LLR Partners Mergers and Acquisitions Summary

Private Equity Profile

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

LLR Partners’ most common sectors for investment are software (22%) and information technology (21%). The Firm’s most common investment types include growth capital (56%) and buyout (lbo, mbo, mbi) (18%). In total, LLR Partners has invested in 26 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2006 when it acquired Peachtree Settlement Funding for $619M.

In the last 3 years, LLR Partners has exited 16 companies. The Firm’s most common exit type is trade sale (62%). LLR Partners’ largest (disclosed) exit occurred in 2018 when it sold SICOM Systems for $415M.

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M&A Summary

  • M&A Total Activity152
    • M&A Buy Activity98
    • M&A Sell Activity54
  • Total Sectors Invested 17
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 63
  • M&A Advisors 4

LLR Partners

Cira Centre, 2929 Arch Street,
Philadelphia, Pennsylvania 19104
United States
(215) 717-2900
www.llrpartners.com
info@llrpartners.com

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $15 to $100 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.


Investment Criteria

Sectors of Interest: Automotive, Business Services, Consumer Services, Distribution, Education, Financial Services, Healthcare Services, Information Services, Information Technology, Internet Software and Services, Life Science, Manufacturing, Medical Products, Retail, Safety/Security, Software, Staffing, Technology Hardware

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

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

Transaction Criteria Min Max
Target Revenue 10 -
Target EBITDA - -
Investment Size 15 100
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (6.2/yr) # 67 7 5 8 9 2 98
vol $635M $635M
Sell (4.4/yr) # 32 6 6 5 4 1 54
vol $1.2B $74M $100M $778M $2.1B
  152

Most Recent M&A

Company Date Value Type
Appspace, Inc. 2020-08-04 - Growth Capital
Dallas, Texas · www.appspace.com
WorldAware, Inc. 2020-07-13 - Add-on Acquisition
Annapolis, Maryland · www.ijet.com
TrueLearn LLC 2020-05-29 - Secondary Buyout
Mooresville, North Carolina · www.truelearn.com
Geoforce 2019-12-17 - Growth Capital
Plano, Texas · www.geoforce.com
Suvoda LLC 2019-12-05 - Growth Capital
Conshohocken, Pennsylvania · www.suvoda.com
Relay Network LLC 2019-12-04 - Growth Capital
Radnor, Pennsylvania · www.relaynetwork.com
eLocal USA LLC 2019-11-19 - Add-on Acquisition
Conshohocken, Pennsylvania · www.elocal.com
DaySmart Software, Inc. 2019-10-16 - Secondary Buyout
Ann Arbor, Michigan · www.daysmart.com
Empower Benefits, Inc. 2019-09-30 - Growth Capital
Tampa, Florida · www.corestream.com
Phreesia, Inc. 2019-07-18 - IPO
New York, New York · www.phreesia.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Celero Commerce 2018-12-03 FlashBanc LLC 2020-04-07 4
Nashville, Tennessee · www.celerocommerce.com Boca Raton, Florida · www.flashbanc.com
Eye Health America LLC 2018-03-21 Pee Dee Eye Associates (PDEA) 2020-03-09 9
Alpharetta, Georgia · www.eyehealthamerica.com Sumter, South Carolina · www.peedeeeye.com
3SI Security Systems, Inc. 2017-06-20 CovertTrack 2019-12-13 1
Malvern, Pennsylvania · www.3sisecurity.com Scottsdale, Arizona · corporate.coverttrack.com
Rizing LLC 2018-01-24 Transcend Spatial Solutions 2019-08-19 4
Stamford, Connecticut · www.rizing.com Charlotte, North Carolina · www.transcendspatial.com
Celero Commerce 2018-12-03 Elmhurst Financial Services LLC 2019-06-18 3
Nashville, Tennessee · www.celerocommerce.com Brentwood, Tennessee · www.elmhurstfinancialservices.com
Celero Commerce 2018-12-03 Tandem Innovative Payment Solutions LLC 2019-06-18 2
Nashville, Tennessee · www.celerocommerce.com Greenville, South Carolina · www.tandempayment.com
Acre LLC 2012-04-01 RS2 Technologies LLC 2019-04-18 4
Las Vegas, Nevada · www.acre-co.com Munster, Indiana · www.rs2tech.com
Eye Health America LLC 2018-03-21 Carolinas Centers For Sight P.C. 2019-04-11 8
Alpharetta, Georgia · www.eyehealthamerica.com Florence, South Carolina · www.ccfs2020.com
Agility Recovery Solutions, Inc. 2001-01-01 Preparis, Inc. 2019-02-27 2
Charlotte, North Carolina · www.agilityrecovery.com Atlanta, Georgia · www.preparis.com
Celero Commerce 2018-12-03 RazorSync LLC 2019-02-12 1
Nashville, Tennessee · www.celerocommerce.com Minneapolis, Minnesota · www.razorsync.com

