Saratoga Partners Mergers and Acquisitions Summary

Private Equity Profile

Saratoga Partners’ most common sectors for investment are business services (12%) and information technology (12%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (39%) and divestiture (23%). In total, Saratoga Partners has invested in 11 US states. Its largest (disclosed) acquisition occurred in 1989 when it acquired Formica for $405M.

The Firm’s most common exit type is trade sale (50%). Saratoga Partners’ largest (disclosed) exit occurred in 1995 when it sold Formica for $625M.

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M&A Summary

  • M&A Total Activity32
    • M&A Buy Activity18
    • M&A Sell Activity14
  • Total Sectors Invested 14
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 11
  • M&A Advisors 1

Saratoga Partners

535 Madison Avenue, 4th Floor,
New York, New York 10022
United States
(212) 906-7800
www.saratogapartners.com
saratoga@saratogapartners.com

Saratoga Partners is an independent private equity firm focused on investments in partnership with management in the manufacturing, business services and media and telecommunications industries. Saratoga pursues businesses valued from $50 to $400 million and generally acts as the lead investor. Target companies typically have leading market positions and operate in defensible niches with provide proprietary products. Prospective transaction situations include corporate buyouts, consolidations, and divestitures. Saratoga Partners dates back to 1984 and became independent in 1998. The Firm is based in New York City.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Diversified, Electrical Equipment, Engineering, Financial Services, Franchising, Information Technology, Insurance, Manufacturing, Media, Oil/Gas Exploration, Retail, Software

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 5 40
Investment Size 5 40
Enterprise Value 50 400
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.2/yr) # 17 1 - - - - 18
vol $586M $586M
Sell (0.2/yr) # 13 1 - - - - 14
vol $1.0B $1.0B
  32

Most Recent M&A

Company Date Value Type
Lighting Technologies Industry, Inc. 2016-11-03 - Divestiture
Baldwin Park, California · www.ltilighting.com
National Truck Protection Co. Inc. 2016-07-26 - Secondary Buyout
Cranford, New Jersey · www.ntpwarranty.com
Scovill Fasteners, Inc. 2011-04-01 - Bankruptcy
Clarkesville, Georgia · www.scovill.com
Data Return LLC 2007-05-14 85M USD Add-on Acquisition
Irving, Texas
National Truck Protection Co. Inc. 2007-04-01 - Growth Capital
Cranford, New Jersey · www.ntpwarranty.com
EUR Systems, Inc. 2006-07-18 14M USD Trade Sale
Mechanicsburg, Pennsylvania
Koppers, Inc. 2006-02-01 - IPO
Pittsburgh, Pennsylvania · www.koppers.com
NAT, Inc. 2005-05-23 - Trade Sale
Rosemont, Illinois · www.natinc.com
Sericol, Inc. 2005-01-19 230M USD Add-on Acquisition
Kansas City, Kansas
Advanced Lighting Technologies LLC 2003-12-10 - Special Situations/Distressed
Glenwillow, Ohio · www2.adlt.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Commsoft 2001-02-19 Connexn Technologies, Inc. 2005-01-01 1
Rensselaer, New York · www.commsoft.net Broomfield, Colorado

M&A by Sector

Sector Current # Value All-time # Value
Business Services - - 2 (11%) -
Information Technology - - 2 (11%) -
Manufacturing 1 (25%) - 2 (11%) -
Software 1 (25%) - 2 (11%) -
Building Materials - - 1 (6%) 405M (69%)
Consumer Products - - 1 (6%) 115M (20%)
Retail - - 1 (6%) 66M (11%)
Apparel/Textiles - - 1 (6%) -
Automotive - - 1 (6%) -
Consumer Services - - 1 (6%) -
Diversified - - 1 (6%) -
Electrical Equipment 1 (25%) - 1 (6%) -
Engineering 1 (25%) - 1 (6%) -
Insurance - - 1 (6%) -
Total 4 - 18 $586M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 4 (100%) - 18 (100%) 586M (100%)
  California 2 (50%) - 4 (22%) 66M (11%)
  Ohio 1 (25%) - 3 (17%) 405M (69%)
  Texas - - 2 (11%) -
  Pennsylvania - - 2 (11%) -
  New York 1 (25%) - 1 (6%) -
  Kansas - - 1 (6%) 115M (20%)
  Washington - - 1 (6%) -
  New Jersey - - 1 (6%) -
  Illinois - - 1 (6%) -
  Georgia - - 1 (6%) -
Total 4 - 18 $586M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 2 (50%) - 7 (39%) 471M (80%)
Divestiture 1 (25%) - 4 (22%) 115M (20%)
Stake Purchase - - 4 (22%) -
Special Situations/Distressed 1 (25%) - 2 (11%) -
Growth Capital - - 1 (6%) -
Total 4 - 18 $586M

Exits by Deal Type

Type Total # Value
Trade Sale 7 (50%) 639M (64%)
Trade Sale - Public Company 3 (21%) 367M (36%)
Bankruptcy 1 (7%) -
IPO 1 (7%) -
Merger 1 (7%) -
Secondary Sale 1 (7%) -
Total 14 $1.0B

Top M&A Advisors

Financial Deals
Pharus Advisors Holdings LLC
1

Deal Values

buy # Total
$100M to $1B 2 $520M
< $100M 1 $66M
TOTAL $586M
Largest Formica Corp.
$405M (1989-09-01)
sell # Total
$100M to $1B 2 $855M
< $100M 3 $151M
TOTAL $1.0B
Largest Formica Corp.
$625M (1995-01-01)

M&A Connections

Deals %
Acquired from
Strategic(s)
100%
3 100%
Exited to
PE Firm(s)
20%
1 20%
Strategic(s)
80%
4 80%

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