Lake Capital Mergers and Acquisitions Summary

Private Equity Profile

Lake Capital’s most common sectors for investment are business services (37%) and marketing (19%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (40%) and stake purchase (34%). In total, Lake Capital has invested in 18 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2001 when it acquired Nth Degree for $150M.

In the last 3 years, Lake Capital has exited 1 company. The Firm’s most common exit type is secondary buyout (27%). Lake Capital’s largest (disclosed) exit occurred in 2012 when it sold Hyper Marketing for $460M.

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M&A Summary

  • M&A Total Activity56
    • M&A Buy Activity33
    • M&A Sell Activity23
  • Total Sectors Invested 9
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 10

Lake Capital

875 North Michigan Avenue, Suite 3520,
Chicago, Illinois 60611
United States
(312) 640-7050
www.lakecapital.com
info@lakecapital.com

Lake Capital is a private equity firm that targets a limited number of middle-market, service-based companies. The firm typically allocates $50 to $75 million equity to each portfolio company initiative. However, with seller financing, third-party debt, and co-investment opportunities, significant capital (in addition to the initial equity allocation) is available to each initiative. The service-based businesses the firm pursues include marketing services, finance-related services, specialty services, healthcare services, consumer services, technology services, business process outsourcing services, and marketing services. The firm is typically interested in buyout, partnership and start-up opportunities. Lake Capital was formed in 1998 and is based in Chicago, Illinois.


Investment Criteria

Sectors of Interest: Business Services, Communications, Consumer Products, Consumer Services, Education, Energy Services and Equipment, Environmental, Financial Services, Healthcare Services, Information Technology, Internet Software and Services, Marketing, Media, Software, Staffing

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Secondary Buyout

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 10 25
Investment Size 50 75
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.0/yr) # 33 - - - - - 33
vol $275M $275M
Sell (0.6/yr) # 20 2 1 - - - 23
vol $1.1B $1.1B
  56

Most Recent M&A

Company Date Value Type
Whitney, Bradley and Brown, Inc. 2017-11-14 - Secondary Buyout
Reston, Virginia · www.wbbinc.com
Addison Group 2016-12-19 - Secondary Buyout
Chicago, Illinois · www.addisongroup.com
Empower Software Solutions, Inc. 2016-01-14 - Add-on Acquisition
Orlando, Florida · www.empowersoftware.com
The Engine Group Ltd. 2014-09-01 - Secondary Buyout
London, United Kingdom · www.theenginegroup.com
ORC International, Inc. 2014-09-01 - Add-on Acquisition
Princeton, New Jersey · www.opinionresearch.com
Trailer Park 2014-09-01 - Add-on Acquisition
Hollywood, California · www.trailerpark.com
Addison Group 2013-09-30 - Buyout (LBO, MBO, MBI)
Chicago, Illinois · www.addisongroup.com
FishNet Consulting, Inc. (dba FishNet Security, Inc.) 2013-01-23 - Secondary Buyout
Kansas City, Missouri · www.fishnetsecurity.com
Vestcom International, Inc. 2012-12-13 - Secondary Buyout
Little Rock, Arkansas · www.vestcom.com
Hyper Marketing, Inc. 2012-11-09 460M USD Add-on Acquisition
Chicago, Illinois · www.hypermarketinginc.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
The Engine Group Ltd. 2014-09-01 ORC International, Inc. 2014-09-01 2
London, United Kingdom · www.theenginegroup.com Princeton, New Jersey · www.opinionresearch.com
The Engine Group Ltd. 2014-09-01 Trailer Park 2014-09-01 1
London, United Kingdom · www.theenginegroup.com Hollywood, California · www.trailerpark.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 1 (33%) - 12 (36%) 150M (55%)
Marketing 2 (67%) - 6 (18%) 125M (45%)
Communications - - 4 (12%) -
Information Technology - - 3 (9%) -
Consumer Services - - 2 (6%) -
Healthcare Services - - 2 (6%) -
Staffing - - 2 (6%) -
Energy Services and Equipment - - 1 (3%) -
Software - - 1 (3%) -
Total 3 - 33 $275M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 2 (67%) - 31 (94%) 275M (100%)
  Illinois - - 6 (18%) -
  New Jersey - - 4 (12%) 125M (45%)
  Pennsylvania - - 3 (9%) -
  Texas 1 (33%) - 2 (6%) -
  New York - - 2 (6%) -
  Kentucky 1 (33%) - 1 (3%) -
  Georgia - - 1 (3%) 150M (55%)
  Virginia - - 1 (3%) -
  Oklahoma - - 1 (3%) -
  North Carolina - - 1 (3%) -
  Missouri - - 1 (3%) -
  Maryland - - 1 (3%) -
  Indiana - - 1 (3%) -
  Florida - - 1 (3%) -
  District of Columbia - - 1 (3%) -
  Connecticut - - 1 (3%) -
  California - - 1 (3%) -
  Arkansas - - 1 (3%) -
United Kingdom 1 (33%) - 1 (3%) -
Canada - - 1 (3%) -
  Ontario - - 1 (3%) -
Domestic 2 (67%) - 31 (94%) 275M (100%)
Cross-border 1 (33%) - 2 (6%) -
Total 3 - 33 $275M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) - - 13 (39%) 275M (100%)
Stake Purchase - - 11 (33%) -
Secondary Buyout 2 (67%) - 4 (12%) -
Consolidation - - 2 (6%) -
Divestiture - - 1 (3%) -
Growth Capital 1 (33%) - 1 (3%) -
Recapitalization - - 1 (3%) -
Total 3 - 33 $275M

Exits by Deal Type

Type Total # Value
Trade Sale 9 (39%) 174M (15%)
Secondary Sale 6 (26%) -
Trade Sale - Public Company 5 (22%) 949M (85%)
IPO 2 (9%) -
Merger 1 (4%) -
Total 23 $1.1B

Deal Values

buy # Total
$100M to $1B 2 $275M
TOTAL $275M
Largest Nth Degree, Inc.
$150M (2001-04-19)
sell # Total
$100M to $1B 3 $1.0B
< $100M 4 $103M
TOTAL $1.1B
Largest Hyper Marketing, Inc.
$460M (2012-11-09)

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
5 100%
Exited to
PE Firm(s)
62%
8 62%
Strategic(s)
38%
5 38%

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