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 20 others.

Serent Capital’s most common sectors for investment are software (48%) and internet software and services (15%). The Firm’s most common investment types include growth capital (84%) and buyout (lbo, mbo, mbi) (7%). In total, Serent Capital has invested in 21 US states and 2 different countries.

In the last 3 years, Serent Capital has exited 5 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 Activity61
    • M&A Buy Activity48
    • M&A Sell Activity13
  • Total Sectors Invested 12
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 18
  • M&A Advisors 6

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 (5.4/yr) # 21 3 11 3 6 4 48
Sell (1.2/yr) # 7 1 1 1 2 1 13
vol $400M $400M
  61

Most Recent M&A

Company Date Value Type
BQE Software, Inc. 2021-03-24 - Growth Capital
Torrance, California · www.bqe.com
CoConstruct 2021-02-24 - Add-on Acquisition
Charlottesville, Virginia · www.coconstruct.com
Buildertrend 2021-02-24 - Growth Capital
Omaha, Nebraska · www.buildertrend.com
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
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 22 (59%) - 23 (48%) -
Internet Software and Services 6 (16%) - 7 (15%) -
Healthcare Services 5 (14%) - 6 (13%) -
Information Technology 1 (3%) - 3 (6%) -
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 37 - 48 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 35 (95%) - 46 (96%) -
  Texas 7 (19%) - 10 (21%) -
  California 4 (11%) - 5 (10%) -
  Georgia 3 (8%) - 4 (8%) -
  Virginia 3 (8%) - 3 (6%) -
  Florida 3 (8%) - 3 (6%) -
  Maryland 1 (3%) - 3 (6%) -
  District of Columbia 2 (5%) - 2 (4%) -
  Arizona 2 (5%) - 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%) -
  Nebraska 1 (3%) - 1 (2%) -
  Mississippi 1 (3%) - 1 (2%) -
  Minnesota 1 (3%) - 1 (2%) -
  Michigan 1 (3%) - 1 (2%) -
  Illinois 1 (3%) - 1 (2%) -
  Rhode Island - - 1 (2%) -
  Oklahoma - - 1 (2%) -
  Idaho - - 1 (2%) -
Canada 2 (5%) - 2 (4%) -
  Ontario 2 (5%) - 2 (4%) -
Domestic 35 (95%) - 46 (96%) -
Cross-border 2 (5%) - 2 (4%) -
Total 37 - 48 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 31 (84%) - 40 (83%) -
Buyout (LBO, MBO, MBI) 2 (5%) - 3 (6%) -
Divestiture 1 (3%) - 2 (4%) -
Add-on Acquisition 1 (3%) - 1 (2%) -
Recapitalization 1 (3%) - 1 (2%) -
Secondary Buyout 1 (3%) - 1 (2%) -
Total 37 - 48 -

Exits by Deal Type

Type Total # Value
Trade Sale 6 (46%) -
Trade Sale - Public Company 5 (38%) 400M (100%)
Secondary Sale 2 (15%) -
Total 13 $400M

Top M&A Advisors

Financial Deals
Lincoln International
 1
MHT Partners LP
 1
mAccounting
 1
Legal Deals
Kirkland & Ellis LLP
 1
Choate Hall & Stewart LLP
 1
Polsinelli PC
 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)
15%
2 (15%)
Strategic(s)
85%
11 (85%)

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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