Susquehanna Growth Equity Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Susquehanna Growth Equity has invested in 15 companies.

Susquehanna Growth Equity’s most common sectors for investment areinternet software and services (44%) and software (22%) . The Firm’s most common investment types include growth capital (60%) and venture (28%). In total, Susquehanna Growth Equity has invested in 21 US states and 7 different countries. Its largest (disclosed) acquisition occurred in 2019 when it acquired Workfront for $280M.

In the last 3 years, Susquehanna Growth Equity has exited 7 companies. The Firm’s most common exit type is trade sale (64%). Susquehanna Growth Equity’s largest (disclosed) exit occurred in 2020 when it sold Credit Karma for $7.1B.

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M&A Summary

  • M&A Total Activity98
    • M&A Buy Activity69
    • M&A Sell Activity29
  • Total Sectors Invested 12
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 38
  • M&A Advisors 2

Susquehanna Growth Equity

401 City Avenue,
Bala Cynwyd, Pennsylvania 19004
United States
(610) 617-2600
www.sgep.com
info@sgep.com

Susquehanna Growth Equity (SGE) is the private equity arm of The Susquehanna International Group of Companies. SGE focuses on companies that help streamline payments and related transactions. This includes SaaS, payments and transaction processing, capital markets technology, and internet/information services. SGE looks to commit $5 to $50 million in companies with at least $5 million of revenue. The Firm will consider both control and minority positions and targets opportunities across North America, Europe, and Israel. SGE was established in 2006 and is headquartered in Philadelphia, Pennsylvania.


Investment Criteria

Sectors of Interest: Aerospace, Business Services, Financial Services, Information Services, Information Technology, Internet Software and Services, Publishing, Software

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

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

Transaction Criteria Min Max
Target Revenue 5 100
Target EBITDA - -
Investment Size 5 50
Enterprise Value 10 100
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (3.4/yr) # 52 2 11 4 - - 69
vol $280M $280M
Sell (2.4/yr) # 18 5 6 - 1 - 30
vol $787M $8.6B $950M $10.3B
  99

Most Recent M&A

Company Date Value Type
BoomTown ROI LLC 2023-01-20 - Trade Sale
Charleston, South Carolina · www.boomtownroi.com
ZenQMS LLC 2022-10-04 - Growth Capital
Ardmore, Pennsylvania · www.zenqms.com
Sievo 2022-09-19 - Growth Capital
Helsinki, Finland · www.sievo.com
Muck Rack 2022-09-07 - Venture
Miami, Florida · www.muckrack.com
Sparkplug Studios LLC 2022-03-16 - Growth Capital
Houston, Texas · www.tekmetric.com
Famly 2021-12-14 - Venture
Copenhagen, Denmark · www.famly.co
NetFormx Ltd. 2021-12-12 - Trade Sale
San Jose, California · www.netformx.com
Pixieset Media, Inc. 2021-09-13 - Growth Capital
Vancouver, British Columbia · www.pixieset.com
NoRedInk Corp. 2021-08-24 - Venture
San Francisco, California · www.noredink.com
Real Capital Analytics, Inc. 2021-08-02 950M USD Trade Sale
New York, New York · www.rcanalytics.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
RLDatix Ltd. 2013-07-01 365 Response Ltd. 2022-02-09 12
Chicago, Illinois · www.rldatix.com Wakefield, United Kingdom · www.365response.org
HMP Global 2007-08-20 Senior Care Marketing & Sales Summit 2022-02-03 12
Malvern, Pennsylvania · www.hmpglobal.com Yonkers, New York · www.seniorcaremarketingsummit.com
RLDatix Ltd. 2013-07-01 Allocate Software plc 2021-06-28 11
Chicago, Illinois · www.rldatix.com Richmond, United Kingdom · www.allocatesoftware.com
HMP Global 2007-08-20 C4 Recovery Foundation - Addiction Education Events 2021-01-29 11
Malvern, Pennsylvania · www.hmpglobal.com Algonquin, Illinois
RLDatix Ltd. 2013-07-01 Verge Solutions LLC 2020-10-21 10
Chicago, Illinois · www.rldatix.com Mount Pleasant, South Carolina · www.vergehealth.com
RLDatix Ltd. 2013-07-01 Quantros Safety Suite 2019-10-07 9
Chicago, Illinois · www.rldatix.com Greenville, South Carolina
HMP Global 2007-08-20 The Evolution of Psychotherapy Conference 2019-10-01 10
Malvern, Pennsylvania · www.hmpglobal.com Phoenix, Arizona · www.evolutionofpsychotherapy.com
HMP Global 2007-08-20 Imedex LLC 2017-08-29 9
Malvern, Pennsylvania · www.hmpglobal.com Alpharetta, Georgia · www.imedex.com
HMP Global 2007-08-20 Southcomm Business Media, Inc. (EMS World Expo) 2017-02-17 8
Malvern, Pennsylvania · www.hmpglobal.com Fort Atkinson, Wisconsin · www.emsworldexpo.com
HMP Global 2007-08-20 The Consultant Print Group 2011-04-18 7
Malvern, Pennsylvania · www.hmpglobal.com Miami, Florida · www.theprintersconsultant.com

