Monroe Capital Mergers and Acquisitions Summary

Lender Profile

In the last 3 years, Monroe Capital has acquired 6 companies. It has also invested in 3 others.

Monroe Capital’s most common sectors for investment arehealthcare services (7%) and information technology (7%) . The Firm’s most common investment types include growth capital (38%) and buyout (lbo, mbo, mbi) (26%). In total, Monroe Capital has invested in 31 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2018 when it acquired MindBody for $1.9B.

In the last 3 years, Monroe Capital has exited 8 companies. The Firm’s most common exit type is trade sale (49%). Monroe Capital’s largest (disclosed) exit occurred in 2010 when it sold InfrastruX Group for $360M.

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M&A Summary

  • M&A Total Activity144
    • M&A Buy Activity97
    • M&A Sell Activity47
  • Total Sectors Invested 41
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 98

Monroe Capital LLC

311 South Wacker Drive, 64th Floor,
Chicago, Illinois 60606
United States
(312) 258-8300
www.monroecap.com
info@monroecap.com

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Business Services, Communications, Construction, Consumer Products, Consumer Services, Defense, Digital Media, Distribution, Education, Energy Services and Equipment, Food, Furniture, Healthcare Services, Information Services, Information Technology, Infrastructure, Internet Software and Services, Life Science, Machinery, Manufacturing, Marketing, Media, Packaging, Publishing, Real Estate, Retail, Safety/Security, Software, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization, Acquisition Financing, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue 10 1,000
Target EBITDA 3 35
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.6/yr) # 84 4 5 4 - - 97
vol $2.9B $2.9B
Sell (2.4/yr) # 37 4 6 2 - - 49
vol $872M $355M $1.2B
  146

Most Recent M&A

Company Date Value Type
Vice Media Group 2023-07-31 - Special Situations/Distressed
Brooklyn, New York · www.vice.com
MEI Rigging & Crating LLC 2023-07-06 - Secondary Buyout
Albany, Oregon · www.meiriggingcrating.com
RedZone Robotics, Inc. 2023-02-01 - Add-on Acquisition
Warrendale, Pennsylvania · www.redzone.com
Vin Di Bona Productions 2023-01-23 - Growth Capital
Los Angeles, California · www.vindibonaproductions.com
Edustaff LLC 2023-01-18 - Growth Capital
Grand Rapids, Michigan · www.edustaff.org
MarkLogic Corp. 2023-01-03 355M USD Add-on Acquisition
Redwood City, California · www.marklogic.com
AutoCruitment LLC 2022-10-27 - Buyout (LBO, MBO, MBI)
New York City, New York · www.autocruitment.com
Magneto & Diesel Injector Service, Inc. 2022-09-01 - Secondary Buyout
Humble, Texas · www.mddistributors.com
Curion LLC 2022-08-25 - Recapitalization
Chamblee, Georgia · www.curioninsights.com
Contract Filling, Inc. 2022-08-18 - Add-on Acquisition
Cedar Grove, New Jersey · www.contractfillinginc.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Inland Pipe Rehabilitation LLC 2018-12-27 Granite Construction, Inc. - Inliner 2022-02-03 2
Conyers, Georgia · www.inlandpiperehab.com Watsonville, California
MindBody, Inc. 2018-12-24 ClassPass, Inc. 2021-10-13 3
San Luis Obispo, California · www.mindbodyonline.com New York, New York · www.classpass.com
Summit Packaging Solutions 2014-01-16 Berkeley Contract Packaging LLC 2016-05-03 2
Alpharetta, Georgia · www.1teamsummit.com Kenilworth, New Jersey

