M&A Deal Summary

Goldman Sachs Merchant Banking Acquires Sila Services

On November 11, 2024, private equity firm Goldman Sachs Merchant Banking acquired business services company Sila Services from Morgan Stanley Capital Partners

Acquisition Highlights
  • This is Goldman Sachs Merchant Banking’s 15th transaction in the Business Services sector.
  • This is Goldman Sachs Merchant Banking’s 126th transaction in the United States.
  • This is Goldman Sachs Merchant Banking’s 8th transaction in Pennsylvania.

M&A Deal Summary

Date 2024-11-11
Target Sila Services
Sector Business Services
Buyer(s) Goldman Sachs Merchant Banking
Sellers(s) Morgan Stanley Capital Partners
Deal Type Secondary Buyout
Advisor(s) William Blair
Robert W. Baird & Co., Inc. (Financial)

Target

Sila Services

King of Prussia, Pennsylvania, United States
Sila Services is a provider of residential HVAC, plumbing, indoor air quality, and home automation systems. Sila Heating & Air Conditioning was founded in 1989 and is based in King of Prussia, Pennsylvania.

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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 182 of 182
Sector (Business Services) 15 of 15
Type (Secondary Buyout) 66 of 66
State (Pennsylvania) 8 of 8
Country (United States) 126 of 126
Year (2024) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-23 StandardAero

Scottsdale, Arizona, United States

StandardAero is an independent maintenance, repair, and overhaul (MRO) provider. The Company offers extensive MRO services and custom solutions for business aviation, commercial aviation, military, and industrial power customers. StandardAero is based in Scottsdale, Arizona.

Sell -

Seller(S) 1

DESCRIPTION

Morgan Stanley Capital Partners (MSCP) is the private investment arm of financial services firm and investment bank Morgan Stanley. MSCP looks to partner with founders looking to leverage Morgan Stanley's resources, as well as fund corporate carveouts, recapitalizations, buyouts, and industry consolidations. Areas of interest include business services, industrials, education, consumer products/services, food/beverage, retail, healthcare, and packaging. MSCP primarily targets businesses operating in North America valued between $75 and $750 million. Morgan Stanley Capital Partners is based in New York City.


DEAL STATS #
Overall 25 of 25
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 9 of 9
State (Pennsylvania) 1 of 1
Country (United States) 21 of 21
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-25 American Restoration Operations

Irving, Texas, United States

American Restoration Operations provides comprehensive water, fire, mold, and other related restoration and remediation services to commercial, industrial, and residential customers. American Restoration Operations is based in Irving, Texas.

Buy -