M&A Deal Summary

Goldman Sachs Merchant Banking Acquires Synagro Technologies

On September 23, 2020, private equity firm Goldman Sachs Merchant Banking acquired environmental company Synagro Technologies from EQT

Acquisition Highlights
  • This is Goldman Sachs Merchant Banking’s 3rd transaction in the Environmental sector.
  • This is Goldman Sachs Merchant Banking’s 117th transaction in the United States.
  • This is Goldman Sachs Merchant Banking’s 2nd transaction in Maryland.

M&A Deal Summary

Date 2020-09-23
Target Synagro Technologies
Sector Environmental
Buyer(s) Goldman Sachs Merchant Banking
Sellers(s) EQT
Deal Type Secondary Buyout

Target

Synagro Technologies

Baltimore, Maryland, United States
Synagro Technologies, Inc. works to turn waste into worth by helping more than 1,000 municipal and industrial water and wastewater facilities in North America move toward safer, cleaner, and more environmentally beneficial practices. For some, it’s simply cleaning the water supply. As the largest recycler of organic by-products in North America, the company is trusted because it removes risks while keeping the logistics clean. Synagro Technologies was founded in 1986 and is based in Baltimore, Maryland.

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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 165 of 182
Sector (Environmental) 3 of 3
Type (Secondary Buyout) 58 of 66
State (Maryland) 2 of 2
Country (United States) 117 of 126
Year (2020) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-27 QMetry

Santa Clara, California, United States

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

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-22 Information Builders

New York, New York, United States

Information Builders is a provider of solutions for business intelligence (BI), analytics, data integration, and data quality that help drive performance improvements, innovation, and value. Information Builders was established in 1975 and is based in New York City.

Sell -

Seller(S) 1

SELLER

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 131 of 186
Sector (Environmental) 2 of 4
Type (Secondary Buyout) 38 of 57
State (Maryland) 1 of 1
Country (United States) 13 of 27
Year (2020) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-17 Casa

Milan, Italy

Casa is an online real estate portal that enables users to buy and sell residential​ properties. It supports approximately 14,000 real estate agents with over 1 million property listings on its website for prospective homeowners and sellers in Italy. Casa was founded in 1996 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-26 Oterra

Hoersholm, Denmark

Oterra is the largest global provider of naturally sourced colors for the food, beverage, dietary supplements, and pet food industry. Oterra was founded in 2020 and is based in Hoersholm, Denmark.

Buy -