Summit Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Summit Partners has acquired 12 companies. It has also invested in 19 others.

Summit Partners’ most common sectors for investment aresoftware (19%) and internet software and services (11%) . The Firm’s most common investment types include growth capital (58%) and buyout (lbo, mbo, mbi) (21%). In total, Summit Partners has invested in 37 US states and 22 different countries. Its largest (disclosed) acquisition occurred in 2018 when it acquired Sound Inpatient Physicians for $2.2B.

In the last 3 years, Summit Partners has exited 44 companies. The Firm’s most common exit type is trade sale (45%). Summit Partners’ largest (disclosed) exit occurred in 2020 when it sold Infor Global Solutions for $13.0B.

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M&A Summary

  • M&A Total Activity601
    • M&A Buy Activity337
    • M&A Sell Activity264
  • Total Sectors Invested 42
  • Total Countries Invested 22
  • M&A Buy/Sell Connections 183
  • M&A Advisors 24

Summit Partners

222 Berkeley St, 18th Floor,
Boston, Massachusetts 02116
United States
(617) 824-1000
www.summitpartners.com

Summit Partners is a private equity and venture capital firm with offices in Boston, Palo Alto, and London. Summit looks for businesses operating in growth industries. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Communications, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Electronics, Energy Services and Equipment, Engineering, Environmental, Financial Services, Franchising, Furniture, Gaming, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Life Science, Machinery, Manufacturing, Marine, Marketing, Medical Products, Publishing, Restaurants, Retail, Safety/Security, Semiconductors, Software, Staffing, Technology Hardware, Test/Measurement Equipment, Transportation, Utilities

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

Geographic Preferences: East US, Midwest US, South US, West US, Canada, Western Europe, Eastern Europe, Scandinavia, United Kingdom

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 10 500
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (8.4/yr) # 295 11 12 7 10 2 337
vol $1.5B $2.2B $3.6B
Sell (11.8/yr) # 206 15 13 8 7 16 265
vol $18.6B $2.2B $1.9B $475M $13.0B $2.6B $38.7B
  602

Most Recent M&A

Company Date Value Type
Fuze 2021-12-01 250M USD Add-on Acquisition
Boston, Massachusetts · www.fuze.com
InnovaCare Health Solutions LLC 2021-11-19 - Secondary Buyout
Orlando, Florida · www.innovacarehealth.com
Harvey Performance Co. LLC 2021-11-03 - Secondary Buyout
Rowley, Massachusetts · www.harveyperformance.com
Patriot Growth Partners LLC 2021-09-21 - Recapitalization
Ft. Washington, Pennsylvania · www.patriotgis.com
Clarabridge, Inc. 2021-07-29 1.1B USD Add-on Acquisition
Reston, Virginia · www.clarabridge.com
Teaching Strategies LLC 2021-07-21 - Secondary Buyout
Bethesda, Maryland · www.teachingstrategies.com
LakePharma, Inc. 2021-07-14 - Add-on Acquisition
San Carlos, California · www.lakepharma.com
RiskIQ, Inc. 2021-07-12 - Add-on Acquisition
San Francisco, California · www.riskiq.com
Wowza Media Systems LLC 2021-06-10 - Secondary Buyout
Golden, Colorado · www.wowza.com
Serverless Heroes, Inc. 2021-06-02 - Add-on Acquisition
Twickenham, United Kingdom · www.acloud.guru
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
CareCentrix, Inc. 2011-09-20 Turn-Key Health 2020-05-04 1
Hartford, Connecticut · www.carecentrix.com Philadelphia, Pennsylvania · www.turn-keyhealth.com
Syndigo LLC 2018-10-25 Kwikee Products Co. LLC 2020-04-27 9
Lisle, Illinois · www.syndigo.com Peoria, Illinois · www.kwikee.com
ViroClinics Biosciences B.V. 2020-03-03 DDL Diagnostic Laboratory BV 2020-03-03 1
Rotterdam, Netherlands · www.viroclinics.eu Rijswijk, Netherlands · www.ddl.nl
Syndigo LLC 2018-10-25 Sellpoints, Inc. 2019-08-12 8
Lisle, Illinois · www.syndigo.com Emeryville, California · www.sellpoints.com
Syndigo LLC 2018-10-25 EdgeAQ LLC (Edgenet, Inc.) 2019-01-07 7
Lisle, Illinois · www.syndigo.com Nashville, Tennessee · www.edgenet.com
Ruffalo Noel Levitz LLC 2013-05-30 Noel-Levitz, Inc. 2014-08-21 4
Cedar Rapids, Iowa · www.ruffalonl.com Coralville, Iowa · www.noellevitz.com

