The Blackstone Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, The Blackstone Group has acquired 7 companies. It has also invested in 5 others.

The Blackstone Group’s most common sectors for investment arecommunications (9%) and information technology (7%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (24%) and secondary buyout (22%). In total, The Blackstone Group has invested in 28 US states and 27 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B.

In the last 3 years, The Blackstone Group has exited 9 companies. The Firm’s most common exit type is trade sale (40%). The Blackstone Group’s largest (disclosed) exit occurred in 2019 when it sold Refinitiv for $27.0B.

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M&A Summary

  • M&A Total Activity475
    • M&A Buy Activity309
    • M&A Sell Activity166
  • Total Sectors Invested 55
  • Total Countries Invested 27
  • M&A Buy/Sell Connections 168
  • M&A Advisors 66

The Blackstone Group

Blackstone Inc.

345 Park Avenue,
New York, New York 10154-0191
United States
(212) 583-5000
www.blackstone.com

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


Investment Criteria

Sectors of Interest: Agriculture, Airlines, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Electrical Equipment, Electronics, Energy Services and Equipment, Environmental, Financial Services, Food, Franchising, Gaming, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Leisure, Life Science, Machinery, Manufacturing, Marine, Marketing, Media, Medical Products, Metals/Mining, Oil/Gas Exploration, Packaging, Publishing, Real Estate, Renewable Energy, Restaurants, Retail, Safety/Security, Semiconductors, Software, Staffing, Technology Hardware, Transportation, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed, PIPE, Secondary Buyout, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 -
Enterprise Value 250 -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (7.4/yr) # 272 25 10 2 - - 309
vol $370.4B $69.6B $26.8B $4.6B $471.4B
Sell (5.0/yr) # 144 16 7 2 - - 169
vol $149.5B $13.2B $6.3B $740M $169.8B
  478

Most Recent M&A

Company Date Value Type
New Tradition Media LLC 2023-06-12 - Buyout (LBO, MBO, MBI)
New York, New York · www.newtradition.com
MB Aerospace Holdings Ltd. 2023-06-05 740M USD Add-on Acquisition
Motherwell, United Kingdom · www.mbaerospace.co.uk
IBS Software Services Pvt. Ltd. 2023-05-15 - Stake Purchase
Trivandrum, India · www.ibsplc.com
Cvent, Inc. 2023-03-14 4.6B USD Going Private
Tysons, Virginia · www.cvent.com
R Systems International Ltd. 2022-11-17 - Stake Purchase
Noida, India · www.rsystems.com
Copeland LP 2022-10-31 14.0B USD Divestiture
St. Louis, Missouri · www.copeland.com
Tangerine Confectionery Ltd. 2022-08-22 154M GBP Trade Sale
Pontefract, United Kingdom · www.tangerineuk.net
Partners Life Ltd. 2022-08-12 - Add-on Acquisition
Auckland, New Zealand · www.partnerslife.co.nz
Xpansiv Ltd. 2022-07-06 - Growth Capital
San Francisco, California · www.xpansiv.com
Kensington Mortgage Co., Ltd. 2022-06-24 3.5B GBP Add-on Acquisition
Maidenhead, United Kingdom · www.kmc.co.uk
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Desotec N.V 2021-03-18 Evoqua - Carbon Reactivation and Exchange Services Business 2023-06-16 1
Roeselare, Belgium · www.desotec.com Pittsburgh, Pennsylvania
UKG, Inc. 2007-03-23 Immedis 2023-06-06 22
Lowell, Massachusetts · www.ukg.com Dublin, Ireland · www.immedis.com
Schenck Process Holding GmbH 2017-09-21 Schenck Process LLC 2023-05-24 2
Darmstadt, Germany · www.schenckprocess.com Kansas City, Missouri
Renaissance Learning, Inc. 2018-05-03 GL Education Group Ltd. 2023-02-21 5
Wisconsin Rapids, Wisconsin · www.renaissance.com Brentford, United Kingdom · www.gl-education.com
Incenter LLC 2016-02-10 Agents National Title Insurance Co. 2023-02-02 2
Fort Washington, Pennsylvania · www.incenterms.com Columbia, Missouri · www.agentstitle.com
Incenter LLC 2016-02-10 Boston National Title Agency LLC 2023-02-02 1
Fort Washington, Pennsylvania · www.incenterms.com Charlotte, North Carolina · www.bostonnationaltitle.com
Simplilearn Solutions Pvt. Ltd. 2021-07-19 Fullstack Academy, Inc. 2022-11-28 1
Bangalore , India · www.simplilearn.com New York, New York · www.fullstackacademy.com
Schenck Process Holding GmbH 2017-09-21 SP Mining 2022-05-09 1
Darmstadt, Germany · www.schenckprocess.com , Australia
Medline Industries, Inc. 2021-06-05 Asid Bonz GmbH 2022-04-04 1
Northfield, Illinois · www.medline.com Herrenberg, Germany · www.asid-bonz.de
UKG, Inc. 2007-03-23 Ascentis Corp. 2022-03-09 21
Lowell, Massachusetts · www.ukg.com Eden Prairie, Minnesota · www.ascentis.com

