Summit Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Summit Partners has acquired 3 companies. It has also invested in 9 others.

Summit Partners’ most common sectors for investment aresoftware (19%) and internet software and services (12%) . The Firm’s most common investment types include growth capital (56%) and buyout (lbo, mbo, mbi) (22%). In total, Summit Partners has invested in 37 US states and 23 different countries. Its largest (disclosed) acquisition occurred in 2018 when it acquired FNZ Group for $2.5B.

In the last 3 years, Summit Partners has exited 6 companies. The Firm’s most common exit type is trade sale (45%). Summit Partners’ largest (disclosed) exit occurred in 2020 when it sold Infor Global Solutions for $13.0B.

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M&A Summary

  • M&A Total Activity656
    • M&A Buy Activity378
    • M&A Sell Activity278
  • Total Sectors Invested 43
  • Total Countries Invested 23
  • M&A Buy/Sell Connections 186
  • M&A Advisors 24

Summit Partners

222 Berkeley St, 18th Floor,
Boston, Massachusetts 02116
United States
(617) 824-1000
www.summitpartners.com

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Communications, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Electronics, Energy Services and Equipment, Engineering, Environmental, Financial Services, Franchising, Furniture, Gaming, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Life Science, Machinery, Manufacturing, Marine, Marketing, Medical Products, Publishing, Restaurants, Retail, Safety/Security, Semiconductors, Software, Staffing, Technology Hardware, Test/Measurement Equipment, Transportation, Utilities

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

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia, Asia/Pacific, Australia/New Zealand, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 10 500
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (5.2/yr) # 352 15 10 1 - - 378
vol $6.2B $6.2B
Sell (5.8/yr) # 249 23 3 3 - - 278
vol $36.3B $2.6B $38.8B
  656

Most Recent M&A

Company Date Value Type
Cinerius Financial Partners AG 2023-07-03 - Secondary Buyout
Zug, Switzerland · www.cinerius.com
Smartest Edu, Inc. 2023-06-27 - Add-on Acquisition
Santa Monica, California · www.formative.com
Elatec GmbH 2023-05-30 - Secondary Buyout
Puchheim, Germany · www.elatec-rfid.com
Doctrine 2023-04-11 - Growth Capital
Paris, France · www.doctrine.fr
Imagen 2022-12-19 - Venture
Tel Aviv, Israel · www.imagen-ai.com
Chronograph 2022-10-11 - Venture
Brooklyn, New York · www.chronograph.pe
LumaBridge LLC 2022-08-23 - Growth Capital
San Antonio, Texas · www.lumabridge.com
PriceLabs 2022-07-28 - Growth Capital
Chicago, Illinois · hello.pricelabs.co
TextExpander, Inc. 2022-07-21 - Growth Capital
San Francisco, California · www.textexpander.com
Halborn 2022-07-19 - Venture
Miami, Florida · www.halborn.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Trintech, Inc. 2018-01-03 Fiserv - Financial Reconciliation Business 2023-07-25 1
Plano, Texas · www.trintech.com Brookfield, Wisconsin
48forty Solutions LLC 2020-12-01 CALco Pallet Co. 2022-08-25 16
Alpharetta, Georgia · www.48forty.com Richmond, Illinois · www.usacalco.com
FNZ Group 2018-10-09 New Access SA 2022-07-20 4
London, United Kingdom · www.fnz.com Geneva, Switzerland · www.newaccess.ch
48forty Solutions LLC 2020-12-01 Girard Wood Products - Pallet Recycling Division 2022-06-06 15
Alpharetta, Georgia · www.48forty.com Puyallup, Washington
FNZ Group 2018-10-09 Appway AG 2021-12-07 3
London, United Kingdom · www.fnz.com Zurich, Switzerland · www.appway.com
48forty Solutions LLC 2020-12-01 BridgeStreet Worldwide - European and Asian Agency Business 2020-12-08 14
Alpharetta, Georgia · www.48forty.com , United Kingdom
Sifted, Inc. 2020-10-27 VeriShip, Inc. 2020-10-27 1
Kansas City, Missouri · www.sifted.com Kansas City, Missouri · www.veriship.com
Syndigo LLC 2018-10-25 Kwikee Products Co. LLC 2020-04-27 9
Chicago, Illinois · www.syndigo.com Peoria, Illinois · www.kwikee.com
FNZ Group 2018-10-09 Irish Progressive Services International Ltd. 2020-02-10 2
London, United Kingdom · www.fnz.com Dublin, Ireland · www.ipsi.ie
Syndigo LLC 2018-10-25 Sellpoints, Inc. 2019-08-12 8
Chicago, Illinois · www.syndigo.com Emeryville, California · www.sellpoints.com

