Monroe Capital Mergers and Acquisitions Summary

Lender Profile

In the last 3 years, Monroe Capital has acquired 26 companies. It has also invested in 6 others.

Monroe Capital’s most common sectors for investment arebusiness services (9%) and information technology (7%) . The Firm’s most common investment types include growth capital (32%) and buyout (lbo, mbo, mbi) (29%). In total, Monroe Capital has invested in 33 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2018 when it acquired MindBody for $1.9B.

In the last 3 years, Monroe Capital has exited 16 companies. The Firm’s most common exit type is trade sale (51%). Monroe Capital’s largest (disclosed) exit occurred in 2024 when it sold Recorded Future for $2.7B.

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M&A Summary

M&A Total Activity167
- M&A Buy Activity116
- M&A Sell Activity51
Total Sectors Invested 42
Total Countries Invested 2
M&A Buy/Sell Connections 108

Monroe Capital

Monroe Capital LLC

Transaction Criteria	Min	Max
Target Revenue	10	1,000
Target EBITDA	3	35
Investment Size	-	-
Enterprise Value	-	-
values in millions of USD

Transaction Criteria

Min

Max

Target Revenue

1,000

Target EBITDA

Investment Size

Enterprise Value

values in millions of USD

Year	≤ '19	'20	'21	'22	'23	'24	T
Buy (7.0/yr)	#	81	3	4	5	11	12	116
vol	$2.7B	$193M			$180M	$350M	$3.4B
Sell (4.4/yr)	#	31	6	5	7	3	1	53
vol	$872M				$355M	$2.7B	$3.9B
	169

Year

≤ '19

'20

'21

'22

'23

'24

Buy (7.0/yr)

116

vol

$2.7B

$193M

$180M

$350M

$3.4B

Sell (4.4/yr)

vol

$872M

$355M

$2.7B

$3.9B

169

Company	Date	Value	Type
Recorded Future, Inc.	2024-09-12	2.7B USD	Trade Sale
Somerville, Massachusetts · www.recordedfuture.com
GA Water & Fire, Inc.	2024-09-12	-	Buyout (LBO, MBO, MBI)
Cumming, Georgia · www.georgiawaterandfire.com
Property Medics of Georgia	2024-09-12	-	Buyout (LBO, MBO, MBI)
Peachtree Corners, Georgia · www.propertymedicsofga.com
NorthEast Contracting Corp.	2024-09-04	-	Recapitalization
Lorton, Virginia · www.neccroofing.com
Sunstates Security	2024-08-09	-	Buyout (LBO, MBO, MBI)
Raleigh, North Carolina · www.sunstatessecurity.com
Summit Professional Education LLC	2024-05-15	-	Secondary Buyout
Franklin, Tennessee · www.summit-education.com
Open Source Controls	2024-05-09	-	Buyout (LBO, MBO, MBI)
Nashville, Tennessee · www.www.opensourcecontrols.com
Kimbro Mechanical LLC	2024-05-09	-	Buyout (LBO, MBO, MBI)
Nashville, Tennessee · www.kimbromechanical.com
Interstate AC Service LLC	2024-05-09	-	Buyout (LBO, MBO, MBI)
Nashville, Tennessee · www.interstateac.com
Sheer Logistics	2024-04-02	-	Acquisition Financing
Chesterfield, Missouri · www.sheerlogistics.com
View All >>

Company

Date

Value

Type

Recorded Future, Inc.

2024-09-12

2.7B USD

Trade Sale

Somerville, Massachusetts · www.recordedfuture.com

GA Water & Fire, Inc.

2024-09-12

Buyout (LBO, MBO, MBI)

Cumming, Georgia · www.georgiawaterandfire.com

Property Medics of Georgia

2024-09-12

Buyout (LBO, MBO, MBI)

Peachtree Corners, Georgia · www.propertymedicsofga.com

NorthEast Contracting Corp.

