HarbourVest Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, HarbourVest Partners has acquired 12 companies. It has also invested in 1 other.

HarbourVest Partners’ most common sectors for investment aresoftware (12%) and information technology (12%) . The Firm’s most common investment types include secondary buyout (25%) and buyout (lbo, mbo, mbi) (19%). 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 24 companies. The Firm’s most common exit type is trade sale (44%). HarbourVest Partners’ largest (disclosed) exit occurred in 2023 when it sold Triton International for $13.3B.

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M&A Summary

  • M&A Total Activity353
    • M&A Buy Activity222
    • M&A Sell Activity131
  • Total Sectors Invested 46
  • Total Countries Invested 30
  • M&A Buy/Sell Connections 203
  • 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 ≤ '19 '20 '21 '22 '23 '24 T
Buy (4.4/yr) # 200 9 13 - - - 222
vol $194.3B $3.8B $7.6B $205.8B
Sell (6.0/yr) # 102 6 9 5 6 4 132
vol $79.4B $500M $1.0B $15.1B $96.1B
  354

Most Recent M&A

Company Date Value Type
Nonni's Foods LLC 2024-07-24 - Trade Sale
Tulsa, Oklahoma · www.nonnis.com
Galderma SA 2024-03-22 - IPO
Zug, Switzerland · www.galderma.com
Jana Small Finance Bank Ltd. 2024-02-14 - IPO
Bengaluru, India · www.janabank.com
Mineral, Inc. 2024-01-09 - Trade Sale
Portland, Oregon · www.trustmineral.com
Laboratoire Equilibre Attitude 2023-11-22 - Trade Sale
Vallauris, France · www.ea-pharma.com
Profi Rom Food S.R.L. 2023-10-30 1.5B EUR Trade Sale
Timisoara, Romania · www.profi.ro
Horizon Telcom, Inc. 2023-10-24 385M USD Trade Sale
Columbus, Ohio · www.horizonconnects.com
Towne Park Ltd. 2023-07-05 - Secondary Sale
Annapolis, Maryland · www.townepark.com
Elatec GmbH 2023-05-30 - Secondary Sale
Puchheim, Germany · www.elatec-rfid.com
Triton International Ltd. 2023-04-12 13.3B USD Trade Sale
Hamilton, Bermuda · www.tritoninternational.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
HUB International Ltd. 2013-08-05 Western Growers Insurance Services 2024-11-04 448
Chicago, Illinois · www.hubinternational.com , California · www.wgis.com
HUB International Ltd. 2013-08-05 WestStar Insurance Agency, Inc. 2024-10-09 447
Chicago, Illinois · www.hubinternational.com El Paso, Texas
Neighborly 2021-07-08 Rainbow Restoration of Greenville SC 2024-08-07 2
Waco, Texas · www.neighborlybrands.com Greenville, South Carolina · www.rainbowrestores.com
Neighborly 2021-07-08 Precision Garage Door Tri-State 2024-07-23 1
Waco, Texas · www.neighborlybrands.com Pompton Plains, New Jersey · www.pdstristate.com
Staples, Inc. 2017-06-28 DEX Imaging, Inc. 2024-04-23 2
Framingham, Massachusetts · www.staples.com Tampa, Florida · www.deximaging.com
Curia Global, Inc. 2017-06-06 Whitehouse Analytical Laboratories 2024-03-14 3
Albany, New York · www.curiaglobal.com Lebanon, New Jersey · www.whitehouselabs.com
HUB International Ltd. 2013-08-05 Gottschling - Book of Business 2024-01-05 446
Chicago, Illinois · www.hubinternational.com Vienna, Virginia
Risk Strategies Co., Inc. 2015-10-20 InterWest Insurance Services - Business Unit 2023-10-24 103
Boston, Massachusetts · www.risk-strategies.com , United States
Risk Strategies Co., Inc. 2015-10-20 First Insurance Group Ohio 2023-06-30 102
Boston, Massachusetts · www.risk-strategies.com Archbold, Ohio · www.firstinsurancegrp.com
Risk Strategies Co., Inc. 2015-10-20 Johnson Insurance Services LLC 2023-04-26 101
Boston, Massachusetts · www.risk-strategies.com , Wisconsin

