Buyout (LBO, MBO, MBI) • Media

New Mountain Capital and CapitalG Acquire BMI

On November 21, 2023, private equity firm New Mountain Capital and corporate investor CapitalG acquired media company BMI

Acquisition Context
  • This is New Mountain Capital’s 1st and CapitalG’s 1st transaction in the Media sector.
  • This is New Mountain Capital’s 88th and CapitalG’s 30th transaction in the United States.
  • This is New Mountain Capital’s 10th and CapitalG’s 7th transaction in New York.

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M&A Deal Summary

Date November 21, 2023
Target BMI
Sector Media
Buyer(s) New Mountain Capital
CapitalG
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Goldman Sachs (Financial)
Fried Frank Harris Shriver & Jacobson (Legal)

Target Company

BMI

New York, New York, United States
BMI is a music rights management company that negotiates music license agreements and distributes the fees it generates as royalties to its affiliated writers and publishers when their songs are performed in public. BMI was founded in 1939 and is based in New York, New York.
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Buyers Overview 2

Buyer

New Mountain Capital

New York, New York, United States

Category Private Equity Firm
Founded 1999
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 1999 and is based in New York, New York.


Deal Context for Buyer #
Overall 92 of 104
Sector: Media 1 of 1
Type: Buyout (LBO, MBO, MBI) 15 of 17
State: New York 10 of 10
Country: United States 88 of 99
Year: 2023 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-15 Apixio

San Mateo, California, United States

Apixio is an operator of an AI healthcare analytics company that is developed to a patented analytics platform to improve healthcare delivery through novel insights from medical records and administrative data. Apixio’s computing platform is built upon insights from analyzing more than 6 million patient charts. Apixio was founded in 2009 and is based in San Mateo, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-04 Covaris

Woburn, Massachusetts, United States

Covaris develops, manufactures, and markets instruments, consumables, and reagents used in pre-analytical sample preparation for genomic and proteomic analysis to help accelerate the pace of research and life science innovations. Covaris is based in Woburn, Massachusetts.

Sell -
Buyer

CapitalG

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Corporate Investor
Founded 2013
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

CapitalG is the growth equity and direct investment arm of Alphabet, Inc. CapitalG invests in emerging tech-enabled service companies and assists with providing tactical advice across key functional areas such as engineering, product, sales, and marketing. CapitalG was formerly known as Google Capital. The Unit was formed in 2013 and is based in San Francisco, California.


Deal Context for Buyer #
Overall 35 of 35
Sector: Media 1 of 1
Type: Buyout (LBO, MBO, MBI) 1 of 1
State: New York 7 of 7
Country: United States 30 of 30
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-22 Freshworks

San Mateo, California, United States

Freshworks provides customer engagement software to businesses of all sizes, making it easy for customer support, sales and marketing professionals to communicate more effectively with customers and deliver moments of wow. Freshworks was founded in 2010 and is based in San Mateo, California.

Sell -