Lake Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

Lake Capital’s most common sectors for investment arebusiness services (37%) and marketing (22%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (40%) and stake purchase (34%). In total, Lake Capital has invested in 18 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2001 when it acquired Nth Degree for $150M.

In the last 3 years, Lake Capital has exited 1 company. The Firm’s most common exit type is secondary buyout (25%). Lake Capital’s largest (disclosed) exit occurred in 2012 when it sold Hyper Marketing for $460M.

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M&A Summary

  • M&A Total Activity57
    • M&A Buy Activity33
    • M&A Sell Activity24
  • Total Sectors Invested 9
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 10

Lake Capital

Lake Capital

875 North Michigan Avenue, Suite 3520,
Chicago, Illinois 60611
United States
(312) 640-7050
www.lakecapital.com
info@lakecapital.com

Lake Capital is a private equity firm that targets a limited number of middle-market, service-based companies. The firm typically allocates $50 to $75 million equity to each portfolio company initiative. However, with seller financing, third-party debt, and co-investment opportunities, significant capital (in addition to the initial equity allocation) is available to each initiative. The service-based businesses the firm pursues include marketing services, finance-related services, specialty services, healthcare services, consumer services, technology services, business process outsourcing services, and marketing services. The firm is typically interested in buyout, partnership and start-up opportunities. Lake Capital was formed in 1998 and is based in Chicago, Illinois.


Investment Criteria

Sectors of Interest: Business Services, Communications, Consumer Products, Consumer Services, Education, Energy Services and Equipment, Environmental, Financial Services, Healthcare Services, Information Technology, Internet Software and Services, Marketing, Media, Software, Staffing

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Secondary Buyout

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 10 25
Investment Size - 75
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 33 - - - - - 33
vol $275M $275M
Sell (0.2/yr) # 23 - - 1 - - 24
vol $1.1B $119M $1.2B
  57

Most Recent M&A

Company Date Value Type
The Engine Group Ltd. 2022-03-03 119M GBP Trade Sale
London, United Kingdom · www.theenginegroup.com
Whitney, Bradley and Brown, Inc. 2017-10-12 - Secondary Sale
Reston, Virginia · www.wbbinc.com
APFS LLC 2016-12-19 - Secondary Sale
Chicago, Illinois · www.addisongroup.com
Empower Software Solutions, Inc. 2016-01-14 - Trade Sale
Orlando, Florida · www.empowersoftware.com
The Engine Group Ltd. 2014-09-01 - Secondary Buyout
London, United Kingdom · www.theenginegroup.com
ORC International, Inc. 2014-09-01 - Trade Sale
Princeton, New Jersey · www.opinionresearch.com
Trailer Park 2014-09-01 - Trade Sale
Hollywood, California · www.trailerpark.com
APFS LLC 2013-09-30 - Buyout (LBO, MBO, MBI)
Chicago, Illinois · www.addisongroup.com
FishNet Consulting, Inc. (dba FishNet Security, Inc.) 2013-01-23 - Secondary Sale
Kansas City, Missouri · www.fishnetsecurity.com
Vestcom, Inc. 2012-12-13 - Secondary Sale
Little Rock, Arkansas · www.vestcom.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Business Services 1 (50%) - 12 (36%) 150M (55%)
Marketing 1 (50%) - 7 (21%) 125M (45%)
Communications - - 3 (9%) -
Information Technology - - 3 (9%) -
Consumer Services - - 2 (6%) -
Healthcare Services - - 2 (6%) -
Staffing - - 2 (6%) -
Energy Services and Equipment - - 1 (3%) -
Software - - 1 (3%) -
Total 2 - 33 $275M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 2 (100%) - 31 (94%) 275M (100%)
  Illinois - - 6 (18%) -
  New Jersey - - 4 (12%) 125M (45%)
  Pennsylvania - - 3 (9%) -
  Texas 1 (50%) - 2 (6%) -
  New York - - 2 (6%) -
  Kentucky 1 (50%) - 1 (3%) -
  Georgia - - 1 (3%) 150M (55%)
  Virginia - - 1 (3%) -
  Oklahoma - - 1 (3%) -
  North Carolina - - 1 (3%) -
  Missouri - - 1 (3%) -
  Maryland - - 1 (3%) -
  Indiana - - 1 (3%) -
  Florida - - 1 (3%) -
  District of Columbia - - 1 (3%) -
  Connecticut - - 1 (3%) -
  California - - 1 (3%) -
  Arkansas - - 1 (3%) -
United Kingdom - - 1 (3%) -
Canada - - 1 (3%) -
  Ontario - - 1 (3%) -
Domestic 2 (100%) - 31 (94%) 275M (100%)
Cross-border - - 2 (6%) -
Total 2 - 33 $275M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) - - 13 (39%) 275M (100%)
Stake Purchase - - 11 (33%) -
Secondary Buyout 1 (50%) - 4 (12%) -
Consolidation - - 2 (6%) -
Divestiture - - 1 (3%) -
Growth Capital 1 (50%) - 1 (3%) -
Recapitalization - - 1 (3%) -
Total 2 - 33 $275M

Exits by Deal Type

Type Total # Value
Trade Sale 10 (42%) 293M (24%)
Secondary Sale 6 (25%) -
Trade Sale - Public Company 5 (21%) 949M (76%)
IPO 2 (8%) -
Merger 1 (4%) -
Total 24 $1.2B

Deal Values

buy # Total
$100M to $1B 2 $275M
TOTAL $275M
Largest Nth Degree, Inc.
$150M (2001-04-19)
sell # Total
$100M to $1B 4 $1.1B
< $100M 4 $103M
TOTAL $1.2B
Largest Hyper Marketing, Inc.
$460M (2012-11-09)

M&A Connections

Deals
Acquired from
Investor(s)
12%
4 (12%)
Exited to
Investor(s)
25%
6 (25%)
Strategic(s)
25%
6 (25%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

1.3B USD

Established

1998

Specialist/Generalist

Generalist

Leadership

Paul Yovovich

Co-Founder & Principal

Terence Graunke

Co-Founder & Principal

Michael Hayes

CFO

Collin Abert

Principal

Douglas Rescho

Principal

FAQ

When was Lake Capital founded?

Lake Capital was founded in 1998.

What type of investor is Lake Capital?

Lake Capital is a private equity firm.

Where is Lake Capital headquartered?

Lake Capital is headquartered in Chicago, Illinois.

How much capital does Lake Capital have under management?

Lake Capital has 1.3B USD under management.

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