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 2 (6%) 780M (29%) 6 (6%) 780M (27%)
Healthcare Services 3 (9%) - 6 (6%) -
Internet Software and Services 2 (6%) - 5 (5%) 193M (7%)
Business Services 3 (9%) - 5 (5%) -
Construction 2 (6%) - 4 (4%) -
Manufacturing 2 (6%) - 4 (4%) -
Media 2 (6%) - 4 (4%) -
Software 1 (3%) 1.9B (71%) 3 (3%) 1.9B (66%)
Apparel/Textiles 1 (3%) - 3 (3%) -
Automotive - - 3 (3%) -
Building Materials 1 (3%) - 3 (3%) -
Life Science 1 (3%) - 3 (3%) -
Machinery 2 (6%) - 3 (3%) -
Marketing 1 (3%) - 3 (3%) -
Medical Products - - 3 (3%) -
Safety/Security 1 (3%) - 3 (3%) -
Test/Measurement Equipment - - 3 (3%) -
Consumer Products - - 2 (2%) -
Digital Media 1 (3%) - 2 (2%) -
Electronics - - 2 (2%) -
Energy Services and Equipment - - 2 (2%) -
Furniture 1 (3%) - 2 (2%) -
Packaging 2 (6%) - 2 (2%) -
Retail 1 (3%) - 2 (2%) -
Staffing 1 (3%) - 2 (2%) -
Transportation 1 (3%) - 2 (2%) -
Aerospace - - 1 (1%) -
Chemicals - - 1 (1%) -
Consumer Services - - 1 (1%) -
Distribution - - 1 (1%) -
E-Commerce - - 1 (1%) -
Education 1 (3%) - 1 (1%) -
Engineering - - 1 (1%) -
Financial Services - - 1 (1%) -
Food 1 (3%) - 1 (1%) -
Information Services 1 (3%) - 1 (1%) -
Insurance - - 1 (1%) -
Leisure - - 1 (1%) -
Metals/Mining - - 1 (1%) -
Technology Hardware - - 1 (1%) -
Utilities - - 1 (1%) -
Total 34 $2.7B 97 $2.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 33 (97%) 2.7B (100%) 96 (99%) 2.9B (100%)
  California 5 (15%) 1.9B (71%) 17 (18%) 2.1B (73%)
  Texas - - 7 (7%) -
  New York 2 (6%) - 6 (6%) -
  Georgia 5 (15%) - 5 (5%) -
  New Jersey 1 (3%) - 5 (5%) -
  Illinois 1 (3%) - 5 (5%) -
  Colorado 2 (6%) - 4 (4%) -
  North Carolina 2 (6%) - 4 (4%) -
  Florida 2 (6%) - 4 (4%) -
  Massachusetts 1 (3%) 780M (29%) 4 (4%) 780M (27%)
  Michigan 2 (6%) - 3 (3%) -
  Nevada 1 (3%) - 3 (3%) -
  Minnesota 1 (3%) - 3 (3%) -
  Ohio - - 3 (3%) -
  Utah 2 (6%) - 2 (2%) -
  Washington 1 (3%) - 2 (2%) -
  Tennessee 1 (3%) - 2 (2%) -
  Oregon 1 (3%) - 2 (2%) -
  Mississippi - - 2 (2%) -
  Kansas - - 2 (2%) -
  District of Columbia 1 (3%) - 1 (1%) -
  Wisconsin 1 (3%) - 1 (1%) -
  Missouri 1 (3%) - 1 (1%) -
  Connecticut - - 1 (1%) -
  Virginia - - 1 (1%) -
  Pennsylvania - - 1 (1%) -
  Oklahoma - - 1 (1%) -
  Nebraska - - 1 (1%) -
  Maryland - - 1 (1%) -
  Iowa - - 1 (1%) -
  Indiana - - 1 (1%) -
Canada 1 (3%) - 1 (1%) -
  Ontario 1 (3%) - 1 (1%) -
Domestic 33 (97%) 2.7B (100%) 96 (99%) 2.9B (100%)
Cross-border 1 (3%) - 1 (1%) -
Total 34 $2.7B 97 $2.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 13 (38%) - 36 (37%) -
Buyout (LBO, MBO, MBI) 7 (21%) 780M (29%) 25 (26%) 780M (27%)
Secondary Buyout 4 (12%) - 10 (10%) -
Divestiture 3 (9%) - 7 (7%) 193M (7%)
Recapitalization 2 (6%) - 7 (7%) -
Add-on Acquisition 2 (6%) - 4 (4%) -
Consolidation - - 2 (2%) -
Special Situations/Distressed 1 (3%) - 2 (2%) -
Stake Purchase - - 2 (2%) -
Going Private 1 (3%) 1.9B (71%) 1 (1%) 1.9B (66%)
Acquisition Financing 1 (3%) - 1 (1%) -
Total 34 $2.7B 97 $2.9B

Exits by Deal Type

Type Total # Value
Trade Sale 15 (31%) 110M (9%)
Secondary Sale 13 (27%) 110M (9%)
Trade Sale - Public Company 9 (18%) 1.0B (82%)
Merger 3 (6%) -
Bankruptcy 2 (4%) -
Recapitalization 2 (4%) -
SPAC 2 (4%) -
Shut Down 1 (2%) -
Sold to Management 1 (2%) -
Unknown 1 (2%) -
Total 49 $1.2B

Deal Values

buy # Total
> $1B 1 $1.9B
$100M to $1B 2 $973M
TOTAL $2.9B
Largest MindBody, Inc.
$1.9B (2018-12-24)
sell # Total
$100M to $1B 4 $1.0B
< $100M 3 $196M
TOTAL $1.2B
Largest InfrastruX Group LLC
$360M (2010-07-01)

M&A Connections

Deals
Acquired from
Investor(s)
11%
11 (11%)
Strategic(s)
6%
6 (6%)
Exited to
Investor(s)
31%
15 (31%)
Strategic(s)
55%
27 (55%)

Investor Summary

Investor Type

Lender

Size

Mega

PE Assets

14.1B USD

Established

2004

Specialist/Generalist

Generalist

Leadership

Theodore Koenig

Chairman & CEO

Jeffery Cupples

Deputy Head Of Credit, Direct Investments

Matthew Lane

Deputy Head of Underwriting & Direct Investments

Gerry Burrows

Managing Director

Jonathan Weinberg

Managing Director

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