The Blackstone Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, The Blackstone Group has acquired 51 companies. It has also invested in 11 others.

The Blackstone Group’s most common sectors for investment arecommunications (8%) and information technology (7%) . The Firm’s most common investment types include secondary buyout (24%) and buyout (lbo, mbo, mbi) (23%). In total, The Blackstone Group has invested in 31 US states and 28 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 29 companies. The Firm’s most common exit type is trade sale (39%). 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 Activity505
    • M&A Buy Activity335
    • M&A Sell Activity170
  • Total Sectors Invested 56
  • Total Countries Invested 28
  • M&A Buy/Sell Connections 173
  • M&A Advisors 72

The Blackstone Group

Blackstone Inc.

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

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. 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, New York.


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, Nordic, 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 ≤ '19 '20 '21 '22 '23 '24 T
Buy (14.8/yr) # 261 12 27 11 8 16 335
vol $365.9B $4.7B $70.4B $35.7B $6.9B $43.5B $527.1B
Sell (7.4/yr) # 136 8 16 9 2 2 173
vol $134.9B $14.6B $13.2B $6.3B $740M $525M $170.3B
  508

Most Recent M&A

Company Date Value Type
Jersey Mike's Franchise Systems, Inc. 2024-11-19 8.0B USD Buyout (LBO, MBO, MBI)
Manasquan, New Jersey · www.jerseymikes.com
Smartsheet, Inc. 2024-09-24 8.4B USD Going Private
Bellevue, Washington · www.smartsheet.com
G6 Hospitality LLC 2024-09-20 525M USD Trade Sale
Carrollton, Texas · www.g6hospitality.com
AirTrunk Operating Pty Ltd. 2024-09-04 17.1B AUD Secondary Buyout
North Sydney, Australia · www.airtrunk.com
M3 LLC 2024-08-15 - Buyout (LBO, MBO, MBI)
Lawrenceville, Georgia · www.m3as.com
The Chartis Group LLC 2024-08-14 - Secondary Buyout
Chicago, Illinois · www.chartis.com
Westwood Professional Services, Inc. 2024-08-07 - Secondary Buyout
Minneapolis, Minnesota · www.westwoodps.com
Symphony Infrastructure Partners Pty Ltd. 2024-07-18 - Growth Capital
Sydney, Australia · www.symphonyinfra.com.au
Trystar LLC 2024-07-16 - Secondary Buyout
Faribault, Minnesota · www.trystar.com
Air Control Concepts 2024-07-15 - Growth Capital
Norfolk, Virginia · www.aircontrolconcepts.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Team Health Holdings, Inc. 2016-10-31 Team Health - VirtualCare 2024-09-17 1
Knoxville, Tennessee · www.teamhealth.com , United States
Trystar LLC 2024-07-16 Salient LLC 2024-09-17 1
Faribault, Minnesota · www.trystar.com Charlotte, North Carolina · www.psicontrolsolutions.com
NIBC Holding N.V. 2020-02-25 Beequip 2024-09-05 1
The Hague, Netherlands · www.nibc.com Rotterdam, Netherlands · www.beequip.com
Cvent, Inc. 2023-03-14 One Clipboard, Inc. 2024-09-04 5
Tysons, Virginia · www.cvent.com New York, New York · www.splashthat.com
Medline Industries, Inc. 2021-06-05 Ecolab - Global Surgical Solutions Business 2024-08-01 3
Northfield, Illinois · www.medline.com St. Paul, Minnesota
Lombard International Assurance SA 2014-07-11 Axcelus Financial Life Insurance Co. 2023-11-30 1
Luxembourg, Luxembourg · www.lombardinternational.com Philadelphia, Pennsylvania · www.axcelus.com
Center for Autism and Related Disorders, LLC 2018-04-13 Rivermont and Your Life ABA 2023-08-25 1
Plano, Texas · www.centerforautism.com , Virginia
Desotec N.V 2021-03-18 Evoqua - Carbon Reactivation and Exchange Services Business 2023-06-16 1
Roeselare, Belgium · www.desotec.com Pittsburgh, Pennsylvania
UKG, Inc. 2007-03-23 Immedis 2023-06-06 22
Lowell, Massachusetts · www.ukg.com Dublin, Ireland · www.immedis.com
Schenck Process Holding GmbH 2017-09-21 Schenck Process LLC 2023-05-24 2
Darmstadt, Germany · www.schenckprocess.com Kansas City, Missouri

