Berkshire Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Berkshire Partners has acquired 6 companies. It has also invested in 7 others.

Berkshire Partners’ most common sectors for investment areconsumer products (9%) and business services (8%) . The Firm’s most common investment types include recapitalization (24%) and growth capital (23%). In total, Berkshire Partners has invested in 29 US states and 8 different countries. Its largest (disclosed) acquisition occurred in 2013 when it acquired Lightower Fiber Networks for $2.0B.

In the last 3 years, Berkshire Partners has exited 4 companies. The Firm’s most common exit type is trade sale (34%). Berkshire Partners’ largest (disclosed) exit occurred in 2017 when it sold Lightower Fiber Networks for $7.1B.

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M&A Summary

  • M&A Total Activity157
    • M&A Buy Activity97
    • M&A Sell Activity60
  • Total Sectors Invested 35
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 56
  • M&A Advisors 23

Berkshire Partners

Berkshire Partners LLC

200 Clarendon Street, 35th floor,
Boston, Massachusetts 02116
United States
(617) 227-0050
www.berkshirepartners.com
press@berkshirepartners.com

Berkshire Partners is a private equity firm focused on investing in businesses with strong management and that lead their respective markets. Berkshire will consider investments in both public and private companies. Prospective transactions for private companies include leveraged buyouts, recapitalizations, growth capital financings, and privatizations. Public company transactions include take-privates, PIPEs, and equity stakes. Berkshire generally looks to invest $150 to $500 million of equity capital per transaction in companies valued up to $2 billion. Sectors of interest include industrial manufacturing, consumer products, retailing, transportation, communications and business services. Berkshire Partners was formed in 1984 and is based in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Aerospace, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Communications, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Energy Services and Equipment, Engineering, Environmental, Financial Services, Food, Healthcare Services, Information Technology, Infrastructure, Life Science, Machinery, Manufacturing, Marine, Marketing, Media, Medical Products, Packaging, Plastics, Restaurants, Retail, Safety/Security, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), 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, Nordic

Transaction Criteria Min Max
Target Revenue 100 -
Target EBITDA 25 -
Investment Size 150 500
Enterprise Value 200 2,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (3.6/yr) # 79 5 9 2 2 - 97
vol $4.2B $4.2B
Sell (1.0/yr) # 55 1 2 1 1 - 60
vol $25.5B $25.5B
  157

Most Recent M&A

Company Date Value Type
Thompson Safety 2023-04-25 - Growth Capital
Houston, Texas · www.thompson-safety.com
Mielle Organics LLC 2023-01-12 - Trade Sale
Merrillville, Indiana · www.mielleorganics.com
Tract 2023-01-01 - Growth Capital
Denver, Colorado · www.tract.com
MedOne 2022-07-18 - Growth Capital
Hod Hasharon, Israel · www.medone.co.il
Ensemble Health Partners 2022-03-28 - Growth Capital
Blue Ash, Ohio · www.ensemblehp.com
Teraco Data Environments Pty Ltd. 2022-01-03 - Stake Sale
Johannesburg, South Africa · www.teraco.co.za
Harvey Performance Co. LLC 2021-11-03 - Secondary Buyout
Rowley, Massachusetts · www.harveyperformance.com
The Portillo Restaurant Group, Inc. 2021-10-20 - IPO
Oak Brook, Illinois · www.portillos.com
Fast Growing Trees LLC 2021-09-13 - Secondary Buyout
Fort Mill, South Carolina · www.fast-growing-trees.com
Masergy Communications, Inc. 2021-08-25 - Trade Sale
Plano, Texas · www.masergy.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
AHEAD LLC 2020-09-02 Computer Design & Integration LLC 2024-02-01 6
Chicago, Illinois · www.ahead.com New York, New York · www.cdillc.com
Parts Town LLC 2016-06-30 Encompass Supply Chain Solutions, Inc. 2022-04-05 6
Addison, Illinois · www.partstown.com Lawrenceville, Georgia · www.encompass.com
3Phase Elevator Corp. 2021-06-03 Specialized Elevator Services 2022-01-21 1
Canton, Massachusetts · www.3phaseelevator.com Santa Fe Springs, California · www.specializedelevator.com
Parts Town LLC 2016-06-30 REPA Holding GmbH 2022-01-19 5
Addison, Illinois · www.partstown.com Bergkirchen, Germany · www.repagroup.com
National Carwash Solutions 2021-01-05 Zep Vehicle Care 2021-09-27 3
Grimes, Iowa · www.ncswash.com Eagan, Minnesota · www.zepvehiclecare.com
Access Information Management Shared Services LLC 2014-10-21 ImageFreeway, Inc. - Records Storage Business 2020-06-03 45
Woburn, Massachusetts · www.accesscorp.com , Georgia
Access Information Management Shared Services LLC 2014-10-21 EDM Americas 2020-01-29 44
Woburn, Massachusetts · www.accesscorp.com Moosic, Pennsylvania
Accela, Inc. 2017-09-29 Springbrook Software, Inc. 2020-01-07 1
San Ramon, California · www.accela.com Portland, Oregon · www.springbrooksoftware.com
Access Information Management Shared Services LLC 2014-10-21 The Rover Group - Record Storage Division 2019-05-23 43
Woburn, Massachusetts · www.accesscorp.com Washington, District of Columbia
Access Information Management Shared Services LLC 2014-10-21 TAB Products Co. LLC - Records Storage Division 2019-05-23 42
Woburn, Massachusetts · www.accesscorp.com Mayville, Wisconsin

