Providence Equity Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

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

Providence Equity Partners’ most common sectors for investment aremedia (19%) and internet software and services (16%) . The Firm’s most common investment types include growth capital (28%) and secondary buyout (25%). In total, Providence Equity Partners has invested in 28 US states and 22 different countries. Its largest (disclosed) acquisition occurred in 2005 when it acquired TDC A/S for $15.8B.

In the last 3 years, Providence Equity Partners has exited 23 companies. The Firm’s most common exit type is trade sale (40%). Providence Equity Partners’ largest (disclosed) exit occurred in 2015 when it sold SunGard Data Systems for $9.1B.

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M&A Summary

  • M&A Total Activity240
    • M&A Buy Activity150
    • M&A Sell Activity90
  • Total Sectors Invested 17
  • Total Countries Invested 22
  • M&A Buy/Sell Connections 131
  • M&A Advisors 36

Providence Equity Partners

50 Kennedy Plaza, 18th Floor,
Providence, Rhode Island 02903
United States
(401) 751-1700
www.provequity.com
contact@provequity.com

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


Investment Criteria

Sectors of Interest: Business Services, Communications, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Education, Healthcare Services, Information Technology, Internet Software and Services, Leisure, Marketing, Media, Publishing, Retail, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia, Asia/Pacific, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 150 800
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (8.0/yr) # 110 10 13 7 8 2 150
vol $80.9B $6.0B $86.9B
Sell (5.4/yr) # 63 4 6 8 8 1 90
vol $61.4B $3.6B $9.6B $608M $75.3B
  240

Most Recent M&A

Company Date Value Type
Wasserman Media Group LLC 2022-11-01 - Secondary Buyout
Los Angeles, California · www.teamwass.com
Vistage Worldwide, Inc. 2022-06-08 - Secondary Buyout
San Diego, California · www.vistage.com
AirTies Wireless Networks 2022-04-27 - Secondary Buyout
Istanbul, Turkey · www.airties.com
Tes Global Ltd. 2021-12-07 - Secondary Buyout
London, United Kingdom · www.tes.com
Seesaw Learning, Inc. 2021-10-22 - Growth Capital
San Francisco, California · web.seesaw.me
Tenstreet LLC 2021-10-04 - Secondary Buyout
Tulsa, Oklahoma · www.tenstreet.com
Blackboard, Inc. 2021-09-13 - Merger
Reston, Virginia · www.blackboard.com
Marlink AS 2021-09-02 - Secondary Buyout
Paris, France · www.marlink.com
Visualfabriq Revenue Management B.V. 2021-07-19 - Growth Capital
Maarssen, Netherlands · www.visualfabriq.com
SchoolStatus LLC 2021-07-13 - Growth Capital
Ridgeland, Mississippi · www.schoolstatus.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Anthology, Inc. 2020-01-16 Blackboard, Inc. 2021-09-13 3
Boca Raton, Florida · www.anthology.com Reston, Virginia · www.blackboard.com
Anthology, Inc. 2020-01-16 Campus Labs LLC 2020-07-07 2
Boca Raton, Florida · www.anthology.com Buffalo, New York · www.campuslabs.com
I'Car Systems 2019-07-10 DATAFIRST 2019-07-10 1
Indre-et-loire, France · www.icarsystems.fr Lyon, France · www.datacar.com
SRA International, Inc. 2011-06-20 Qbase - Government Services business 2015-03-31 1
Fairfax, Virginia · www.sra.com , United States
SRA International, Inc. 2011-06-20 SRA Global Clinical Development LLC 2011-10-06 1
Fairfax, Virginia · www.sra.com Durham, North Carolina