M&A by Sector

Sector Current # Value All-time # Value
Communications 2 (2%) - 25 (7%) 28.4B (5%)
Information Technology 10 (8%) 31.5B (16%) 23 (7%) 42.0B (8%)
Internet Software and Services 16 (13%) 17.7B (9%) 23 (7%) 32.0B (6%)
Leisure 3 (2%) 6.0B (3%) 16 (5%) 47.2B (9%)
Business Services 9 (7%) 14.0B (7%) 16 (5%) 15.4B (3%)
Financial Services 8 (6%) 4.5B (2%) 16 (5%) 12.5B (2%)
Media 2 (2%) 385M (< 1%) 14 (4%) 15.0B (3%)
Software 5 (4%) - 12 (4%) 12.2B (2%)
Real Estate 7 (5%) 32.0B (17%) 11 (3%) 40.1B (8%)
Insurance 3 (2%) 5.6B (3%) 10 (3%) 8.2B (2%)
Chemicals 1 (1%) 1.1B (1%) 9 (3%) 14.8B (3%)
Energy Services and Equipment 3 (2%) 3.3B (2%) 9 (3%) 8.2B (2%)
Life Science 4 (3%) - 8 (2%) 5.5B (1%)
Oil/Gas Exploration 1 (1%) - 8 (2%) 1.7B (< 1%)
Apparel/Textiles 1 (1%) 1.2B (1%) 7 (2%) 2.9B (1%)
Healthcare Services 2 (2%) - 6 (2%) 4.0B (1%)
Electrical Equipment 4 (3%) - 6 (2%) 1.2B (< 1%)
Transportation 1 (1%) - 6 (2%) 1.1B (< 1%)
Consumer Products 3 (2%) - 6 (2%) 200M (< 1%)
Medical Products 2 (2%) 34.0B (18%) 5 (1%) 47.6B (9%)
Education 3 (2%) - 5 (1%) 1.7B (< 1%)
Environmental 2 (2%) - 5 (1%) 590M (< 1%)
Information Services 2 (2%) 6.0B (3%) 4 (1%) 38.7B (7%)
Utilities 1 (1%) 3.1B (2%) 4 (1%) 10.5B (2%)
Staffing 2 (2%) 6.1B (3%) 4 (1%) 7.3B (1%)
Restaurants 1 (1%) - 4 (1%) 7.3B (1%)
Retail - - 4 (1%) 6.4B (1%)
Food - - 4 (1%) 5.8B (1%)
Automotive - - 4 (1%) 5.6B (1%)
Packaging 1 (1%) - 4 (1%) 4.3B (1%)
Renewable Energy 2 (2%) - 4 (1%) 2.2B (< 1%)
Building Materials 1 (1%) - 4 (1%) 780M (< 1%)
Gaming 2 (2%) 8.9B (5%) 3 (1%) 39.6B (8%)
Manufacturing 1 (1%) - 3 (1%) 5.4B (1%)
Electronics 1 (1%) - 3 (1%) 5.0B (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%)
Construction 2 (2%) 1.6B (1%) 3 (1%) 1.6B (< 1%)
Marketing 2 (2%) - 3 (1%) 750M (< 1%)
Engineering 3 (2%) - 3 (1%) -
Machinery 1 (1%) - 3 (1%) -
Franchising 1 (1%) 8.0B (4%) 2 (1%) 8.5B (2%)
Aerospace 1 (1%) 4.7B (2%) 2 (1%) 4.7B (1%)
Beverages 1 (1%) - 2 (1%) 2.0B (< 1%)
Digital Media 2 (2%) - 2 (1%) -
Furniture 2 (2%) - 2 (1%) -
Infrastructure 2 (2%) - 2 (1%) -
Semiconductors - - 1 (< 1%) 17.6B (3%)
Publishing - - 1 (< 1%) 2.1B (< 1%)
Consumer Services - - 1 (< 1%) 608M (< 1%)
Marine - - 1 (< 1%) 177M (< 1%)
Agriculture - - 1 (< 1%) -
Airlines - - 1 (< 1%) -
E-Commerce 1 (1%) - 1 (< 1%) -
Forest Products 1 (1%) - 1 (< 1%) -
Total 128 $191.5B 336 $527.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 81 (63%) 155.6B (81%) 211 (63%) 426.5B (81%)
  Texas 10 (8%) 14.4B (8%) 33 (10%) 59.7B (11%)
  New York 8 (6%) 15.3B (8%) 22 (7%) 54.4B (10%)
  California 6 (5%) 1.6B (1%) 17 (5%) 16.0B (3%)
  Illinois 6 (5%) 39.4B (21%) 11 (3%) 53.7B (10%)
  Florida 4 (3%) - 10 (3%) 14.7B (3%)
  Massachusetts 7 (5%) 3.1B (2%) 9 (3%) 5.0B (1%)
  New Jersey 2 (2%) 8.0B (4%) 9 (3%) 17.2B (3%)
  Tennessee 4 (3%) 9.1B (5%) 8 (2%) 11.2B (2%)
  Georgia 3 (2%) 1.2B (1%) 8 (2%) 6.7B (1%)
  Colorado 1 (1%) 10.0B (5%) 8 (2%) 17.5B (3%)