M&A by Sector

Sector Current # Value All-time # Value
Software 8 (10%) 1.6B (3%) 26 (12%) 18.9B (9%)
Information Technology 8 (10%) 2.5B (5%) 25 (11%) 3.3B (2%)
Internet Software and Services 10 (12%) 3.0B (6%) 18 (8%) 3.2B (2%)
Financial Services 8 (10%) 5.0B (11%) 15 (7%) 15.9B (8%)
Communications 2 (2%) 402M (1%) 14 (6%) 3.6B (2%)
Healthcare Services 5 (6%) - 13 (6%) 13.5B (7%)
Insurance 7 (8%) 6.0B (13%) 12 (5%) 16.6B (8%)
Business Services 2 (2%) - 9 (4%) -
Life Science 3 (4%) 614M (1%) 8 (4%) 3.3B (2%)
Chemicals 3 (4%) 13.4B (28%) 6 (3%) 17.5B (8%)
Retail 2 (2%) 6.9B (15%) 5 (2%) 8.7B (4%)
Food 3 (4%) - 5 (2%) 5.3B (3%)
E-Commerce 1 (1%) - 4 (2%) 10.6B (5%)
Consumer Products 3 (4%) - 4 (2%) -
Consumer Services 3 (4%) - 4 (2%) -
Information Services 1 (1%) - 3 (1%) 12.7B (6%)
Leisure 1 (1%) - 3 (1%) 2.3B (1%)
Marketing 2 (2%) 1.5B (3%) 3 (1%) 1.6B (1%)
Distribution 2 (2%) - 3 (1%) 815M (< 1%)
Packaging 1 (1%) 760M (2%) 3 (1%) 760M (< 1%)
Manufacturing - - 3 (1%) 214M (< 1%)
Technology Hardware - - 3 (1%) -
Gaming - - 2 (1%) 32.6B (16%)
Semiconductors - - 2 (1%) 17.6B (9%)
Transportation 1 (1%) 3.7B (8%) 2 (1%) 4.7B (2%)
Test/Measurement Equipment 1 (1%) 780M (2%) 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%)
Education 1 (1%) - 2 (1%) -
Electrical Equipment - - 2 (1%) -
Marine - - 2 (1%) -
Agriculture 1 (1%) 880M (2%) 1 (< 1%) 880M (< 1%)
Automotive - - 1 (< 1%) 181M (< 1%)
Environmental - - 1 (< 1%) 134M (< 1%)
Building Materials - - 1 (< 1%) -
Digital Media - - 1 (< 1%) -
Franchising 1 (1%) - 1 (< 1%) -
Furniture - - 1 (< 1%) -
Infrastructure - - 1 (< 1%) -
Machinery - - 1 (< 1%) -
Medical Products - - 1 (< 1%) -
Metals/Mining 1 (1%) - 1 (< 1%) -
Plastics - - 1 (< 1%) -
Renewable Energy 1 (1%) - 1 (< 1%) -
Safety/Security - - 1 (< 1%) -
Total 84 $47.0B 223 $205.8B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 49 (58%) 25.6B (54%) 134 (60%) 137.0B (67%)
  Texas 10 (12%) 4.1B (9%) 21 (9%) 27.6B (13%)
  California 9 (11%) 6.0B (13%) 18 (8%) 16.6B (8%)
  New York 4 (5%) - 10 (5%) 12.7B (6%)
  Massachusetts 3 (4%) 7.7B (16%) 9 (4%) 9.7B (5%)
  Florida 3 (4%) - 9 (4%) 3.4B (2%)
  Illinois 2 (2%) 4.4B (9%) 6 (3%) 17.7B (9%)
  Georgia 3 (4%) - 5 (2%) -
  Connecticut 1 (1%) - 5 (2%) -
  Maryland - - 5 (2%) 634M (< 1%)
  North Carolina - - 5 (2%) 134M (< 1%)
  Nevada 2 (2%) - 4 (2%) 30.7B (15%)
  Ohio 2 (2%) - 4 (2%) 815M (< 1%)
  Colorado 1 (1%) - 4 (2%) 294M (< 1%)
  Virginia 1 (1%) - 4 (2%) -
  New Jersey - - 4 (2%) 1.2B (1%)
  Tennessee 2 (2%) - 3 (1%) -
  Minnesota 1 (1%) - 3 (1%) 143M (< 1%)
  Michigan 1 (1%) - 2 (1%) -
  Pennsylvania - - 2 (1%) 11.4B (6%)
  Missouri 1 (1%) 2.0B (4%) 1 (< 1%) 2.0B (1%)
  Arkansas 1 (1%) 1.5B (3%) 1 (< 1%) 1.5B (1%)
  Kansas 1 (1%) - 1 (< 1%) -
  Alabama 1 (1%) - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) 390M (< 1%)
  Wisconsin - - 1 (< 1%) 214M (< 1%)
  Louisiana - - 1 (< 1%) -
  Delaware - - 1 (< 1%) -
  Washington - - 1 (< 1%) -
  Oregon - - 1 (< 1%) -
  Oklahoma - - 1 (< 1%) -
United Kingdom 8 (10%) 1.6B (3%) 17 (8%) 13.4B (7%)
Germany - - 9 (4%) 3.1B (2%)
Canada 4 (5%) - 7 (3%) -
  Ontario 1 (1%) - 4 (2%) -
  Quebec 1 (1%) - 1 (< 1%) -
  British Columbia 1 (1%) - 1 (< 1%) -
  Alberta 1 (1%) - 1 (< 1%) -
Netherlands 3 (4%) 11.4B (24%) 7 (3%) 13.7B (7%)
France 2 (2%) - 4 (2%) 2.4B (1%)
Australia 2 (2%) 880M (2%) 4 (2%) 1.2B (1%)
Belgium 1 (1%) - 4 (2%) 181M (< 1%)
South Africa 2 (2%) 760M (2%) 3 (1%) 2.0B (1%)
India 2 (2%) - 3 (1%) -
Italy 1 (1%) - 3 (1%) 2.9B (1%)
Spain 1 (1%) 2.0B (4%) 3 (1%) 2.0B (1%)
Bermuda 1 (1%) - 3 (1%) 1.0B (< 1%)
Sweden 1 (1%) - 3 (1%) 118M (< 1%)
Israel 1 (1%) - 2 (1%) -
Switzerland - - 2 (1%) 10.6B (5%)
Poland - - 2 (1%) 3.3B (2%)
South Korea 1 (1%) 3.7B (8%) 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%) -
Kenya 1 (1%) - 1 (< 1%) -
New Zealand 1 (1%) - 1 (< 1%) -
Denmark - - 1 (< 1%) 5.0B (2%)
Japan - - 1 (< 1%) 2.1B (1%)
Channel Islands - - 1 (< 1%) -
Ireland - - 1 (< 1%) -
Romania - - 1 (< 1%) -
Singapore - - 1 (< 1%) -
Domestic 49 (58%) 25.6B (54%) 134 (60%) 137.0B (67%)
Cross-border 35 (42%) 21.4B (46%) 88 (40%) 67.6B (33%)
Total 84 $47.0B 222 $204.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 25 (30%) 10.1B (21%) 55 (25%) 21.1B (10%)
Buyout (LBO, MBO, MBI) 17 (20%) 4.6B (10%) 41 (18%) 23.1B (11%)
Growth Capital 12 (14%) - 30 (13%) -
Going Private 7 (8%) 11.9B (25%) 27 (12%) 104.0B (52%)
Venture 3 (4%) - 23 (10%) 30M (< 1%)
Divestiture 3 (4%) 11.4B (24%) 13 (6%) 32.9B (16%)
Recapitalization 2 (2%) - 11 (5%) 2.0B (1%)
Add-on Acquisition 9 (11%) 9.0B (19%) 10 (4%) 9.0B (4%)
Stake Purchase 5 (6%) - 7 (3%) -
PIPE - - 3 (1%) -
Consolidation - - 2 (1%) 9.5B (5%)
Merger 1 (1%) - 1 (< 1%) -
Total 84 $47.0B 223 $201.6B

