The Blackstone Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, The Blackstone Group has acquired 43 companies. It has also invested in 13 others.

The Blackstone Group’s most common sectors for investment arecommunications (9%) and information technology (7%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (25%) and secondary buyout (21%). In total, The Blackstone Group has invested in 28 US states and 26 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B.

In the last 3 years, The Blackstone Group has exited 31 companies. The Firm’s most common exit type is trade sale (41%). The Blackstone Group’s largest (disclosed) exit occurred in 2019 when it sold Refinitiv for $27.0B.

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M&A Summary

  • M&A Total Activity420
    • M&A Buy Activity285
    • M&A Sell Activity135
  • Total Sectors Invested 54
  • Total Countries Invested 26
  • M&A Buy/Sell Connections 163
  • M&A Advisors 57

The Blackstone Group Inc.

345 Park Avenue,
New York, New York 10154-0191
United States
(212) 583-5000
www.blackstone.com
blackstoneshareholderrelations@blackstone.com

The Blackstone Group LP is a global alternative investment management firm comprised of three business segments. These groups include corporate private equity, real estate, and alternative asset management. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


Investment Criteria

Sectors of Interest: Agriculture, Airlines, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Electrical Equipment, Electronics, Energy Services and Equipment, Environmental, Financial Services, Food, Franchising, Gaming, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Leisure, Life Science, Machinery, Manufacturing, Marine, Marketing, Media, Medical Products, Metals/Mining, Oil/Gas Exploration, Packaging, Publishing, Real Estate, Renewable Energy, Restaurants, Retail, Safety/Security, Semiconductors, Software, Staffing, Technology Hardware, Transportation, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed, PIPE, Secondary Buyout, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 -
Enterprise Value 250 -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (15.0/yr) # 210 19 11 16 12 17 285
vol $301.7B $6.7B $27.6B $19.9B $9.5B $67.2B $432.5B
Sell (7.0/yr) # 102 4 10 8 6 7 137
vol $85.5B $2.0B $10.7B $27.0B $11.7B $137.0B
  422

Most Recent M&A

Company Date Value Type
Dynamo Software, Inc. 2021-09-09 - Secondary Buyout
Watertown, Massachusetts · www.dynamosoftware.com
The Chamberlain Group, Inc. 2021-09-07 5.0B USD Divestiture
Oak Brook, Illinois · www.chamberlaingroup.com
Deca Dental Group LLC 2021-08-26 - Secondary Buyout
Dallas, Texas · www.decadental.com
Vine Energy, Inc. 2021-08-11 2.2B USD Add-on Acquisition
Plano, Texas · www.vineenergy.com
Simplilearn Solutions Pvt. Ltd. 2021-07-19 - Buyout (LBO, MBO, MBI)
Bangalore , India · www.simplilearn.com
Sphera Solutions 2021-07-06 1.4B USD Secondary Buyout
Chicago, Illinois · www.sphera.com
Exeter Finance LLC 2021-06-28 - Secondary Buyout
Austin, Texas · www.exeterfinance.com
Ellucian Co. L.P. 2021-06-14 - Secondary Buyout
Reston, Virginia · www.ellucian.com
QTS Realty Trust, Inc. 2021-06-07 10.0B USD Going Private
Overland Park, Kansas · www.qtsdatacenters.com
Medline Industries, Inc. 2021-06-05 34.0B USD Buyout (LBO, MBO, MBI)
Northfield, Illinois · www.medline.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Tallgrass Energy Partners LP 2019-01-31 Escalante H2 Power 2021-08-09 1
Overland Park, Kansas · www.tallgrassenergylp.com Prewitt, New Mexico · www.eh2power.com
Interior Logic Group, Inc. 2021-02-01 L.A.R.K Industries, Inc. 2021-06-30 1
Irvine, California · www.interiorlogicgroup.com Anaheim, California · www.resdesign.com
Alight Solutions 2020-02-10 Aon Hewitt Health Market Insurance Solutions, Inc. 2021-06-03 2
Lincolnshire, Illinois · www.alight.com Chicago, Illinois · www.retiree.aon.com
Building Materials Europe B.V. 2019-07-16 Compañía Española De Aislamientos SA 2021-04-15 1
Schiphol, Netherlands · www.bme-group.com Barcelona, Spain · www.isolana.es
Diligent Corp. 2016-02-14 STEELE Compliance Solutions, Inc. 2021-02-25 6
New York, New York · www.diligent.com San Francisco, California · www.steeleglobal.com
HealthEdge Software, Inc. 2020-03-09 Altruista Health, Inc. 2020-12-29 2
Burlington, Massachusetts · www.healthedge.com Reston, Virginia · www.altruistahealth.com
Kronos, Inc. 2014-02-21 The Ultimate Software Group, Inc. 2020-02-20 9
Chelmsford, Massachusetts · www.kronos.com Weston, Florida · www.ultimatesoftware.com
International Market Centers LP 2017-07-06 Pharos 2020-01-15 3
Las Vegas, Nevada · www.imcenters.com Chantilly, Virginia · www.pharossuite.com
Kronos, Inc. 2014-02-21 Cadient LLC 2019-06-17 2
Chelmsford, Massachusetts · www.kronos.com Morrisville, North Carolina · www.cadienttalent.com
Clarion Events Ltd. 2017-07-24 Design Shanghai 2019-06-14 3
London, United Kingdom · www.clarionevents.com Shanghai, China · www.designshanghai.com

