Prospect Capital Management Mergers and Acquisitions Summary

Business Development Company Profile

In the last 3 years, Prospect Capital Management has acquired 1 company.

Prospect Capital Management’s most common sectors for investment areenergy services and equipment (14%) and consumer products (10%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (49%) and secondary buyout (24%). In total, Prospect Capital Management has invested in 29 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2008 when it acquired The TriZetto Group for $1.4B.

In the last 3 years, Prospect Capital Management has exited 1 company. The Firm’s most common exit type is secondary buyout (48%). Prospect Capital Management’s largest (disclosed) exit occurred in 2014 when it sold The TriZetto Group for $2.7B.

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M&A Summary

M&A Total Activity132
- M&A Buy Activity86
- M&A Sell Activity46
Total Sectors Invested 33
Total Countries Invested 3
M&A Buy/Sell Connections 64
M&A Advisors 5

Prospect Capital Management

Transaction Criteria	Min	Max
Target Revenue	-	-
Target EBITDA	-	-
Investment Size	5	50
Enterprise Value	-	-
values in millions of USD

Transaction Criteria

Min

Max

Target Revenue

Target EBITDA

Investment Size

Enterprise Value

values in millions of USD

Year	≤ '20	'21	'22	'23	'24	'25	T
Buy (0.2/yr)	#	85	-	1	-	-	-	86
vol	$3.6B						$3.6B
Sell (0.2/yr)	#	45	-	1	-	-	-	46
vol	$8.2B		$250M				$8.4B
	132

Year

≤ '20

'21

'22

'23

'24

'25

Buy (0.2/yr)

vol

$3.6B

Sell (0.2/yr)

vol

$8.2B

$250M

$8.4B

132

Company	Date	Value	Type
Targus Group International, Inc.	2022-10-19	250M USD	Add-on Acquisition
Anaheim, California · www.targus.com
Magnate Worldwide	2022-01-03	-	Secondary Buyout
Portland, Oregon · www.magnateworldwide.com
ST Products LLC	2018-11-16	-	Add-on Acquisition
Duncansville, Pennsylvania · www.smalltubeproducts.com
FLEETWASH, Inc.	2018-10-02	-	Secondary Buyout
Fairfield, New Jersey · www.fleetwash.com
Jordan Health Services	2018-04-10	-	Merger
Addison, Texas · www.jhsi.com
Prince Mineral Co. Inc.	2018-03-29	-	Secondary Buyout
New York, New York · www.princecorp.com
CCPI, Inc.	2018-02-28	43M USD	Trade Sale - Public Company
Blanchester, Ohio
Hudson Products Corp.	2017-09-21	410M USD	Add-on Acquisition
Beasley, Texas · www.hudsonproducts.com
Arctic Glacier, Inc.	2017-03-20	-	Secondary Buyout
Winnipeg, Manitoba · www.arcticglacierinc.com
Empire Today LLC	2016-11-17	-	Secondary Buyout
Northlake, Illinois · www.empiretoday.com
View All >>

Company

Date

Value

Type

Targus Group International, Inc.

2022-10-19

250M USD

Add-on Acquisition

Anaheim, California · www.targus.com

Magnate Worldwide

2022-01-03

Secondary Buyout

Portland, Oregon · www.magnateworldwide.com

ST Products LLC

2018-11-16

Add-on Acquisition

Duncansville, Pennsylvania · www.smalltubeproducts.com

FLEETWASH, Inc.

2018-10-02

Secondary Buyout

Fairfield, New Jersey · www.fleetwash.com

Jordan Health Services

2018-04-10

Merger

Addison, Texas · www.jhsi.com

Prince Mineral Co. Inc.

2018-03-29

Secondary Buyout

New York, New York · www.princecorp.com

CCPI, Inc.

2018-02-28

43M USD

Trade Sale - Public Company

Blanchester, Ohio

Hudson Products Corp.

2017-09-21

410M USD

Add-on Acquisition

Beasley, Texas · www.hudsonproducts.com

Arctic Glacier, Inc.

