New Mountain Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, New Mountain Capital has acquired 18 companies. It has also invested in 5 others.

New Mountain Capital’s most common sectors for investment are information technology (20%) and software (12%). The Firm’s most common investment types include secondary buyout (40%) and buyout (lbo, mbo, mbi) (18%). In total, New Mountain Capital has invested in 22 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2020 when it acquired Alight Solutions for $4.8B.

In the last 3 years, New Mountain Capital has exited 11 companies. The Firm’s most common exit type is trade sale (46%). New Mountain Capital’s largest (disclosed) exit occurred in 2019 when it sold Equian for $3.2B.

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M&A Summary

  • M&A Total Activity94
    • M&A Buy Activity63
    • M&A Sell Activity31
  • Total Sectors Invested 25
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 43
  • M&A Advisors 18

New Mountain Capital

787 7th Avenue, 49th Floor,
New York, New York 10019
United States
(212) 720-0300
www.newmountaincapital.com

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.


Investment Criteria

Sectors of Interest: Business Services, Chemicals, Consumer Products, Defense, Distribution, Education, Energy Services and Equipment, Environmental, Financial Services, Healthcare Services, Information Technology, Insurance, Life Science, Marketing, Media, Medical Products, Oil/Gas Exploration, Software, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Special Situations/Distressed, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 100 500
Enterprise Value 100 1,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (5.6/yr) # 35 5 9 5 5 4 63
vol $7.0B $560M $4.8B $12.4B
Sell (3.0/yr) # 16 4 - 6 3 2 31
vol $7.4B $380M $1.3B $3.2B $2.7B $14.9B
  94

