Secondary Buyout • Business Services

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 Context
  • This is Goldman Sachs Merchant Banking’s 15th transaction in the Business Services sector.
  • This is Goldman Sachs Merchant Banking’s 129th transaction in the United States.
  • This is Goldman Sachs Merchant Banking’s 8th transaction in Pennsylvania.

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M&A Deal Summary

Date November 11, 2024
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
Baird (Financial)

Target Company

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 Overview 1

Buyer

Goldman Sachs Merchant Banking

New York, New York, United States

Investor


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 Context for Buyer #
Overall 187 of 189
Sector: Business Services 15 of 15
Type: Secondary Buyout 67 of 68
State: Pennsylvania 8 of 8
Country: United States 129 of 130
Year: 2024 5 of 6
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 was founded in 1911 and is based in Scottsdale, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-03 QMetry

Santa Clara, California, United States

QMetry provides a combination of tools, methodologies, frameworks enabling agile teams to build, manage and deploy software. QMetry is based in Santa Clara, California.

Sell -

Seller Profile 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 Context for Seller #
Overall 29 of 31
Sector: Business Services 1 of 1
Type: Secondary Buyout 10 of 10
State: Pennsylvania 1 of 1
Country: United States 24 of 26
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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-19 FoodScience

Williston, Vermont, United States

FoodScience is a formulator, manufacturer, and marketer of high-quality nutritional supplements for humans and pets. FoodScience was founded in 1973 and is based in Williston, Vermont.

Buy -