LLR Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, LLR Partners has acquired 3 companies. It has also invested in 10 others.

LLR Partners’ most common sectors for investment are software (20%) and information technology (15%). The Firm’s most common investment types include growth capital (55%) and buyout (lbo, mbo, mbi) (17%). In total, LLR Partners has invested in 24 US states and 3 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 12 companies. The Firm’s most common exit type is trade sale (64%). 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 Activity146
    • M&A Buy Activity100
    • M&A Sell Activity46
  • Total Sectors Invested 17
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 56
  • 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 (5.0/yr) # 75 7 5 6 6 1 100
vol $766M $766M
Sell (3.4/yr) # 29 4 6 4 3 - 46
vol $1.2B $74M $100M $778M $2.1B
  146

Most Recent M&A

Company Date Value Type
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
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
Onapsis, Inc. 2019-04-13 - Venture
Boston, Massachusetts · www.onapsis.com
CareATC, Inc. 2019-03-19 - Recapitalization
Tulsa, Oklahoma · www.careatc.com
LEARN Behavioral 2019-03-19 - Secondary Buyout
Baltimore, Maryland · www.learnbehavioral.com
BluVector, Inc. 2019-03-04 - Add-on Acquisition
McLean, Virginia · www.bluvectorcyber.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
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
Professional Capital Services LLC (PCS LLC) 2017-10-31 ASPire Financial Services LLC 2019-07-31 1
Philadelphia, Pennsylvania · www.pcs401k.com St. Petersburg, Florida · www.aspirefinserv.com
Acre LLC 2012-04-01 RS2 Technologies LLC 2019-04-18 3
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
Eye Health America LLC 2018-03-21 Donelson Eye Associates 2019-01-15 7
Alpharetta, Georgia · www.eyehealthamerica.com Greenville, South Carolina · www.donelsoneye.com
Acre LLC 2012-04-01 Open Options Corp. 2018-12-17 2
Las Vegas, Nevada · www.acre-co.com Addison, Texas · www.ooaccess.com
Agility Recovery Solutions, Inc. 2001-01-01 Rentsys Recovery Services, Inc. - Workspace Recovery Business Unit 2018-12-11 1
Charlotte, North Carolina · www.agilityrecovery.com College Station, Texas
Eye Health America LLC 2018-03-21 Updegraff Laser Vision 2018-11-06 6
Alpharetta, Georgia · www.eyehealthamerica.com St. Petersburg, Florida · www.updegraffvision.com

M&A by Sector

Sector Current # Value All-time # Value
Software 7 (13%) - 20 (20%) -
Information Technology 9 (17%) - 15 (15%) 16M (2%)
Financial Services 6 (11%) 75M (57%) 11 (11%) 694M (91%)
Internet Software and Services 10 (19%) - 11 (11%) -
Business Services 5 (9%) - 8 (8%) -
Education 6 (11%) - 8 (8%) -
Healthcare Services 4 (7%) - 8 (8%) -
Safety/Security 5 (9%) 56M (43%) 5 (5%) 56M (7%)
Medical Products 1 (2%) - 4 (4%) -
Communications - - 2 (2%) -
Retail - - 2 (2%) -
Automotive - - 1 (1%) -
Consumer Services - - 1 (1%) -
Distribution - - 1 (1%) -
Electrical Equipment 1 (2%) - 1 (1%) -
Life Science - - 1 (1%) -
Marketing - - 1 (1%) -
Total 54 $131M 100 $766M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 53 (98%) 131M (100%) 98 (98%) 766M (100%)
  Pennsylvania 9 (17%) 56M (43%) 25 (25%) 675M (88%)
  New Jersey 4 (7%) - 11 (11%) 16M (2%)
  New York 6 (11%) - 9 (9%) -
  Maryland 5 (9%) - 9 (9%) -
  Illinois 6 (11%) 75M (57%) 6 (6%) 75M (10%)
  Virginia 3 (6%) - 6 (6%) -
  Massachusetts 2 (4%) - 5 (5%) -
  Florida 3 (6%) - 4 (4%) -
  Tennessee 2 (4%) - 3 (3%) -
  North Carolina 2 (4%) - 2 (2%) -
  Wisconsin 1 (2%) - 2 (2%) -
  Texas 1 (2%) - 2 (2%) -
  Missouri 1 (2%) - 2 (2%) -
  Georgia 1 (2%) - 2 (2%) -
  Washington 1 (2%) - 1 (1%) -
  Utah 1 (2%) - 1 (1%) -
  Oklahoma 1 (2%) - 1 (1%) -
  Nevada 1 (2%) - 1 (1%) -
  Minnesota 1 (2%) - 1 (1%) -
  Michigan 1 (2%) - 1 (1%) -
  California 1 (2%) - 1 (1%) -
  Ohio - - 1 (1%) -
  Kentucky - - 1 (1%) -
  Indiana - - 1 (1%) -
Ireland 1 (2%) - 1 (1%) -
Netherlands - - 1 (1%) -
Domestic 53 (98%) 131M (100%) 98 (98%) 766M (100%)
Cross-border 1 (2%) - 2 (2%) -
Total 54 $131M 100 $766M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 31 (57%) 75M (57%) 55 (55%) 75M (10%)
Buyout (LBO, MBO, MBI) 6 (11%) - 17 (17%) -
Recapitalization 5 (9%) 56M (43%) 9 (9%) 56M (7%)
Secondary Buyout 8 (15%) - 9 (9%) -
Divestiture - - 3 (3%) 16M (2%)
Venture 2 (4%) - 3 (3%) -
Going Private - - 1 (1%) 619M (81%)
Acquisition Financing - - 1 (1%) -
Consolidation 1 (2%) - 1 (1%) -
Merger 1 (2%) - 1 (1%) -
Total 54 $131M 100 $766M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 22 (48%) 2.1B (97%)
Secondary Sale 9 (20%) -
Trade Sale 7 (15%) -
IPO 3 (7%) -
Merger 3 (7%) -
Divestiture 1 (2%) 74M (3%)
Sold to Management 1 (2%) -
Total 46 $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 3 $147M
TOTAL $766M
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)
25%
11 25%
Strategic(s)
75%
33 75%

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