Sunstone Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Sunstone Partners has acquired 1 company. It has also invested in 4 others.

Sunstone Partners’ most common sectors for investment areinformation technology (43%) and business services (29%) . The Firm’s most common investment types include growth capital (79%) and venture (8%). In total, Sunstone Partners has invested in 7 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2022 when it acquired User Testing for $1.3B.

In the last 3 years, Sunstone Partners has exited 2 companies. The Firm’s most common exit type is trade sale (67%).

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M&A Summary

  • M&A Total Activity17
    • M&A Buy Activity14
    • M&A Sell Activity3
  • Total Sectors Invested 4
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 4
  • M&A Advisors 2

Sunstone Partners

400 S El Camino Real, Suite 300,
San Mateo, California 94402
United States
(650) 289-4400
www.sunstonepartners.com
info@sunstonepartners.com

Sunstone Partners is a private investment firm focused on growth equity investments in and majority buyouts of tech companies. The Firm targets opportunities throughout North American and seeks businesses with at least $10 million in revenues and at least 20% of yearly growth. Sunstone Partners was formed in 2015 from a team that previously worked together at Trident Capital. The Firm is based in San Mateo, California.


Investment Criteria

Sectors of Interest: Business Services, Information Technology, Internet Software and Services, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Going Private, Growth Capital, Venture

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

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

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.6/yr) # 6 3 2 2 1 - 14
vol $1.3B $1.3B
Sell (0.4/yr) # 1 - - 1 1 - 3
  17

Most Recent M&A

Company Date Value Type
Thirdera LLC 2023-12-13 - Trade Sale
Leesburg, Virginia · www.thirdera.com
EverService Holdings LLC 2023-09-14 - Growth Capital
Phoenix, Arizona · www.everservice.com
User Testing, Inc. 2022-10-27 1.3B USD Going Private
San Francisco, California · www.usertesting.com
NetSPI LLC 2022-10-05 - Secondary Sale
Minneapolis, Minnesota · www.netspi.com
OSF Global Services, Inc. 2022-04-13 - Venture
Quebec City, Quebec · www.osf.digital
Vcheck Global LLC 2021-11-30 - Growth Capital
Los Angeles, California · www.vcheckglobal.com
Stova 2021-06-17 - Growth Capital
Frederick, Maryland · www.stova.io
66degrees, Inc. 2020-10-20 - Growth Capital
Chicago, Illinois · www.66degrees.com
RSource LLC 2020-09-09 - Growth Capital
Boca Raton, Florida · www.knowtionhealth.com
Medical Technology Solutions LLC 2020-05-27 - Growth Capital
Valencia, California · www.medtechsolutions.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 5 (42%) - 6 (43%) -
Business Services 4 (33%) - 4 (29%) -
Internet Software and Services 2 (17%) 1.3B (100%) 3 (21%) 1.3B (100%)
Healthcare Services 1 (8%) - 1 (7%) -
Total 12 $1.3B 14 $1.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (92%) 1.3B (100%) 13 (93%) 1.3B (100%)
  California 4 (33%) 1.3B (100%) 5 (36%) 1.3B (100%)
  Arizona 3 (25%) - 3 (21%) -
  Illinois 1 (8%) - 1 (7%) -
  Florida 1 (8%) - 1 (7%) -
  Pennsylvania 1 (8%) - 1 (7%) -
  Maryland 1 (8%) - 1 (7%) -
  Minnesota - - 1 (7%) -
Canada 1 (8%) - 1 (7%) -
  Quebec 1 (8%) - 1 (7%) -
Total 12 $1.3B 14 $1.3B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 9 (75%) - 11 (79%) -
Going Private 1 (8%) 1.3B (100%) 1 (7%) 1.3B (100%)
Consolidation 1 (8%) - 1 (7%) -
Venture 1 (8%) - 1 (7%) -
Total 12 $1.3B 14 $1.3B

Exits by Deal Type

Type Total # Value
Secondary Sale 1 (33%) -
Trade Sale 1 (33%) -
Trade Sale - Public Company 1 (33%) -
Total 3 -

Top M&A Advisors

Legal Deals
Choate Hall & Stewart LLP
2
Goodwin Procter
1

Deal Values

buy # Total
> $1B 1 $1.3B
TOTAL $1.3B
Largest User Testing, Inc.
$1.3B (2022-10-27)

M&A Connections

Deals
Exited to
Investor(s)
33%
1 (33%)
Strategic(s)
67%
2 (67%)

FAQ

When was Sunstone Partners founded?

Sunstone Partners was founded in 2015.

What type of investor is Sunstone Partners?

Sunstone Partners is a growth capital firm.

Where is Sunstone Partners headquartered?

Sunstone Partners is headquartered in San Mateo, California.

How much capital does Sunstone Partners have under management?

Sunstone Partners has 800M USD under management.

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