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products - - 8 (8%) 1.1B (23%)
Communications 3 (9%) - 7 (7%) 2.0B (43%)
Business Services 3 (9%) - 7 (7%) -
Retail 1 (3%) - 7 (7%) -
Information Technology 3 (9%) - 6 (6%) -
Manufacturing - - 5 (5%) 276M (6%)
Distribution 1 (3%) - 4 (4%) 700M (15%)
Apparel/Textiles 1 (3%) - 4 (4%) 450M (10%)
Consumer Services 2 (6%) - 3 (3%) -
Food 2 (6%) - 3 (3%) -
Healthcare Services 3 (9%) - 3 (3%) -
Internet Software and Services 2 (6%) - 3 (3%) -
Machinery 1 (3%) - 3 (3%) -
Software 3 (9%) - 3 (3%) -
Transportation - - 3 (3%) -
Marketing - - 2 (2%) 150M (3%)
Aerospace 1 (3%) - 2 (2%) -
Building Materials - - 2 (2%) -
Environmental - - 2 (2%) -
Life Science 1 (3%) - 2 (2%) -
Marine - - 2 (2%) -
Medical Products 1 (3%) - 2 (2%) -
Safety/Security 1 (3%) - 2 (2%) -
Test/Measurement Equipment 1 (3%) - 2 (2%) -
Automotive - - 1 (1%) -
Construction 1 (3%) - 1 (1%) -
E-Commerce 1 (3%) - 1 (1%) -
Education 1 (3%) - 1 (1%) -
Energy Services and Equipment - - 1 (1%) -
Engineering - - 1 (1%) -
Financial Services - - 1 (1%) -
Information Services - - 1 (1%) -
Infrastructure - - 1 (1%) -
Media - - 1 (1%) -
Restaurants - - 1 (1%) -
Total 33 - 98 $4.7B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 30 (91%) - 87 (89%) 4.7B (100%)
  Massachusetts 7 (21%) - 16 (16%) 2.0B (43%)
  Texas 5 (15%) - 11 (11%) -
  California 2 (6%) - 10 (10%) 720M (15%)
  Illinois 2 (6%) - 5 (5%) 276M (6%)
  New York 1 (3%) - 5 (5%) 360M (8%)
  North Carolina 2 (6%) - 4 (4%) 700M (15%)
  Florida - - 4 (4%) 150M (3%)
  Iowa 3 (9%) - 3 (3%) -
  Ohio 2 (6%) - 3 (3%) -
  Georgia 1 (3%) - 3 (3%) 450M (10%)
  Connecticut - - 3 (3%) -
  Arizona 1 (3%) - 2 (2%) -
  Utah 1 (3%) - 1 (1%) -
  South Carolina 1 (3%) - 1 (1%) -
  Maryland 1 (3%) - 1 (1%) -
  Colorado 1 (3%) - 1 (1%) -
  Washington - - 1 (1%) -
  Virginia - - 1 (1%) -
  Vermont - - 1 (1%) -
  Tennessee - - 1 (1%) -
  Pennsylvania - - 1 (1%) -
  New Jersey - - 1 (1%) -
  New Hampshire - - 1 (1%) -
  Missouri - - 1 (1%) -
  Minnesota - - 1 (1%) -
  Michigan - - 1 (1%) -
  Kansas - - 1 (1%) -
  Indiana - - 1 (1%) -
United Kingdom 1 (3%) - 3 (3%) -
Canada - - 3 (3%) -
  Ontario - - 2 (2%) -
  British Columbia - - 1 (1%) -
Indonesia 1 (3%) - 1 (1%) -
Israel 1 (3%) - 1 (1%) -
Colombia - - 1 (1%) -
New Zealand - - 1 (1%) -
South Africa - - 1 (1%) -
Domestic 30 (91%) - 87 (89%) 4.7B (100%)
Cross-border 3 (9%) - 11 (11%) -
Total 33 - 98 $4.7B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Recapitalization 5 (15%) - 23 (23%) 2.7B (58%)
Growth Capital 11 (33%) - 22 (22%) -
Secondary Buyout 10 (30%) - 20 (20%) 1.2B (25%)
Stake Purchase 2 (6%) - 10 (10%) -
Buyout (LBO, MBO, MBI) 2 (6%) - 8 (8%) 150M (3%)
Divestiture - - 5 (5%) -
Going Private - - 4 (4%) 636M (14%)
PIPE 1 (3%) - 3 (3%) -
Consolidation 1 (3%) - 2 (2%) -
Add-on Acquisition 1 (3%) - 1 (1%) -
Total 33 - 98 $4.7B