M&A by Sector

Sector Current # Value All-time # Value
Communications 2 (2%) - 24 (8%) 28.4B (7%)
Information Technology 10 (8%) 17.0B (13%) 20 (7%) 25.1B (6%)
Media 4 (3%) 385M (< 1%) 16 (6%) 15.0B (3%)
Leisure 4 (3%) 7.9B (6%) 15 (5%) 43.3B (10%)
Business Services 9 (8%) - 15 (5%) 1.4B (< 1%)
Internet Software and Services 8 (7%) 3.8B (3%) 13 (5%) 15.1B (3%)
Financial Services 7 (6%) 4.4B (3%) 13 (5%) 12.2B (3%)
Energy Services and Equipment 8 (7%) 5.3B (4%) 13 (5%) 8.2B (2%)
Chemicals 3 (3%) 1.9B (1%) 9 (3%) 14.8B (3%)
Insurance 4 (3%) 4.4B (3%) 9 (3%) 7.0B (2%)
Oil/Gas Exploration 3 (3%) - 8 (3%) 1.7B (< 1%)
Real Estate 4 (3%) 16.4B (13%) 7 (2%) 16.5B (4%)
Life Science 3 (3%) - 7 (2%) 5.5B (1%)
Transportation 4 (3%) - 7 (2%) 1.1B (< 1%)
Medical Products 3 (3%) 34.0B (27%) 6 (2%) 47.6B (11%)
Software 1 (1%) - 6 (2%) 12.2B (3%)
Healthcare Services 2 (2%) - 6 (2%) 4.0B (1%)
Apparel/Textiles 2 (2%) - 5 (2%) 1.5B (< 1%)
Consumer Products 2 (2%) - 5 (2%) 200M (< 1%)
Information Services 2 (2%) 6.0B (5%) 4 (1%) 38.7B (9%)
Staffing 2 (2%) 6.1B (5%) 4 (1%) 7.3B (2%)
Food 1 (1%) 177M (< 1%) 4 (1%) 5.8B (1%)
Automotive 1 (1%) - 4 (1%) 5.6B (1%)
Packaging 1 (1%) - 4 (1%) 4.3B (1%)
Environmental 2 (2%) - 4 (1%) 590M (< 1%)
Utilities 1 (1%) 3.1B (2%) 3 (1%) 10.5B (2%)
Restaurants 1 (1%) 127M (< 1%) 3 (1%) 7.3B (2%)
Retail - - 3 (1%) 6.4B (1%)
Manufacturing 1 (1%) - 3 (1%) 5.4B (1%)
Distribution 2 (2%) 1.8B (1%) 3 (1%) 3.2B (1%)
Safety/Security 1 (1%) - 3 (1%) 2.8B (1%)
Metals/Mining - - 3 (1%) 1.8B (< 1%)
Electrical Equipment 1 (1%) - 3 (1%) 1.2B (< 1%)
Building Materials 1 (1%) - 3 (1%) 780M (< 1%)
Education 2 (2%) - 3 (1%) -
Gaming 1 (1%) - 2 (1%) 30.7B (7%)
Technology Hardware 2 (2%) 5.0B (4%) 2 (1%) 5.0B (1%)
Aerospace 2 (2%) 4.7B (4%) 2 (1%) 4.7B (1%)
Publishing - - 2 (1%) 3.7B (1%)
Renewable Energy 2 (2%) 2.2B (2%) 2 (1%) 2.2B (1%)
Construction 2 (2%) 1.6B (1%) 2 (1%) 1.6B (< 1%)
Electronics 1 (1%) - 2 (1%) 16M (< 1%)
Furniture 2 (2%) - 2 (1%) -
Machinery 2 (2%) - 2 (1%) -
Semiconductors - - 1 (< 1%) 17.6B (4%)
Beverages - - 1 (< 1%) 2.6B (1%)
Digital Media 1 (1%) 750M (1%) 1 (< 1%) 750M (< 1%)
