Primus Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Primus Capital has invested in 7 companies.

Primus Capital’s most common sectors for investment aresoftware (22%) and information technology (15%) . The Firm’s most common investment types include growth capital (47%) and buyout (lbo, mbo, mbi) (22%). In total, Primus Capital has invested in 25 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2007 when it acquired SPARTA Insurance Holdings for $279M.

In the last 3 years, Primus Capital has exited 10 companies. The Firm’s most common exit type is trade sale (61%). Primus Capital’s largest (disclosed) exit occurred in 2013 when it sold Passport Health Communications for $850M.

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M&A Summary

  • M&A Total Activity106
    • M&A Buy Activity60
    • M&A Sell Activity46
  • Total Sectors Invested 18
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 59
  • M&A Advisors 4

Primus Capital

Primus Capital

28601 Chagrin Boulevard Suite 525,
Cleveland, Ohio 44122
United States
(440) 684-7300
www.primuscapital.com
info@primuscapital.com

Primus Capital is a private equity firm focused on investing in established companies in the business services, healthcare and education industry sectors. Primus looks for established, high-growth companies with strong management and predictable/recurring revenues. The Firm will consider both control and minority positions and has a target investment size of $15 to $70 million. Prospective transaction types include growth equity financings, recapitalizations, and management-led buyouts. Primus Capital was formed in 1983 and is based in Cleveland, Ohio.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Communications, Consumer Services, Education, Environmental, Financial Services, Healthcare Services, Information Technology, Insurance, Life Science, Media, Medical Products, Software, Technology Hardware

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 15 70
Enterprise Value - 250
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.8/yr) # 51 2 3 2 2 - 60
vol $668M $668M
Sell (2.2/yr) # 35 1 2 2 4 2 46
vol $2.2B $250M $2.4B
  106

Most Recent M&A

Company Date Value Type
Healthcare Bluebook, Inc. 2024-07-11 - Trade Sale
Nashville, Tennessee · www.healthcarebluebook.com
Hayes Management Consulting LLC 2024-06-26 - Trade Sale
Waltham, Massachusetts · www.mdaudit.com
Harmony Healthcare IT 2023-11-28 - Secondary Sale
South Bend, Indiana · www.harmonyhit.com
fusionZONE Automotive LLC 2023-11-13 - Trade Sale
Lakeland, California · www.fzautomotive.com
Prendio 2023-10-18 - Growth Capital
Woburn, Massachusetts · www.prendio.com
BioProcure, Inc. 2023-10-18 - Growth Capital
Woburn, Massachusetts · www.bioprocure.com
ClearCompany, Inc. 2023-09-20 - Secondary Sale
Boston, Massachusetts · www.clearcompany.com
S&W Payroll Services LLC 2023-06-07 - Secondary Sale
Covington, Louisiana · www.netchex.com
Ordergroove LLC 2022-11-10 - Growth Capital
Miami, Florida · www.ordergroove.com
Payspan, Inc. 2022-11-09 - Trade Sale
Jacksonville, Florida · www.payspan.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Software 5 (36%) - 13 (22%) 137M (21%)
Information Technology 3 (21%) - 9 (15%) -
Internet Software and Services 4 (29%) - 8 (13%) -
Business Services - - 6 (10%) -
Healthcare Services - - 5 (8%) 232M (35%)
Communications - - 3 (5%) 20M (3%)
Education 2 (14%) - 3 (5%) -
Medical Products - - 3 (5%) -
Insurance - - 1 (2%) 279M (42%)
Building Materials - - 1 (2%) -
Consumer Services - - 1 (2%) -
Digital Media - - 1 (2%) -
E-Commerce - - 1 (2%) -
Financial Services - - 1 (2%) -
Information Services - - 1 (2%) -
Life Science - - 1 (2%) -
Media - - 1 (2%) -
Retail - - 1 (2%) -
Total 14 - 60 $668M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 14 (100%) - 59 (98%) 668M (100%)
  Tennessee 2 (14%) - 7 (12%) 232M (35%)
  Georgia 2 (14%) - 5 (8%) -
  Ohio - - 5 (8%) 50M (7%)
  Massachusetts 2 (14%) - 4 (7%) -
  Florida 1 (7%) - 4 (7%) 80M (12%)
  Pennsylvania 1 (7%) - 4 (7%) -
  California - - 4 (7%) -
  Texas 1 (7%) - 3 (5%) -
  New Jersey 1 (7%) - 3 (5%) -
  Colorado 1 (7%) - 2 (3%) -
  Virginia - - 2 (3%) 20M (3%)
  North Carolina - - 2 (3%) 7M (1%)
  Washington - - 2 (3%) -
  Oregon 1 (7%) - 1 (2%) -
  New York 1 (7%) - 1 (2%) -
  Missouri 1 (7%) - 1 (2%) -
  Connecticut - - 1 (2%) 279M (42%)
  Wisconsin - - 1 (2%) -
  New Mexico - - 1 (2%) -
  Nebraska - - 1 (2%) -
  Minnesota - - 1 (2%) -
  Michigan - - 1 (2%) -
  Louisiana - - 1 (2%) -
  Indiana - - 1 (2%) -
  Illinois - - 1 (2%) -
Ireland - - 1 (2%) -
Domestic 14 (100%) - 59 (98%) 668M (100%)
Cross-border - - 1 (2%) -
Total 14 - 60 $668M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 11 (79%) - 28 (47%) -
Buyout (LBO, MBO, MBI) - - 13 (22%) 306M (46%)
Recapitalization 1 (7%) - 8 (13%) 50M (7%)
Secondary Buyout 1 (7%) - 7 (12%) 312M (47%)
Venture 1 (7%) - 3 (5%) -
PIPE - - 1 (2%) -
Total 14 - 60 $668M

Exits by Deal Type

Type Total # Value
Trade Sale 17 (37%) 67M (3%)
Trade Sale - Public Company 13 (28%) 2.4B (97%)
Secondary Sale 7 (15%) -
IPO 4 (9%) -
Merger 2 (4%) -
Recapitalization 2 (4%) -
Shut Down 1 (2%) -
Total 46 $2.4B

Top M&A Advisors

Financial Deals
Harris Williams & Co.
1
MTS Health Partners LP
1
Legal Deals
Goodwin Procter
3
Jones Day
2

Deal Values

buy # Total
$100M to $1B 2 $511M
< $100M 4 $157M
TOTAL $668M
Largest SPARTA Insurance Holdings, Inc.
$279M (2007-09-14)
sell # Total
$100M to $1B 7 $2.3B
< $100M 2 $167M
TOTAL $2.4B
Largest Passport Health Communications, Inc.
$850M (2013-11-21)

M&A Connections

Deals
Acquired from
Investor(s)
15%
9 (15%)
Exited to
Investor(s)
20%
9 (20%)
Strategic(s)
65%
30 (65%)

FAQ

When was Primus Capital founded?

Primus Capital was founded in 1983.

What type of investor is Primus Capital?

Primus Capital is a private equity firm.

Where is Primus Capital headquartered?

Primus Capital is headquartered in Cleveland, Ohio.

How much capital does Primus Capital have under management?

Primus Capital has 900M USD under management.

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