  Virginia 3 (2%) 4.6B (2%) 7 (2%) 33.6B (6%)
  Maryland 3 (2%) - 6 (2%) 1.0B (< 1%)
  North Carolina 1 (1%) 6.0B (3%) 6 (2%) 15.1B (3%)
  Pennsylvania 2 (2%) 155M (< 1%) 5 (1%) 14.6B (3%)
  Ohio 2 (2%) - 5 (1%) 215M (< 1%)
  Michigan 1 (1%) - 4 (1%) 5.6B (1%)
  Connecticut - - 4 (1%) 2.1B (< 1%)
  Washington 3 (2%) 10.7B (6%) 3 (1%) 10.7B (2%)
  Utah 2 (2%) 4.7B (2%) 3 (1%) 6.7B (1%)
  Indiana - - 3 (1%) 13.3B (3%)
  Kansas 2 (2%) 13.3B (7%) 2 (1%) 13.3B (3%)
  Wisconsin 2 (2%) - 2 (1%) -
  Minnesota 2 (2%) - 2 (1%) -
  Nevada 1 (1%) - 2 (1%) 30.7B (6%)
  Iowa 1 (1%) - 2 (1%) -
  Arizona - - 2 (1%) -
  Missouri 1 (1%) 14.0B (7%) 1 (< 1%) 14.0B (3%)
  Arkansas 1 (1%) - 1 (< 1%) -
  Alabama 1 (1%) - 1 (< 1%) -
  Louisiana 1 (1%) - 1 (< 1%) -
United Kingdom 8 (6%) 5.8B (3%) 26 (8%) 28.2B (5%)
India 5 (4%) 790M (< 1%) 19 (6%) 1.6B (< 1%)
Germany 3 (2%) - 11 (3%) 8.7B (2%)
China 4 (3%) - 9 (3%) 641M (< 1%)
Australia 4 (3%) 26.0B (14%) 7 (2%) 27.3B (5%)
Canada 3 (2%) 385M (< 1%) 7 (2%) 794M (< 1%)
  Ontario 2 (2%) 385M (< 1%) 3 (1%) 385M (< 1%)
  Quebec - - 2 (1%) 200M (< 1%)
  British Columbia 1 (1%) - 1 (< 1%) -
  Alberta - - 1 (< 1%) 209M (< 1%)
France 4 (3%) - 5 (1%) -
Netherlands 3 (2%) 1.8B (1%) 5 (1%) 4.7B (1%)
Bermuda - - 5 (1%) 5.3B (1%)
Italy 2 (2%) - 4 (1%) 237M (< 1%)
Japan 2 (2%) - 3 (1%) -
Switzerland 1 (1%) 1.1B (1%) 3 (1%) 3.3B (1%)
Luxembourg 1 (1%) - 2 (1%) 1.1B (< 1%)
Singapore 1 (1%) - 2 (1%) -
Brazil - - 2 (1%) 800M (< 1%)
Mexico - - 2 (1%) 732M (< 1%)
New Zealand - - 2 (1%) 127M (< 1%)
Belgium 1 (1%) - 1 (< 1%) -
Israel 1 (1%) - 1 (< 1%) -
South Korea 1 (1%) - 1 (< 1%) -
Malta 1 (1%) - 1 (< 1%) -
Sweden 1 (1%) - 1 (< 1%) -
United Arab Emirates 1 (1%) - 1 (< 1%) -
Denmark - - 1 (< 1%) 15.8B (3%)
Spain - - 1 (< 1%) 1.3B (< 1%)
Argentina - - 1 (< 1%) -
Maldives - - 1 (< 1%) -
Domestic 81 (63%) 155.6B (81%) 211 (63%) 426.5B (81%)
Cross-border 47 (37%) 35.9B (19%) 124 (37%) 100.6B (19%)
Total 128 $191.5B 335 $527.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 46 (36%) 32.7B (18%) 80 (24%) 62.5B (12%)
Buyout (LBO, MBO, MBI) 17 (13%) 44.3B (24%) 76 (23%) 93.0B (19%)
Stake Purchase 9 (7%) - 49 (15%) 23.8B (5%)
Going Private 20 (16%) 81.8B (45%) 36 (11%) 206.4B (41%)
Growth Capital 20 (16%) - 35 (10%) -
Divestiture 11 (9%) 22.8B (13%) 33 (10%) 89.8B (18%)
PIPE - - 12 (4%) 19.5B (4%)
Venture 1 (1%) - 6 (2%) 421M (< 1%)
Recapitalization 2 (2%) - 5 (1%) 2.1B (< 1%)
Special Situations/Distressed 2 (2%) - 3 (1%) 3.9B (1%)
Consolidation - - 1 (< 1%) 466M (< 1%)
Total 128 $181.5B 336 $501.8B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 44 (25%) 114.6B (68%)
IPO 39 (23%) -
Trade Sale 26 (15%) 25.9B (15%)
Secondary Sale 20 (12%) 4.5B (3%)
Stake Sale 15 (9%) -
Merger 9 (5%) 9.6B (6%)
Bankruptcy 6 (3%) -
Divestiture 3 (2%) -
Sold to Management 3 (2%) -
SPAC 3 (2%) -
Sold to Existing Investors 2 (1%) 14.6B (9%)
Unknown 2 (1%) -
Recapitalization 1 (1%) -
Total 173 $169.2B