M&A by Sector

Sector Current # Value All-time # Value
Software 18 (21%) - 69 (18%) -
Internet Software and Services 20 (24%) - 44 (12%) -
Healthcare Services 8 (9%) 2.2B (46%) 41 (11%) 3.2B (51%)
Information Technology 16 (19%) 2.5B (54%) 39 (10%) 2.5B (41%)
Business Services 3 (4%) - 24 (6%) -
Communications - - 16 (4%) 57M (1%)
Technology Hardware - - 16 (4%) -
Financial Services 3 (4%) - 14 (4%) -
Consumer Products 4 (5%) - 11 (3%) -
Life Science 2 (2%) - 10 (3%) -
Medical Products - - 10 (3%) -
Insurance 1 (1%) - 8 (2%) -
Semiconductors - - 7 (2%) -
E-Commerce 2 (2%) - 6 (2%) -
Education 1 (1%) - 5 (1%) -
Electronics - - 5 (1%) -
Distribution - - 4 (1%) -
Electrical Equipment 1 (1%) - 4 (1%) -
Retail 1 (1%) - 3 (1%) 55M (1%)
Automotive - - 3 (1%) -
Manufacturing - - 3 (1%) -
Marketing 1 (1%) - 3 (1%) -
Test/Measurement Equipment - - 3 (1%) -
Digital Media - - 2 (1%) 350M (6%)
Apparel/Textiles - - 2 (1%) -
Consumer Services - - 2 (1%) -
Energy Services and Equipment - - 2 (1%) -
Environmental - - 2 (1%) -
Gaming - - 2 (1%) -
Information Services 1 (1%) - 2 (1%) -
Machinery - - 2 (1%) -
Publishing - - 2 (1%) -
Safety/Security - - 2 (1%) -
Transportation 1 (1%) - 2 (1%) -
Beverages - - 1 (< 1%) -
Building Materials - - 1 (< 1%) -
Engineering - - 1 (< 1%) -
Franchising - - 1 (< 1%) -
Furniture - - 1 (< 1%) -
Leisure - - 1 (< 1%) -
Packaging 1 (1%) - 1 (< 1%) -
Restaurants 1 (1%) - 1 (< 1%) -
Staffing - - 1 (< 1%) -
Total 85 $4.7B 379 $6.2B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 59 (69%) 2.2B (46%) 314 (83%) 3.3B (53%)
  California 10 (12%) - 73 (19%) 55M (1%)
  Massachusetts 10 (12%) - 41 (11%) -
  Texas 8 (9%) - 26 (7%) -
  Florida 8 (9%) - 24 (6%) 907M (15%)
  New York 4 (5%) - 16 (4%) -
  Georgia 3 (4%) - 12 (3%) 155M (3%)
  Illinois 3 (4%) - 11 (3%) -
  New Jersey 1 (1%) - 11 (3%) -
  Minnesota - - 9 (2%) -
  Virginia - - 8 (2%) -
  Utah 3 (4%) - 6 (2%) -
  North Carolina 2 (2%) - 6 (2%) -
  Colorado 1 (1%) - 6 (2%) -
  Ohio - - 6 (2%) -
  Washington 1 (1%) 2.2B (46%) 5 (1%) 2.2B (35%)
  Missouri 1 (1%) - 5 (1%) -
  Pennsylvania - - 5 (1%) -
  Arizona 1 (1%) - 4 (1%) -
  Indiana - - 4 (1%) -
  Wisconsin - - 4 (1%) -
  Maryland - - 3 (1%) -
  Idaho - - 3 (1%) -
  Delaware - - 3 (1%) -
  Tennessee - - 3 (1%) -
  Nevada - - 3 (1%) -
  Iowa 1 (1%) - 2 (1%) -
  Connecticut 1 (1%) - 2 (1%) -
  Montana 1 (1%) - 2 (1%) -
  Michigan - - 2 (1%) -
  South Carolina - - 2 (1%) -
  Louisiana - - 1 (< 1%) -
  Kansas - - 1 (< 1%) -
  South Dakota - - 1 (< 1%) -
  Rhode Island - - 1 (< 1%) -
  Oregon - - 1 (< 1%) -
  Oklahoma - - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) -
United Kingdom 5 (6%) 2.5B (54%) 11 (3%) 2.5B (41%)
Germany 3 (4%) - 11 (3%) 350M (6%)
Canada 3 (4%) - 6 (2%) -
  Ontario 1 (1%) - 3 (1%) -
  British Columbia 1 (1%) - 1 (< 1%) -
  Alberta 1 (1%) - 1 (< 1%) -
  Quebec - - 1 (< 1%) -
France 3 (4%) - 5 (1%) -
Netherlands 1 (1%) - 5 (1%) -
Belgium 2 (2%) - 3 (1%) -
Israel 2 (2%) - 3 (1%) -
Denmark 1 (1%) - 3 (1%) -
Switzerland 1 (1%) - 3 (1%) -
Ireland 1 (1%) - 2 (1%) -
Singapore 1 (1%) - 2 (1%) -
Spain 1 (1%) - 1 (< 1%) -
Finland 1 (1%) - 1 (< 1%) -
Sweden 1 (1%) - 1 (< 1%) -
Italy - - 1 (< 1%) -
Australia - - 1 (< 1%) -
Brazil - - 1 (< 1%) -
Bulgaria - - 1 (< 1%) -
Czech Republic - - 1 (< 1%) -
Luxembourg - - 1 (< 1%) -
Russia - - 1 (< 1%) -
Vietnam - - 1 (< 1%) -
Domestic 59 (69%) 2.2B (46%) 314 (83%) 3.3B (53%)
Cross-border 26 (31%) 2.5B (54%) 65 (17%) 2.9B (47%)
Total 85 $4.7B 379 $6.2B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 42 (49%) - 212 (56%) -
Buyout (LBO, MBO, MBI) 14 (16%) - 81 (21%) 112M (2%)
Venture 17 (20%) - 34 (9%) -
Secondary Buyout 9 (11%) 2.5B (54%) 25 (7%) 2.9B (47%)
Recapitalization 1 (1%) - 13 (3%) 155M (3%)
Stake Purchase - - 7 (2%) -
Divestiture 1 (1%) 2.2B (46%) 2 (1%) 2.2B (35%)
Going Private - - 2 (1%) 850M (14%)
PIPE 1 (1%) - 2 (1%) -
Joint Venture - - 1 (< 1%) -
Total 85 $4.7B 379 $6.2B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 93 (33%) 17.0B (46%)
IPO 72 (26%) -
Secondary Sale 55 (20%) 1.9B (5%)
Trade Sale 37 (13%) 13.4B (36%)
Merger 5 (2%) 4.4B (12%)
Bankruptcy 4 (1%) -
Sold to Management 4 (1%) -
Recapitalization 3 (1%) -
Stake Sale 2 (1%) -
Divestiture 1 (< 1%) -
SPAC 1 (< 1%) -
Unknown 1 (< 1%) -
Total 278 $36.8B

