TPE Boulder Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, TPE Boulder has acquired 1 company.

TPE Boulder’s most common sectors for investment arebusiness services (20%) and information technology (20%) . The Firm’s most common investment types include venture (48%) and buyout (lbo, mbo, mbi) (32%). In total, TPE Boulder has invested in 13 US states. Its largest (disclosed) acquisition occurred in 2007 when it acquired MarketTools for $60M.

In the last 3 years, TPE Boulder has exited 2 companies. The Firm’s most common exit type is trade sale (57%). TPE Boulder’s largest (disclosed) exit occurred in 2011 when it sold HealthDataInsights for $400M.

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M&A Summary

  • M&A Total Activity48
    • M&A Buy Activity25
    • M&A Sell Activity23
  • Total Sectors Invested 8
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 30

TPE Boulder

2305 Broadway Street Boulder,
Boulder, Colorado 80304
United States
(303) 938-3768
www.tpeboulder.com
craig@tpeboulder.com

TPE Boulder is a private equity firm focused on small buyout and growth equity investments in profitable healthcare and software companies. TPE will consider minority or control positions and targets companies with $4 to $40 million in revenue and at least $1.5 million of EBITDA. Specific areas of interest include healthcare services, healthcare IT, healthcare payment management systems, enterprise software, SaaS, and Internet B2B companies. TPE Boulder was formed in 1997 and has offices in Braintree, Massachusetts, and Boulder, Colorado.


Investment Criteria

Sectors of Interest: Business Services, Distribution, Healthcare Services, Information Technology, Internet Software and Services, Life Science, Software

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

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

Transaction Criteria Min Max
Target Revenue 4 40
Target EBITDA 2 -
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 24 - 1 - - - 25
vol $105M $105M
Sell (0.4/yr) # 21 - 1 - 1 - 23
vol $464M $464M
  48

Most Recent M&A

Company Date Value Type
Cartridge Technologies, Inc. 2023-10-18 - Secondary Sale
Rockville, Maryland · www.ctimd.com
National Research Institute 2021-09-22 - Trade Sale
Los Angeles, California · www.nritrials.com
LexShares, Inc. 2021-01-01 - Buyout (LBO, MBO, MBI)
Boston, Massachusetts · www.lexshares.com
Bright Market LLC 2018-02-14 - Secondary Sale
Santa Barbara, California · www.fastspring.com
Synteract, Inc. 2016-05-25 - Secondary Sale
Carlsbad, California · www.synteract.com
Safety Holdings, Inc. 2016-04-06 - Recapitalization
Greenwood Village, Colorado · www.sambasafety.com
Memorial MRI & Diagnostic Center LP 2015-09-09 - Secondary Sale
Houston, Texas · www.memorialdiagnostic.com
Mycroft, Inc. 2015-07-20 - Trade Sale
St. Louis, Missouri · www.mycroftinc.com
Aileron Solutions LLC 2014-07-01 - Trade Sale
Conshohocken, Pennsylvania · www.aileronsolutions.com
The Neck and Back Clinics 2014-01-01 - Buyout (LBO, MBO, MBI)
Las Vegas, Nevada · www.theneckandbackclinics.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Business Services - - 5 (20%) 63M (60%)
Information Technology - - 5 (20%) 13M (12%)
Healthcare Services 1 (33%) - 4 (16%) -
Life Science 1 (33%) - 4 (16%) -
Internet Software and Services - - 3 (12%) -
Software - - 2 (8%) -
Semiconductors - - 1 (4%) 29M (28%)
Financial Services 1 (33%) - 1 (4%) -
Total 3 - 25 $105M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 3 (100%) - 25 (100%) 105M (100%)
  California 1 (33%) - 8 (32%) 89M (85%)
  Massachusetts 1 (33%) - 4 (16%) -
  Nevada 1 (33%) - 2 (8%) -
  Colorado - - 2 (8%) -
  Hawaii - - 1 (4%) 13M (12%)
  Illinois - - 1 (4%) 3M (3%)
  Virginia - - 1 (4%) -
  Texas - - 1 (4%) -
  New York - - 1 (4%) -
  New Jersey - - 1 (4%) -
  Missouri - - 1 (4%) -
  Georgia - - 1 (4%) -
  Arizona - - 1 (4%) -
Total 3 - 25 $105M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 1 (33%) - 12 (48%) 73M (69%)
Buyout (LBO, MBO, MBI) 2 (67%) - 8 (32%) 32M (31%)
Growth Capital - - 2 (8%) -
Consolidation - - 1 (4%) -
Recapitalization - - 1 (4%) -
Stake Purchase - - 1 (4%) -
Total 3 - 25 $105M

Exits by Deal Type

Type Total # Value
Trade Sale 10 (43%) 19M (4%)
Secondary Sale 6 (26%) 45M (10%)
Trade Sale - Public Company 3 (13%) 400M (86%)
IPO 2 (9%) -
Bankruptcy 1 (4%) -
Recapitalization 1 (4%) -
Total 23 $464M

Deal Values

buy # Total
< $100M 4 $105M
TOTAL $105M
Largest MarketTools, Inc.
$60M (2007-01-01)
sell # Total
$100M to $1B 1 $400M
< $100M 2 $64M
TOTAL $464M
Largest HealthDataInsights, Inc.
$400M (2011-12-16)

M&A Connections

Deals
Exited to
Investor(s)
30%
7 (30%)
Strategic(s)
57%
13 (57%)

FAQ

When was TPE Boulder founded?

TPE Boulder was founded in 1997.

What type of investor is TPE Boulder?

TPE Boulder is a private equity firm.

Where is TPE Boulder headquartered?

TPE Boulder is headquartered in Boulder, Colorado.

How much capital does TPE Boulder have under management?

TPE Boulder has 200M USD under management.

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