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Goldman Sachs Merchant Banking Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Goldman Sachs Merchant Banking has acquired 6 companies. It has also invested in 5 others.

Goldman Sachs Merchant Banking’s most common sectors for investment arebusiness services (9%) and information technology (8%) . The Firm’s most common investment types include secondary buyout (37%) and buyout (lbo, mbo, mbi) (18%). In total, Goldman Sachs Merchant Banking has invested in 31 US states and 22 different countries. Its largest (disclosed) acquisition occurred in 2007 when it acquired Energy Future Holdings for $44.4B.

In the last 3 years, Goldman Sachs Merchant Banking has exited 11 companies. The Firm’s most common exit type is trade sale (35%). Goldman Sachs Merchant Banking’s largest (disclosed) exit occurred in 2008 when it sold Alltel for $28.1B.

Join Mergr to view Goldman Sachs Merchant Banking’s full profile and discover more mega-sized private equity firm investors just like it.

M&A Summary

  • M&A Total Activity307
    • M&A Buy Activity188
    • M&A Sell Activity119
  • Total Sectors Invested 50
  • Total Countries Invested 22
  • M&A Buy/Sell Connections 156
  • M&A Advisors 44

Goldman Sachs Merchant Banking

85 Broad Street,
New York, New York 10004
United States
(212) 902-1000
www.goldmansachs.com/pia
peg@gs.com

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


Investment Criteria

Sectors of Interest: Automotive, Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Electronics, Energy Services and Equipment, Financial Services, Food, Healthcare Services, Information Technology, Infrastructure, Manufacturing, Media, Oil/Gas Exploration, Packaging, Plastics, Real Estate, Renewable Energy, Retail, Safety/Security, Software, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed, PIPE

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Nordic, Asia/Pacific, Australia/New Zealand, Central Asia/India, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 20 800
Enterprise Value - 10,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (3.6/yr) # 170 7 4 1 6 - 188
vol $172.7B $8.5B $2.1B $183.3B
Sell (5.4/yr) # 93 16 4 4 2 1 120
vol $83.5B $8.6B $3.9B $5.5B $101.5B
  308
+6801802002202402602803003201401603400

