Serent Capital Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Serent Capital has acquired 4 companies. It has also invested in 25 others.

Serent Capital’s most common sectors for investment aresoftware (48%) and internet software and services (17%) . The Firm’s most common investment types include growth capital (85%) and buyout (lbo, mbo, mbi) (6%). In total, Serent Capital has invested in 22 US states and 2 different countries.

In the last 3 years, Serent Capital has exited 11 companies. The Firm’s most common exit type is trade sale (85%). 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 Activity72
    • M&A Buy Activity53
    • M&A Sell Activity19
  • Total Sectors Invested 12
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 23
  • M&A Advisors 8

Serent Capital

44 Montgomery St, Suite 3450,
San Francisco, California 94104
United States
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 (6.4/yr) # 21 3 12 3 6 8 53
Sell (2.4/yr) # 7 1 1 1 2 7 19
vol $400M $400M
  72

Most Recent M&A

Company Date Value Type
Millennium Systems International 2021-09-22 - Growth Capital
Parsippany, New Jersey · www.millenniumsi.com
Next Gear Solutions LLC 2021-09-15 - Add-on Acquisition
Oxford, Mississippi · www.nextgearsolutions.com
ParentSquare 2021-08-03 - Growth Capital
Goleta, California · www.parentsquare.com
First Due 2021-07-29 - Growth Capital
Garden City, New York · www.firstdue.com
MeridianLink, Inc. 2021-07-27 - IPO
Costa Mesa, California · www.meridianlink.com
Real Green Systems 2021-06-22 - Add-on Acquisition
Walled Lake, Michigan · www.realgreen.com
Digital Architecture Group, Inc. 2021-06-10 - Add-on Acquisition
Lakeland, Florida · www.digarc.com
Compeat, Inc. 2021-06-10 - Add-on Acquisition
Austin, Texas · www.compeat.com
TalentWave 2021-06-08 - Add-on Acquisition
Denver, Colorado · www.talentwave.com
Education Advanced, Inc. 2021-04-29 - Growth Capital
Tyler, Texas · www.educationadvanced.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Davisware, Inc. 2019-08-22 Davisware, Inc. - Wintac Brand 2020-09-22 1
West Dundee, Illinois · www.davisware.com West Dundee, Illinois

M&A by Sector

Sector Current # Value All-time # Value
Software 19 (53%) - 25 (47%) -
Internet Software and Services 8 (22%) - 9 (17%) -
Healthcare Services 5 (14%) - 6 (11%) -
Information Technology 1 (3%) - 3 (6%) -
Financial Services - - 2 (4%) -
Staffing 1 (3%) - 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%) -
Total 36 - 53 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 34 (94%) - 51 (96%) -
  Texas 7 (19%) - 11 (21%) -
  California 5 (14%) - 7 (13%) -
  Georgia 3 (8%) - 4 (8%) -
  Virginia 3 (8%) - 3 (6%) -
  Florida 2 (6%) - 3 (6%) -
  Maryland 1 (3%) - 3 (6%) -
  New York 2 (6%) - 2 (4%) -
  District of Columbia 2 (6%) - 2 (4%) -
  Arizona 2 (6%) - 2 (4%) -
  Colorado - - 2 (4%) -
  Wisconsin 1 (3%) - 1 (2%) -
  Utah 1 (3%) - 1 (2%) -
  Ohio 1 (3%) - 1 (2%) -
  New Jersey 1 (3%) - 1 (2%) -
  Nebraska 1 (3%) - 1 (2%) -
  Minnesota 1 (3%) - 1 (2%) -
  Illinois 1 (3%) - 1 (2%) -
  Rhode Island - - 1 (2%) -
  Oklahoma - - 1 (2%) -
  Mississippi - - 1 (2%) -
  Michigan - - 1 (2%) -
  Idaho - - 1 (2%) -
Canada 2 (6%) - 2 (4%) -
  Ontario 2 (6%) - 2 (4%) -
Domestic 34 (94%) - 51 (96%) -
Cross-border 2 (6%) - 2 (4%) -
Total 36 - 53 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 32 (89%) - 45 (85%) -
Buyout (LBO, MBO, MBI) 1 (3%) - 3 (6%) -
Divestiture - - 2 (4%) -
Add-on Acquisition 1 (3%) - 1 (2%) -
Recapitalization 1 (3%) - 1 (2%) -
Secondary Buyout 1 (3%) - 1 (2%) -
Total 36 - 53 -

Exits by Deal Type

Type Total # Value
Trade Sale 11 (58%) -
Trade Sale - Public Company 5 (26%) 400M (100%)
Secondary Sale 2 (11%) -
IPO 1 (5%) -
Total 19 $400M

Top M&A Advisors

Financial Deals
mAccounting
 1
Lincoln International
 1
MHT Partners LP
 1
Legal Deals
Choate Hall & Stewart LLP
 2
Polsinelli PC
 2
Gibson, Dunn & Crutcher 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)
2%
1 (2%)
Strategic(s)
4%
2 (4%)
Exited to
Investor(s)
11%
2 (11%)
Strategic(s)
84%
16 (84%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Large

PE Assets

1.6B USD

Established

2008

Specialist/Generalist

Generalist

Leadership

Kevin Frick

Co-founder & Partner

David Kennedy

Partner

Lance Fenton

Partner

Prital Kadakia

Partner

Stewart Lynn

Partner

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