Summit Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Summit Partners has acquired 7 companies. It has also invested in 21 others.

Summit Partners’ most common sectors for investment aresoftware (19%) and internet software and services (12%) . 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 39 companies. The Firm’s most common exit type is trade sale (46%). 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 Activity617
    • M&A Buy Activity345
    • M&A Sell Activity272
  • Total Sectors Invested 43
  • Total Countries Invested 22
  • M&A Buy/Sell Connections 189
  • 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 investment and asset management firm focused on venture, growth, credit, and public equity investing. 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 and is headquartered in Boston, Massachusetts.


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, Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia, Asia/Pacific, Australia/New Zealand, Latin/South America

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 ≤ '17 '18 '19 '20 '21 '22 T
Buy (8.0/yr) # 305 12 7 11 6 4 345
vol $1.5B $2.2B $3.6B
Sell (10.4/yr) # 220 13 8 7 21 3 272
vol $20.8B $1.9B $475M $13.0B $2.6B $38.7B
  617

Most Recent M&A

Company Date Value Type
LumaBridge LLC 2022-08-23 - Growth Capital
San Antonio, Texas · www.lumabridge.com
PriceLabs 2022-07-28 - Growth Capital
Chicago, Illinois · www.pricelabs.co
Salient Partners LP 2022-05-26 - Add-on Acquisition
Houston, Texas · www.salientpartners.com
Workaround GmbH 2022-05-04 - Secondary Buyout
Munich, Germany · www.proglove.com
18 Week Support 2022-03-30 - Buyout (LBO, MBO, MBI)
London, United Kingdom · www.18weeksupport.com
Ascentis Corp. 2022-03-09 - Add-on Acquisition
Eden Prairie, Minnesota · www.ascentis.com
Highwire 2022-01-24 - Growth Capital
Burlington, Massachusetts · www.highwire.com
Champion Windows LLC 2021-12-30 - Add-on Acquisition
Cincinnati, Ohio · www.championwindow.com
ViroClinics Biosciences B.V. 2021-12-16 - Add-on Acquisition
Rotterdam, Netherlands · www.viroclinics.com
Mavrck LLC 2021-12-16 - Growth Capital
Boston, Massachusetts · www.mavrck.co
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
48forty Solutions LLC 2020-12-01 CALco Pallet Co. 2022-08-25 15
Houston, Texas · www.48forty.com Richmond, Illinois · www.usacalco.com
48forty Solutions LLC 2020-12-01 Girard Wood Products - Pallet Recycling Division 2022-06-06 14
Houston, Texas · www.48forty.com Puyallup, Washington
48forty Solutions LLC 2020-12-01 BridgeStreet Worldwide - European and Asian Agency Business 2020-12-08 13
Houston, Texas · www.48forty.com , United Kingdom
Syndigo LLC 2018-10-25 Kwikee Products Co. LLC 2020-04-27 9
Lisle, Illinois · www.syndigo.com Peoria, Illinois · www.kwikee.com
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 (19%) - 63 (18%) -
Internet Software and Services 16 (26%) - 38 (11%) -
Healthcare Services 4 (6%) 2.2B (100%) 37 (11%) 3.2B (87%)
Information Technology 10 (16%) - 31 (9%) -
Business Services 1 (2%) - 22 (6%) -
Communications - - 16 (5%) 57M (2%)
Technology Hardware 1 (2%) - 16 (5%) -
Financial Services 2 (3%) - 12 (3%) -
Medical Products - - 10 (3%) -
Consumer Products 2 (3%) - 9 (3%) -
Life Science 1 (2%) - 9 (3%) -
Insurance - - 7 (2%) -
Semiconductors - - 7 (2%) -
E-Commerce 2 (3%) - 5 (1%) -
Education 1 (2%) - 5 (1%) -
Electronics - - 5 (1%) -