2024-09-04

Recapitalization

Lorton, Virginia · www.neccroofing.com

Sunstates Security

2024-08-09

Buyout (LBO, MBO, MBI)

Raleigh, North Carolina · www.sunstatessecurity.com

Summit Professional Education LLC

2024-05-15

Secondary Buyout

Franklin, Tennessee · www.summit-education.com

Open Source Controls

2024-05-09

Buyout (LBO, MBO, MBI)

Nashville, Tennessee · www.www.opensourcecontrols.com

Kimbro Mechanical LLC

2024-05-09

Buyout (LBO, MBO, MBI)

Nashville, Tennessee · www.kimbromechanical.com

Interstate AC Service LLC

2024-05-09

Buyout (LBO, MBO, MBI)

Nashville, Tennessee · www.interstateac.com

Sheer Logistics

2024-04-02

Acquisition Financing

Chesterfield, Missouri · www.sheerlogistics.com

View All >>

Company	Acquired	Add-On/Sale	Date	#
ZeroFox Holdings, Inc.	2024-02-06	Identity Theft Guard Solutions, Inc.	2024-11-25	1
Baltimore, Maryland · www.zerofox.com	Beaverton, Oregon · www.idx.us
MEI Rigging & Crating LLC	2023-07-06	Able Machinery Movers LLC	2024-01-09	4
Albany, Oregon · www.meiriggingcrating.com	Grapevine, Texas · www.ablemachinerymovers.com
PURIS Corp.	2018-12-27	Granite Construction, Inc. - Inliner	2022-02-03	2
The Woodlands, Georgia · www.puriscorp.com	Watsonville, California
MindBody, Inc.	2018-12-24	ClassPass, Inc.	2021-10-13	3
San Luis Obispo, California · www.mindbodyonline.com	New York, New York · www.classpass.com
Summit Packaging Solutions	2014-01-16	Berkeley Contract Packaging LLC	2016-05-03	2
Alpharetta, Georgia · www.1teamsummit.com	Kenilworth, New Jersey

Company

Acquired

Add-On/Sale

Date

ZeroFox Holdings, Inc.

2024-02-06

Identity Theft Guard Solutions, Inc.

2024-11-25

Baltimore, Maryland · www.zerofox.com

Beaverton, Oregon · www.idx.us

MEI Rigging & Crating LLC

2023-07-06

Able Machinery Movers LLC

2024-01-09

Albany, Oregon · www.meiriggingcrating.com

Grapevine, Texas · www.ablemachinerymovers.com

PURIS Corp.

2018-12-27

Granite Construction, Inc. - Inliner

2022-02-03

The Woodlands, Georgia · www.puriscorp.com

Watsonville, California

MindBody, Inc.

2018-12-24

ClassPass, Inc.

2021-10-13

San Luis Obispo, California · www.mindbodyonline.com

New York, New York · www.classpass.com

Summit Packaging Solutions

2014-01-16

Berkeley Contract Packaging LLC

2016-05-03

Alpharetta, Georgia · www.1teamsummit.com

Kenilworth, New Jersey

Sector	Current #	Value	All-time #	Value
Business Services	8 (16%)	-	10 (9%)	-
Information Technology	2 (4%)	350M (14%)	7 (6%)	1.1B (33%)
Healthcare Services	4 (8%)	180M (7%)	7 (6%)	180M (5%)
Internet Software and Services	3 (6%)	-	6 (5%)	193M (6%)
Construction	2 (4%)	-	5 (4%)	-
Manufacturing	3 (6%)	-	5 (4%)	-
Media	3 (6%)	-	5 (4%)	-
Safety/Security	3 (6%)	-	5 (4%)	-
Software	2 (4%)	1.9B (78%)	4 (3%)	1.9B (56%)
Machinery	2 (4%)	-	4 (3%)	-
Apparel/Textiles	1 (2%)	-	3 (3%)	-
Automotive	-	-	3 (3%)	-
Consumer Products	-	-	3 (3%)	-
Life Science	1 (2%)	-	3 (3%)	-
Marketing	2 (4%)	-	3 (3%)	-
Test/Measurement Equipment	-	-	3 (3%)	-
Transportation	2 (4%)	-	3 (3%)	-
Building Materials	1 (2%)	-	2 (2%)	-
Digital Media	1 (2%)	-	2 (2%)	-
Education	1 (2%)	-	2 (2%)	-
Electronics	-	-	2 (2%)	-
Energy Services and Equipment	-	-	2 (2%)	-
Engineering	1 (2%)	-	2 (2%)	-
Furniture	-	-	2 (2%)	-
Medical Products	-	-	2 (2%)	-
Packaging	2 (4%)	-	2 (2%)	-
Retail	1 (2%)	-	2 (2%)	-
Staffing	1 (2%)	-	2 (2%)	-
Utilities	1 (2%)	-	2 (2%)	-
Aerospace	-	-	1 (1%)	-
Chemicals	-	-	1 (1%)	-
Consumer Services	-	-	1 (1%)	-
Distribution	-	-	1 (1%)	-
E-Commerce	-	-	1 (1%)	-
Electrical Equipment	1 (2%)	-	1 (1%)	-
Financial Services	-	-	1 (1%)	-
Food	1 (2%)	-	1 (1%)	-
Information Services	1 (2%)	-	1 (1%)	-
Insurance	-	-	1 (1%)	-
Leisure	-	-	1 (1%)	-
Metals/Mining	-	-	1 (1%)	-
Technology Hardware	-	-	1 (1%)	-
Total	50	$2.4B	116	$3.4B

