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Lone Star Funds Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Lone Star Funds has acquired 8 companies.

Lone Star Funds’ most common sectors for investment arechemicals (15%) and building materials (15%) . The Firm’s most common investment types include secondary buyout (47%) and divestiture (29%). In total, Lone Star Funds has invested in 10 US states and 10 different countries. Its largest (disclosed) acquisition occurred in 2015 when it acquired Home Properties for $7.6B.

In the last 3 years, Lone Star Funds has exited 3 companies. The Firm’s most common exit type is secondary buyout (56%). Lone Star Funds’ largest (disclosed) exit occurred in 2021 when it sold MBCC Group for $5.7B.

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M&A Summary

  • M&A Total Activity46
    • M&A Buy Activity28
    • M&A Sell Activity18
  • Total Sectors Invested 15
  • Total Countries Invested 10
  • M&A Buy/Sell Connections 14
  • M&A Advisors 12

Lone Star Funds

2711 North Haskell Avenue, Suite 1700 (and Suite 2150),
Dallas, Texas 75204
United States
(214) 754-8300
www.lonestarfunds.com

Lone Star Funds is a global private investment firm focused on investing across several strategies. The Firm's primary investment activity surrounds financial services and real estate. Lone Star generally looks to acquire distressed debt and equity assets including corporate, commercial real estate, single family residential and consumer debt products as well as banks and asset rich operating companies. Lone Star was formed in 1995 and is based in Dallas, Texas with additional offices across Western Europe and Asia.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Building Materials, Business Services, Chemicals, Electrical Equipment, Energy Services and Equipment, Financial Services, Life Science, Manufacturing, Real Estate, Restaurants, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Special Situations/Distressed, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Nordic, Asia/Pacific

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.0/yr) # 18 2 2 3 2 1 28
vol $15.4B $6.2B $520M $3.0B $25.1B
Sell (1.4/yr) # 11 4 - 1 1 1 18
vol $1.8B $5.7B $7.6B
  46
+1003040253545500

Most Recent M&A

Company Date Value Type
Tokyo Beta 2025-04-02 - Secondary Sale
Tokyo, Japan · www.tokyobeta.jp
RadiciGroup - Specialty Chemicals and High Performance Polymers Business 2025-02-24 - Divestiture
Gandino, Italy
Kidde Global Solutions 2024-12-02 3.0B USD Divestiture
Mebane, North Carolina · www.kidde.com
AOC LLC 2024-10-28 - Trade Sale
Collierville, Tennessee · www.aocformulations.com
Eriks NV 2024-05-03 - Buyout (LBO, MBO, MBI)
Utrecht, Netherlands · www.eriks.com
CentroMotion 2023-06-20 - Secondary Buyout
Waukesha, Wisconsin · www.centromotion.com
Carlisle Fluid Technologies 2023-06-15 520M USD Divestiture
Scottsdale, Arizona · www.carlisleft.com
Venturi Restoration 2023-03-28 - Trade Sale
Schaumburg, Illinois · www.venturirestoration.com
Titan Acquisition Holdings 2023-02-03 - Secondary Buyout
Portland, Oregon · www.vigor.net
Senqcia Corp. 2022-03-31 - Secondary Buyout
Tokyo, Japan · www.senqcia.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
SPX FLOW, Inc. 2021-12-13 Hydraulic Technologies 2024-06-04 2
Charlotte, North Carolina · www.spxflow.com Rockford, Illinois · www​.hydraulictech​nolo​gies​.com
SPX FLOW, Inc. 2021-12-13 SPX FLOW - Air Treatment Business 2022-10-06 1
Charlotte, North Carolina · www.spxflow.com Charlotte, North Carolina
Xella International Sarl 2016-12-01 URSA Insulation S.A 2022-01-11 2
Duisburg, Germany · www.xella.com Madrid, Spain · www.ursa.com
Xella International Sarl 2016-12-01 Macon Deva SA 2017-12-19 1
Duisburg, Germany · www.xella.com Deva, Romania · www.macon.ro
Xella International Sarl 2016-12-01 Fermacell GmbH 2017-11-07 1
Duisburg, Germany · www.xella.com Duisburg, Germany · www.fermacell.com
Balta Industries NV 2015-06-15 Bentley Mills, Inc. 2017-02-09 1
Sint-Baafs-Vijve, Belgium · www.baltagroup.com City of Industry, California · www.bentleymills.com

