M&A Deal Summary

KKR Acquires NetSPI

On October 5, 2022, private equity firm KKR acquired information technology company NetSPI from Sunstone Partners

Acquisition Highlights
  • This is KKR’s 22nd transaction in the Information Technology sector.
  • This is KKR’s 187th transaction in the United States.
  • This is KKR’s 6th transaction in Minnesota.

M&A Deal Summary
Date 2022-10-05
Target NetSPI
Sector Information Technology
Buyer(s) KKR
Sellers(s) Sunstone Partners
Deal Type Secondary Buyout

Target

NetSPI

Minneapolis, Minnesota, United States
NetSPI is a provider of application and network security testing solutions that support organizations in scaling and operationalizing their threat and vulnerability management programs. NetSPI's clients consist of financial institutions, healthcare providers, retailers, and technology companies. NetSPI was founded in 2001 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 439 of 483
Sector (Information Technology) 22 of 26
Type (Secondary Buyout) 90 of 107
State (Minnesota) 6 of 6
Country (United States) 187 of 210
Year (2022) 19 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-20 Hero Future Energies

London, United Kingdom

Hero Future Energies is an independent renewable energy power producer with a scaled and diversified operating portfolio of 1.6GW of wind and solar projects. Hero Future Energies was founded in 2012 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-06 DCI

Tampa, Florida, United States

DCI operates a chemical bulk logistics network. DCI was formed in 1984 and is based in Tampa, Florida.

Buy -

Seller(S) 1

SELLER

Sunstone Partners

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2015
PE ASSETS 800M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Sunstone Partners is a private investment firm focused on growth equity investments in and majority buyouts of tech companies. The Firm targets opportunities throughout North American and seeks businesses with at least $10 million in revenues and at least 20% of yearly growth. Sunstone Partners was formed in 2015 from a team that previously worked together at Trident Capital. The Firm is based in San Mateo, California.

DEAL STATS #
Overall 2 of 4
Sector (Information Technology) 1 of 2
Type (Secondary Buyout) 1 of 2
State (Minnesota) 1 of 1
Country (United States) 2 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-13 OSF Digital

Quebec City, Quebec, Canada

OSF Digital is a global commerce and digital transformation company, with expertise in enterprise-connected commerce, order management solutions, storefront management services, commerce consulting, and cloud application development. With proficiency in B2C and B2B commerce and experience in helping businesses leverage commerce, marketing, sales, and service solutions, OSF seamlessly guides companies throughout their entire digital transformation journey. OSF Digital is a trusted Salesforce Consulting Partner since 2010, being awarded by Salesforce numerous times for advancing the commerce industry. As a global company with a local presence in North America, Latin America, APAC, and EMEA, the company ensures efficient delivery in all time zones and markets. OSF Digital was formed in 2003 and is based in Quebec City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-27 UserTesting

San Francisco, California, United States

UserTesting is a video-based human insight that taps into a client's global network of real people and generates video-based recorded experiences, so anyone in an organization can directly ask questions, hear what users say, see what they mean, and understand what it’s actually like to be a customer. The company reduces guesswork and brings customer experience data to life with human insight. It has more than 2,500 customers, including more than half of the world’s top 100 most valuable brands according to Forbes. UserTesting was founded in 2007 and is based in San Francisco, California.

Buy $1.3B
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