Vitruvian Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Vitruvian Partners has acquired 9 companies. It has also invested in 15 others.

Vitruvian Partners’ most common sectors for investment areinternet software and services (27%) and financial services (14%) . The Firm’s most common investment types include growth capital (29%) and secondary buyout (23%). In total, Vitruvian Partners has invested in 9 US states and 14 different countries. Its largest (disclosed) acquisition occurred in 2020 when it acquired Azul Systems for $340M.

In the last 3 years, Vitruvian Partners has exited 6 companies. The Firm’s most common exit type is trade sale (41%). Vitruvian Partners’ largest (disclosed) exit occurred in 2016 when it sold Skyscanner for $2.2B.

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M&A Summary

  • M&A Total Activity89
    • M&A Buy Activity67
    • M&A Sell Activity22
  • Total Sectors Invested 21
  • Total Countries Invested 14
  • M&A Buy/Sell Connections 31
  • M&A Advisors 29

Vitruvian Partners

105 Wigmore Street,
London, W1U 1QY
United Kingdom
+ 44 (0)20 7518 2800
www.vitruvianpartners.com

Vitruvian Partners is an independent private equity firm that specializes in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere in Northern Europe. Vitruvian looks for companies that are 'operating in dynamic situations, where there is an opportunity to build strategic value'. The Group's target investment size is £25 to £150 million in transactions valued up to £500 million. Sectors of interest include business services, consumer services, financial services, life science, healthcare services, media, technology, communications, and internet software. Vitruvian Partners was formed in 2006 and is based in London.


Investment Criteria

Sectors of Interest: Business Services, Communications, Distribution, Financial Services, Gaming, Healthcare Services, Information Technology, Internet Software and Services, Leisure, Media

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

Geographic Preferences: United Kingdom, Western Europe, Nordic

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 25 150
Enterprise Value 50 500
values in millions of GBP

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (5.2/yr) # 41 2 10 8 2 4 67
vol $661M $340M $192M $1.2B
Sell (1.6/yr) # 14 2 1 2 2 1 22
vol $3.2B $503M $3.7B
  89

Most Recent M&A

Company Date Value Type
Options Technology Ltd. 2024-10-16 - Secondary Buyout
London, United Kingdom · www.options-it.com
Benify AB 2024-09-03 - Trade Sale
Stockholm, Sweden · www.benify.se
Red Arbor Holding, S.L. 2024-06-20 - Stake Purchase
Barcelona, Spain · www.redarbor.net
Aduro Advisors LLC 2024-05-23 - Growth Capital
Denver, Colorado · www.aduroadvisors.com
ObjectiveHealth 2024-01-26 - Growth Capital
Franklin, Tennessee · www.objective.health
Farfetch Ltd. 2023-12-18 - Trade Sale
London, United Kingdom · www.farfetch.com
Snow Software 2023-11-28 - Trade Sale
Solna, Sweden · www.snowsoftware.com
Aspia AB 2023-10-26 - Secondary Buyout
Stockholm, Sweden · www.aspia.se
Twinkl Ltd. 2023-02-22 - Growth Capital
Sheffield, United Kingdom · www.twinkl.co.in
Meriplex Communications Ltd. 2022-07-18 - Recapitalization
Houston, Texas · www.meriplex.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
EasyPark AB 2012-02-09 Flowbird Group 2023-11-09 4
Stockholm, Sweden · www.easyparkgroup.com Neuilly-sur-Seine, France · www.flowbird.group
OAG Aviation Worldwide Ltd. 2017-02-16 Infare Solutions A/S 2023-07-28 1
Luton, United Kingdom · www.oag.com Copenhagen, Denmark · www.infare.com
Outpost24 AB 2022-07-13 Sweepatic NV 2023-06-07 1
Karlskrona, Sweden · www.outpost24.com Leuven, Belgium · www.sweepatic.com
Sykes Cottages Ltd. 2019-10-28 Forest Holidays Ltd. 2022-04-08 1
Cheshire, United Kingdom · www.sykescottages.co.uk Moira, United Kingdom · www.forestholidays.co.uk
Raisin GmbH 2021-07-01 Deposit Solutions GmbH 2021-07-01 1
Berlin, Germany · www.raisin.com Hamburg, Germany · www.deposit-solutions.com
EasyPark AB 2012-02-09 Parkmobile LLC 2021-03-09 3
Stockholm, Sweden · www.easyparkgroup.com Atlanta, Georgia · www.parkmobile.io
Smava GmbH 2017-12-20 FFG Finanzcheck Finanzportale GmbH 2021-02-12 1
Berlin, Germany · www.smava.de Hamburg, Germany · www.finanzcheck.de

