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 23 others.

Serent Capital’s most common sectors for investment are software (46%) and internet software and services (18%). The Firm’s most common investment types include growth capital (85%) and buyout (lbo, mbo, mbi) (6%). In total, Serent Capital has invested in 21 US states and 2 different countries.

In the last 3 years, Serent Capital has exited 9 companies. The Firm’s most common exit type is trade sale (89%). 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 Activity68
    • M&A Buy Activity51
    • M&A Sell Activity17
  • Total Sectors Invested 12
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 23
  • M&A Advisors 8

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 (6.0/yr) # 21 3 12 3 6 6 51
Sell (2.0/yr) # 7 1 1 1 2 5 17
vol $400M $400M
  68

Most Recent M&A

Company Date Value Type
First Due 2021-07-29 - Growth Capital
Garden City, New York · www.firstdue.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
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
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%) - 23 (45%) -
Internet Software and Services 8 (22%) - 9 (18%) -
Healthcare Services 5 (14%) - 6 (12%) -
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 - 51 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 34 (94%) - 49 (96%) -
  Texas 7 (19%) - 11 (22%) -
  California 5 (14%) - 6 (12%) -
  Georgia 3 (8%) - 4 (8%) -
  Virginia 3 (8%) - 3 (6%) -
  Florida 2 (6%) - 3 (6%) -
  Maryland 1 (3%) - 3 (6%) -
  District of Columbia 2 (6%) - 2 (4%) -
  Arizona 2 (6%) - 2 (4%) -
  New York 2 (6%) - 2 (4%) -
  Colorado - - 2 (4%) -
  Wisconsin 1 (3%) - 1 (2%) -
  Utah 1 (3%) - 1 (2%) -
  Ohio 1 (3%) - 1 (2%) -
  Nebraska 1 (3%) - 1 (2%) -
  Mississippi 1 (3%) - 1 (2%) -
  Minnesota 1 (3%) - 1 (2%) -
  Illinois 1 (3%) - 1 (2%) -
  Rhode Island - - 1 (2%) -
  Oklahoma - - 1 (2%) -
  Michigan - - 1 (2%) -
  Idaho - - 1 (2%) -
Canada 2 (6%) - 2 (4%) -
  Ontario 2 (6%) - 2 (4%) -
Domestic 34 (94%) - 49 (96%) -
Cross-border 2 (6%) - 2 (4%) -
Total 36 - 51 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 31 (86%) - 43 (84%) -
Buyout (LBO, MBO, MBI) 1 (3%) - 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 36 - 51 -

Exits by Deal Type

Type Total # Value
Trade Sale 10 (59%) -
Trade Sale - Public Company 5 (29%) 400M (100%)
Secondary Sale 2 (12%) -
Total 17 $400M

Top M&A Advisors

Financial Deals
MHT Partners LP
 1
Robert W. Baird & Co., Inc.
 1
mAccounting
 1
Legal Deals
Polsinelli PC
 2
Choate Hall & Stewart LLP
 2
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)
2%
1 (2%)
Strategic(s)
4%
2 (4%)
Exited to
Investor(s)
12%
2 (12%)
Strategic(s)
88%
15 (88%)

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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