M&A by Sector

Sector Current # Value All-time # Value
Communications 2 (2%) - 25 (8%) 28.4B (6%)
Information Technology 7 (7%) 14.4B (10%) 21 (7%) 24.9B (5%)
Internet Software and Services 12 (11%) 7.0B (5%) 19 (6%) 21.3B (5%)
Leisure 4 (4%) 7.9B (6%) 16 (5%) 47.2B (10%)
Financial Services 8 (8%) 4.5B (3%) 16 (5%) 12.5B (3%)
Business Services 7 (7%) 14.0B (10%) 14 (5%) 15.4B (3%)
Media 2 (2%) 385M (< 1%) 14 (5%) 15.0B (3%)
Insurance 3 (3%) 5.6B (4%) 10 (3%) 8.2B (2%)
Real Estate 5 (5%) 21.2B (15%) 9 (3%) 29.3B (6%)
Chemicals 1 (1%) 1.1B (1%) 9 (3%) 14.8B (3%)
Energy Services and Equipment 3 (3%) 3.3B (2%) 9 (3%) 8.2B (2%)
Software 2 (2%) - 8 (3%) 12.2B (3%)
Life Science 4 (4%) - 8 (3%) 5.5B (1%)
Oil/Gas Exploration 1 (1%) - 8 (3%) 1.7B (< 1%)
Healthcare Services 2 (2%) - 6 (2%) 4.0B (1%)
Apparel/Textiles 1 (1%) 1.2B (1%) 6 (2%) 2.7B (1%)
Transportation 1 (1%) - 6 (2%) 1.1B (< 1%)
Consumer Products 3 (3%) - 6 (2%) 200M (< 1%)
Medical Products 2 (2%) 34.0B (24%) 5 (2%) 47.6B (10%)
Education 3 (3%) - 5 (2%) 1.7B (< 1%)
Environmental 2 (2%) - 5 (2%) 590M (< 1%)
Information Services 2 (2%) 6.0B (4%) 4 (1%) 38.7B (8%)
Utilities 1 (1%) 3.1B (2%) 4 (1%) 10.5B (2%)
Staffing 2 (2%) 6.1B (4%) 4 (1%) 7.3B (2%)
Retail - - 4 (1%) 6.4B (1%)
Food - - 4 (1%) 5.8B (1%)
Automotive 1 (1%) - 4 (1%) 5.6B (1%)
Packaging 1 (1%) - 4 (1%) 4.3B (1%)
Renewable Energy 2 (2%) - 4 (1%) 2.2B (< 1%)
Electrical Equipment 2 (2%) - 4 (1%) 1.2B (< 1%)
Building Materials 1 (1%) - 4 (1%) 780M (< 1%)
Restaurants - - 3 (1%) 7.3B (2%)
Manufacturing - - 3 (1%) 5.4B (1%)
Electronics 2 (2%) 5.0B (3%) 3 (1%) 5.0B (1%)
Distribution 2 (2%) 1.8B (1%) 3 (1%) 3.2B (1%)
Safety/Security 1 (1%) - 3 (1%) 2.8B (1%)
Metals/Mining - - 3 (1%) 1.8B (< 1%)
Marketing 2 (2%) - 3 (1%) 750M (< 1%)
Gaming 1 (1%) - 2 (1%) 30.7B (7%)
Aerospace 1 (1%) 4.7B (3%) 2 (1%) 4.7B (1%)
Construction 1 (1%) 1.6B (1%) 2 (1%) 1.6B (< 1%)
Digital Media 2 (2%) - 2 (1%) -
Engineering 2 (2%) - 2 (1%) -
Furniture 2 (2%) - 2 (1%) -
Machinery 1 (1%) - 2 (1%) -
Semiconductors - - 1 (< 1%) 17.6B (4%)
Publishing - - 1 (< 1%) 2.1B (< 1%)
Beverages - - 1 (< 1%) 2.0B (< 1%)
Consumer Services - - 1 (< 1%) 608M (< 1%)
Franchising - - 1 (< 1%) 454M (< 1%)
Marine - - 1 (< 1%) 177M (< 1%)
Agriculture - - 1 (< 1%) -
Airlines - - 1 (< 1%) -
E-Commerce 1 (1%) - 1 (< 1%) -
Forest Products 1 (1%) - 1 (< 1%) -
Total 106 $143.0B 310 $471.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 70 (66%) 133.8B (94%) 196 (63%) 397.6B (84%)
  Texas 11 (10%) 16.3B (11%) 32 (10%) 59.7B (13%)
  New York 7 (7%) 15.3B (11%) 21 (7%) 54.4B (12%)
  California 7 (7%) 1.6B (1%) 18 (6%) 16.0B (3%)
  Illinois 6 (6%) 44.4B (31%) 10 (3%) 53.7B (11%)
  Florida 4 (4%) - 10 (3%) 14.7B (3%)
  Massachusetts 6 (6%) 3.1B (2%) 8 (3%) 5.0B (1%)
  Tennessee 4 (4%) 9.1B (6%) 8 (3%) 11.2B (2%)
  New Jersey 1 (1%) - 8 (3%) 9.2B (2%)