Most Recent M&A

Company Date Value Type
Digital Insurance LLC 2020-10-08 2.7B USD Secondary Buyout
Atlanta, Georgia · www.onedigital.com
Gelest, Inc. 2020-04-30 - Add-on Acquisition
Morrisville, Pennsylvania · www.gelest.com
Pearce Services, Inc. 2020-04-14 - Secondary Buyout
Paso Robles, California · www.pearce-services.com
Alight Solutions 2020-02-10 4.8B USD Divestiture
Lincolnshire, Illinois · www.alight.com
ILC Dover, Inc. 2020-02-03 - Secondary Buyout
Frederica, Delaware · www.ilcdover.com
Classic Collision, Inc. 2020-01-16 - Stake Purchase
Atlanta, Georgia · www.classiccollision.net
Horizon Services, Inc. 2019-11-13 - Secondary Buyout
Wilmington, Delaware · www.horizonservices.com
Emids 2019-09-26 - Secondary Buyout
Franklin, Tennessee · www.emids.com
Ontario Systems LLC 2019-08-22 - Secondary Buyout
Muncie, Indiana · www.ontariosystems.com
Remedy Partners, Inc. 2019-08-20 - Merger
Norwalk, Connecticut · www.remedypartners.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
W2O Group 2019-05-29 Starpower LLC 2020-10-05 7
San Francisco, California · www.w2ogroup.com New York, New York · www.starpowerllc.com
W2O Group 2019-05-29 Elysia Group LLC 2020-09-24 6
San Francisco, California · www.w2ogroup.com New York, New York · www.elysiagroup.com
Zep, Inc. 2015-04-08 EcoClear LLC 2020-09-10 2
Atlanta, Georgia · www.zepinc.com Canton, Georgia · www.ecoclearclean.com
ILC Dover, Inc. 2020-02-03 Solo Containment Ltd. 2020-09-09 1
Frederica, Delaware · www.ilcdover.com Stockport, United Kingdom · www.solocontainment.com
Emids 2019-09-26 FlexTech, Inc. 2020-08-20 1
Franklin, Tennessee · www.emids.com Incline Village, Nevada · www.flextech.com
Revint Solutions 2017-12-13 Praxis Healthcare Solutions LLC 2020-08-18 6
Oakbrook, Illinois · www.revintsolutions.com Plano, Texas · www.praxishcsolutions.com
MAG Aerospace Corp. 2018-06-07 Remotely Piloted Solutions LLC 2020-08-17 6
Sterling, Virginia · www.magaero.com Dallas, Texas · www.rpsisr.com
W2O Group 2019-05-29 Discern Health 2020-07-28 5
San Francisco, California · www.w2ogroup.com Baltimore, Maryland · www.discernhealth.com
CIOX Health 2014-10-31 Medal, Inc. 2020-07-28 4
Alpharetta, Georgia · www.cioxhealth.com San Francisco, California · www.medal.com
Blue Yonder, Inc. 2016-08-19 Yantriks LLC 2020-07-23 2
Scottsdale, Arizona · www.blueyonder.com Westborough, Massachusetts · www,yantriks.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 5 (17%) 4.8B (87%) 12 (19%) 5.0B (41%)
Software 5 (17%) - 7 (11%) 200M (2%)
Insurance - - 5 (8%) 3.5B (28%)
Chemicals 2 (7%) 692M (13%) 5 (8%) 1.4B (12%)
Business Services 1 (3%) - 4 (6%) -
Healthcare Services 2 (7%) - 3 (5%) -
Life Science - - 2 (3%) 1.6B (13%)
Environmental - - 2 (3%) 655M (5%)
Distribution 2 (7%) - 2 (3%) -
Engineering 2 (7%) - 2 (3%) -
Information Services - - 2 (3%) -
Internet Software and Services 2 (7%) - 2 (3%) -
Marketing 1 (3%) - 2 (3%) -
Medical Products 1 (3%) - 2 (3%) -
Aerospace 1 (3%) - 1 (2%) -
Apparel/Textiles 1 (3%) - 1 (2%) -
Automotive 1 (3%) - 1 (2%) -
Consumer Products 1 (3%) - 1 (2%) -
Consumer Services 1 (3%) - 1 (2%) -
Defense - - 1 (2%) -
Education - - 1 (2%) -
Financial Services - - 1 (2%) -
Safety/Security 1 (3%) - 1 (2%) -
Staffing - - 1 (2%) -
Transportation - - 1 (2%) -
Total 29 $5.5B 63 $12.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 29 (100%) 5.5B (100%) 59 (94%) 10.8B (87%)
  Florida 2 (7%) - 6 (10%) -
  California 4 (14%) - 5 (8%) 735M (6%)
  Georgia 3 (10%) 692M (13%) 5 (8%) 1.3B (10%)
  New York 3 (10%) - 5 (8%) -
  Virginia 1 (3%) - 5 (8%) 200M (2%)
  Illinois 3 (10%) 4.8B (87%) 4 (6%) 4.8B (39%)
  New Jersey 1 (3%) - 3 (5%) 1.6B (13%)
  Connecticut 1 (3%) - 3 (5%) 655M (5%)
  Texas 2 (7%) - 2 (3%) -
  Delaware 2 (7%) - 2 (3%) -
  Indiana 1 (3%) - 2 (3%) 225M (2%)
  Tennessee 1 (3%) - 2 (3%) -
  Massachusetts 1 (3%) - 2 (3%) -
  Maryland 1 (3%) - 2 (3%) -
  North Carolina - - 2 (3%) 1.3B (11%)
  Alabama - - 2 (3%) -
  Pennsylvania - - 2 (3%) -
  Arizona 1 (3%) - 1 (2%) -
  Ohio 1 (3%) - 1 (2%) -
  Missouri 1 (3%) - 1 (2%) -
  Louisiana - - 1 (2%) -
  Kansas - - 1 (2%) -
Bermuda - - 2 (3%) -
Switzerland - - 1 (2%) 1.6B (13%)
United Kingdom - - 1 (2%) -
Domestic 29 (100%) 5.5B (100%) 59 (94%) 10.8B (87%)
Cross-border - - 4 (6%) 1.6B (13%)
Total 29 $5.5B 63 $12.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 16 (55%) - 25 (40%) 1.6B (15%)
Buyout (LBO, MBO, MBI) 1 (3%) - 11 (17%) 1.6B (15%)
Growth Capital 5 (17%) - 9 (14%) -
Recapitalization 2 (7%) - 5 (8%) 1.3B (12%)
Stake Purchase 1 (3%) - 5 (8%) 200M (2%)
PIPE - - 3 (5%) -
Divestiture 1 (3%) 4.8B (87%) 2 (3%) 5.4B (50%)
Going Private 2 (7%) 692M (13%) 2 (3%) 692M (6%)
Special Situations/Distressed 1 (3%) - 1 (2%) -
Total 29 $5.5B 63 $10.8B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 12 (39%) 11.0B (74%)
Secondary Sale 7 (23%) 3.9B (26%)
Merger 5 (16%) -
IPO 4 (13%) -
Trade Sale 2 (6%) -
Stake Sale 1 (3%) -
Total 31 $14.9B

Top M&A Advisors

Financial Deals
Jefferies LLC
 3
Credit Suisse Investment Banking
 3
Triple Tree LLC
 2
Legal Deals
Fried Frank Harris Shriver & Jacobson LLP
 6
Ropes & Gray LLP
 5
Willkie Farr & Gallagher LLP
 2

Deal Values

buy # Total
> $1B 4 $9.3B
$100M to $1B 6 $3.1B
TOTAL $12.4B
Largest Alight Solutions
$4.8B (2020-02-10)
sell # Total
> $1B 6 $13.7B
$100M to $1B 4 $1.2B
< $100M 1 $53M
TOTAL $14.9B
Largest Equian LLC
$3.2B (2019-06-21)

M&A Connections

Deals %
Acquired from
PE Firm(s)
97%
33 97%
Strategic(s)
3%
1 3%
Exited to
PE Firm(s)
39%
12 39%
Strategic(s)
61%
19 61%

Investor Summary

Size

Mega

PE Assets

20.0B USD

Established

2000

Specialist/Generalist

Generalist

Leadership

Steven Klinsky

Founder & CEO

Thomas Decarlo

Director

Adam Weinstein

Managing Director

Albert Notini

Managing Director

Andre Moura

Managing Director

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