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 17 (46%) - 30 (43%) 280M (100%)
Software 8 (22%) - 15 (22%) -
Information Technology 6 (16%) - 14 (20%) -
Financial Services - - 2 (3%) -
Business Services 1 (3%) - 1 (1%) -
Education 1 (3%) - 1 (1%) -
Gaming 1 (3%) - 1 (1%) -
Information Services - - 1 (1%) -
Insurance 1 (3%) - 1 (1%) -
Media 1 (3%) - 1 (1%) -
Publishing 1 (3%) - 1 (1%) -
Transportation - - 1 (1%) -
Total 37 - 69 $280M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 26 (70%) - 52 (75%) 280M (100%)
  California 5 (14%) - 9 (13%) -
  New York 1 (3%) - 9 (13%) -
  Illinois 4 (11%) - 6 (9%) -
  Texas 4 (11%) - 5 (7%) -
  Pennsylvania 2 (5%) - 3 (4%) -
  District of Columbia 2 (5%) - 2 (3%) -
  Colorado 1 (3%) - 2 (3%) -
  New Jersey - - 2 (3%) -
  Massachusetts - - 2 (3%) -
  Virginia 1 (3%) - 1 (1%) -
  Tennessee 1 (3%) - 1 (1%) -
  New Hampshire 1 (3%) - 1 (1%) -
  Minnesota 1 (3%) - 1 (1%) -
  Kentucky 1 (3%) - 1 (1%) -
  Indiana 1 (3%) - 1 (1%) -
  Florida 1 (3%) - 1 (1%) -
  Utah - - 1 (1%) 280M (100%)
  South Carolina - - 1 (1%) -
  Ohio - - 1 (1%) -
  Georgia - - 1 (1%) -
  Arizona - - 1 (1%) -
Israel 4 (11%) - 5 (7%) -
United Kingdom 2 (5%) - 5 (7%) -
Canada 2 (5%) - 3 (4%) -
  British Columbia 1 (3%) - 2 (3%) -
  Quebec 1 (3%) - 1 (1%) -
Ireland 1 (3%) - 2 (3%) -
Denmark 1 (3%) - 1 (1%) -
Finland 1 (3%) - 1 (1%) -
Domestic 26 (70%) - 52 (75%) 280M (100%)
Cross-border 11 (30%) - 17 (25%) -
Total 37 - 69 $280M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 21 (57%) - 41 (59%) -
Venture 12 (32%) - 19 (28%) -
Secondary Buyout 2 (5%) - 4 (6%) 280M (100%)
Buyout (LBO, MBO, MBI) - - 2 (3%) -
Stake Purchase 2 (5%) - 2 (3%) -
Divestiture - - 1 (1%) -
Total 37 - 69 $280M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 11 (37%) 10.1B (98%)
Trade Sale 9 (30%) -
Secondary Sale 7 (23%) 215M (2%)
IPO 1 (3%) -
SPAC 1 (3%) -
Unknown 1 (3%) -
Total 30 $10.3B

Top M&A Advisors

Legal Deals
Stikeman Elliott LLP
1
Weil Gotshal & Manges LLP
1

Deal Values

buy # Total
$100M to $1B 1 $280M
TOTAL $280M
Largest Workfront, Inc.
$280M (2019-03-13)
sell # Total
> $1B 2 $8.6B
$100M to $1B 4 $1.6B
< $100M 1 $100M
TOTAL $10.3B
Largest Credit Karma, Inc.
$7.1B (2020-02-24)

M&A Connections

Deals
Acquired from
Investor(s)
6%
4 (6%)
Strategic(s)
1%
1 (1%)
Exited to
Investor(s)
23%
7 (23%)
Strategic(s)
63%
19 (63%)

FAQ

When was Susquehanna Growth Equity founded?

Susquehanna Growth Equity was founded in 2006.

What type of investor is Susquehanna Growth Equity?

Susquehanna Growth Equity is a growth capital firm.

Where is Susquehanna Growth Equity headquartered?

Susquehanna Growth Equity is headquartered in Bala Cynwyd, Pennsylvania.

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