  Colorado - - 7 (2%) 7.5B (2%)
  Maryland 3 (3%) - 6 (2%) 1.0B (< 1%)
  Virginia 2 (2%) 4.6B (3%) 6 (2%) 33.6B (7%)
  North Carolina 1 (1%) 6.0B (4%) 6 (2%) 15.1B (3%)
  Georgia 1 (1%) 1.2B (1%) 6 (2%) 6.7B (1%)
  Pennsylvania 2 (2%) 155M (< 1%) 5 (2%) 14.6B (3%)
  Ohio 2 (2%) - 4 (1%) -
  Michigan 1 (1%) - 4 (1%) 5.6B (1%)
  Connecticut - - 4 (1%) 2.1B (< 1%)
  Wisconsin 3 (3%) - 3 (1%) -
  Utah 2 (2%) 4.7B (3%) 3 (1%) 6.7B (1%)
  Indiana - - 3 (1%) 13.3B (3%)
  Kansas 2 (2%) 13.3B (9%) 2 (1%) 13.3B (3%)
  Nevada 1 (1%) - 2 (1%) 30.7B (7%)
  Iowa 1 (1%) - 2 (1%) -
  Arizona - - 2 (1%) -
  Missouri 1 (1%) 14.0B (10%) 1 (< 1%) 14.0B (3%)
  Washington 1 (1%) - 1 (< 1%) -
  Louisiana 1 (1%) - 1 (< 1%) -
United Kingdom 7 (7%) 5.8B (4%) 25 (8%) 28.2B (6%)
India 4 (4%) - 19 (6%) 796M (< 1%)
Germany 3 (3%) - 12 (4%) 9.7B (2%)
China 4 (4%) - 9 (3%) 641M (< 1%)
Canada 3 (3%) 385M (< 1%) 7 (2%) 794M (< 1%)
  Ontario 2 (2%) 385M (< 1%) 3 (1%) 385M (< 1%)
  Quebec - - 2 (1%) 200M (< 1%)
  British Columbia 1 (1%) - 1 (< 1%) -
  Alberta - - 1 (< 1%) 209M (< 1%)
Netherlands 3 (3%) 1.8B (1%) 5 (2%) 4.7B (1%)
Bermuda - - 5 (2%) 5.3B (1%)
France 3 (3%) - 4 (1%) -
Switzerland 1 (1%) 1.1B (1%) 3 (1%) 3.3B (1%)
Australia - - 3 (1%) 1.3B (< 1%)
Japan 1 (1%) - 2 (1%) -
Brazil - - 2 (1%) 800M (< 1%)
Mexico - - 2 (1%) 732M (< 1%)
Italy - - 2 (1%) 237M (< 1%)
New Zealand - - 2 (1%) 127M (< 1%)
Belgium 1 (1%) - 1 (< 1%) -
South Korea 1 (1%) - 1 (< 1%) -
Luxembourg 1 (1%) - 1 (< 1%) -
Malta 1 (1%) - 1 (< 1%) -
Singapore 1 (1%) - 1 (< 1%) -
Sweden 1 (1%) - 1 (< 1%) -
United Arab Emirates 1 (1%) - 1 (< 1%) -
Denmark - - 1 (< 1%) 15.8B (3%)
Spain - - 1 (< 1%) 1.3B (< 1%)
Argentina - - 1 (< 1%) -
Maldives - - 1 (< 1%) -
Domestic 70 (66%) 133.8B (94%) 196 (63%) 397.6B (84%)
Cross-border 36 (34%) 9.2B (6%) 113 (37%) 73.8B (16%)
Total 106 $143.0B 309 $471.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 15 (14%) 36.3B (25%) 74 (24%) 85.0B (19%)
Secondary Buyout 35 (33%) 14.8B (10%) 68 (22%) 44.6B (10%)
Stake Purchase 9 (8%) - 49 (16%) 23.8B (5%)
Divestiture 11 (10%) 29.7B (21%) 31 (10%) 89.8B (20%)
Growth Capital 16 (15%) - 31 (10%) -
Going Private 15 (14%) 62.2B (43%) 30 (10%) 186.5B (41%)
PIPE - - 12 (4%) 19.5B (4%)
Venture 1 (1%) - 6 (2%) 421M (< 1%)
Recapitalization 2 (2%) - 5 (2%) 2.1B (< 1%)
Special Situations/Distressed 2 (2%) - 3 (1%) 3.9B (1%)
Consolidation - - 1 (< 1%) 466M (< 1%)
Total 106 $143.0B 310 $456.1B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 44 (26%) 114.6B (68%)
IPO 39 (23%) -
Trade Sale 25 (15%) 25.4B (15%)
Secondary Sale 17 (10%) 4.5B (3%)
Stake Sale 15 (9%) -
Merger 8 (5%) 9.6B (6%)
Bankruptcy 6 (4%) -
Sold to Management 4 (2%) -
Divestiture 3 (2%) -
SPAC 3 (2%) -
Sold to Existing Investors 2 (1%) 14.6B (9%)
Unknown 2 (1%) -
Recapitalization 1 (1%) -
Total 169 $168.7B