Consumer Services - - 1 (< 1%) 608M (< 1%)
Franchising - - 1 (< 1%) 454M (< 1%)
Marine - - 1 (< 1%) 177M (< 1%)
Agriculture 1 (1%) - 1 (< 1%) -
Airlines - - 1 (< 1%) -
E-Commerce 1 (1%) - 1 (< 1%) -
Engineering 1 (1%) - 1 (< 1%) -
Total 120 $127.0B 286 $432.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 66 (55%) 113.7B (89%) 178 (62%) 355.8B (82%)
  Texas 10 (8%) 5.5B (4%) 25 (9%) 40.0B (9%)
  New York 7 (6%) 15.3B (12%) 18 (6%) 41.7B (10%)
  California 9 (8%) 10.4B (8%) 17 (6%) 16.0B (4%)
  Illinois 7 (6%) 48.0B (38%) 11 (4%) 52.7B (12%)
  New Jersey 2 (2%) - 10 (4%) 12.9B (3%)
  Massachusetts 6 (5%) 2.1B (2%) 8 (3%) 4.0B (1%)
  Tennessee 3 (3%) 6.1B (5%) 8 (3%) 11.2B (3%)
  Colorado 2 (2%) - 8 (3%) 7.5B (2%)
  Florida 1 (1%) - 7 (2%) 14.7B (3%)
  North Carolina 2 (2%) 6.0B (5%) 5 (2%) 11.2B (3%)
  Maryland 2 (2%) - 5 (2%) 1.0B (< 1%)
  Virginia 1 (1%) - 5 (2%) 29.0B (7%)
  Georgia - - 5 (2%) 5.5B (1%)
  Pennsylvania 1 (1%) 155M (< 1%) 4 (1%) 14.6B (3%)
  Connecticut - - 4 (1%) 2.1B (< 1%)
  Utah 2 (2%) 4.7B (4%) 3 (1%) 6.7B (2%)
  Michigan 1 (1%) - 3 (1%) 5.6B (1%)
  Ohio 1 (1%) - 3 (1%) -
  Indiana - - 3 (1%) 13.3B (3%)
  Kansas 2 (2%) 13.3B (10%) 2 (1%) 13.3B (3%)
  Nevada 1 (1%) - 2 (1%) 30.7B (7%)
  Iowa 1 (1%) - 2 (1%) -
  Arizona - - 2 (1%) -
  Washington 1 (1%) - 1 (< 1%) -
  North Dakota 1 (1%) - 1 (< 1%) -
  Minnesota 1 (1%) - 1 (< 1%) -
  Louisiana 1 (1%) - 1 (< 1%) -
United Kingdom 12 (10%) 9.0B (7%) 24 (8%) 30.9B (7%)
India 12 (10%) 170M (< 1%) 17 (6%) 966M (< 1%)
Germany 5 (4%) 1.1B (1%) 13 (5%) 10.9B (3%)
China 6 (5%) - 9 (3%) 16M (< 1%)
Canada 3 (3%) 385M (< 1%) 6 (2%) 794M (< 1%)
  Ontario 2 (2%) 385M (< 1%) 3 (1%) 385M (< 1%)
  Quebec 1 (1%) - 2 (1%) 200M (< 1%)
  Alberta - - 1 (< 1%) 209M (< 1%)
Bermuda - - 5 (2%) 5.3B (1%)
Netherlands 3 (3%) 1.8B (1%) 4 (1%) 2.8B (1%)
France 2 (2%) - 4 (1%) 2.6B (1%)
New Zealand 2 (2%) 127M (< 1%) 2 (1%) 127M (< 1%)
Australia 1 (1%) 750M (1%) 2 (1%) 1.3B (< 1%)
Japan 1 (1%) - 2 (1%) -
Maldives 1 (1%) - 2 (1%) -
Switzerland - - 2 (1%) 2.2B (< 1%)
Brazil - - 2 (1%) 800M (< 1%)
Mexico - - 2 (1%) 732M (< 1%)
