M&A Deal Summary

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 Highlights
  • This is New Mountain Capital’s 1st and CapitalG’s 1st transaction in the Media sector.
  • This is New Mountain Capital’s 85th and CapitalG’s 31st transaction in the United States.
  • This is New Mountain Capital’s 3rd and CapitalG’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2023-11-21
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

BMI

Nashville, Tennessee, 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 is based in Nashville, Tennessee.

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Buyer(S) 2

Buyer

New Mountain Capital

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B 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 2000 and is based in New York City.

DEAL STATS #
Overall 89 of 95
Sector (Media) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 13 of 14
State (Tennessee) 3 of 3
Country (United States) 85 of 90
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-24 Verisk Analytics - 3E Business

Jersey City, New Jersey, United States

Verisk Analytics's 3E Business provides intelligent compliance solutions that enable companies to manage global regulatory compliance, product stewardship risk and drive continuous improvement to support their environmental health and safety (EHS) initiatives.

Buy $950M
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 STATS #
Overall 36 of 36
Sector (Media) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 31 of 31
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 offers a full suite of SaaS (Software as a Service) products that create compelling customer experiences and lets businesses share a 360-degree view of relevant customer information internally. Freshworks was founded in 2010 and is based in San Mateo, California.

Sell -
Mergr

Product

Company

Legal