Serent Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Serent Capital has acquired 4 companies. It has also invested in 18 others.

Serent Capital’s most common sectors for investment are software (48%) and healthcare services (14%). The Firm’s most common investment types include growth capital (83%) and buyout (lbo, mbo, mbi) (7%). In total, Serent Capital has invested in 20 US states and 2 different countries.

In the last 3 years, Serent Capital has exited 4 companies. The Firm’s most common exit type is trade sale (84%). Serent Capital’s largest (disclosed) exit occurred in 2016 when it sold Cardon Outreach for $400M.

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M&A Summary

  • M&A Total Activity58
    • M&A Buy Activity46
    • M&A Sell Activity12
  • Total Sectors Invested 12
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 15
  • M&A Advisors 4

Serent Capital

3 Embarcadero Center #410,
San Francisco, California 94111
United States
(415) 343-1050
www.serentcapital.com
info@serentcapital.com

Serent Capital is a private equity firm focused on investing in profitable, growing businesses featuring scalable business models and operating in sectors undergoing significant change. Serent looks for companies with $5 to $100 million in annual sales and EBITDA up to $15 million. The Firm can commit $5 to $100 million of capital per transaction. Target transaction situations include buyouts, recapitalizations, and growth financings. Serent Capital was formed in 2008 and is based in San Francisco, California.


Investment Criteria

Sectors of Interest: Business Services, Consumer Services, Education, Financial Services, Healthcare Services, Information Technology, Internet Software and Services, Life Science, Machinery, Manufacturing, Medical Products, Retail, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization

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

Transaction Criteria Min Max
Target Revenue 5 100
Target EBITDA - 15
Investment Size 10 50
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (5.0/yr) # 21 3 11 3 6 2 46
Sell (1.0/yr) # 7 1 1 1 2 - 12
vol $400M $400M
  58

Most Recent M&A

Company Date Value Type
Book4Time, Inc. 2021-01-11 - Growth Capital
Markham, Ontario · www.book4time.com
XDimensional Technologies, Inc. 2021-01-06 - Growth Capital
Brea, California · www.xdti.com
Procurement Partners LLC 2020-12-03 - Growth Capital
Brookfield, Wisconsin · www.procurementpartners.com
Employer Direct Healthcare 2020-10-28 - Secondary Buyout
Dallas, Texas · www.edhc.com
Actionstep 2020-09-30 - Growth Capital
Richmond, Virginia · www.actionstep.com
Quorum Analytics, Inc. 2020-08-19 - Growth Capital
Washington, District of Columbia · www.quorum.us
Pondera Solutions 2020-03-19 - Add-on Acquisition
Folsom, California · www.ponderasolutions.com
Sceptre Hospitality Resources LLC 2020-03-16 - Growth Capital
Houston, Texas · www.shr.global
First American Docutech 2020-02-13 - Add-on Acquisition
Idaho Falls, Idaho · www.docutech.com
epay3, Inc. 2020-01-08 - Growth Capital
Austin, Texas · www.epaypolicy.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
MeridianLink, Inc. 2018-06-13 TazWorks LLC 2020-12-02 1
Costa Mesa, California · www.meridianlink.com Draper, Utah · www.tazworks.com
Davisware, Inc. 2019-08-22 Davisware, Inc. - Wintac Brand 2020-09-22 1
West Dundee, Illinois · www.davisware.com West Dundee, Illinois
Senior Dental Care 2018-08-13 Senior Vision Services 2020-02-27 1
Blountstown, Florida · www.myseniordentalcare.com Omaha, Nebraska · www.seniorvisionservices.com
TalentWave 2015-02-24 Synergy Services, Inc. 2015-10-19 1
Denver, Colorado · www.talentwave.com Denver, Colorado · www.synergyservicescorp.com

M&A by Sector

Sector Current # Value All-time # Value
Software 21 (60%) - 22 (48%) -
Healthcare Services 5 (14%) - 6 (13%) -
Internet Software and Services 5 (14%) - 6 (13%) -
Information Technology 1 (3%) - 3 (7%) -
Financial Services - - 2 (4%) -
Business Services - - 1 (2%) -
Education 1 (3%) - 1 (2%) -
Machinery - - 1 (2%) -
Marketing - - 1 (2%) -
Retail - - 1 (2%) -
Safety/Security 1 (3%) - 1 (2%) -
Staffing 1 (3%) - 1 (2%) -
Total 35 - 46 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 33 (94%) - 44 (96%) -
  Texas 7 (20%) - 10 (22%) -
  Georgia 3 (9%) - 4 (9%) -
  California 3 (9%) - 4 (9%) -
  Florida 3 (9%) - 3 (7%) -
  Virginia 3 (9%) - 3 (7%) -
  Maryland 1 (3%) - 3 (7%) -
  District of Columbia 2 (6%) - 2 (4%) -
  Arizona 2 (6%) - 2 (4%) -
  Colorado 1 (3%) - 2 (4%) -
  Wisconsin 1 (3%) - 1 (2%) -
  Utah 1 (3%) - 1 (2%) -
  Ohio 1 (3%) - 1 (2%) -
  New York 1 (3%) - 1 (2%) -
  Mississippi 1 (3%) - 1 (2%) -
  Minnesota 1 (3%) - 1 (2%) -
  Michigan 1 (3%) - 1 (2%) -
  Illinois 1 (3%) - 1 (2%) -
  Idaho - - 1 (2%) -
  Rhode Island - - 1 (2%) -
  Oklahoma - - 1 (2%) -
Canada 2 (6%) - 2 (4%) -
  Ontario 2 (6%) - 2 (4%) -
Domestic 33 (94%) - 44 (96%) -
Cross-border 2 (6%) - 2 (4%) -
Total 35 - 46 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 29 (83%) - 38 (83%) -
Buyout (LBO, MBO, MBI) 2 (6%) - 3 (7%) -
Divestiture 1 (3%) - 2 (4%) -
Add-on Acquisition 1 (3%) - 1 (2%) -
Recapitalization 1 (3%) - 1 (2%) -
Secondary Buyout 1 (3%) - 1 (2%) -
Total 35 - 46 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 5 (42%) 400M (100%)
Trade Sale 5 (42%) -
Secondary Sale 2 (17%) -
Total 12 $400M

Top M&A Advisors

Financial Deals
MHT Partners LP
 1
mAccounting
 1
Lincoln International
 1
Legal Deals
Kirkland & Ellis LLP
 1

Deal Values

sell # Total
$100M to $1B 1 $400M
TOTAL $400M
Largest Cardon Outreach LLC
$400M (2016-06-13)

M&A Connections

Deals
Acquired from
Investor(s)
33%
1 (33%)
Strategic(s)
67%
2 (67%)
Exited to
Investor(s)
17%
2 (17%)
Strategic(s)
83%
10 (83%)

Investor Summary

Size

Large

PE Assets

1.6B USD

Established

2008

Specialist/Generalist

Generalist

Leadership

David Kennedy

Partner

Kevin Frick

Partner

Lance Fenton

Partner

Amy Abbott

CFO

Prital Kadakia

Partner

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