2017-03-20

Secondary Buyout

Winnipeg, Manitoba · www.arcticglacierinc.com

Empire Today LLC

2016-11-17

Secondary Buyout

Northlake, Illinois · www.empiretoday.com

View All >>

Company	Acquired	Add-On/Sale	Date	#
Shearer's Foods, Inc.	2012-11-02	Lance Private Brands - Snyderâ€™s-Lance	2014-05-07	2
Massillon, Ohio · www.shearers.com	Burlington, Iowa
Shearer's Foods, Inc.	2012-11-02	Medallion Foods, Inc.	2014-04-17	1
Massillon, Ohio · www.shearers.com	Tacoma, Washington · www.medallionfoods.com

Company

Acquired

Add-On/Sale

Date

Shearer's Foods, Inc.

2012-11-02

Lance Private Brands - Snyderâ€™s-Lance

2014-05-07

Massillon, Ohio · www.shearers.com

Burlington, Iowa

Shearer's Foods, Inc.

2012-11-02

Medallion Foods, Inc.

2014-04-17

Massillon, Ohio · www.shearers.com

Tacoma, Washington · www.medallionfoods.com

Sector	Current #	Value	All-time #	Value
Energy Services and Equipment	2 (17%)	105M (16%)	12 (14%)	105M (3%)
Consumer Products	-	-	8 (9%)	-
Oil/Gas Exploration	1 (8%)	-	6 (7%)	-
Healthcare Services	1 (8%)	-	5 (6%)	-
Manufacturing	-	-	5 (6%)	-
Chemicals	-	-	4 (5%)	74M (2%)
Machinery	-	-	4 (5%)	-
Metals/Mining	1 (8%)	-	4 (5%)	-
Food	1 (8%)	500M (77%)	3 (3%)	500M (14%)
Business Services	1 (8%)	-	3 (3%)	89M (2%)
Transportation	1 (8%)	-	3 (3%)	-
Software	-	-	2 (2%)	1.4B (39%)
Internet Software and Services	-	-	2 (2%)	717M (20%)
Financial Services	1 (8%)	44M (7%)	2 (2%)	44M (1%)
Construction	1 (8%)	-	2 (2%)	-
Consumer Services	-	-	2 (2%)	-
Media	-	-	2 (2%)	-
Staffing	-	-	2 (2%)	-
Retail	-	-	1 (1%)	395M (11%)
Apparel/Textiles	-	-	1 (1%)	288M (8%)
Automotive	-	-	1 (1%)	-
Beverages	-	-	1 (1%)	-
Building Materials	-	-	1 (1%)	-
Distribution	-	-	1 (1%)	-
Education	-	-	1 (1%)	-
Electrical Equipment	-	-	1 (1%)	-
Franchising	1 (8%)	-	1 (1%)	-
Information Services	1 (8%)	-	1 (1%)	-
Insurance	-	-	1 (1%)	-
Life Science	-	-	1 (1%)	-
Medical Products	-	-	1 (1%)	-
Restaurants	-	-	1 (1%)	-
Test/Measurement Equipment	-	-	1 (1%)	-
Total	12	$649M	86	$3.6B

Sector

Current #

Value

All-time #

Value

Energy Services and Equipment

2 (17%)

105M (16%)

12 (14%)

105M (3%)

Consumer Products

8 (9%)

Oil/Gas Exploration

1 (8%)

6 (7%)

Healthcare Services

1 (8%)

5 (6%)

Manufacturing

5 (6%)

Chemicals

4 (5%)

74M (2%)

Machinery

4 (5%)

Metals/Mining

1 (8%)

4 (5%)

Food

1 (8%)

500M (77%)

3 (3%)

500M (14%)

Business Services

1 (8%)

3 (3%)

89M (2%)

Transportation

1 (8%)

3 (3%)

Software

2 (2%)

1.4B (39%)

Internet Software and Services

2 (2%)

717M (20%)

Financial Services

1 (8%)

44M (7%)

2 (2%)

44M (1%)

Construction

1 (8%)

2 (2%)

Consumer Services

2 (2%)

Media

2 (2%)

Staffing

2 (2%)

Retail

1 (1%)

395M (11%)

Apparel/Textiles

1 (1%)

