Spring Mountain Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Spring Mountain Capital has invested in 6 companies.

Spring Mountain Capital’s most common sectors for investment are healthcare services (18%) and information technology (12%). The Firm’s most common investment types include venture (59%) and growth capital (24%). In total, Spring Mountain Capital has invested in 13 US states.

In the last 3 years, Spring Mountain Capital has exited 3 companies. The Firm’s most common exit type is trade sale (89%). Spring Mountain Capital’s largest (disclosed) exit occurred in 2013 when it sold WhipTail Technologies for $415M.

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M&A Summary

  • M&A Total Activity26
    • M&A Buy Activity17
    • M&A Sell Activity9
  • Total Sectors Invested 12
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 16

Spring Mountain Capital

650 Madison Avenue, 20th Floor,
New York, New York 10022
United States
(212) 292-8300
www.smcgrowthcapital.com

Spring Mountain Capital is a growth capital firm focused on providing expansion capital to tech-enabled companies across North America. The Firm looks to invest in earlier stage companies ($2 to $10 million of revenue) with high growth rates, proven products/services, and a path to profitability. Spring Mountain generally looks to commit $5 to $15 million per transaction. Spring Mountain Capital was formed in 2001 and is based in New York City.


Investment Criteria

Sectors of Interest: Automotive, Business Services, Chemicals, Consumer Products, Consumer Services, Digital Media, Diversified, Electrical Equipment, Electronics, Financial Services, Healthcare Services, Information Technology, Internet Software and Services, Life Science, Manufacturing, Media, Medical Products, Metals/Mining, Software, Test/Measurement Equipment

Target Transaction Types: Growth Capital, Recapitalization, Secondary Buyout

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

Transaction Criteria Min Max
Target Revenue 2 -
Target EBITDA - -
Investment Size 5 15
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.2/yr) # 11 - - 5 1 - 17
Sell (0.8/yr) # 5 1 2 - 1 - 9
vol $733M $733M
  26

Most Recent M&A

Company Date Value Type
Keen Decision Systems 2019-04-09 - Venture
Durham, North Carolina · www.keends.com
Activate Healthcare LLC 2019-01-16 - Add-on Acquisition
Indianapolis, Indiana · www.activatehealthcare.com
RiskSense, Inc. 2018-08-07 - Venture
Albuquerque, New Mexico · www.risksense.com
Vergent Bioscience 2018-06-12 - Venture
Minneapolis, Minnesota · www.vergentbio.com
ReNetX Bio, Inc. 2018-05-07 - Venture
New Haven, Connecticut · www.renetx.com
Home Captain, Inc. 2018-03-20 - Venture
New York, New York · www.homecaptain.com
180 Health Partners 2018-03-15 - Venture
Franklin, Tennessee · www.180healthpartners.com
BHS Specialty Chemicals LLC 2017-07-17 - Add-on Acquisition
Salt Lake City, Utah · www.bhsmarketing.com
MedAvante, Inc. 2017-05-09 - Add-on Acquisition
Hamilton, New Jersey · ww.medavante.com
Prevalent, Inc. 2016-11-17 - Secondary Buyout
Phoenix, Arizona · www.prevalent.net
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 2 (18%) - 3 (18%) -
Information Technology - - 2 (12%) -
Internet Software and Services 2 (18%) - 2 (12%) -
Life Science 2 (18%) - 2 (12%) -
Automotive 1 (9%) - 1 (6%) -
Chemicals - - 1 (6%) -
Digital Media 1 (9%) - 1 (6%) -
Electrical Equipment 1 (9%) - 1 (6%) -
Electronics - - 1 (6%) -
Media 1 (9%) - 1 (6%) -
Software 1 (9%) - 1 (6%) -
Technology Hardware - - 1 (6%) -
Total 11 - 17 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (100%) - 17 (100%) -
  Tennessee 2 (18%) - 2 (12%) -
  New York 2 (18%) - 2 (12%) -
  California 2 (18%) - 2 (12%) -
  New Jersey - - 2 (12%) -
  North Carolina 1 (9%) - 1 (6%) -
  New Mexico 1 (9%) - 1 (6%) -
  Minnesota 1 (9%) - 1 (6%) -
  Iowa 1 (9%) - 1 (6%) -
  Connecticut 1 (9%) - 1 (6%) -
  Utah - - 1 (6%) -
  Indiana - - 1 (6%) -
  Colorado - - 1 (6%) -
  Arizona - - 1 (6%) -
Total 11 - 17 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 9 (82%) - 10 (59%) -
Growth Capital - - 4 (24%) -
Buyout (LBO, MBO, MBI) 1 (9%) - 1 (6%) -
Recapitalization - - 1 (6%) -
Stake Purchase 1 (9%) - 1 (6%) -
Total 11 - 17 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 4 (44%) 733M (100%)
Trade Sale 4 (44%) -
Secondary Sale 1 (11%) -
Total 9 $733M

Deal Values

sell # Total
$100M to $1B 2 $733M
TOTAL $733M
Largest WhipTail Technologies, Inc.
$415M (2013-10-29)

M&A Connections

Deals %
Exited to
PE Firm(s)
11%
1 11%
Strategic(s)
89%
8 89%

Investor Summary

Size

Small

Established

2001

Specialist/Generalist

Generalist

Leadership

John Steffens

Founder & Senior Managing Director

Raymond Wong

Managing Director & Head of Growth Equity

Gregory Ho

President

John Gu

Principal

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