Milestone Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Milestone Partners has acquired 2 companies.

Milestone Partners’ most common sectors for investment arefinancial services (10%) and business services (8%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (58%) and recapitalization (15%). In total, Milestone Partners has invested in 20 US states and 2 different countries.

In the last 3 years, Milestone Partners has exited 3 companies. The Firm’s most common exit type is trade sale (42%). Milestone Partners’ largest (disclosed) exit occurred in 2021 when it sold Heights Finance for $360M.

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M&A Summary

  • M&A Total Activity64
    • M&A Buy Activity40
    • M&A Sell Activity24
  • Total Sectors Invested 26
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 34
  • M&A Advisors 4

Milestone Partners

555 East Lancaster Avenue, Suite 500,
Radnor, Pennsylvania 19087
United States
(610) 526-2700
www.milestonepartners.com
m2900@milestonepartners.com

Milestone Partners is a lower middle-market private equity firm specializing in investments in manufacturing, distribution, and service companies. Milestone looks for businesses valued up to $250 million with EBITDA of $5 to $50 million. The Firm's target revenue size is $10 to $250 million. Milestone prefers companies with growth potential and proven management. The firm invests in businesses valued from $25 to $250 million with an equity investment target of $10 to $40 million. The Firm will not invest in businesses in high cyclical industries, with low barriers to entry, or have a high reliance on technology. Milestone Partners was formed in 1995 and is based in Radnor, Pennsylvania.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Business Services, Communications, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Financial Services, Food, Manufacturing, Marketing, Metals/Mining, Restaurants, Safety/Security, Software, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Secondary Buyout, Stake Purchase, Add-on Acquisition

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

Transaction Criteria Min Max
Target Revenue 10 250
Target EBITDA 5 50
Investment Size 10 40
Enterprise Value 25 250
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.8/yr) # 36 2 - 1 - 1 40
Sell (1.0/yr) # 19 2 1 - 2 - 24
vol $717M $360M $1.1B
  64

Most Recent M&A

Company Date Value Type
Drive Assurance Holdings LLC 2022-05-26 - Consolidation
Radnor, Pennsylvania
Heights Finance 2021-11-17 360M USD Add-on Acquisition
Greenville, South Carolina · www.heightsfinance.com
G5, Inc. 2021-07-20 - Add-on Acquisition
Bend, Oregon · www.getg5.com
Insure Homes Holdings LLC 2020-12-31 - Consolidation
Jacksonville, Florida
EnterpriseDB Corp. 2019-06-26 - Secondary Buyout
Bedford, Massachusetts · www.enterprisedb.com
Cafe Enterprises, Inc. 2018-12-01 - Unknown
Taylors, South Carolina · www.cafeent.com
RedZone Robotics, Inc. 2018-06-07 - Secondary Buyout
Pittsburgh, Pennsylvania · www.redzone.com
mTAB LLC 2018-05-31 - Buyout (LBO, MBO, MBI)
Anaheim, California · www.mtab.com
Freestyle Solutions, Inc. 2018-02-22 - Add-on Acquisition
Totowa, New Jersey · www.freestylesolutions.com
eCommission Financial Services, Inc. 2017-08-29 - Secondary Buyout
Austin, Texas · www.ecommission.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Pancon Corp. 2011-11-15 Sunstone Components Group, Inc. 2013-08-02 1
Stoughton, Massachusetts · www.panconcorp.com Temecula, California · www.4scg.com

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 2 (17%) - 4 (10%) -
Business Services 1 (8%) - 3 (8%) -
Consumer Products - - 3 (8%) -
Internet Software and Services 2 (17%) - 3 (8%) -
Apparel/Textiles - - 2 (5%) -
Electrical Equipment 1 (8%) - 2 (5%) -
Insurance 2 (17%) - 2 (5%) -
Manufacturing - - 2 (5%) -
Transportation - - 2 (5%) -
Automotive 1 (8%) - 1 (3%) -
Building Materials - - 1 (3%) -
Digital Media - - 1 (3%) -
Distribution - - 1 (3%) -
E-Commerce - - 1 (3%) -
Education - - 1 (3%) -
Environmental 1 (8%) - 1 (3%) -
Food - - 1 (3%) -
Information Technology 1 (8%) - 1 (3%) -
Machinery - - 1 (3%) -
Marketing - - 1 (3%) -
Metals/Mining 1 (8%) - 1 (3%) -
Packaging - - 1 (3%) -
Restaurants - - 1 (3%) -
Safety/Security - - 1 (3%) -
Software - - 1 (3%) -
Test/Measurement Equipment - - 1 (3%) -
Total 12 - 40 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (100%) - 39 (98%) -
  Pennsylvania 3 (25%) - 6 (15%) -
  South Carolina 2 (17%) - 5 (13%) -
  Florida 2 (17%) - 3 (8%) -
  California 1 (8%) - 3 (8%) -
  Massachusetts 1 (8%) - 2 (5%) -
  Illinois 1 (8%) - 2 (5%) -
  Georgia 1 (8%) - 2 (5%) -
  Texas - - 2 (5%) -
  Maryland - - 2 (5%) -
  Kansas - - 2 (5%) -
  Delaware 1 (8%) - 1 (3%) -
  Wisconsin - - 1 (3%) -
  Tennessee - - 1 (3%) -
  Oregon - - 1 (3%) -
  North Carolina - - 1 (3%) -
  New York - - 1 (3%) -
  New Jersey - - 1 (3%) -
  Michigan - - 1 (3%) -
  Indiana - - 1 (3%) -
  Idaho - - 1 (3%) -
Canada - - 1 (3%) -
  Ontario - - 1 (3%) -
Domestic 12 (100%) - 39 (98%) -
Cross-border - - 1 (3%) -
Total 12 - 40 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (33%) - 23 (58%) -
Recapitalization 3 (25%) - 6 (15%) -
Growth Capital 1 (8%) - 4 (10%) -
Secondary Buyout 1 (8%) - 3 (8%) -
Consolidation 2 (17%) - 2 (5%) -
Divestiture 1 (8%) - 1 (3%) -
Stake Purchase - - 1 (3%) -
Total 12 - 40 -

Exits by Deal Type

Type Total # Value
Secondary Sale 9 (38%) -
Trade Sale 7 (29%) 545M (51%)
Trade Sale - Public Company 4 (17%) 532M (49%)
Unknown 4 (17%) -
Total 24 $1.1B

Top M&A Advisors

Financial Deals
Petsky Prunier LLC
1
Janney Montgomery Scott LLC
1
Legal Deals
Troutman Pepper Hamilton Sanders LLP
8
Drinker Biddle & Reath LLP
3

Deal Values

sell # Total
$100M to $1B 4 $1.0B
< $100M 1 $57M
TOTAL $1.1B
Largest Heights Finance
$360M (2021-11-17)

M&A Connections

Deals
Acquired from
Investor(s)
8%
3 (8%)
Strategic(s)
3%
1 (3%)
Exited to
Investor(s)
38%
9 (38%)
Strategic(s)
46%
11 (46%)

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