Susquehanna Growth Equity Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Susquehanna Growth Equity has acquired 3 companies. It has also invested in 14 others.

Susquehanna Growth Equity’s most common sectors for investment are internet software and services (44%) and software (24%). The Firm’s most common investment types include growth capital (60%) and venture (24%). In total, Susquehanna Growth Equity has invested in 16 US states and 5 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 9 companies. The Firm’s most common exit type is trade sale (55%). Susquehanna Growth Equity’s largest (disclosed) exit occurred in 2020 when it sold Credit Karma for $7.1B.

Join Mergr to view Susquehanna Growth Equity’s full profile and discover more middle-market private equity firms just like it.

M&A Summary

  • M&A Total Activity72
    • M&A Buy Activity50
    • M&A Sell Activity22
  • Total Sectors Invested 10
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 23
  • M&A Advisors 1

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, Scandinavia, 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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (3.8/yr) # 31 2 5 6 5 1 50
vol $280M $280M
Sell (2.6/yr) # 9 4 2 3 1 3 22
vol $580M $107M $7.1B $7.8B
  72

Most Recent M&A

Company Date Value Type
BuildOut, Inc. 2020-07-21 - Secondary Buyout
Chicago, Illinois · www.buildout.com
Clutch Co. LLC 2020-03-09 - Growth Capital
Washington, District of Columbia · www.clutch.co
Credit Karma, Inc. 2020-02-24 7.1B USD Add-on Acquisition
San Francisco, California · www.creditkarma.com
XebiaLabs, Inc. 2020-01-21 - Add-on Acquisition
Burlington, Massachusetts · www.xebialabs.com
Outbrain, Inc. 2019-10-03 - Merger
New York, New York · www.outbrain.com
Duda, Inc. 2019-09-25 - Venture
Palo Alto, California · www.duda.co
McNally Industries, Inc. 2019-09-09 - Secondary Buyout
Grantsburg, Wisconsin · www.mcnally-industries.com
Real Capital Analytics, Inc. 2019-06-03 - Growth Capital
New York, New York · www.rcanalytics.com
Workfront, Inc. 2019-03-13 280M USD Secondary Buyout
Lehi, Utah · www.workfront.com
E-Search DAC 2019-01-09 - Growth Capital
Cork, Ireland · www.poppulo.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
RLDatix 2013-07-01 oneSOURCE Document Site 2020-09-14 5
Toronto, Ontario · www.rldatix.com Salt Lake City, Utah · www.onesourcedocs.com
RLDatix 2013-07-01 Transparent Health Consulting 2020-03-24 4
Toronto, Ontario · www.rldatix.com , United States · www.transparenthealthconsulting.com
Workfront, Inc. 2019-03-13 Atiim, Inc. 2019-10-15 1
Lehi, Utah · www.workfront.com Boston, Massachusetts · www.atiim.com
HMP Global 2007-08-20 Provascular GmbH 2019-10-09 6
Malvern, Pennsylvania · www.hmpglobal.com Heroldsbach, Germany · www.provascular.de
RLDatix 2013-07-01 Quantros Safety Suite 2019-10-07 3
Toronto, Ontario · www.rldatix.com Greenville, South Carolina
HMP Global 2007-08-20 The Evolution of Psychotherapy Conference 2019-10-01 5
Malvern, Pennsylvania · www.hmpglobal.com Phoenix, Arizona · www.evolutionofpsychotherapy.com
RLDatix 2013-07-01 iContracts, Inc. 2019-05-13 2
Toronto, Ontario · www.rldatix.com Bridgewater, New Jersey · www.icontracts.com
RLDatix 2013-07-01 RL Solutions 2018-07-11 1
Toronto, Ontario · www.rldatix.com Toronto, Ontario · www.rlsolutions.com
HMP Global 2007-08-20 Imedex LLC 2017-08-29 4
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 3
Malvern, Pennsylvania · www.hmpglobal.com Fort Atkinson, Wisconsin · www.emsworldexpo.com

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 13 (48%) 280M (100%) 22 (44%) 280M (100%)
Software 6 (22%) - 12 (24%) -
Information Technology 4 (15%) - 9 (18%) -
Aerospace 1 (4%) - 1 (2%) -
Business Services 1 (4%) - 1 (2%) -
Financial Services - - 1 (2%) -
Information Services 1 (4%) - 1 (2%) -
Marketing - - 1 (2%) -
Publishing 1 (4%) - 1 (2%) -
Transportation - - 1 (2%) -
Total 27 $280M 50 $280M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 19 (70%) 280M (100%) 39 (78%) 280M (100%)
  New York 4 (15%) - 9 (18%) -
  California 4 (15%) - 7 (14%) -
  Illinois 3 (11%) - 5 (10%) -
  Texas 2 (7%) - 3 (6%) -
  Pennsylvania 1 (4%) - 2 (4%) -
  New Jersey - - 2 (4%) -
  Massachusetts - - 2 (4%) -
  Utah 1 (4%) 280M (100%) 1 (2%) 280M (100%)
  Wisconsin 1 (4%) - 1 (2%) -
  South Carolina 1 (4%) - 1 (2%) -
  Minnesota 1 (4%) - 1 (2%) -
  District of Columbia 1 (4%) - 1 (2%) -
  Ohio - - 1 (2%) -
  Georgia - - 1 (2%) -
  Colorado - - 1 (2%) -
  Arizona - - 1 (2%) -
Israel 3 (11%) - 4 (8%) -
United Kingdom 1 (4%) - 3 (6%) -
Canada 2 (7%) - 2 (4%) -
  Ontario 1 (4%) - 1 (2%) -
  British Columbia 1 (4%) - 1 (2%) -
Ireland 2 (7%) - 2 (4%) -
Domestic 19 (70%) 280M (100%) 39 (78%) 280M (100%)
Cross-border 8 (30%) - 11 (22%) -
Total 27 $280M 50 $280M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 15 (56%) - 30 (60%) -
Venture 8 (30%) - 12 (24%) -
Secondary Buyout 4 (15%) 280M (100%) 5 (10%) 280M (100%)
Buyout (LBO, MBO, MBI) - - 2 (4%) -
Divestiture - - 1 (2%) -
Total 27 $280M 50 $280M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 9 (41%) 7.7B (99%)
Secondary Sale 7 (32%) 115M (1%)
Trade Sale 4 (18%) -
Merger 1 (5%) -
Unknown 1 (5%) -
Total 22 $7.8B

Top M&A Advisors

Legal Deals
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 1 $7.1B
$100M to $1B 3 $687M
TOTAL $7.8B
Largest Credit Karma, Inc.
$7.1B (2020-02-24)

M&A Connections

Deals %
Acquired from
PE Firm(s)
86%
6 86%
Strategic(s)
14%
1 14%
Exited to
PE Firm(s)
43%
10 43%
Strategic(s)
57%
13 57%

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