Distribution - - 4 (1%) -
Electrical Equipment 1 (2%) - 4 (1%) -
Retail 1 (2%) - 3 (1%) 55M (2%)
Apparel/Textiles 2 (3%) - 3 (1%) -
Automotive - - 3 (1%) -
Manufacturing - - 3 (1%) -
Marketing 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%) -
Publishing - - 2 (1%) -
Safety/Security 1 (2%) - 2 (1%) -
Beverages - - 1 (< 1%) -
Building Materials - - 1 (< 1%) -
Engineering - - 1 (< 1%) -
Franchising - - 1 (< 1%) -
Furniture - - 1 (< 1%) -
Information Services - - 1 (< 1%) -
Leisure - - 1 (< 1%) -
Packaging 1 (2%) - 1 (< 1%) -
Restaurants 1 (2%) - 1 (< 1%) -
Staffing - - 1 (< 1%) -
Transportation - - 1 (< 1%) -
Total 62 $2.2B 345 $3.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 46 (74%) 2.2B (100%) 294 (85%) 3.3B (90%)
  California 9 (15%) - 71 (21%) 55M (2%)
  Massachusetts 7 (11%) - 37 (11%) -
  Texas 8 (13%) - 26 (8%) -
  Florida 3 (5%) - 19 (6%) 907M (25%)
  New York 2 (3%) - 14 (4%) -
  Georgia 2 (3%) - 11 (3%) 155M (4%)
  Illinois 2 (3%) - 10 (3%) -
  New Jersey - - 10 (3%) -
  Minnesota - - 9 (3%) -
  Virginia - - 8 (2%) -
  Colorado 1 (2%) - 6 (2%) -
  Ohio - - 6 (2%) -
  North Carolina 2 (3%) - 5 (1%) -
  Utah 2 (3%) - 5 (1%) -
  Washington 1 (2%) 2.2B (100%) 5 (1%) 2.2B (59%)
  Pennsylvania - - 5 (1%) -
  Missouri 2 (3%) - 4 (1%) -
  Indiana - - 4 (1%) -
  Wisconsin - - 4 (1%) -
  Delaware 1 (2%) - 3 (1%) -
  Nevada - - 3 (1%) -
  Maryland - - 3 (1%) -
  Idaho - - 3 (1%) -
  Arizona - - 3 (1%) -
  Tennessee - - 3 (1%) -
  Montana 1 (2%) - 2 (1%) -
  Iowa 1 (2%) - 2 (1%) -
  Connecticut 1 (2%) - 2 (1%) -
  Michigan - - 2 (1%) -
  South Carolina - - 2 (1%) -
  Oklahoma 1 (2%) - 1 (< 1%) -
  Oregon - - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) -
  Louisiana - - 1 (< 1%) -
  Kansas - - 1 (< 1%) -
  South Dakota - - 1 (< 1%) -
  Rhode Island - - 1 (< 1%) -
Germany 4 (6%) - 11 (3%) 350M (10%)
United Kingdom 2 (3%) - 8 (2%) -
Canada 1 (2%) - 4 (1%) -
  Ontario - - 2 (1%) -
  British Columbia 1 (2%) - 1 (< 1%) -
  Quebec - - 1 (< 1%) -
Netherlands - - 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%) -
Italy - - 1 (< 1%) -
Australia - - 1 (< 1%) -
Brazil - - 1 (< 1%) -
Bulgaria - - 1 (< 1%) -
Czech Republic - - 1 (< 1%) -
Israel - - 1 (< 1%) -
Luxembourg - - 1 (< 1%) -
Switzerland - - 1 (< 1%) -
Vietnam - - 1 (< 1%) -
Domestic 46 (74%) 2.2B (100%) 294 (85%) 3.3B (90%)
Cross-border 16 (26%) - 51 (15%) 350M (10%)
Total 62 $2.2B 345 $3.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 34 (55%) - 200 (58%) -
Buyout (LBO, MBO, MBI) 6 (10%) - 70 (20%) 112M (3%)
Venture 8 (13%) - 25 (7%) -
Secondary Buyout 9 (15%) - 23 (7%) 350M (10%)
Recapitalization 3 (5%) - 13 (4%) 155M (4%)
Stake Purchase - - 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 62 $2.2B 345 $3.6B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 92 (34%) 16.9B (46%)
IPO 71 (26%) -
Secondary Sale 52 (19%) 1.9B (5%)
Trade Sale 36 (13%) 13.4B (36%)
Merger 5 (2%) 4.4B (12%)
Bankruptcy 4 (1%) -
Sold to Management 4 (1%) -
Recapitalization 3 (1%) -
Stake Sale 2 (1%) -
Divestiture 1 (< 1%) -
SPAC 1 (< 1%) -
Unknown 1 (< 1%) -
Total 272 $36.7B

Top M&A Advisors

Financial Deals
Jefferies LLC
2
Deutsche Bank Corporate & Investment Banking
2
Piper Sandler & Co.
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%
29 (8%)
Strategic(s)
1%
2 (1%)
Exited to
Investor(s)
21%
56 (21%)
Strategic(s)
48%
130 (48%)

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