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Oaktree Capital Management Mergers and Acquisitions Summary

Asset Manager Profile

In the last 3 years, Oaktree Capital Management has acquired 12 companies. It has also invested in 1 other.

Oaktree Capital Management’s most common sectors for investment arebusiness services (10%) and construction (7%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (37%) and secondary buyout (19%). In total, Oaktree Capital Management has invested in 28 US states and 14 different countries. Its largest (disclosed) acquisition occurred in 1997 when it acquired National Mobile Television for $555M.

In the last 3 years, Oaktree Capital Management has exited 14 companies. The Firm’s most common exit type is trade sale (44%). Oaktree Capital Management’s largest (disclosed) exit occurred in 2025 when it sold Richards Manufacturing for $2.3B.

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M&A Summary

  • M&A Total Activity208
    • M&A Buy Activity122
    • M&A Sell Activity86
  • Total Sectors Invested 45
  • Total Countries Invested 14
  • M&A Buy/Sell Connections 80
  • M&A Advisors 26

Oaktree Capital Management

333 South Grand Ave., 28th Floor,
Los Angeles, California 90071
United States
(213) 830-6300
www.oaktreecapital.com
mediainquiries@oaktreecapital.com

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.


Investment Criteria

Sectors of Interest: Business Services, Communications, Consumer Products, Energy Services and Equipment, Information Services, Information Technology, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization

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

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 (5.0/yr) # 97 12 4 7 2 - 122
vol $1.8B $216M $2.0B
Sell (3.4/yr) # 69 3 2 4 4 4 86
vol $6.8B $2.3B $9.1B
  208