Most Recent M&A

Company Date Value Type
Infinidat Ltd. 2025-01-16 - Trade Sale
Waltham, Massachusetts · www.infinidat.com
OMH HealthEdge Holdings, Inc. 2024-12-20 - Growth Capital
Boca Raton, Florida · www.omegahms.com
Sila Services LLC 2024-11-11 - Secondary Buyout
King of Prussia, Pennsylvania · www.sila.com
Standard Aero Holdings, Inc. 2024-09-23 - IPO
Scottsdale, Arizona · www.standardaero.com
Interplay Learning 2024-09-19 - Growth Capital
Austin, Texas · www.interplaylearning.com
ARC Document Solutions LLC 2024-08-30 - Merger
Walnut Creek, California · www.e-arc.com
BrightNight 2024-08-01 - Growth Capital
West Palm Beach, Florida · www.brightnightpower.com
TAIT 2024-07-09 - Secondary Buyout
Lititz, Pennsylvania · www.taittowers.com
Carlton One Engagement Corp. 2024-06-06 - Secondary Buyout
Markham, Ontario · www.carltonone.com
Associated Asphalt, Inc. 2023-12-15 - Trade Sale
Roanoke, Virginia · www.associatedasphalt.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Advania AB 2018-08-04 Quality 360 2025-02-26 1
Stockholm, Sweden · www.advania.com Stockholm, Sweden
The Imagine Group LLC 2021-01-26 Meyers - Temporary Display and Signage Business 2024-08-14 1
Minneapolis, Minnesota · www.theimaginegroup.com Minneapolis, Minnesota
Advania AB 2018-08-04 Cloudio A/S 2022-11-02 17
Stockholm, Sweden · www.advania.com Vanløse, Denmark · www.cloudio.dk
Advania AB 2018-08-04 3 Step IT Group Oy - Front End Services 2022-07-11 16
Stockholm, Sweden · www.advania.com Helsinki, Finland
Advania AB 2018-08-04 Valtti Kumppanit Oy 2022-02-16 15
Stockholm, Sweden · www.advania.com Espoo, Finland · www.valtti.com
Lloyd's Register Quality Assurance 2021-06-29 ELEVATE 2022-01-26 1
Solihull, United Kingdom · www.lrqa.com Hong Kong, China · www.elevatelimited.com
Advania AB 2018-08-04 Content+Cloud Ltd. 2021-12-09 14
Stockholm, Sweden · www.advania.com London, United Kingdom · www.contentandcloud.com
Advania AB 2018-08-04 Visolit AS 2021-08-10 13
Stockholm, Sweden · www.advania.com Asker, Norway · www.visolit.net
Aptos LLC 2020-01-13 Revionics, Inc. 2020-09-09 2
Alpharetta, Georgia · www.aptos.com Austin, Texas · www.revionics.com
Brown Jordan International, Inc. 2016-12-19 Pride Family Brands, Inc. 2019-06-05 2
St. Augustine, Florida · www.brownjordaninc.com Hollywood, Florida · www.pridefamilybrands.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 6 (11%) 859M (6%) 16 (9%) 13.3B (7%)
Software 5 (9%) - 15 (8%) 11.4B (6%)
Information Technology 6 (11%) - 15 (8%) 800M (< 1%)
Internet Software and Services 7 (12%) 2.1B (14%) 14 (7%) 3.7B (2%)
Communications - - 8 (4%) 27.5B (15%)
Financial Services 1 (2%) - 8 (4%) -
Healthcare Services 3 (5%) - 7 (4%) -
Life Science 3 (5%) 8.5B (57%) 6 (3%) 8.6B (5%)
Media 1 (2%) - 6 (3%) 4.1B (2%)
Insurance 1 (2%) - 6 (3%) 3.3B (2%)
Automotive 1 (2%) - 5 (3%) -
Retail - - 4 (2%) 8.1B (4%)
Technology Hardware 1 (2%) 828M (6%) 4 (2%) 2.8B (2%)
Food - - 4 (2%) 1.7B (1%)
Medical Products - - 3 (2%) 11.4B (6%)
Distribution - - 3 (2%) 5.6B (3%)
Education 1 (2%) - 3 (2%) 4.7B (3%)
Environmental 1 (2%) - 3 (2%) 3.5B (2%)
Restaurants 1 (2%) - 3 (2%) 2.3B (1%)
Oil/Gas Exploration - - 3 (2%) 1.6B (1%)
Consumer Products - - 3 (2%) 1.5B (1%)
Metals/Mining - - 3 (2%) 525M (< 1%)
Transportation 1 (2%) - 3 (2%) 40M (< 1%)
Consumer Services 3 (5%) - 3 (2%) -
Real Estate 3 (5%) - 3 (2%) -
Chemicals 1 (2%) 2.5B (17%) 2 (1%) 6.7B (4%)
Machinery - - 2 (1%) 4.6B (2%)
Building Materials - - 2 (1%) 1.8B (1%)
Plastics 1 (2%) - 2 (1%) 838M (< 1%)
Safety/Security - - 2 (1%) 640M (< 1%)
E-Commerce 1 (2%) - 2 (1%) 500M (< 1%)
Information Services - - 2 (1%) 222M (< 1%)
Digital Media 1 (2%) 200M (1%) 2 (1%) 200M (< 1%)
Aerospace - - 2 (1%) -
Leisure 2 (4%) - 2 (1%) -
Renewable Energy 1 (2%) - 2 (1%) -
Staffing 1 (2%) - 2 (1%) -
Utilities - - 1 (1%) 44.4B (24%)
Electrical Equipment - - 1 (1%) 5.7B (3%)
Test/Measurement Equipment - - 1 (1%) 1.1B (1%)
Construction - - 1 (1%) 66M (< 1%)
Agriculture 1 (2%) - 1 (1%) -
Beverages - - 1 (1%) -
Electronics - - 1 (1%) -
Energy Services and Equipment 1 (2%) - 1 (1%) -
Furniture 1 (2%) - 1 (1%) -
Infrastructure - - 1 (1%) -
Manufacturing 1 (2%) - 1 (1%) -
Marketing - - 1 (1%) -
Packaging - - 1 (1%) -
Total 57 $14.9B 188 $183.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 38 (67%) 8.5B (57%) 130 (69%) 140.7B (79%)
  California 7 (12%) - 15 (8%) -
  New York 3 (5%) - 15 (8%) 2.5B (1%)
  Texas 2 (4%) - 10 (5%) 46.0B (26%)
  Illinois 2 (4%) - 9 (5%) 4.2B (2%)
  Massachusetts 3 (5%) - 8 (4%) 1.5B (1%)
  Pennsylvania 2 (4%) - 8 (4%) 23.1B (13%)
  Florida 3 (5%) - 7 (4%) 3.3B (2%)
  Michigan 2 (4%) - 7 (4%) 612M (< 1%)
  Ohio 1 (2%) - 6 (3%) 110M (< 1%)
  Georgia 3 (5%) - 5 (3%) 640M (< 1%)
  Virginia 1 (2%) - 5 (3%) 746M (< 1%)
  Colorado - - 4 (2%) -
  Arizona - - 4 (2%) -
  Minnesota 1 (2%) - 3 (2%) 1.7B (1%)
  Washington 1 (2%) - 3 (2%) 500M (< 1%)
  Connecticut 1 (2%) - 3 (2%) 279M (< 1%)
  Arkansas 1 (2%) - 2 (1%) 27.5B (15%)
  Maryland 1 (2%) - 2 (1%) -
  Indiana - - 2 (1%) 12.2B (7%)
  North Carolina 1 (2%) 8.5B (57%) 1 (1%) 8.5B (5%)
  District of Columbia 1 (2%) - 1 (1%) -
  Oregon 1 (2%) - 1 (1%) -
  Nevada 1 (2%) - 1 (1%) -
  Tennessee - - 1 (1%) 7.3B (4%)
  New Jersey - - 1 (1%) 20M (< 1%)
  Idaho - - 1 (1%) -
  Alabama - - 1 (1%) -
  Vermont - - 1 (1%) -
  South Carolina - - 1 (1%) -
  Oklahoma - - 1 (1%) -
  Missouri - - 1 (1%) -
United Kingdom 5 (9%) 828M (6%) 10 (5%) 4.5B (3%)
Germany 1 (2%) 2.5B (17%) 7 (4%) 9.1B (5%)
France 2 (4%) 200M (1%) 6 (3%) 6.6B (4%)
Canada 2 (4%) 859M (6%) 5 (3%) 4.4B (2%)
  Ontario 1 (2%) - 2 (1%) -
  Manitoba 1 (2%) 859M (6%) 1 (1%) 859M (< 1%)
  Alberta - - 1 (1%) 3.5B (2%)
  Quebec - - 1 (1%) -
India 2 (4%) - 5 (3%) 40M (< 1%)
Netherlands 1 (2%) - 4 (2%) 4.2B (2%)
Denmark 1 (2%) - 3 (2%) -
China - - 3 (2%) -
Norway 1 (2%) 2.1B (14%) 2 (1%) 2.8B (2%)
Sweden 1 (2%) - 2 (1%) 1.4B (1%)
Argentina 1 (2%) - 1 (1%) -
Cyprus 1 (2%) - 1 (1%) -
Switzerland 1 (2%) - 1 (1%) -
Ireland - - 1 (1%) 2.0B (1%)
Belgium - - 1 (1%) 1.4B (1%)
Italy - - 1 (1%) 576M (< 1%)
Bermuda - - 1 (1%) -
Czech Republic - - 1 (1%) -
Japan - - 1 (1%) -
South Korea - - 1 (1%) -
Singapore - - 1 (1%) -
Domestic 38 (67%) 8.5B (57%) 130 (69%) 140.7B (79%)
Cross-border 19 (33%) 6.4B (43%) 58 (31%) 36.8B (21%)
Total 57 $14.9B 188 $177.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 26 (46%) 11.0B (73%) 68 (36%) 25.6B (15%)
Buyout (LBO, MBO, MBI) 5 (9%) 200M (1%) 33 (18%) 12.6B (7%)
Growth Capital 14 (25%) - 30 (16%) -
Going Private 3 (5%) 3.8B (25%) 15 (8%) 114.9B (67%)
Divestiture 2 (4%) - 13 (7%) 17.3B (10%)
Stake Purchase 1 (2%) - 12 (6%) -
Venture 5 (9%) - 11 (6%) -
Recapitalization 1 (2%) - 5 (3%) 66M (< 1%)
PIPE - - 1 (1%) -
Total 57 $14.9B 188 $170.5B