M&A by Sector

Sector Current # Value All-time # Value
Media 9 (15%) 916M (9%) 28 (18%) 26.3B (29%)
Internet Software and Services 12 (20%) - 24 (16%) -
Software 14 (23%) - 23 (15%) 14.3B (16%)
Communications 4 (7%) 6.0B (62%) 20 (13%) 27.1B (30%)
Information Technology 9 (15%) 1.9B (19%) 20 (13%) 3.8B (4%)
Education 3 (5%) - 8 (5%) 3.9B (4%)
Marketing 5 (8%) 576M (6%) 6 (4%) 576M (1%)
Business Services - - 5 (3%) 1.8B (2%)
Consumer Services 2 (3%) 354M (4%) 4 (3%) 354M (< 1%)
Digital Media 1 (2%) - 3 (2%) 525M (1%)
Publishing - - 2 (1%) 3.1B (3%)
Retail 1 (2%) - 2 (1%) 173M (< 1%)
Leisure - - 2 (1%) -
Transportation - - 2 (1%) -
E-Commerce - - 1 (1%) 7.3B (8%)
Healthcare Services - - 1 (1%) -
Information Services - - 1 (1%) -
Total 60 $9.7B 152 $89.2B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 32 (53%) 1.9B (19%) 96 (63%) 54.9B (62%)
  California 7 (12%) - 16 (11%) 5.7B (6%)
  New York - - 9 (6%) 17.7B (20%)
  Massachusetts 2 (3%) - 8 (5%) -
  Virginia 2 (3%) 1.9B (19%) 7 (5%) 5.0B (6%)
  Pennsylvania 2 (3%) - 6 (4%) 14.8B (17%)
  Florida 1 (2%) - 6 (4%) -
  Colorado 3 (5%) - 4 (3%) -
  Georgia 2 (3%) - 4 (3%) 525M (1%)
  Illinois 1 (2%) - 4 (3%) 7.3B (8%)
  Texas 1 (2%) - 4 (3%) -
  Tennessee 1 (2%) - 4 (3%) -
  Arizona 1 (2%) - 3 (2%) -
  North Carolina 2 (3%) - 2 (1%) -
  Ohio 1 (2%) - 2 (1%) -
  Connecticut - - 2 (1%) 1.3B (1%)
  Missouri - - 2 (1%) 1.0B (1%)
  Washington - - 2 (1%) -
  Oklahoma 1 (2%) - 1 (1%) -
  Nevada 1 (2%) - 1 (1%) -
  Mississippi 1 (2%) - 1 (1%) -
  Michigan 1 (2%) - 1 (1%) -
  Indiana 1 (2%) - 1 (1%) -
  New Jersey - - 1 (1%) 1.4B (2%)
  Minnesota - - 1 (1%) 294M (< 1%)
  Alabama - - 1 (1%) -
  Oregon - - 1 (1%) -
  Maryland - - 1 (1%) -
United Kingdom 5 (8%) 926M (10%) 9 (6%) 1.7B (2%)
Spain 4 (7%) 6.0B (62%) 6 (4%) 9.5B (11%)
Netherlands 2 (3%) - 6 (4%) 3.1B (3%)
France 5 (8%) - 5 (3%) -
India 4 (7%) 58M (1%) 5 (3%) 888M (1%)
Canada 1 (2%) - 4 (3%) 981M (1%)
  Alberta 1 (2%) - 3 (2%) 145M (< 1%)
  Ontario - - 1 (1%) 836M (1%)
Finland 3 (5%) - 3 (2%) -
Sweden 1 (2%) 129M (1%) 3 (2%) 1.5B (2%)
Turkey 1 (2%) - 2 (1%) -
Germany - - 2 (1%) -
Italy 1 (2%) 732M (8%) 1 (1%) 732M (1%)
China 1 (2%) - 1 (1%) -
Denmark - - 1 (1%) 15.8B (18%)
Estonia - - 1 (1%) 91M (< 1%)
Belgium - - 1 (1%) -
Brazil - - 1 (1%) -
Hungary - - 1 (1%) -
Indonesia - - 1 (1%) -
Ireland - - 1 (1%) -
Switzerland - - 1 (1%) -
Ukraine - - 1 (1%) -
Domestic 32 (53%) 1.9B (19%) 96 (63%) 54.9B (62%)
Cross-border 28 (47%) 7.8B (81%) 56 (37%) 34.3B (38%)
Total 60 $9.7B 152 $89.2B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 28 (47%) - 42 (28%) -
Secondary Buyout 19 (32%) 1.1B (11%) 37 (24%) 8.8B (10%)
Buyout (LBO, MBO, MBI) 3 (5%) 6.0B (62%) 24 (16%) 9.7B (11%)
Divestiture 6 (10%) 129M (1%) 14 (9%) 6.0B (7%)
Stake Purchase 2 (3%) 54M (1%) 14 (9%) 1.3B (1%)
Going Private 2 (3%) 2.5B (25%) 11 (7%) 45.6B (51%)
Recapitalization - - 4 (3%) 2.1B (2%)
Venture - - 4 (3%) -
PIPE - - 2 (1%) 15.8B (18%)
Total 60 $9.7B 152 $89.2B

Exits by Deal Type

Type Total # Value
Secondary Sale 29 (32%) 9.7B (13%)
Trade Sale - Public Company 19 (21%) 42.5B (58%)
Trade Sale 19 (21%) 15.2B (21%)
IPO 8 (9%) -
Merger 5 (6%) 2.0B (3%)
Bankruptcy 4 (4%) -
Sold to Management 3 (3%) -
Stake Sale 2 (2%) -
Divestiture 1 (1%) 3.5B (5%)
Total 90 $72.9B

Top M&A Advisors

Financial Deals
Goldman Sachs Investment Banking Division
6
Bank of America Merrill Lynch (BofA Securities)
4
Barclays Investment Bank
4
Legal Deals
Weil Gotshal & Manges LLP
37
Debevoise & Plimpton LLP
5
Simpson Thacher & Bartlett LLP
2

Deal Values

buy # Total
> $1B 20 $83.0B
$100M to $1B 13 $6.1B
< $100M 3 $149M
TOTAL $89.2B
Largest TDC A/S
$15.8B (2005-11-01)
sell # Total
> $1B 18 $67.6B
$100M to $1B 17 $7.6B
TOTAL $75.3B
Largest SunGard Data Systems, Inc.
$9.1B (2015-08-12)

M&A Connections

Deals
Acquired from
Investor(s)
25%
38 (25%)
Strategic(s)
9%
13 (9%)
Exited to
Investor(s)
33%
30 (33%)
Strategic(s)
52%
47 (52%)

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