher, Pennsylvania
Ascensus LLC 2021-04-26 Vanguard - Simple, Multi-SEP, and Individual 401(k) retirement plans 2024-04-16 3
Dresher, Pennsylvania · www.ascensus.com Valley Forge, Pennsylvania
Clarience Technologies, LLC 2019-12-17 Safe Fleet Holdings LLC 2024-02-15 4
Falconer, New York · www.clariencetechnologies.com Belton, Missouri · www.safefleetsolutions.com
Amerilife Group LLC 2020-01-07 AmeriLife - Administrative Partners of America 2024-01-09 1
Clearwater, Florida · www.amerilife.com Clearwater, Florida
BBB Industries LLC 2022-05-19 Hydraulex International LLC 2023-07-17 1
Daphne, Alabama · www.bbbind.com Chesterfield, Michigan · www.hydraulex.com
Apex Fund Services Ltd. 2017-05-09 Efficient Group 2023-03-15 13
Hamilton, Bermuda · www.apexgroup.com Pretoria, South Africa · www.efgroup.co.za
Professional Datasolutions, Inc. 2016-05-24 Blue Cow Software LLC 2023-02-15 25
Alpharetta, Georgia · www.pdisoftware.com Middleton, Massachusetts · www.bluecowsoftware.com

M&A by Sector

Sector Current # Value All-time # Value
Insurance 7 (15%) - 14 (13%) -
Software 9 (20%) 1.0B (100%) 12 (11%) 1.0B (13%)
Financial Services 5 (11%) - 11 (10%) 1.1B (14%)
Information Technology 6 (13%) - 9 (8%) -
Internet Software and Services 4 (9%) - 8 (7%) -
Life Science 1 (2%) - 7 (6%) 4.1B (51%)
Business Services 3 (7%) - 7 (6%) -
Building Materials - - 4 (4%) 693M (9%)
Electrical Equipment - - 4 (4%) -
Healthcare Services 1 (2%) - 4 (4%) -
Packaging 2 (4%) - 4 (4%) -
Automotive 2 (4%) - 3 (3%) -
Distribution 3 (7%) - 3 (3%) -
Information Services - - 3 (3%) -
Test/Measurement Equipment 1 (2%) - 3 (3%) -
Manufacturing - - 2 (2%) 557M (7%)
Medical Products - - 2 (2%) 400M (5%)
Machinery 1 (2%) - 2 (2%) 100M (1%)
Construction - - 2 (2%) -
Aerospace 1 (2%) - 1 (1%) -
Communications - - 1 (1%) -
Consumer Products - - 1 (1%) -
Furniture - - 1 (1%) -
Metals/Mining - - 1 (1%) -
Total 46 $1.0B 109 $8.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 44 (96%) 1.0B (100%) 101 (93%) 7.9B (98%)
  California 4 (9%) - 14 (13%) 1.2B (15%)
  Texas 5 (11%) - 8 (7%) -
  New York 5 (11%) - 8 (7%) -
  North Carolina 4 (9%) 1.0B (100%) 7 (6%) 1.8B (22%)
  Pennsylvania 3 (7%) - 6 (6%) 400M (5%)
  Connecticut 1 (2%) - 6 (6%) 345M (4%)
  Florida 5 (11%) - 5 (5%) -
  Illinois 2 (4%) - 5 (5%) 100M (1%)
  Massachusetts 1 (2%) - 5 (5%) -
  Alabama 2 (4%) - 4 (4%) -
  Ohio 2 (4%) - 4 (4%) -
  Maryland 1 (2%) - 4 (4%) 720M (9%)
  Georgia 3 (7%) - 3 (3%) -
  New Jersey 1 (2%) - 3 (3%) 3.3B (42%)
  Minnesota 1 (2%) - 3 (3%) -
  Colorado 1 (2%) - 3 (3%) -
  Michigan - - 3 (3%) -
  Missouri 1 (2%) - 2 (2%) -
  Tennessee - - 2 (2%) -
  Arizona - - 2 (2%) -
  Washington 1 (2%) - 1 (1%) -
  Nebraska 1 (2%) - 1 (1%) -
  Wisconsin - - 1 (1%) -
  Kansas - - 1 (1%) -
Canada - - 6 (6%) 120M (2%)
  Ontario - - 3 (3%) 120M (2%)
  Alberta - - 2 (2%) -
  Quebec - - 1 (1%) -
Bermuda 1 (2%) - 1 (1%) -
Norway 1 (2%) - 1 (1%) -
Domestic 44 (96%) 1.0B (100%) 101 (93%) 7.9B (98%)
Cross-border 2 (4%) - 8 (7%) 120M (2%)
Total 46 $1.0B 109 $8.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 22 (48%) 1.0B (100%) 49 (45%) 2.7B (34%)
Buyout (LBO, MBO, MBI) 4 (9%) - 26 (24%) 400M (5%)
Divestiture 2 (4%) - 9 (8%) 3.9B (48%)
Growth Capital 7 (15%) - 8 (7%) -
Recapitalization 6 (13%) - 7 (6%) -
Consolidation 3 (7%) - 5 (5%) -
Going Private - - 2 (2%) 1.0B (13%)
Stake Purchase 2 (4%) - 2 (2%) -
Special Situations/Distressed - - 1 (1%) -
Total 46 $1.0B 109 $8.0B

Exits by Deal Type

Type Total # Value
Secondary Sale 23 (38%) 4.6B (39%)
Trade Sale - Public Company 12 (20%) 4.8B (41%)
Trade Sale 7 (12%) 2.3B (20%)
Bankruptcy 6 (10%) -
Merger 6 (10%) -
IPO 5 (8%) -
Recapitalization 1 (2%) -
Total 60 $11.6B

Top M&A Advisors

Financial Deals
Jefferies
 4
Baird
 3
UBS Investment Bank
 3
Legal Deals
Ropes & Gray
 10
Willkie Farr & Gallagher
 9
Weil Gotshal & Manges
 8

Deal Values

buy # Total
> $1B 2 $4.3B
$100M to $1B 9 $4.0B
< $100M 1 $100M
TOTAL $8.4B
Largest Catalent, Inc.
$3.3B (2007-01-25)
sell # Total
> $1B 4 $7.0B
$100M to $1B 9 $4.6B
TOTAL $11.6B
Largest Institutional Shareholder Services, Inc.
$2.3B (2020-11-17)

M&A Connections

Deals
Acquired from
Investor(s)
50%
54 (50%)
Strategic(s)
9%
10 (9%)
Exited to
Investor(s)
40%
24 (40%)
Strategic(s)
40%
24 (40%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

49.0B USD

Established

1988

Specialist/Generalist

Generalist

Leadership

Jean-Pierre Conte

Chairman & Managing Director

J. Ryan Clark

Managing Director & President

Eli Weiss

Managing Partner

Rob Rutledge

Managing Partner

Tony Salewski

Managing Partner

FAQ

When was Genstar Capital founded?

Genstar Capital was founded in 1988.

What type of investor is Genstar Capital?

Genstar Capital is a private equity firm.

Where is Genstar Capital headquartered?

Genstar Capital is headquartered in San Francisco, California.

How much capital does Genstar Capital have under management?

Genstar Capital has 49.0B USD under management.

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