GTCR Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, GTCR has acquired 6 companies. It has also invested in 1 other.

GTCR’s most common sectors for investment arehealthcare services (15%) and information technology (12%) . The Firm’s most common investment types include secondary buyout (25%) and stake purchase (20%). In total, GTCR has invested in 31 US states and 6 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Wells Fargo Asset Management for $2.1B.

The Firm’s most common exit type is trade sale (49%). GTCR’s largest (disclosed) exit occurred in 2020 when it sold Optimal Blue for $1.8B.

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M&A Summary

  • M&A Total Activity210
    • M&A Buy Activity129
    • M&A Sell Activity81
  • Total Sectors Invested 29
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 81
  • M&A Advisors 41

GTCR

300 N. LaSalle Street, Suite 5600,
Chicago, Illinois 60654
United States
(312) 382-2200
www.gtcr.com
info@gtcr.com

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


Investment Criteria

Sectors of Interest: Aerospace, Business Services, Communications, Consumer Products, Consumer Services, Defense, Education, Electronics, Financial Services, Food, Healthcare Services, Information Technology, Insurance, Leisure, Life Science, Marketing, Media, Medical Products, Safety/Security, Software, Technology Hardware, Transportation, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Recapitalization, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.6/yr) # 116 6 4 3 - - 129
vol $7.9B $2.1B $10.0B
Sell (0.6/yr) # 78 3 - - - - 81
vol $24.8B $1.1B $26.0B
  210

Most Recent M&A

Company Date Value Type
ADT - Commercial Fire & Security Segment 2023-08-08 - Divestiture
Boca Raton, Florida
Once For All 2023-07-24 - Secondary Buyout
Paris, France · www.onceforall.com
Worldpay, Inc. 2023-07-06 - Divestiture
Jacksonville, Florida · www.worldpay.com
Biocoat, Inc. 2022-11-02 - Secondary Buyout
Horsham, Pennsylvania · www.biocoat.com
Visionary Broadband Seller, Inc. 2022-06-06 - Growth Capital
Gillette, Wyoming · www.vcn.com
PathGroup, Inc. 2022-05-13 - Secondary Buyout
Brentwood, Tennessee · www.pathgroup.com
Experity, Inc. 2022-03-01 - Buyout (LBO, MBO, MBI)
Machesney Park, Illinois · www.experityhealth.com
Cargo Group, Inc. 2021-11-01 - Secondary Buyout
Holtsville, New York · www.cisive.com
Lexipol LLC 2021-10-12 - Secondary Buyout
Frisco, Texas · www.lexipol.com
PPC Flexible Packaging 2021-10-01 - Secondary Buyout
Buffalo Grove, Illinois · www.ppcflex.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Dreamscape, Inc. 2020-05-12 Mediaocean - Lumina 2023-06-12 2
Salt Lake City, Utah New York, New York
Simplifi Holdings, Inc. 2017-08-31 Bidtellect, Inc. 2023-02-28 3
Fort Worth, Texas · www.simpli.fi Delray Beach, Florida · www.bidtellect.com
PPC Flexible Packaging 2021-10-01 StePac L.A. Ltd. 2023-02-01 1
Buffalo Grove, Illinois · www.ppcflex.com Tefen, Israel · www.stepac.com
Resonetics LLC 2018-02-01 Memry Corp. 2023-01-09 12
Nashua, New Hampshire · www.resonetics.com Bethel, Connecticut · www.memry.com
Transaction Data Systems, Inc. 2021-05-17 Tabula Rasa HealthCare, Inc. - PrescribeWellness Business 2022-06-21 1
Orlando, Florida · www.tdsclinical.com , New Jersey
EaglePicher Technologies LLC 2018-01-23 EaglePicher Technologies - Medical Power Business 2022-04-11 1
Joplin, Missouri · www.eaglepicher.com Vancouver, British Columbia
Park Place Technologies, Inc. 2015-11-30 Congruity360 - Storfirst 2022-02-01 18
Cleveland, Ohio · www.parkplacetechnologies.com Pembroke, Massachusetts
Corza Medical GmbH 2019-03-20 Katena Products, Inc. 2021-12-02 2
Zürich, Switzerland · www.corza.com Parsippany, New Jersey · www.katena.com
Resonetics LLC 2018-02-01 Hudson Medical Innovations 2021-11-16 11
Nashua, New Hampshire · www.resonetics.com Hudson, Wisconsin · www.hudsonmedicalinnovations.com
Resonetics LLC 2018-02-01 Fiso Technologies, Inc. 2021-11-09 10
Nashua, New Hampshire · www.resonetics.com Quebec, Quebec · www.fiso.com