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 12 (27%) - 18 (27%) 135M (11%)
Financial Services 6 (13%) - 9 (13%) -
Information Technology 6 (13%) - 9 (13%) -
Software 2 (4%) 340M (64%) 5 (7%) 660M (55%)
Business Services 2 (4%) - 5 (7%) -
Life Science 3 (7%) - 3 (4%) -
E-Commerce 1 (2%) - 2 (3%) -
Healthcare Services 2 (4%) - 2 (3%) -
Medical Products 2 (4%) - 2 (3%) -
Gaming - - 1 (1%) 206M (17%)
Transportation 1 (2%) 192M (36%) 1 (1%) 192M (16%)
Communications 1 (2%) - 1 (1%) -
Education 1 (2%) - 1 (1%) -
Environmental 1 (2%) - 1 (1%) -
Information Services 1 (2%) - 1 (1%) -
Insurance 1 (2%) - 1 (1%) -
Leisure 1 (2%) - 1 (1%) -
Marketing - - 1 (1%) -
Media - - 1 (1%) -
Retail 1 (2%) - 1 (1%) -
Staffing 1 (2%) - 1 (1%) -
Total 45 $532M 67 $1.2B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United Kingdom 10 (22%) 192M (36%) 27 (40%) 854M (72%)
United States 11 (24%) 340M (64%) 11 (16%) 340M (28%)
  California 3 (7%) 340M (64%) 3 (4%) 340M (28%)
  Texas 1 (2%) - 1 (1%) -
  Tennessee 1 (2%) - 1 (1%) -
  New York 1 (2%) - 1 (1%) -
  Massachusetts 1 (2%) - 1 (1%) -
  Maryland 1 (2%) - 1 (1%) -
  Kansas 1 (2%) - 1 (1%) -
  Georgia 1 (2%) - 1 (1%) -
  Colorado 1 (2%) - 1 (1%) -
Sweden 7 (16%) - 10 (15%) -
Germany 6 (13%) - 7 (10%) -
Spain 2 (4%) - 2 (3%) -
Netherlands 2 (4%) - 2 (3%) -
France 1 (2%) - 1 (1%) -
India 1 (2%) - 1 (1%) -
Finland 1 (2%) - 1 (1%) -
Ireland 1 (2%) - 1 (1%) -
Norway 1 (2%) - 1 (1%) -
Romania 1 (2%) - 1 (1%) -
Slovenia 1 (2%) - 1 (1%) -
Belgium - - 1 (1%) -
Domestic 10 (22%) 192M (36%) 27 (40%) 854M (72%)
Cross-border 35 (78%) 340M (64%) 40 (60%) 340M (28%)
Total 45 $532M 67 $1.2B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 13 (29%) - 19 (28%) -
Secondary Buyout 10 (22%) - 15 (22%) 135M (11%)
Buyout (LBO, MBO, MBI) 8 (18%) 532M (100%) 12 (18%) 532M (45%)
Stake Purchase 11 (24%) - 11 (16%) -
Divestiture 1 (2%) - 5 (7%) 320M (27%)
Venture 1 (2%) - 3 (4%) -
Going Private - - 1 (1%) 206M (17%)
Recapitalization 1 (2%) - 1 (1%) -
Total 45 $532M 67 $1.2B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 6 (27%) 3.4B (100%)
Secondary Sale 6 (27%) -
Merger 3 (14%) -
Trade Sale 3 (14%) -
IPO 1 (5%) -
Recapitalization 1 (5%) -
Sold to Existing Investors 1 (5%) -
Sold to Management 1 (5%) -
Total 22 $3.4B

Top M&A Advisors

Financial Deals
Lincoln International
 3
Arma Partners LLP
 2
GCA Altium Ltd.
 1
Legal Deals
Kirkland & Ellis
 4
Bird & Bird
 4
Freshfields Bruckhaus Deringer
 3

Deal Values

buy # Total
$100M to $1B 5 $1.2B
TOTAL $1.2B
Largest Azul Systems, Inc.
$340M (2020-03-04)
sell # Total
> $1B 1 $2.2B
$100M to $1B 4 $1.5B
TOTAL $3.7B
Largest Skyscanner Ltd.
$2.2B (2016-11-23)

M&A Connections

Deals
Acquired from
Investor(s)
27%
18 (27%)
Strategic(s)
9%
6 (9%)
Exited to
Investor(s)
27%
6 (27%)
Strategic(s)
55%
12 (55%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

8.5B EUR

Established

2006

Specialist/Generalist

Generalist

Leadership

Michael Risman

Founder & Managing Partner

Ben Johnson

Founder & Partner

Stephen Byrne

Founder & Partner

David Nahama

Founder & Senior Partner

Peter Read

Cortex Partner

FAQ

When was Vitruvian Partners founded?

Vitruvian Partners was founded in 2006.

What type of investor is Vitruvian Partners?

Vitruvian Partners is a private equity firm.

Where is Vitruvian Partners headquartered?

Vitruvian Partners is headquartered in London, United Kingdom.

How much capital does Vitruvian Partners have under management?

Vitruvian Partners has 8.5B EUR under management.

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