Top M&A Advisors

Financial Deals
Jefferies
 2
Deutsche Bank Corporate & Investment Banking
 2
Mooreland Partners LLC
 1
Legal Deals
Kirkland & Ellis
 12
Weil Gotshal & Manges LLP
 7
Ropes & Gray
 3

Deal Values

buy # Total
> $1B 2 $4.7B
$100M to $1B 3 $1.4B
< $100M 2 $112M
TOTAL $6.2B
Largest FNZ Group
$2.5B (2018-10-09)
sell # Total
> $1B 9 $28.7B
$100M to $1B 36 $10.0B
< $100M 4 $163M
TOTAL $38.8B
Largest Infor Global Solutions, Inc.
$13.0B (2020-02-04)

M&A Connections

Deals
Acquired from
Investor(s)
8%
31 (8%)
Strategic(s)
1%
2 (1%)
Exited to
Investor(s)
21%
59 (21%)
Strategic(s)
47%
132 (47%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Mega

PE Assets

39.0B USD

Established

1984

Specialist/Generalist

Generalist

Leadership

E. Roe Stamps, IV

Co-founder & Former Managing Director

Gregory Avis

Co-founder & Former Managing Director

Stephen Woodsum

Co-founder & Former Managing Director

Peter Chung

Managing Director & CEO

Dayton Ogden

Head of Talent and Recruiting

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