Italy - - 2 (1%) 237M (< 1%)
Belgium 1 (1%) - 1 (< 1%) -
Ireland 1 (1%) - 1 (< 1%) -
South Korea 1 (1%) - 1 (< 1%) -
Luxembourg 1 (1%) - 1 (< 1%) -
Malta 1 (1%) - 1 (< 1%) -
Sweden 1 (1%) - 1 (< 1%) -
Denmark - - 1 (< 1%) 15.8B (4%)
Spain - - 1 (< 1%) 1.3B (< 1%)
Argentina - - 1 (< 1%) -
Domestic 66 (55%) 113.7B (89%) 178 (62%) 355.8B (82%)
Cross-border 54 (45%) 13.4B (11%) 107 (38%) 76.7B (18%)
Total 120 $127.0B 285 $432.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 18 (15%) 37.8B (30%) 71 (25%) 84.1B (20%)
Secondary Buyout 35 (29%) 21.3B (17%) 60 (21%) 48.1B (12%)
Stake Purchase 15 (13%) - 47 (16%) 23.8B (6%)
Divestiture 13 (11%) 22.5B (18%) 29 (10%) 74.6B (18%)
Growth Capital 18 (15%) - 27 (9%) -
Going Private 11 (9%) 44.7B (35%) 25 (9%) 163.4B (39%)
PIPE 5 (4%) - 13 (5%) 19.5B (5%)
Recapitalization 3 (3%) 750M (1%) 6 (2%) 2.8B (1%)
Venture - - 5 (2%) 421M (< 1%)
Consolidation - - 1 (< 1%) 466M (< 1%)
Joint Venture 1 (1%) - 1 (< 1%) -
Special Situations/Distressed 1 (1%) - 1 (< 1%) -
Total 120 $127.0B 286 $417.3B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 37 (27%) 112.2B (82%)
IPO 36 (26%) -
Trade Sale 20 (15%) 11.3B (8%)
Secondary Sale 17 (12%) 3.5B (3%)
Stake Sale 6 (4%) -
Bankruptcy 5 (4%) -
Merger 4 (3%) 9.6B (7%)
Sold to Management 4 (3%) -
Divestiture 3 (2%) -
SPAC 2 (1%) -
Unknown 2 (1%) -
Recapitalization 1 (1%) -
Total 137 $136.6B

Top M&A Advisors

Financial Deals
Bank of America Merrill Lynch (BofA Securities)
20
Citigroup Investment Banking
16
Credit Suisse Investment Banking
14
Legal Deals
Simpson Thacher & Bartlett LLP
48
Kirkland & Ellis LLP
12
Ropes & Gray LLP
5

Deal Values

buy # Total
> $1B 80 $399.2B
$100M to $1B 69 $32.9B
< $100M 8 $367M
TOTAL $432.5B
Largest Medline Industries, Inc.
$34.0B (2021-06-05)
sell # Total
> $1B 34 $133.7B
$100M to $1B 6 $3.2B
< $100M 2 $92M
TOTAL $137.0B
Largest Refinitiv
$27.0B (2019-08-01)

M&A Connections

Deals
Acquired from
Investor(s)
22%
63 (22%)
Strategic(s)
10%
28 (10%)
Exited to
Investor(s)
12%
17 (12%)
Strategic(s)
47%
65 (47%)

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