General Atlantic Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, General Atlantic has acquired 12 companies. It has also invested in 67 others.

General Atlantic’s most common sectors for investment areinternet software and services (22%) and information technology (13%) . The Firm’s most common investment types include growth capital (38%) and venture (30%). In total, General Atlantic has invested in 28 US states and 33 different countries. Its largest (disclosed) acquisition occurred in 2022 when it acquired Coupa Software for $8.0B.

In the last 3 years, General Atlantic has exited 25 companies. The Firm’s most common exit type is ipo (36%). General Atlantic’s largest (disclosed) exit occurred in 2017 when it sold AppDynamics for $3.7B.

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M&A Summary

  • M&A Total Activity476
    • M&A Buy Activity334
    • M&A Sell Activity142
  • Total Sectors Invested 34
  • Total Countries Invested 33
  • M&A Buy/Sell Connections 152
  • M&A Advisors 37

General Atlantic

General Atlantic Service Company, L.P.

Park Avenue Plaza 55 East, 32nd Street,
New York, New York 10055
United States
(212) 715-4000
www.generalatlantic.com
info@generalatlantic.com

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.


Investment Criteria

Sectors of Interest: Business Services, Communications, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Education, Electrical Equipment, Electronics, Energy Services and Equipment, Engineering, Financial Services, Gaming, Healthcare Services, Information Technology, Infrastructure, Insurance, Internet Software and Services, Leisure, Life Science, Manufacturing, Marketing, Media, Oil/Gas Exploration, Publishing, Retail, Safety/Security, Semiconductors, Software, Staffing, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization, Secondary Buyout

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 40 400
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (21.0/yr) # 229 26 47 22 7 3 334
vol $8.1B $8.0B $3.6B $1.7B $21.3B
Sell (7.6/yr) # 106 13 20 2 2 1 144
vol $27.4B $600M $2.1B $30.1B
  478

Most Recent M&A

Company Date Value Type
HireRight, Inc. 2024-02-16 1.7B USD Going Private
Nashville, Tennessee · www.hireright.com
Partners Capital LLP 2024-02-08 - Growth Capital
London, United Kingdom · www.partners-cap.com
Funda Real Estate B.V. 2024-02-06 - Growth Capital
Amsterdam, Netherlands · www.funda.nl
Capital Foods Pvt. Ltd. 2024-01-12 - Trade Sale
Mumbai, India · www.capitalfoods.co.in
Flint Group 2023-08-18 - Stake Purchase
Seattle, Washington · www.flintg.com
Flipp Corp. 2023-08-16 - Secondary Sale
Toronto, Ontario · www.flipp.com
Arco Platform Ltd. 2023-08-10 1.5B USD Going Private
Sao Paulo, Brazil · www.arcoeducacao.com.br
Venterra Group Plc 2023-08-01 - Growth Capital
London, United Kingdom · www.venterra-group.com
Kahoot! AS 2023-07-14 2.1B NOK Going Private
Oslo, Norway · www.kahoot.com
ATOSS Software AG 2023-06-15 - PIPE
Munich, Germany · www.atoss.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Visma Oy 2017-06-29 twoday 2022-06-16 3
Oslo, Norway · www.visma.com Copenhagen, Denmark · www.twoday.com
Howden Group Holdings Ltd. 2013-03-27 TigerRisk Partners LLC 2022-06-09 1
London, United Kingdom · www.howdengroupholdings.com Stamford, Connecticut · www.tigerrisk.com
Visma Oy 2017-06-29 Lyanthe BV 2022-03-10 42
Oslo, Norway · www.visma.com Echt, Netherlands · www.lyanthe.com
Visma Oy 2017-06-29 Onguard Holding 2020-02-20 41
Oslo, Norway · www.visma.com Amsterdam, Netherlands · www.onguard.com
Visma Oy 2017-06-29 VerzuimSignaal 2019-11-04 2
Oslo, Norway · www.visma.com Utrecht, Netherlands · www.verzuimsignaal.com
Visma Oy 2017-06-29 ProLøn A/S 2019-06-24 40
Oslo, Norway · www.visma.com Randers, Denmark · www.proloen.dk
Visma Oy 2017-06-29 Roxit BV 2019-02-11 39
Oslo, Norway · www.visma.com Zwolle, Netherlands · www.roxit.nl
Visma Oy 2017-06-29 Extenda Retail 2018-09-20 1
Oslo, Norway · www.visma.com Stockholm, Sweden · www.extendaretail.com
Visma Oy 2017-06-29 Raet BV 2018-07-06 38
Oslo, Norway · www.visma.com Amersfoort, Netherlands · www.vismaraet.nl
Visma Oy 2017-06-29 Admincontrol AG 2017-10-04 37
Oslo, Norway · www.visma.com Oslo, Norway · www.admincontrol.com