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 2 (6%) - 19 (15%) 675M (7%)
Information Technology 5 (14%) - 15 (12%) 500M (5%)
Business Services 2 (6%) - 14 (11%) -
Communications 4 (11%) - 11 (8%) 800M (8%)
Financial Services 3 (8%) 2.1B (66%) 10 (8%) 4.0B (40%)
Software 4 (11%) 1.1B (34%) 9 (7%) 1.5B (15%)
Life Science 3 (8%) - 8 (6%) -
Insurance 2 (6%) - 6 (5%) 1.0B (10%)
Internet Software and Services - - 5 (4%) -
Medical Products 3 (8%) - 5 (4%) -
Safety/Security 1 (3%) - 4 (3%) 828M (8%)
Test/Measurement Equipment 1 (3%) - 2 (2%) 480M (5%)
Aerospace 1 (3%) - 2 (2%) -
Chemicals 2 (6%) - 2 (2%) -
Information Services - - 2 (2%) -
Marketing 1 (3%) - 2 (2%) -
Media - - 2 (2%) -
Utilities - - 1 (1%) 205M (2%)
Transportation - - 1 (1%) 38M (< 1%)
Consumer Products - - 1 (1%) -
Consumer Services - - 1 (1%) -
Defense - - 1 (1%) -
Distribution - - 1 (1%) -
Electrical Equipment 1 (3%) - 1 (1%) -
Environmental - - 1 (1%) -
Food - - 1 (1%) -
Machinery - - 1 (1%) -
Packaging 1 (3%) - 1 (1%) -
Real Estate - - 1 (1%) -
Total 36 $3.2B 130 $10.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 34 (94%) 3.2B (100%) 124 (95%) 7.6B (76%)
  Illinois 7 (19%) - 19 (15%) 2.3B (23%)
  Florida 6 (17%) - 13 (10%) -
  New York 3 (8%) 1.1B (34%) 11 (8%) 1.1B (11%)
  California 2 (6%) 2.1B (66%) 10 (8%) 2.6B (26%)
  Texas 2 (6%) - 8 (6%) -
  Tennessee 1 (3%) - 7 (5%) -
  Georgia 1 (3%) - 6 (5%) 516M (5%)
  Ohio 2 (6%) - 5 (4%) 675M (7%)
  Maryland - - 5 (4%) -
  North Carolina 1 (3%) - 4 (3%) 38M (< 1%)
  Missouri 2 (6%) - 3 (2%) -
  Pennsylvania 1 (3%) - 3 (2%) -
  Virginia - - 3 (2%) -
  Colorado - - 3 (2%) -
  New Hampshire 1 (3%) - 2 (2%) 390M (4%)
  Utah 1 (3%) - 2 (2%) -
  Oregon 1 (3%) - 2 (2%) -
  Connecticut 1 (3%) - 2 (2%) -
  Wisconsin - - 2 (2%) -
  New Jersey - - 2 (2%) -
  Kentucky - - 2 (2%) -
  Wyoming 1 (3%) - 1 (1%) -
  Michigan 1 (3%) - 1 (1%) -
  Oklahoma - - 1 (1%) -
  Nevada - - 1 (1%) -
  Nebraska - - 1 (1%) -
  Minnesota - - 1 (1%) -
  Massachusetts - - 1 (1%) -
  Kansas - - 1 (1%) -
  Delaware - - 1 (1%) -
  Alabama - - 1 (1%) -
United Kingdom - - 2 (2%) 1.4B (14%)
France 1 (3%) - 1 (1%) -
Switzerland 1 (3%) - 1 (1%) -
Bermuda - - 1 (1%) 1.0B (10%)
Canada - - 1 (1%) -
  Alberta - - 1 (1%) -
Domestic 34 (94%) 3.2B (100%) 124 (95%) 7.6B (76%)
Cross-border 2 (6%) - 6 (5%) 2.4B (24%)
Total 36 $3.2B 130 $10.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 17 (47%) - 32 (25%) 1.2B (12%)
Buyout (LBO, MBO, MBI) 3 (8%) - 26 (20%) 1.2B (12%)
Stake Purchase 1 (3%) - 26 (20%) -
Consolidation 6 (17%) - 12 (9%) -
Divestiture 3 (8%) 2.1B (66%) 11 (8%) 4.3B (43%)
Growth Capital 2 (6%) - 8 (6%) -
Going Private 2 (6%) 1.1B (34%) 6 (5%) 3.1B (31%)
Recapitalization 2 (6%) - 6 (5%) -
PIPE - - 2 (2%) 200M (2%)
Venture - - 1 (1%) -
Total 36 $3.2B 130 $10.0B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 27 (33%) 15.8B (65%)
Secondary Sale 19 (23%) 3.9B (16%)
Trade Sale 13 (16%) 4.6B (19%)
IPO 13 (16%) -
Merger 3 (4%) -
Unknown 3 (4%) -
Bankruptcy 2 (2%) -
Stake Sale 1 (1%) -
Total 81 $24.3B

Top M&A Advisors

Financial Deals
Jefferies
 6
Barclays Investment Bank
 4
Credit Suisse Investment Banking
 4
Legal Deals
Kirkland & Ellis
 43
Latham & Watkins
 13
Skadden, Arps, Slate, Meagher & Flom LLP
 2

Deal Values

buy # Total
> $1B 4 $5.6B
$100M to $1B 9 $4.4B
< $100M 1 $38M
TOTAL $10.0B
Largest Wells Fargo Asset Management
$2.1B (2021-02-23)
sell # Total
> $1B 10 $13.8B
$100M to $1B 22 $12.2B
TOTAL $26.0B
Largest Optimal Blue LLC
$1.8B (2020-07-27)

M&A Connections

Deals
Acquired from
Investor(s)
26%
34 (26%)
Strategic(s)
7%
9 (7%)
Exited to
Investor(s)
25%
20 (25%)
Strategic(s)
53%
43 (53%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

15.0B USD

Established

1980

Specialist/Generalist

Generalist

Leadership

Aaron Cohen

Managing Director

Benjamin Daverman

Managing Director

Collin Roche

Managing Director

Constantine Mihas

Managing Director

Craig Bondy

Managing Director

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