Exits by Deal Type

Type Total # Value
Secondary Sale 17 (28%) 11.4B (45%)
Trade Sale - Public Company 14 (23%) 12.9B (50%)
Trade Sale 9 (15%) 820M (3%)
IPO 9 (15%) -
Recapitalization 4 (7%) 480M (2%)
Bankruptcy 3 (5%) -
Sold to Management 2 (3%) -
Stake Sale 1 (2%) -
Unknown 1 (2%) -
Total 60 $25.5B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
 4
Robert W. Baird & Co., Inc.
 3
Deutsche Bank Corporate & Investment Banking
 3
Legal Deals
Ropes & Gray
 15
Weil Gotshal & Manges LLP
 12
Paul, Weiss, Rifkind, Wharton & Garrison
 3

Deal Values

buy # Total
> $1B 1 $2.0B
$100M to $1B 7 $2.7B
TOTAL $4.7B
Largest Lightower Fiber Networks LLC
$2.0B (2013-04-11)
sell # Total
> $1B 6 $19.8B
$100M to $1B 10 $5.7B
TOTAL $25.5B
Largest Lightower Fiber Networks LLC
$7.1B (2017-07-18)

M&A Connections

Deals
Acquired from
Investor(s)
30%
29 (30%)
Strategic(s)
4%
4 (4%)
Exited to
Investor(s)
30%
18 (30%)
Strategic(s)
35%
21 (35%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

16.0B USD

Established

1984

Specialist/Generalist

Generalist

Leadership

Joshua Lutzker

Managing Director

Anil Seetharam

Managing Director

Ben Levy

Managing Director

Beth Hoffman

Managing Director

Blake Gottesman

Managing Director

FAQ

When was Berkshire Partners founded?

Berkshire Partners was founded in 1984.

What type of investor is Berkshire Partners?

Berkshire Partners is a private equity firm.

Where is Berkshire Partners headquartered?

Berkshire Partners is headquartered in Boston, Massachusetts.

How much capital does Berkshire Partners have under management?

Berkshire Partners has 16.0B USD under management.

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