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 45 (25%) 10.1B (74%) 73 (22%) 10.1B (47%)
Information Technology 19 (11%) - 42 (13%) 265M (1%)
Financial Services 13 (7%) - 30 (9%) 1.6B (7%)
Software 17 (9%) - 25 (7%) -
Business Services 4 (2%) 1.7B (12%) 24 (7%) 2.7B (13%)
Healthcare Services 13 (7%) - 22 (7%) -
Life Science 11 (6%) - 19 (6%) -
E-Commerce 9 (5%) - 17 (5%) 43M (< 1%)
Retail 7 (4%) - 11 (3%) -
Education 5 (3%) 1.5B (11%) 6 (2%) 1.5B (7%)
Consumer Services 5 (3%) - 6 (2%) -
Insurance 2 (1%) 385M (3%) 5 (1%) 385M (2%)
Consumer Products 4 (2%) - 5 (1%) -
Information Services 1 (1%) - 4 (1%) 122M (1%)
Digital Media 2 (1%) - 4 (1%) -
Food 3 (2%) - 4 (1%) -
Marketing 1 (1%) - 4 (1%) -
Medical Products 3 (2%) - 4 (1%) -
Restaurants 2 (1%) - 4 (1%) -
Real Estate 2 (1%) - 3 (1%) 2.8B (13%)
Engineering - - 3 (1%) 1.7B (8%)
Apparel/Textiles 2 (1%) - 3 (1%) -
Transportation 2 (1%) - 3 (1%) -
Staffing - - 2 (1%) 200M (1%)
Environmental 2 (1%) - 2 (1%) -
Publishing 1 (1%) - 2 (1%) -
Renewable Energy 2 (1%) - 2 (1%) -
Aerospace 1 (1%) - 1 (< 1%) -
Agriculture 1 (1%) - 1 (< 1%) -
Energy Services and Equipment - - 1 (< 1%) -
Infrastructure - - 1 (< 1%) -
Leisure - - 1 (< 1%) -
Media - - 1 (< 1%) -
Technology Hardware - - 1 (< 1%) -
Total 179 $13.6B 336 $21.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 80 (45%) 9.7B (71%) 159 (47%) 16.0B (75%)
  California 24 (13%) 8.0B (59%) 44 (13%) 8.0B (37%)
  New York 12 (7%) - 22 (7%) 1.7B (8%)
  Massachusetts 11 (6%) - 17 (5%) -
  Texas 5 (3%) - 11 (3%) -
  Illinois 4 (2%) - 11 (3%) -
  Florida 4 (2%) - 6 (2%) -
  Connecticut - - 6 (2%) -
  Colorado 2 (1%) - 4 (1%) 200M (1%)
  South Carolina 1 (1%) - 4 (1%) -
  Pennsylvania 2 (1%) - 3 (1%) -
  Washington 2 (1%) - 3 (1%) -
  Tennessee 1 (1%) 1.7B (12%) 3 (1%) 1.7B (8%)
  Utah 2 (1%) - 2 (1%) -
  North Carolina 1 (1%) - 2 (1%) -
  Michigan 1 (1%) - 2 (1%) -
  Maryland 1 (1%) - 2 (1%) -
  Kansas 1 (1%) - 2 (1%) -
  Georgia 1 (1%) - 2 (1%) -
  Arizona 1 (1%) - 2 (1%) -
  Virginia - - 2 (1%) 1.7B (8%)
  New Jersey - - 2 (1%) -
  Vermont 1 (1%) - 1 (< 1%) -
  Ohio 1 (1%) - 1 (< 1%) -
  Minnesota 1 (1%) - 1 (< 1%) -
  Alabama 1 (1%) - 1 (< 1%) -
  Nebraska - - 1 (< 1%) 2.8B (13%)
  Arkansas - - 1 (< 1%) -
  West Virginia - - 1 (< 1%) -
China 13 (7%) - 29 (9%) -
India 13 (7%) - 23 (7%) -
United Kingdom 11 (6%) 385M (3%) 21 (6%) 864M (4%)
Germany 9 (5%) - 18 (5%) -
Brazil 9 (5%) 1.5B (11%) 17 (5%) 1.5B (7%)
France 7 (4%) - 7 (2%) -
Mexico 7 (4%) - 7 (2%) -
Netherlands 3 (2%) - 6 (2%) -
Canada 2 (1%) - 5 (1%) -
  Ontario - - 3 (1%) -
  Quebec 1 (1%) - 1 (< 1%) -
  Alberta 1 (1%) - 1 (< 1%) -
Israel 3 (2%) - 4 (1%) -
Spain 1 (1%) - 4 (1%) 15M (< 1%)
Singapore 1 (1%) - 4 (1%) -
Indonesia 3 (2%) - 3 (1%) -
Denmark 2 (1%) - 3 (1%) -
Australia 1 (1%) - 3 (1%) -
Norway 2 (1%) 2.1B (15%) 2 (1%) 2.1B (10%)
Colombia 1 (1%) - 2 (1%) -
Sweden 1 (1%) - 2 (1%) -
Turkey 1 (1%) - 2 (1%) -
United Arab Emirates 1 (1%) - 2 (1%) -
Uruguay 1 (1%) - 2 (1%) -
Cayman Islands 1 (1%) - 1 (< 1%) -
Czech Republic 1 (1%) - 1 (< 1%) -
Kenya 1 (1%) - 1 (< 1%) -
Nigeria 1 (1%) - 1 (< 1%) -
Philippines 1 (1%) - 1 (< 1%) -
Switzerland 1 (1%) - 1 (< 1%) -
Vietnam 1 (1%) - 1 (< 1%) -
Bermuda - - 1 (< 1%) 800M (4%)
South Africa - - 1 (< 1%) 53M (< 1%)
Russia - - 1 (< 1%) -
Slovenia - - 1 (< 1%) -
Total 179 $13.6B 336 $21.3B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 61 (34%) - 125 (37%) -
Venture 73 (41%) - 100 (30%) 58M (< 1%)
Stake Purchase 16 (9%) - 36 (11%) -
Secondary Buyout 9 (5%) 385M (3%) 23 (7%) 385M (2%)
Buyout (LBO, MBO, MBI) 4 (2%) - 17 (5%) 595M (3%)
PIPE 4 (2%) - 13 (4%) 1.4B (6%)
Going Private 5 (3%) 13.2B (97%) 7 (2%) 13.5B (63%)
Divestiture 1 (1%) - 5 (1%) 5.5B (26%)
Add-on Acquisition 4 (2%) - 5 (1%) -
Joint Venture 1 (1%) - 2 (1%) -
Acquisition Financing - - 1 (< 1%) -
Merger - - 1 (< 1%) -
Recapitalization 1 (1%) - 1 (< 1%) -
Total 179 $13.6B 336 $21.3B