Sector

Current #

Value

All-time #

Value

Business Services

8 (16%)

10 (9%)

Information Technology

2 (4%)

350M (14%)

7 (6%)

1.1B (33%)

Healthcare Services

4 (8%)

180M (7%)

7 (6%)

180M (5%)

Internet Software and Services

3 (6%)

6 (5%)

193M (6%)

Construction

2 (4%)

5 (4%)

Manufacturing

3 (6%)

5 (4%)

Media

3 (6%)

5 (4%)

Safety/Security

3 (6%)

5 (4%)

Software

2 (4%)

1.9B (78%)

4 (3%)

1.9B (56%)

Machinery

2 (4%)

4 (3%)

Apparel/Textiles

1 (2%)

3 (3%)

Automotive

3 (3%)

Consumer Products

3 (3%)

Life Science

1 (2%)

3 (3%)

Marketing

2 (4%)

3 (3%)

Test/Measurement Equipment

3 (3%)

Transportation

2 (4%)

3 (3%)

Building Materials

1 (2%)

2 (2%)

Digital Media

1 (2%)

2 (2%)

Education

1 (2%)

2 (2%)

Electronics

2 (2%)

Energy Services and Equipment

2 (2%)

Engineering

1 (2%)

2 (2%)

Furniture

2 (2%)

Medical Products

2 (2%)

Packaging

2 (4%)

2 (2%)

Retail

1 (2%)

2 (2%)

Staffing

1 (2%)

2 (2%)

Utilities

1 (2%)

2 (2%)

Aerospace

1 (1%)

Chemicals

1 (1%)

Consumer Services

1 (1%)

Distribution

1 (1%)

E-Commerce

1 (1%)

Electrical Equipment

1 (2%)

1 (1%)

Financial Services

1 (1%)

Food

1 (2%)

1 (1%)

Information Services

1 (2%)

1 (1%)

Insurance

1 (1%)

Leisure

1 (1%)

Metals/Mining

1 (1%)

Technology Hardware

1 (1%)