Exits by Deal Type

Type Total # Value
Secondary Sale 34 (26%) 14.2B (15%)
Trade Sale - Public Company 31 (23%) 70.4B (73%)
Trade Sale 28 (21%) 9.5B (10%)
IPO 25 (19%) -
Merger 7 (5%) 2.0B (2%)
Bankruptcy 3 (2%) -
Recapitalization 1 (1%) -
SPAC 1 (1%) -
Stake Sale 1 (1%) -
Unknown 1 (1%) -
Total 132 $96.1B

Top M&A Advisors

Financial Deals
Credit Suisse Investment Banking
 3
Citigroup Investment Banking
 2
BofA Securities
 2
Legal Deals
Herbert Smith Freehills
 1
Debevoise & Plimpton
 1
Cleary Gottlieb Steen & Hamilton
 1

Deal Values

buy # Total
> $1B 41 $197.7B
$100M to $1B 20 $7.9B
< $100M 6 $228M
TOTAL $205.8B
Largest Caesars Entertainment Corp. (old)
$30.7B (2008-01-01)
sell # Total
> $1B 21 $88.0B
$100M to $1B 15 $8.0B
< $100M 3 $167M
TOTAL $96.1B
Largest Triton International Ltd.
$13.3B (2023-04-12)

M&A Connections

Deals
Acquired from
Investor(s)
33%
73 (33%)
Strategic(s)
7%
15 (7%)
Exited to
Investor(s)
26%
34 (26%)
Strategic(s)
48%
63 (48%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

86.0B USD

Established

1978

Specialist/Generalist

Generalist

Leadership

Adam Freedman

Managing Director

Alex Rogers

Managing Director

Alex Wolf

Managing Director

Aliza Firestone Goren

Managing Director

Amanda Outerbridge

Managing Director

FAQ

When was HarbourVest Partners founded?

HarbourVest Partners was founded in 1978.

What type of investor is HarbourVest Partners?

HarbourVest Partners is a private equity firm.

Where is HarbourVest Partners headquartered?

HarbourVest Partners is headquartered in Boston, Massachusetts.

How much capital does HarbourVest Partners have under management?

HarbourVest Partners has 86.0B USD under management.

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