Top M&A Advisors

Financial Deals
Bank of America Merrill Lynch (BofA Securities)
 22
Citigroup Investment Banking
 17
Barclays Investment Bank
 15
Legal Deals
Simpson Thacher & Bartlett
 57
Kirkland & Ellis
 13
Weil Gotshal & Manges LLP
 7

Deal Values

buy # Total
> $1B 86 $438.1B
$100M to $1B 69 $32.9B
< $100M 8 $367M
TOTAL $471.4B
Largest Medline Industries, Inc.
$34.0B (2021-06-05)
sell # Total
> $1B 40 $163.5B
$100M to $1B 12 $6.2B
< $100M 2 $92M
TOTAL $169.8B
Largest Refinitiv
$27.0B (2019-08-01)

M&A Connections

Deals
Acquired from
Investor(s)
23%
72 (23%)
Strategic(s)
10%
30 (10%)
Exited to
Investor(s)
12%
20 (12%)
Strategic(s)
49%
83 (49%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

131.0B USD

Established

1987

Specialist/Generalist

Generalist

Leadership

Stephen Schwarzman

Chairman, CEO & Co-Founder

Julie Flynn

Managing Director, Finance

Athena Cheng

Managing Director, Legal & Compliance

Jonathan Feiler

Managing Director, Legal & Compliance

Natacha Jamar

Managing Director, Private Equity

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