M&A Deal Summary

New Mountain Capital and LLR Partners Acquire Salute Mission Critical

On September 30, 2024, private equity firms New Mountain Capital and LLR Partners acquired information technology company Salute Mission Critical from LLR Partners

Acquisition Highlights
  • This is New Mountain Capital’s 18th and LLR Partners’ 28th transaction in the Information Technology sector.
  • This is New Mountain Capital’s 90th and LLR Partners’ 126th transaction in the United States.
  • This is New Mountain Capital’s 1st and LLR Partners’ 4th transaction in Wisconsin.

M&A Deal Summary

Date 2024-09-30
Target Salute Mission Critical
Sector Information Technology
Buyer(s) New Mountain Capital
LLR Partners
Sellers(s) LLR Partners
Deal Type Secondary Buyout
Advisor(s) DLA Piper (Legal)

Target

Salute Mission Critical

Franklin, Wisconsin, United States
Salute Mission Critical is an IT Data Center Lifecycle services company that recruits and trains military veterans to become world-class technicians. The company deploys, manages, and decommissions data center sites with consistently high-quality results. Salute Mission Critical is based in Franklin, Wisconsin.

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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 95 of 95
Sector (Information Technology) 18 of 18
Type (Secondary Buyout) 38 of 38
State (Wisconsin) 1 of 1
Country (United States) 90 of 90
Year (2024) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-13 Datassential

Chicago, Illinois, United States

Datassential provides data, intelligence, and market research to the food service industry. Datassential makes the global food industry smarter. Hundreds of food manufacturers, chain restaurants, and major food retailers use its trend software, consumer insights, and cutting-edge AI to innovate and sell more effectively. Datassential was founded in 1999 and is based in Chicago, Illinois.

Buy -
Buyer

LLR Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $30 to $150 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 127 of 127
Sector (Information Technology) 28 of 28
Type (Secondary Buyout) 16 of 16
State (Wisconsin) 4 of 4
Country (United States) 126 of 126
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-05 Archer

Berwyn, Pennsylvania, United States

Archer is a technology-enabled service provider for the asset management industry. It has deep and broad-based experience creating customized solutions that help asset managers swiftly launch new products, streamline operations, enter new distribution channels, and manufacturing investment solutions that meet the evolving needs of end investors. Archer was founded in 2000 and is based in Berwyn, Pennsylvania.

Sell -

Seller(S) 1

SELLER

LLR Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $30 to $150 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 75 of 75
Sector (Information Technology) 16 of 16
Type (Secondary Buyout) 14 of 14
State (Wisconsin) 3 of 3
Country (United States) 74 of 74
Year (2024) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-05 Archer

Berwyn, Pennsylvania, United States

Archer is a technology-enabled service provider for the asset management industry. It has deep and broad-based experience creating customized solutions that help asset managers swiftly launch new products, streamline operations, enter new distribution channels, and manufacturing investment solutions that meet the evolving needs of end investors. Archer was founded in 2000 and is based in Berwyn, Pennsylvania.

Sell -