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M&A Deal Summary

Goldman Sachs Merchant Banking Acquires CarltonOne Engagement

On June 6, 2024, private equity firm Goldman Sachs Merchant Banking acquired information technology company CarltonOne Engagement from H.I.G. Private Equity

Acquisition Highlights
  • This is Goldman Sachs Merchant Banking’s 14th transaction in the Information Technology sector.
  • This is Goldman Sachs Merchant Banking’s 5th transaction in Canada.
  • This is Goldman Sachs Merchant Banking’s 2nd transaction in Ontario.

M&A Deal Summary
Date 2024-06-06
Target CarltonOne Engagement
Sector Information Technology
Buyer(s) Goldman Sachs Merchant Banking
Sellers(s) H.I.G. Private Equity
Deal Type Secondary Buyout
Advisor(s) Baird
Canaccord Genuity (Financial)
Paul Hastings (Legal)

Target

CarltonOne Engagement

Markham, Ontario, Canada
CarltonOne Engagement is a technology company that creates B2B employee recognition, rewards, sales/channel incentive, and customer loyalty programs. CarltonOne Engagement was founded in 1989 and is based in Markham, Ontario.

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Buyer(S) 1

Buyer

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 183 of 189
Sector (Information Technology) 14 of 15
Type (Secondary Buyout) 66 of 69
State (Ontario) 2 of 2
Country (Canada) 5 of 5
Year (2024) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-15 Associated Asphalt

Roanoke, Virginia, United States

Associated Asphalt is a independent liquid asphalt resellers in the United States. Associated Asphalt owns and operates ten terminal and storage facilities throughout the Southeast and Mid-Atlantic. The company sells liquid asphalt primarily to paving contractors for road and highway construction and maintenance. Associated Asphalt was founded in 1948 and is based in Roanoke, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-09 TAIT

Lititz, Pennsylvania, United States

TAIT is a provider of advanced creative and engineering solutions to the live entertainment industry. It provides end-to-end solutions to design, construct, manufacture and operate custom-built concert touring and permanent installation experiences. TAIT was founded in 1978 and is based in Lititz, Pennsylvania.

Buy -

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.

DEAL STATS #
Overall 169 of 178
Sector (Information Technology) 12 of 14
Type (Secondary Buyout) 67 of 73
State (Ontario) 4 of 4
Country (Canada) 7 of 8
Year (2024) 4 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-21 Safety Zone

Guilford, Connecticut, United States

Safety Zone is a virtual manufacturer of branded and private-label personal protective equipment and janitorial, safety, hygiene, and sanitation products. Through its Safety Zone and Impact Products divisions, the Company serves a diversified customer base, including janitorial and sanitation supply distributors, safety products resellers, food service and food processing distributors, and retailers. Safety Zone was founded in 1973 and is based in Guilford, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-11 DGS

Rome, Italy

DGS provides digital solutions (system integration on main ERP, CRM, PLM/SCM platform software, and proprietary custom applications), the full spectrum of cybersecurity services (advisory, data protection, network protection, monitoring & control services), and IT management consultancy. DGS was established in 1997 and is based in Rome, Italy.

Sell -
Mergr

Product

Company

Legal