M&A by Sector

Sector Current # Value All-time # Value
Software 12 (20%) - 62 (18%) -
Healthcare Services 5 (8%) 2.2B (100%) 36 (11%) 3.2B (87%)
Internet Software and Services 15 (25%) - 36 (11%) -
Information Technology 8 (13%) - 29 (9%) -
Business Services 2 (3%) - 23 (7%) -
Communications - - 16 (5%) 57M (2%)
Technology Hardware 2 (3%) - 16 (5%) -
Financial Services 3 (5%) - 12 (4%) -
Medical Products - - 10 (3%) -
Life Science 1 (2%) - 8 (2%) -
Insurance - - 7 (2%) -
Semiconductors - - 7 (2%) -
Consumer Products 1 (2%) - 6 (2%) -
E-Commerce 2 (3%) - 5 (1%) -
Education 1 (2%) - 5 (1%) -
Electronics - - 5 (1%) -
Retail 1 (2%) - 4 (1%) 55M (2%)
Distribution - - 4 (1%) -
Electrical Equipment 1 (2%) - 4 (1%) -
Manufacturing - - 4 (1%) -
Apparel/Textiles 2 (3%) - 3 (1%) -
Automotive - - 3 (1%) -
Safety/Security 1 (2%) - 3 (1%) -
Test/Measurement Equipment 1 (2%) - 3 (1%) -
Digital Media - - 2 (1%) 350M (10%)
Consumer Services - - 2 (1%) -
Energy Services and Equipment 1 (2%) - 2 (1%) -
Environmental - - 2 (1%) -
Gaming - - 2 (1%) -
Machinery - - 2 (1%) -
Marketing - - 2 (1%) -
Publishing - - 2 (1%) -
Beverages - - 1 (< 1%) -
Building Materials 1 (2%) - 1 (< 1%) -
Engineering - - 1 (< 1%) -
Franchising - - 1 (< 1%) -
Furniture - - 1 (< 1%) -
Information Services - - 1 (< 1%) -
Leisure - - 1 (< 1%) -
Restaurants 1 (2%) - 1 (< 1%) -
Staffing - - 1 (< 1%) -
Transportation - - 1 (< 1%) -
Total 61 $2.2B 337 $3.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 42 (69%) 2.2B (100%) 286 (85%) 3.3B (90%)
  California 8 (13%) - 71 (21%) 55M (2%)
  Massachusetts 5 (8%) - 35 (10%) -
  Texas 6 (10%) - 23 (7%) -
  Florida 2 (3%) - 18 (5%) 907M (25%)
  New York 1 (2%) - 12 (4%) -
  Georgia 2 (3%) - 11 (3%) 155M (4%)
  New Jersey - - 11 (3%) -
  Minnesota 1 (2%) - 9 (3%) -
  Illinois 1 (2%) - 9 (3%) -
  Virginia - - 8 (2%) -
  Washington 2 (3%) 2.2B (100%) 6 (2%) 2.2B (59%)
  Colorado 1 (2%) - 6 (2%) -
  Ohio 1 (2%) - 6 (2%) -
  Utah 2 (3%) - 5 (1%) -
  North Carolina 2 (3%) - 5 (1%) -
  Pennsylvania - - 5 (1%) -
  Missouri 2 (3%) - 4 (1%) -
  Wisconsin - - 4 (1%) -
  Indiana - - 4 (1%) -
  Delaware 1 (2%) - 3 (1%) -
  Tennessee - - 3 (1%) -
  Nevada - - 3 (1%) -
  Maryland - - 3 (1%) -
  Idaho - - 3 (1%) -
  Connecticut 2 (3%) - 2 (1%) -
  Montana 1 (2%) - 2 (1%) -
  Iowa 1 (2%) - 2 (1%) -
  Arizona - - 2 (1%) -
  South Carolina - - 2 (1%) -
  Michigan - - 2 (1%) -
  Oklahoma 1 (2%) - 1 (< 1%) -