Total

$2.4B

116

$3.4B

State/Country	Current #	Value	All-time #	Value
United States	49 (98%)	2.4B (100%)	115 (99%)	3.4B (100%)
	California	6 (12%)	1.9B (78%)	18 (16%)	2.1B (62%)
	Texas	2 (4%)	-	9 (8%)	-
	Georgia	6 (12%)	-	7 (6%)	-
	Tennessee	5 (10%)	-	6 (5%)	-
	North Carolina	3 (6%)	-	6 (5%)	-
	New York	2 (4%)	-	6 (5%)	-
	Florida	3 (6%)	-	5 (4%)	-
	Massachusetts	1 (2%)	-	5 (4%)	780M (23%)
	New Jersey	1 (2%)	-	5 (4%)	-
	Illinois	1 (2%)	-	5 (4%)	-
	Michigan	2 (4%)	-	4 (3%)	-
	Ohio	1 (2%)	180M (7%)	4 (3%)	180M (5%)
	Virginia	2 (4%)	-	3 (3%)	-
	Colorado	1 (2%)	-	3 (3%)	-
	Minnesota	1 (2%)	-	3 (3%)	-
	Utah	2 (4%)	-	2 (2%)	-
	Oregon	2 (4%)	-	2 (2%)	-
	Missouri	2 (4%)	-	2 (2%)	-
	Maryland	1 (2%)	350M (14%)	2 (2%)	350M (10%)
	Washington	1 (2%)	-	2 (2%)	-
	Nevada	-	-	2 (2%)	-
	Mississippi	-	-	2 (2%)	-
	Kansas	-	-	2 (2%)	-
	District of Columbia	1 (2%)	-	1 (1%)	-
	Arkansas	1 (2%)	-	1 (1%)	-
	Wisconsin	1 (2%)	-	1 (1%)	-
	New Mexico	1 (2%)	-	1 (1%)	-
	Connecticut	-	-	1 (1%)	-
	Pennsylvania	-	-	1 (1%)	-
	Oklahoma	-	-	1 (1%)	-
	Nebraska	-	-	1 (1%)	-
	Iowa	-	-	1 (1%)	-
	Indiana	-	-	1 (1%)	-
Canada	1 (2%)	-	1 (1%)	-
	Ontario	1 (2%)	-	1 (1%)	-
Domestic	49 (98%)	2.4B (100%)	115 (99%)	3.4B (100%)
Cross-border	1 (2%)	-	1 (1%)	-
Total	50	$2.4B	116	$3.4B

State/Country

Current #

Value

All-time #

Value

United States

49 (98%)

2.4B (100%)

115 (99%)

3.4B (100%)

California

6 (12%)

1.9B (78%)

18 (16%)

2.1B (62%)

Texas

2 (4%)

9 (8%)

Georgia

6 (12%)

7 (6%)

Tennessee

5 (10%)

6 (5%)

North Carolina

3 (6%)

6 (5%)

New York

2 (4%)

6 (5%)

Florida

3 (6%)

5 (4%)

Massachusetts

1 (2%)

5 (4%)

780M (23%)

New Jersey

1 (2%)

5 (4%)

Illinois

1 (2%)

5 (4%)

Michigan

2 (4%)

4 (3%)

Ohio

1 (2%)

180M (7%)

4 (3%)

180M (5%)

Virginia

2 (4%)

3 (3%)

Colorado

1 (2%)

3 (3%)

Minnesota

1 (2%)

3 (3%)

Utah

2 (4%)

2 (2%)

Oregon

2 (4%)

2 (2%)

Missouri

2 (4%)

2 (2%)

Maryland

1 (2%)

350M (14%)

2 (2%)

350M (10%)

Washington

1 (2%)

2 (2%)

Nevada

2 (2%)

Mississippi

2 (2%)

Kansas

2 (2%)

District of Columbia

1 (2%)

1 (1%)

Arkansas

1 (2%)

1 (1%)

Wisconsin

1 (2%)

1 (1%)

New Mexico

1 (2%)

1 (1%)

Connecticut

1 (1%)

Pennsylvania

1 (1%)

Oklahoma

1 (1%)

Nebraska

1 (1%)

Iowa

1 (1%)

Indiana

1 (1%)

Canada

1 (2%)

1 (1%)

Ontario

1 (2%)

1 (1%)

Domestic

49 (98%)

2.4B (100%)

115 (99%)

3.4B (100%)

Cross-border

1 (2%)

1 (1%)

Total

$2.4B

116

$3.4B

Type	Current #	Value	All-time #	Value
Growth Capital	15 (30%)	-	37 (32%)	-
Buyout (LBO, MBO, MBI)	13 (26%)	-	33 (28%)	780M (23%)
Secondary Buyout	6 (12%)	-	14 (12%)	-
Divestiture	3 (6%)	180M (7%)	8 (7%)	373M (11%)
Recapitalization	3 (6%)	-	8 (7%)	-
Add-on Acquisition	4 (8%)	-	5 (4%)	-
Stake Purchase	1 (2%)	-	3 (3%)	-
Going Private	2 (4%)	2.3B (93%)	2 (2%)	2.3B (66%)
Acquisition Financing	2 (4%)	-	2 (2%)	-
Consolidation	-	-	2 (2%)	-
Special Situations/Distressed	1 (2%)	-	2 (2%)	-
Total	50	$2.4B	116	$3.4B