288M (8%)

Automotive

1 (1%)

Beverages

1 (1%)

Building Materials

1 (1%)

Distribution

1 (1%)

Education

1 (1%)

Electrical Equipment

1 (1%)

Franchising

1 (8%)

1 (1%)

Information Services

1 (8%)

1 (1%)

Insurance

1 (1%)

Life Science

1 (1%)

Medical Products

1 (1%)

Restaurants

1 (1%)

Test/Measurement Equipment

1 (1%)

Total

$649M

$3.6B

State/Country	Current #	Value	All-time #	Value
United States	11 (92%)	649M (100%)	83 (97%)	3.6B (100%)
	Texas	-	-	14 (16%)	-
	Pennsylvania	1 (8%)	-	7 (8%)	395M (11%)
	Ohio	2 (17%)	500M (77%)	6 (7%)	788M (22%)
	California	-	-	6 (7%)	717M (20%)
	New York	-	-	5 (6%)	-
	Oklahoma	2 (17%)	105M (16%)	4 (5%)	105M (3%)
	Illinois	-	-	4 (5%)	-
	Utah	1 (8%)	-	3 (3%)	74M (2%)
	South Carolina	1 (8%)	44M (7%)	3 (3%)	44M (1%)
	Georgia	-	-	3 (3%)	-
	Massachusetts	-	-	3 (3%)	-
	Oregon	1 (8%)	-	2 (2%)	89M (2%)
	Louisiana	1 (8%)	-	2 (2%)	-
	Indiana	1 (8%)	-	2 (2%)	-
	Colorado	-	-	2 (2%)	1.4B (39%)
	Florida	-	-	2 (2%)	-
	Arizona	-	-	2 (2%)	-
	Michigan	-	-	2 (2%)	-
	Washington	1 (8%)	-	1 (1%)	-
	Alabama	-	-	1 (1%)	-
	Wisconsin	-	-	1 (1%)	-
	West Virginia	-	-	1 (1%)	-
	Tennessee	-	-	1 (1%)	-
	North Carolina	-	-	1 (1%)	-
	New Jersey	-	-	1 (1%)	-
	New Hampshire	-	-	1 (1%)	-
	Missouri	-	-	1 (1%)	-
	Minnesota	-	-	1 (1%)	-
	Kansas	-	-	1 (1%)	-
Canada	-	-	2 (2%)	-
	Manitoba	-	-	1 (1%)	-
	Alberta	-	-	1 (1%)	-
Puerto Rico	1 (8%)	-	1 (1%)	-
Domestic	11 (92%)	649M (100%)	83 (97%)	3.6B (100%)
Cross-border	1 (8%)	-	3 (3%)	-
Total	12	$649M	86	$3.6B

State/Country

Current #

Value

All-time #

Value

United States

11 (92%)

649M (100%)

83 (97%)

3.6B (100%)

Texas

14 (16%)

Pennsylvania

1 (8%)

7 (8%)

395M (11%)

Ohio

2 (17%)

500M (77%)

6 (7%)

788M (22%)

California

6 (7%)

717M (20%)

New York

5 (6%)

Oklahoma

2 (17%)

105M (16%)

4 (5%)

105M (3%)

Illinois

4 (5%)

Utah

1 (8%)

3 (3%)

74M (2%)

South Carolina

1 (8%)

44M (7%)

3 (3%)

44M (1%)

Georgia

3 (3%)

Massachusetts

3 (3%)

Oregon

1 (8%)

2 (2%)

89M (2%)

Louisiana

1 (8%)

2 (2%)

Indiana

1 (8%)

2 (2%)

Colorado

2 (2%)

1.4B (39%)

Florida

2 (2%)

Arizona

2 (2%)

Michigan

2 (2%)

Washington

1 (8%)

1 (1%)

Alabama

1 (1%)

Wisconsin

1 (1%)

West Virginia

1 (1%)

Tennessee

1 (1%)

North Carolina

1 (1%)

New Jersey

1 (1%)

New Hampshire

1 (1%)

Missouri

1 (1%)

Minnesota

1 (1%)

Kansas

1 (1%)