Exits by Deal Type

Type Total # Value
IPO 51 (35%) 335M (1%)
Trade Sale - Public Company 31 (22%) 18.3B (64%)
Secondary Sale 24 (17%) 8.4B (29%)
Trade Sale 13 (9%) 1.5B (5%)
Stake Sale 11 (8%) -
Merger 6 (4%) -
Sold to Management 3 (2%) -
Bankruptcy 2 (1%) -
SPAC 2 (1%) -
Recapitalization 1 (1%) -
Total 144 $28.4B

Top M&A Advisors

Financial Deals
Goldman Sachs
 3
Financo
 2
Evercore Group
 1
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison
 26
Weil Gotshal & Manges LLP
 5
Freshfields
 2

Deal Values

buy # Total
> $1B 7 $19.0B
$100M to $1B 7 $2.2B
< $100M 3 $111M
TOTAL $21.3B
Largest Coupa Software, Inc.
$8.0B (2022-12-12)
sell # Total
> $1B 11 $23.0B
$100M to $1B 19 $7.1B
< $100M 2 $46M
TOTAL $30.1B
Largest AppDynamics, Inc.
$3.7B (2017-01-25)

M&A Connections

Deals
Acquired from
Investor(s)
8%
28 (8%)
Strategic(s)
3%
9 (3%)
Exited to
Investor(s)
22%
31 (22%)
Strategic(s)
35%
51 (35%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Mega

PE Assets

73.0B USD

Established

1980

Specialist/Generalist

Generalist

Leadership

William Ford

Chairman & CEO

Steven Denning

Chairman Emeritus

Gabriel Caillaux

Co-President & Managing Director, Head of EMEA

Martin Escobari

Co-President & Managing Director, Head of Latin America New York, São Paulo

Anton Levy

Co-President, Managing Director & Global Head of Technology

FAQ

When was General Atlantic founded?

General Atlantic was founded in 1980.

What type of investor is General Atlantic?

General Atlantic is a growth capital firm.

Where is General Atlantic headquartered?

General Atlantic is headquartered in New York, New York.

How much capital does General Atlantic have under management?

General Atlantic has 73.0B USD under management.

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