  South Dakota - - 1 (< 1%) -
  Rhode Island - - 1 (< 1%) -
  Oregon - - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) -
  Louisiana - - 1 (< 1%) -
  Kansas - - 1 (< 1%) -
Germany 5 (8%) - 11 (3%) 350M (10%)
United Kingdom 1 (2%) - 7 (2%) -
Canada 2 (3%) - 5 (1%) -
  Ontario 1 (2%) - 3 (1%) -
  British Columbia 1 (2%) - 1 (< 1%) -
  Quebec - - 1 (< 1%) -
Netherlands 1 (2%) - 4 (1%) -
Belgium 2 (3%) - 3 (1%) -
France 1 (2%) - 3 (1%) -
Denmark 1 (2%) - 2 (1%) -
Ireland 1 (2%) - 2 (1%) -
Singapore 1 (2%) - 2 (1%) -
Finland 1 (2%) - 1 (< 1%) -
Russia 1 (2%) - 1 (< 1%) -
Sweden 1 (2%) - 1 (< 1%) -
Switzerland 1 (2%) - 1 (< 1%) -
Italy - - 1 (< 1%) -
Australia - - 1 (< 1%) -
Brazil - - 1 (< 1%) -
Bulgaria - - 1 (< 1%) -
Czech Republic - - 1 (< 1%) -
Israel - - 1 (< 1%) -
Luxembourg - - 1 (< 1%) -
Vietnam - - 1 (< 1%) -
Domestic 42 (69%) 2.2B (100%) 286 (85%) 3.3B (90%)
Cross-border 19 (31%) - 51 (15%) 350M (10%)
Total 61 $2.2B 337 $3.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 30 (49%) - 194 (58%) -
Buyout (LBO, MBO, MBI) 6 (10%) - 70 (21%) 112M (3%)
Venture 8 (13%) - 25 (7%) -
Secondary Buyout 10 (16%) - 22 (7%) 350M (10%)
Recapitalization 4 (7%) - 12 (4%) 155M (4%)
Stake Purchase 1 (2%) - 7 (2%) -
Divestiture 1 (2%) 2.2B (100%) 2 (1%) 2.2B (59%)
Going Private - - 2 (1%) 850M (24%)
PIPE 1 (2%) - 2 (1%) -
Joint Venture - - 1 (< 1%) -
Total 61 $2.2B 337 $3.6B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 90 (34%) 16.9B (46%)
IPO 70 (26%) -
Secondary Sale 53 (20%) 1.9B (5%)
Trade Sale 31 (12%) 13.4B (36%)
Merger 5 (2%) 4.4B (12%)
Bankruptcy 4 (2%) -
Sold to Management 4 (2%) -
Recapitalization 3 (1%) -
Stake Sale 2 (1%) -
Divestiture 1 (< 1%) -
SPAC 1 (< 1%) -
Unknown 1 (< 1%) -
Total 265 $36.7B

Top M&A Advisors

Financial Deals
Jefferies LLC
2
Deutsche Bank Corporate & Investment Banking
2
Robert W. Baird & Co., Inc.
1
Legal Deals
Kirkland & Ellis LLP
12
Weil Gotshal & Manges LLP
7
Ropes & Gray LLP
3

Deal Values

buy # Total
> $1B 1 $2.2B
$100M to $1B 3 $1.4B
< $100M 2 $112M
TOTAL $3.6B
Largest Sound Inpatient Physicians, Inc.
$2.2B (2018-04-23)
sell # Total
> $1B 9 $28.7B
$100M to $1B 35 $9.9B
< $100M 4 $163M
TOTAL $38.7B
Largest Infor Global Solutions, Inc.
$13.0B (2020-02-04)

M&A Connections

Deals
Acquired from
Investor(s)
8%
28 (8%)
Strategic(s)
1%
2 (1%)
Exited to
Investor(s)
21%
56 (21%)
Strategic(s)
47%
125 (47%)

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