Frontier Growth Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Frontier Growth has invested in 1 company.

Frontier Growth’s most common sectors for investment areinformation technology (26%) and software (25%) . The Firm’s most common investment types include growth capital (63%) and buyout (lbo, mbo, mbi) (17%). In total, Frontier Growth has invested in 18 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2001 when it acquired Digital Envoy for $11M.

In the last 3 years, Frontier Growth has exited 3 companies. The Firm’s most common exit type is trade sale (60%). Frontier Growth’s largest (disclosed) exit occurred in 2021 when it sold InteliSecure for $63M.

Join Mergr to view Frontier Growth’s full profile and discover more middle-market growth capital firm investors just like it.

M&A Summary

  • M&A Total Activity91
    • M&A Buy Activity54
    • M&A Sell Activity37
  • Total Sectors Invested 13
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 33
  • M&A Advisors 5

Frontier Growth

FC Capital Management LLC

525 N Tryon Street, Suite 1900,
Charlotte, North Carolina 28202
United States
(704) 414-2880
www.frontiergrowth.com
info@frontiergrowth.com

Frontier Capital LLC is a private investment firm that provides expansion capital to high-growth 'technology-enabled' business service companies generating revenues $8-$30 million. Frontier targets companies that utilize technology, an innovative business process, or a unique expertise to deliver a differentiated service to customers. Frontier typically invests throughout the Southeast and Mid-Atlantic regions of the US and looks to commit $10 to $50 million of equity capital per transaction. Investment proceeds are generally used for growth initiatives, acquisitions, or to provide shareholder liquidity. Frontier Capital was formed in 1999 and is based in Charlotte, North Carolina.


Investment Criteria

Sectors of Interest: Information Technology, Internet Software and Services, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 8 30
Target EBITDA - -
Investment Size 10 50
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.4/yr) # 52 1 1 - - - 54
vol $20M $20M
Sell (1.2/yr) # 31 3 3 - - - 37
vol $68M $63M $131M
  91

Most Recent M&A

Company Date Value Type
Agreement Express, Inc. 2022-12-06 - Add-on Acquisition
Vancouver, British Columbia · www.agreementexpress.com
MediaRadar, Inc. 2022-09-26 - Secondary Buyout
New York, New York · www.mediaradar.com
talentReef, Inc. 2022-08-10 - Add-on Acquisition
Denver, Colorado · www.talentreef.com
Burbank Dental Laboratory LLC 2022-03-15 - Growth Capital
Burbank, California · www.burbankdental.com
ServiceTrade 2021-12-06 - Growth Capital
Durham, North Carolina · www.servicetrade.com
GovQA LLC 2021-08-26 - Add-on Acquisition
Woodridge, Illinois · www.govqa.com
MediaPRO Holdings LLC 2021-03-03 - Add-on Acquisition
Bothell, Washington · www.mediapro.com
InteliSecure, Inc. 2021-02-22 63M USD Add-on Acquisition
Greenwood Village, Colorado · www.intelisecure.com
PowerDMS, Inc. 2020-12-14 - Merger
Orlando, Florida · www.powerdms.com
GovQA LLC 2019-07-09 - Growth Capital
Woodridge, Illinois · www.govqa.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 3 (33%) - 14 (26%) 12M (59%)
Software 4 (44%) - 13 (24%) -
Business Services - - 9 (17%) -
Internet Software and Services 1 (11%) - 7 (13%) -
Manufacturing - - 2 (4%) 8M (41%)
Life Science - - 2 (4%) -
Communications - - 1 (2%) -
Healthcare Services - - 1 (2%) -
Marketing - - 1 (2%) -
Medical Products 1 (11%) - 1 (2%) -
Publishing - - 1 (2%) -
Safety/Security - - 1 (2%) -
Staffing - - 1 (2%) -
Total 9 - 54 $20M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 8 (89%) - 52 (96%) 20M (100%)
  Georgia 2 (22%) - 8 (15%) 12M (59%)
  North Carolina 1 (11%) - 7 (13%) 8M (41%)
  Texas 1 (11%) - 7 (13%) -
  California 2 (22%) - 4 (7%) -
  Washington - - 4 (7%) -
  South Carolina 1 (11%) - 3 (6%) -
  Utah - - 3 (6%) -
  New York 1 (11%) - 2 (4%) -
  Illinois - - 2 (4%) -
  Florida - - 2 (4%) -
  Colorado - - 2 (4%) -
  Alabama - - 2 (4%) -
  Virginia - - 1 (2%) -
  Vermont - - 1 (2%) -
  Massachusetts - - 1 (2%) -
  Maine - - 1 (2%) -
  Indiana - - 1 (2%) -
  Arizona - - 1 (2%) -
Canada 1 (11%) - 2 (4%) -
  Ontario 1 (11%) - 1 (2%) -
  British Columbia - - 1 (2%) -
Domestic 8 (89%) - 52 (96%) 20M (100%)
Cross-border 1 (11%) - 2 (4%) -
Total 9 - 54 $20M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 9 (100%) - 34 (63%) 1M (5%)
Buyout (LBO, MBO, MBI) - - 9 (17%) -
Venture - - 7 (13%) 19M (95%)
Recapitalization - - 2 (4%) -
Consolidation - - 1 (2%) -
Secondary Buyout - - 1 (2%) -
Total 9 - 54 $20M

Exits by Deal Type

Type Total # Value
Trade Sale 14 (38%) -
Trade Sale - Public Company 9 (24%) 131M (100%)
Secondary Sale 9 (24%) -
Merger 3 (8%) -
Recapitalization 1 (3%) -
Unknown 1 (3%) -
Total 37 $131M

Top M&A Advisors

Financial Deals
William Blair
 1
Arlington Capital Advisors LLC
 1
Signal Hill Capital Group LLC
 1
Legal Deals
Womble Bond Dickinson LLP
 1

Deal Values

buy # Total
< $100M 3 $20M
TOTAL $20M
Largest Digital Envoy, Inc.
$11M (2001-07-23)
sell # Total
< $100M 3 $131M
TOTAL $131M
Largest InteliSecure, Inc.
$63M (2021-02-22)

M&A Connections

Deals
Acquired from
Investor(s)
4%
2 (4%)
Exited to
Investor(s)
27%
10 (27%)
Strategic(s)
68%
25 (68%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Middle-Market

PE Assets

1.0B USD

Established

1999

Specialist/Generalist

Specialist

Leadership

Andrew Lindner

Co- Founder & Partner

Richard Maclean

Co- Founder & Partner

Steve Sellers

Head of Talent

Christopher Fountain

Operating Partner

Joel Lanik

Partner

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