Most Recent M&A

Company Date Value Type
OEG Energy Group 2025-03-19 - Secondary Sale
Aberdeen, United Kingdom · www.oeg.group
ProService Finteco sp. z o. o 2025-03-13 - Secondary Sale
Warsaw, Poland · www.psfinteco.com
Richards Manufacturing Co. 2025-02-12 2.3B USD Trade Sale
Irvington, New Jersey · www.richards-mfg.com
Velocity Risk Underwriters LLC 2025-01-07 - Trade Sale
Nashville, Tennessee · www.velocityrisk.com
atomos 2024-10-03 - Trade Sale
London, United Kingdom · www.atomos.co.uk
Proserv UK Ltd. 2024-07-24 - Unknown
Aberdeen, United Kingdom · www.proserv.com
LPW Group Holdings, Inc. 2024-03-17 - Secondary Buyout
Houston, Texas · www.lpw-group.com
Electro-Mechanical LLC 2024-03-01 - Secondary Buyout
Bristol, Virginia · www.electro-mechanical.com
Asacha Media Group SAS 2024-02-20 - Trade Sale
Paris, France · www.asachamediagroup.com
MWH Constructors, Inc. 2024-01-11 - Trade Sale
Broomfield, Colorado · www.mwhconstructors.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Express Wash Operations LLC 2023-07-25 Take 5 Car Wash 2025-02-25 3
Charlotte, North Carolina · www.whistleexpresscarwash.com Charlotte, North Carolina · www.take5.com
Universal Plant Services, Inc. 2020-09-01 Universal Plant Services - Rotating Equipment Segment 2024-08-14 1
Deer Park, Texas · www.universalplant.com Deer Park, Texas
RAFI GmbH & Co. KG 2019-11-19 Xymox Technologies, Inc. 2023-07-12 1
Ravensburg, Germany · www.rafi-group.com Milwaukee, Wisconsin · www.xymox.com
Kamps Pallets, Inc. 2020-01-14 Realm Companies LLC 2022-11-03 3
Grand Rapids, Michigan · www.kampspallets.com Newton, Iowa · www.realminc.net
STG Logistics 2016-08-31 XPO Logistics - The Intermodal Division 2022-03-25 9
Dublin, Ohio · www.stgusa.com Greenwich, Connecticut
STG Logistics 2016-08-31 Arrowpac International - CFS Division 2021-07-08 8
Dublin, Ohio · www.stgusa.com Secaucus, New Jersey
Acosta Sales & Marketing, Inc. 2020-01-02 Impact Group 2021-06-24 4
Jacksonville, Florida · www.acosta.com Boise, Idaho · impactgrp.com
System One Services, Inc. 2020-12-08 Quadel Consulting & Training LLC 2021-06-08 5
Pittsburgh, Pennsylvania · www.systemoneservices.com Indianapolis, Indiana · www.quadel.com
National Trench Safety LLC 2016-10-26 National Trench Safety LLC (old) 2021-04-01 1
Downey, California · www.ntsafety.com Houston, Texas · www.ntsafety.com
STG Logistics 2016-08-31 Veeco Holdings LLC 2019-12-03 7
Dublin, Ohio · www.stgusa.com North Bergen, New Jersey · www.veeco1.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 4 (9%) - 11 (9%) -
Construction 2 (5%) - 8 (7%) 320M (16%)
Electrical Equipment 2 (5%) - 8 (7%) -
Real Estate 2 (5%) - 7 (6%) -
Transportation 5 (12%) - 6 (5%) -
Packaging - - 5 (4%) 485M (24%)
Financial Services 2 (5%) - 5 (4%) 216M (11%)
Energy Services and Equipment 1 (2%) - 5 (4%) -
Renewable Energy 2 (5%) - 5 (4%) -
Healthcare Services 2 (5%) - 4 (3%) -
Manufacturing 4 (9%) - 4 (3%) -
Software - - 4 (3%) -
Beverages - - 3 (2%) -
Consumer Services 3 (7%) - 3 (2%) -
Environmental - - 3 (2%) -
Food 1 (2%) - 3 (2%) -
Technology Hardware 1 (2%) - 3 (2%) -
Media - - 2 (2%) 555M (28%)
Infrastructure - - 2 (2%) 280M (14%)
Aerospace - - 2 (2%) -
Automotive 1 (2%) - 2 (2%) -
Machinery 1 (2%) - 2 (2%) -
Retail - - 2 (2%) -
Safety/Security 1 (2%) - 2 (2%) -
Communications 1 (2%) 154M (100%) 1 (1%) 154M (8%)
Airlines - - 1 (1%) -
Apparel/Textiles 1 (2%) - 1 (1%) -
Building Materials - - 1 (1%) -
Chemicals 1 (2%) - 1 (1%) -
Consumer Products - - 1 (1%) -
Distribution - - 1 (1%) -
Diversified - - 1 (1%) -
Electronics - - 1 (1%) -
Engineering 1 (2%) - 1 (1%) -
Franchising 1 (2%) - 1 (1%) -
Information Services - - 1 (1%) -
Information Technology - - 1 (1%) -
Insurance - - 1 (1%) -
Leisure 1 (2%) - 1 (1%) -
Marine - - 1 (1%) -
Marketing 1 (2%) - 1 (1%) -
Oil/Gas Exploration 1 (2%) - 1 (1%) -
Semiconductors - - 1 (1%) -
Staffing 1 (2%) - 1 (1%) -
Test/Measurement Equipment - - 1 (1%) -
Total 43 $154M 122 $2.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 27 (63%) - 79 (65%) 835M (42%)
  California 4 (9%) - 16 (13%) 555M (28%)
  Texas 4 (9%) - 10 (8%) -
  New York 2 (5%) - 5 (4%) -
  Nevada 2 (5%) - 4 (3%) -
  Pennsylvania 1 (2%) - 4 (3%) 280M (14%)
  Ohio 1 (2%) - 4 (3%) -
  Georgia 1 (2%) - 4 (3%) -
  Florida 1 (2%) - 4 (3%) -
  Tennessee 1 (2%) - 3 (2%) -
  Illinois - - 3 (2%) -
  New Jersey 1 (2%) - 2 (2%) -
  Minnesota 1 (2%) - 2 (2%) -
  Massachusetts 1 (2%) - 2 (2%) -
  New Hampshire - - 2 (2%) -
  Virginia 1 (2%) - 1 (1%) -
  North Carolina 1 (2%) - 1 (1%) -
  Michigan 1 (2%) - 1 (1%) -
  Kansas 1 (2%) - 1 (1%) -
  Indiana 1 (2%) - 1 (1%) -
  Connecticut 1 (2%) - 1 (1%) -
  Washington - - 1 (1%) -
  Vermont - - 1 (1%) -
  New Mexico - - 1 (1%) -
  Kentucky - - 1 (1%) -
  District of Columbia - - 1 (1%) -
  Colorado - - 1 (1%) -
  Arizona - - 1 (1%) -
United Kingdom 4 (9%) 154M (100%) 12 (10%) 854M (43%)
Germany 4 (9%) - 8 (7%) -
Canada 2 (5%) - 7 (6%) 320M (16%)
  Ontario 1 (2%) - 3 (2%) -
  Quebec 1 (2%) - 2 (2%) 320M (16%)
  British Columbia - - 2 (2%) -
Poland 1 (2%) - 5 (4%) -
Netherlands 1 (2%) - 2 (2%) -
France - - 2 (2%) -
Italy 1 (2%) - 1 (1%) -
Australia 1 (2%) - 1 (1%) -
Malaysia 1 (2%) - 1 (1%) -
Switzerland 1 (2%) - 1 (1%) -
Spain - - 1 (1%) -
Czech Republic - - 1 (1%) -
Finland - - 1 (1%) -
Total 43 $154M 122 $2.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 15 (35%) 154M (100%) 45 (37%) 154M (8%)
Secondary Buyout 8 (19%) - 23 (19%) -
Growth Capital 5 (12%) - 14 (11%) -
Divestiture - - 8 (7%) 1.1B (52%)
Stake Purchase 5 (12%) - 8 (7%) -
Recapitalization 2 (5%) - 4 (3%) 485M (24%)
Going Private 1 (2%) - 3 (2%) 320M (16%)
Consolidation 2 (5%) - 3 (2%) -
Joint Venture 1 (2%) - 3 (2%) -
PIPE - - 3 (2%) -
Special Situations/Distressed 2 (5%) - 3 (2%) -
Venture 1 (2%) - 3 (2%) -
Acquisition Financing 1 (2%) - 1 (1%) -
Merger - - 1 (1%) -
Total 43 $154M 122 $2.0B