Top M&A Advisors

Financial Deals
BofA Securities
 24
Barclays Investment Bank
 19
Citigroup Investment Banking
 18
Legal Deals
Simpson Thacher & Bartlett
 62
Kirkland & Ellis
 21
Weil Gotshal & Manges
 7

Deal Values

buy # Total
> $1B 92 $492.8B
$100M to $1B 71 $33.9B
< $100M 8 $367M
TOTAL $527.1B
Largest Medline Industries, Inc.
$34.0B (2021-06-05)
sell # Total
> $1B 40 $163.5B
$100M to $1B 13 $6.8B
< $100M 2 $92M
TOTAL $170.3B
Largest Refinitiv
$27.0B (2019-08-01)

M&A Connections

Deals
Acquired from
Investor(s)
25%
84 (25%)
Strategic(s)
10%
32 (10%)
Exited to
Investor(s)
13%
23 (13%)
Strategic(s)
49%
85 (49%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

131.0B USD

Established

1987

Specialist/Generalist

Generalist

Leadership

Stephen Schwarzman

Chairman, CEO & Co-Founder

Kathleen Hogan

Senior Managing Director, Finance

Kim Percy

senior Managing Director, Finance

Natasha Gopaul

Senior Managing Director, Legal & Compliance

Dwight Scott

Chairman of Blackstone Credit & Insurance

FAQ

When was The Blackstone Group founded?

The Blackstone Group was founded in 1987.

What type of investor is The Blackstone Group?

The Blackstone Group is a private equity firm.

Where is The Blackstone Group headquartered?

The Blackstone Group is headquartered in New York, New York.

How much capital does The Blackstone Group have under management?

The Blackstone Group has 131.0B USD under management.

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