Canada

2 (2%)

Manitoba

1 (1%)

Alberta

1 (1%)

Puerto Rico

1 (8%)

1 (1%)

Domestic

11 (92%)

649M (100%)

83 (97%)

3.6B (100%)

Cross-border

1 (8%)

3 (3%)

Total

$649M

$3.6B

Type	Current #	Value	All-time #	Value
Buyout (LBO, MBO, MBI)	7 (58%)	44M (7%)	42 (49%)	118M (3%)
Secondary Buyout	4 (33%)	605M (93%)	20 (23%)	605M (17%)
Recapitalization	1 (8%)	-	8 (9%)	288M (8%)
Going Private	-	-	5 (6%)	2.5B (70%)
Stake Purchase	-	-	4 (5%)	-
Divestiture	-	-	2 (2%)	89M (2%)
Growth Capital	-	-	2 (2%)	-
Acquisition Financing	-	-	1 (1%)	-
Consolidation	-	-	1 (1%)	-
Special Situations/Distressed	-	-	1 (1%)	-
Total	12	$649M	86	$3.6B

Type

Current #

Value

All-time #

Value

Buyout (LBO, MBO, MBI)

7 (58%)

44M (7%)

42 (49%)

118M (3%)

Secondary Buyout

4 (33%)

605M (93%)

20 (23%)

605M (17%)

Recapitalization

1 (8%)

8 (9%)

288M (8%)

Going Private

5 (6%)

2.5B (70%)

Stake Purchase

4 (5%)

Divestiture

2 (2%)

89M (2%)

Growth Capital

2 (2%)

Acquisition Financing

1 (1%)

Consolidation

1 (1%)

Special Situations/Distressed

1 (1%)

Total

$649M

$3.6B

Type	Total #	Value
Secondary Sale	23 (50%)	500M (7%)
Trade Sale - Public Company	12 (26%)	6.7B (93%)
Trade Sale	7 (15%)	-
Bankruptcy	2 (4%)	-
IPO	1 (2%)	-
Merger	1 (2%)	-
Total	46	$7.2B

Type

Total #

Value

Secondary Sale

23 (50%)

500M (7%)

Trade Sale - Public Company

12 (26%)

6.7B (93%)

Trade Sale

7 (15%)

Bankruptcy

2 (4%)

IPO

1 (2%)

Merger

1 (2%)

Total

$7.2B

Financial	Deals
Morgan Stanley	1
Centerview Partners	1
Barclays Investment Bank	1

Financial

Deals

Morgan Stanley

Centerview Partners

Barclays Investment Bank

Legal	Deals
Mason Hayes & Curran	1
Ropes & Gray	1

Legal

Deals

Mason Hayes & Curran

Ropes & Gray

buy	#	Total
> $1B	1	$1.4B
$100M to $1B	5	$2.0B
< $100M	3	$207M
TOTAL	$3.6B
Largest	The TriZetto Group, Inc. $1.4B (2008-04-11)

buy

Total

> $1B

$1.4B

$100M to $1B

$2.0B

< $100M

$207M

TOTAL

$3.6B

Largest

The TriZetto Group, Inc.
$1.4B (2008-04-11)

sell	#	Total
> $1B	3	$5.1B
$100M to $1B	8	$3.2B
< $100M	2	$141M
TOTAL	$8.4B
Largest	The TriZetto Group, Inc. $2.7B (2014-09-15)

sell

Total

> $1B

$5.1B

$100M to $1B

$3.2B

< $100M

$141M

TOTAL

$8.4B

Largest

The TriZetto Group, Inc.
$2.7B (2014-09-15)

		Deals
Acquired from
Investor(s)	22%	19 (22%)
Strategic(s)	1%	1 (1%)
Exited to
Investor(s)	48%	22 (48%)
Strategic(s)	39%	18 (39%)

Deals

Acquired from

Investor(s)

19 (22%)

Strategic(s)

1 (1%)

Exited to

Investor(s)

22 (48%)

Strategic(s)

18 (39%)

Prospect Capital Management Mergers and Acquisitions Summary

Business Development Company Profile

M&A Summary