Type

Current #

Value

All-time #

Value

Growth Capital

15 (30%)

37 (32%)

Buyout (LBO, MBO, MBI)

13 (26%)

33 (28%)

780M (23%)

Secondary Buyout

6 (12%)

14 (12%)

Divestiture

3 (6%)

180M (7%)

8 (7%)

373M (11%)

Recapitalization

3 (6%)

8 (7%)

Add-on Acquisition

4 (8%)

5 (4%)

Stake Purchase

1 (2%)

3 (3%)

Going Private

2 (4%)

2.3B (93%)

2 (2%)

2.3B (66%)

Acquisition Financing

2 (4%)

2 (2%)

Consolidation

2 (2%)

Special Situations/Distressed

1 (2%)

2 (2%)

Total

$2.4B

116

$3.4B

Type	Total #	Value
Trade Sale	17 (32%)	110M (3%)
Secondary Sale	13 (25%)	110M (3%)
Trade Sale - Public Company	10 (19%)	3.7B (94%)
Bankruptcy	3 (6%)	-
Merger	3 (6%)	-
Recapitalization	2 (4%)	-
SPAC	2 (4%)	-
Shut Down	1 (2%)	-
Sold to Management	1 (2%)	-
Unknown	1 (2%)	-
Total	53	$3.9B

Type

Total #

Value

Trade Sale

17 (32%)

110M (3%)

Secondary Sale

13 (25%)

110M (3%)

Trade Sale - Public Company

10 (19%)

3.7B (94%)

Bankruptcy

3 (6%)

Merger

3 (6%)

Recapitalization

2 (4%)

SPAC

2 (4%)

Shut Down

1 (2%)

Sold to Management

1 (2%)

Unknown

1 (2%)

Total

$3.9B

buy	#	Total
> $1B	1	$1.9B
$100M to $1B	4	$1.5B
TOTAL	$3.4B
Largest	MindBody, Inc. $1.9B (2018-12-24)

buy

Total

> $1B

$1.9B

$100M to $1B

$1.5B

TOTAL

$3.4B

Largest

MindBody, Inc.
$1.9B (2018-12-24)

sell	#	Total
> $1B	1	$2.7B
$100M to $1B	4	$1.0B
< $100M	3	$196M
TOTAL	$3.9B
Largest	Recorded Future, Inc. $2.7B (2024-09-12)

sell

Total

> $1B

$2.7B

$100M to $1B

$1.0B

< $100M

$196M

TOTAL

$3.9B

Largest

Recorded Future, Inc.
$2.7B (2024-09-12)

		Deals
Acquired from
Investor(s)	13%	15 (13%)
Strategic(s)	6%	7 (6%)
Exited to
Investor(s)	28%	15 (28%)
Strategic(s)	57%	30 (57%)

Deals

Acquired from

Investor(s)

15 (13%)

Strategic(s)

7 (6%)

Exited to

Investor(s)

15 (28%)

Strategic(s)

30 (57%)

FAQ

When was Monroe Capital founded?

Monroe Capital was founded in 2004.

What type of investor is Monroe Capital?

Monroe Capital is a lender.

Where is Monroe Capital headquartered?

Monroe Capital is headquartered in Chicago, Illinois.

How much capital does Monroe Capital have under management?

Monroe Capital has 14.1B USD under management.

Monroe Capital Mergers and Acquisitions Summary

Lender Profile

M&A Summary

Monroe Capital

Monroe Capital LLC

Investment Criteria

M&A Summary

Buy vs Sell

Most Recent M&A

Portfolio M&A

M&A by Sector

Acquisitions By Geo

Acquisitions by Deal Type

Exits by Deal Type

Deal Values

M&A Connections

Investor Summary

Investor Type

Size

PE Assets

Established

Specialist/Generalist

Leadership

Theodore Koenig

Aakash Bhansali

Jeffery Cupples

Matthew Lane

Rachel Worth

FAQ

When was Monroe Capital founded?

What type of investor is Monroe Capital?

Where is Monroe Capital headquartered?

How much capital does Monroe Capital have under management?

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