Exits by Deal Type

Type Total # Value
Secondary Sale 26 (30%) 1.0B (12%)
Trade Sale - Public Company 23 (27%) 4.6B (55%)
Trade Sale 16 (19%) 2.7B (33%)
IPO 11 (13%) -
Merger 3 (3%) -
Divestiture 2 (2%) -
Stake Sale 2 (2%) -
Bankruptcy 1 (1%) -
Sold to Management 1 (1%) -
Unknown 1 (1%) -
Total 86 $8.4B

Top M&A Advisors

Financial Deals
Houlihan Lokey
 3
Lazard
 2
Barclays Investment Bank
 2
Legal Deals
Kirkland & Ellis
 9
Weil Gotshal & Manges
 2
Stikeman Elliott
 2

Deal Values

buy # Total
$100M to $1B 6 $2.0B
TOTAL $2.0B
Largest National Mobile Television, Inc.
$555M (1997-02-09)
sell # Total
> $1B 2 $3.6B
$100M to $1B 13 $5.4B
< $100M 3 $144M
TOTAL $9.1B
Largest Richards Manufacturing Co.
$2.3B (2025-02-12)

M&A Connections

Deals
Acquired from
Investor(s)
21%
26 (21%)
Strategic(s)
6%
7 (6%)
Exited to
Investor(s)
33%
28 (33%)
Strategic(s)
50%
43 (50%)

Investor Summary

Investor Type

Asset Manager

Size

Mega

Established

1995

Specialist/Generalist

Generalist

Leadership

Bruce Karsh

Co-founder & Co-Chairman, CIO

Sheldon Stone

Founding Principal & Co-Portfolio Manager

Armen Panossian

Co-CEO & Head of Performing Credit

Robert O'Leary

Co-CEO & Portfolio Manager

Howard Marks

Co-Chairman

FAQ

When was Oaktree Capital Management founded?

Oaktree Capital Management was founded in 1995.

What type of investor is Oaktree Capital Management?

Oaktree Capital Management is an asset manager.

Where is Oaktree Capital Management headquartered?

Oaktree Capital Management is headquartered in Los Angeles, California.

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