Exits by Deal Type

Type Total # Value
Secondary Sale 32 (27%) 16.5B (16%)
IPO 28 (23%) -
Trade Sale - Public Company 26 (22%) 80.1B (79%)
Trade Sale 19 (16%) 5.0B (5%)
Bankruptcy 4 (3%) -
Sold to Management 3 (3%) -
Merger 2 (2%) -
Recapitalization 2 (2%) -
Unknown 2 (2%) -
SPAC 1 (1%) -
Stake Sale 1 (1%) -
Total 120 $101.5B

Top M&A Advisors

Financial Deals
Goldman Sachs
 26
J.P. Morgan Securities
 3
Citi
 2
Legal Deals
Weil Gotshal & Manges
 8
Fried Frank Harris Shriver & Jacobson
 6
Sullivan & Cromwell
 4

Deal Values

buy # Total
> $1B 28 $173.4B
$100M to $1B 19 $9.7B
< $100M 4 $143M
TOTAL $183.3B
Largest Energy Future Holdings Corp.
$44.4B (2007-10-10)
sell # Total
> $1B 22 $98.4B
$100M to $1B 7 $3.0B
< $100M 3 $136M
TOTAL $101.5B
Largest Alltel Corp.
$28.1B (2008-06-04)

M&A Connections

Deals
Acquired from
Investor(s)
37%
70 (37%)
Strategic(s)
7%
14 (7%)
Exited to
Investor(s)
28%
33 (28%)
Strategic(s)
40%
48 (40%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

155.0B USD

Established

1986

Specialist/Generalist

Generalist

Subsidiary of

The Goldman Sachs Group

Leadership

Richard Friedman

Head of the Merchant Banking

FAQ

When was Goldman Sachs Merchant Banking founded?

Goldman Sachs Merchant Banking was founded in 1986.

What type of investor is Goldman Sachs Merchant Banking?

Goldman Sachs Merchant Banking is a private equity firm.

Where is Goldman Sachs Merchant Banking headquartered?

Goldman Sachs Merchant Banking is headquartered in New York, New York.

How much capital does Goldman Sachs Merchant Banking have under management?

Goldman Sachs Merchant Banking has 155.0B USD under management.

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