M&A by Sector

Sector Current # Value All-time # Value
Chemicals 2 (13%) 2.4B (13%) 4 (14%) 6.7B (26%)
Building Materials 2 (13%) - 4 (14%) 1.4B (6%)
Leisure - - 3 (11%) 1.4B (6%)
Retail 1 (7%) - 3 (11%) -
Real Estate 2 (13%) 8.3B (46%) 2 (7%) 8.3B (33%)
Manufacturing 2 (13%) 4.3B (24%) 2 (7%) 4.3B (17%)
Financial Services - - 2 (7%) -
Safety/Security 1 (7%) 3.0B (17%) 1 (4%) 3.0B (12%)
Apparel/Textiles 1 (7%) - 1 (4%) -
Business Services - - 1 (4%) -
Construction - - 1 (4%) -
Distribution 1 (7%) - 1 (4%) -
Engineering 1 (7%) - 1 (4%) -
Machinery 1 (7%) - 1 (4%) -
Marine 1 (7%) - 1 (4%) -
Total 15 $18.0B 28 $25.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 8 (53%) 17.3B (96%) 13 (46%) 19.0B (76%)
  North Carolina 3 (20%) 6.8B (38%) 3 (11%) 6.8B (27%)
  Tennessee 1 (7%) 2.4B (13%) 2 (7%) 2.4B (10%)
  New York 1 (7%) 7.6B (42%) 1 (4%) 7.6B (30%)
  Arizona 1 (7%) 520M (3%) 1 (4%) 520M (2%)
  Wisconsin 1 (7%) - 1 (4%) -
  Oregon 1 (7%) - 1 (4%) -
  Texas - - 1 (4%) 1.4B (6%)
  Georgia - - 1 (4%) 270M (1%)
  Illinois - - 1 (4%) -
  Alabama - - 1 (4%) -
Japan 1 (7%) - 3 (11%) -
Netherlands 2 (13%) 720M (4%) 2 (7%) 720M (3%)
Belgium 2 (13%) - 2 (7%) -
Germany 1 (7%) - 2 (7%) 3.6B (14%)
United Kingdom - - 2 (7%) 148M (1%)
Italy 1 (7%) - 1 (4%) -
Ireland - - 1 (4%) 1.0B (4%)
Spain - - 1 (4%) 682M (3%)
South Korea - - 1 (4%) -
Domestic 8 (53%) 17.3B (96%) 13 (46%) 19.0B (76%)
Cross-border 7 (47%) 720M (4%) 15 (54%) 6.1B (24%)
Total 15 $18.0B 28 $25.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 7 (47%) 2.4B (13%) 13 (46%) 3.2B (13%)
Divestiture 5 (33%) 4.2B (24%) 8 (29%) 9.2B (37%)
Buyout (LBO, MBO, MBI) 1 (7%) - 4 (14%) 1.0B (4%)
Going Private 2 (13%) 11.4B (63%) 3 (11%) 11.7B (46%)
Total 15 $18.0B 28 $25.1B

Exits by Deal Type

Type Total # Value
Secondary Sale 10 (56%) 1.8B (24%)
Trade Sale 5 (28%) -
Trade Sale - Public Company 1 (6%) 5.7B (76%)
IPO 1 (6%) -
Spin Off 1 (6%) -
Total 18 $7.6B

Top M&A Advisors

Financial Deals
RBC Capital Markets
 3
Citi
 2
Lazard
 1
Legal Deals
Gibson, Dunn & Crutcher
 4
Kirkland & Ellis
 2
Sullivan & Cromwell
 1

Deal Values

buy # Total
> $1B 7 $22.8B
$100M to $1B 5 $2.3B
TOTAL $25.1B
Largest Home Properties, Inc.
$7.6B (2015-06-22)
sell # Total
> $1B 2 $7.6B
TOTAL $7.6B
Largest MBCC Group
$5.7B (2021-11-11)

M&A Connections

Deals
Acquired from
Investor(s)
43%
12 (43%)
Strategic(s)
25%
7 (25%)
Exited to
Investor(s)
50%
9 (50%)
Strategic(s)
39%
7 (39%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

85.0B USD

Established

1995

Specialist/Generalist

Generalist

Leadership

John Grayken

Founder & Chairman

William Young

Global President & Chief Legal Officer

Andre Collin

President

Anthony Messina

President

Donald Quintin

President

FAQ

When was Lone Star Funds founded?

Lone Star Funds was founded in 1995.

What type of investor is Lone Star Funds?

Lone Star Funds is a private equity firm.

Where is Lone Star Funds headquartered?

Lone Star Funds is headquartered in Dallas, Texas.

How much capital does Lone Star Funds have under management?

Lone Star Funds has 85.0B USD under management.

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