M&A by Sector

Sector Current # Value All-time # Value
Software 7 (18%) - 21 (21%) -
Information Technology 10 (26%) - 20 (20%) 16M (3%)
Internet Software and Services 9 (23%) - 12 (12%) -
Healthcare Services 4 (10%) - 8 (8%) -
Financial Services 1 (3%) - 7 (7%) 619M (97%)
Business Services 4 (10%) - 7 (7%) -
Education - - 6 (6%) -
Medical Products - - 4 (4%) -
Safety/Security 3 (8%) - 3 (3%) -
Communications - - 2 (2%) -
Retail - - 2 (2%) -
Automotive - - 1 (1%) -
Consumer Services - - 1 (1%) -
Distribution - - 1 (1%) -
Electrical Equipment 1 (3%) - 1 (1%) -
Life Science - - 1 (1%) -
Marketing - - 1 (1%) -
Total 39 - 98 $635M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 39 (100%) - 97 (99%) 635M (100%)
  Pennsylvania 6 (15%) - 24 (24%) 619M (97%)
  New Jersey 3 (8%) - 10 (10%) 16M (3%)
  Maryland 3 (8%) - 9 (9%) -
  New York 2 (5%) - 7 (7%) -
  Massachusetts 2 (5%) - 5 (5%) -
  Florida 2 (5%) - 5 (5%) -
  Virginia 1 (3%) - 5 (5%) -
  Tennessee 2 (5%) - 4 (4%) -
  Illinois 3 (8%) - 3 (3%) -
  Texas 2 (5%) - 3 (3%) -
  Georgia 1 (3%) - 3 (3%) -
  North Carolina 2 (5%) - 2 (2%) -
  California 2 (5%) - 2 (2%) -
  Wisconsin 1 (3%) - 2 (2%) -
  Missouri - - 2 (2%) -
  Washington 1 (3%) - 1 (1%) -
  Utah 1 (3%) - 1 (1%) -
  South Carolina 1 (3%) - 1 (1%) -
  Oklahoma 1 (3%) - 1 (1%) -
  Nevada 1 (3%) - 1 (1%) -
  Michigan 1 (3%) - 1 (1%) -
  Connecticut 1 (3%) - 1 (1%) -
  Ohio - - 1 (1%) -
  Minnesota - - 1 (1%) -
  Kentucky - - 1 (1%) -
  Indiana - - 1 (1%) -
Netherlands - - 1 (1%) -
Domestic 39 (100%) - 97 (99%) 635M (100%)
Cross-border - - 1 (1%) -
Total 39 - 98 $635M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 24 (62%) - 54 (55%) -
Buyout (LBO, MBO, MBI) 5 (13%) - 17 (17%) -
Recapitalization 2 (5%) - 9 (9%) -
Secondary Buyout 5 (13%) - 8 (8%) -
Divestiture - - 3 (3%) 16M (3%)
Consolidation 2 (5%) - 3 (3%) -
Venture 1 (3%) - 2 (2%) -
Going Private - - 1 (1%) 619M (97%)
Acquisition Financing - - 1 (1%) -
Total 39 - 98 $635M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 23 (43%) 2.1B (97%)
Secondary Sale 10 (19%) -
Trade Sale 10 (19%) -
Merger 5 (9%) -
IPO 4 (7%) -
Divestiture 1 (2%) 74M (3%)
Sold to Management 1 (2%) -
Total 54 $2.1B

Top M&A Advisors

Financial Deals
Daiwa Corporate Advisory Ltd. (DC Advisory)
1
Lincoln International
1
Capital One Securities, Inc.
1
Legal Deals
Morgan, Lewis & Bockius LLP
1

Deal Values

buy # Total
$100M to $1B 1 $619M
< $100M 1 $16M
TOTAL $635M
Largest Peachtree Settlement Funding, LLC
$619M (2006-11-21)
sell # Total
$100M to $1B 6 $1.8B
< $100M 4 $293M
TOTAL $2.1B
Largest SICOM Systems, Inc.
$415M (2018-09-27)

M&A Connections

Deals %
Acquired from
PE Firm(s)
82%
14 82%
Strategic(s)
18%
3 18%
Exited to
PE Firm(s)
24%
12 24%
Strategic(s)
76%
39 76%

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