TA Associates Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, TA Associates has acquired 23 companies. It has also invested in 25 others.

TA Associates’ most common sectors for investment aresoftware (24%) and financial services (15%) . The Firm’s most common investment types include growth capital (37%) and buyout (lbo, mbo, mbi) (20%). In total, TA Associates has invested in 38 US states and 28 different countries. Its largest (disclosed) acquisition occurred in 2022 when it acquired Veracode for $2.5B.

In the last 3 years, TA Associates has exited 24 companies. The Firm’s most common exit type is trade sale (52%). TA Associates’ largest (disclosed) exit occurred in 2015 when it sold First Eagle Investment Management for $4.0B.

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M&A Summary

  • M&A Total Activity610
    • M&A Buy Activity358
    • M&A Sell Activity252
  • Total Sectors Invested 36
  • Total Countries Invested 28
  • M&A Buy/Sell Connections 205
  • M&A Advisors 66

TA Associates

TA Associates Management, LP

200 Clarendon Street 56th Floor,
Boston, Massachusetts 02116
United States
(617) 574-6700
www.ta.com

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Distribution, Education, Electronics, Energy Services and Equipment, Engineering, Environmental, Financial Services, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Life Science, Manufacturing, Marketing, Media, Medical Products, Metals/Mining, Packaging, Retail, Safety/Security, Semiconductors, Software, Technology Hardware, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization, Acquisition Financing, Stake Purchase, Add-on Acquisition, Joint Venture

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 70 500
Enterprise Value 100 3,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (12.6/yr) # 295 15 23 15 6 4 358
vol $5.8B $1.6B $2.0B $2.5B $11.9B
Sell (6.2/yr) # 221 7 16 5 2 1 252
vol $37.9B $2.9B $4.1B $1.8B $46.6B
  610

Most Recent M&A

Company Date Value Type
PowerGEM 2024-03-13 - Growth Capital
Clifton Park, New York · www.power-gem.com
AGA Financial Group, Inc. 2024-03-05 - Secondary Buyout
Westmount , Quebec · www.aga.ca
Agilio Software 2024-02-19 - Secondary Buyout
Sheffield, United Kingdom · www.codeuk.com
Procare Software LLC 2024-01-25 1.8B USD Trade Sale
Denver, Colorado · www.procaresoftware.com
Rocscience, Inc. 2024-01-08 - Growth Capital
Toronto, Ontario · www.rocscience.com
Katrisk LLC 2023-11-03 - Growth Capital
Berkeley, California · www.katrisk.com
Valoria Capital 2023-09-01 - Stake Purchase
Paris, France · www.valoriacapital.fr
ePassi Payments Oy 2023-08-09 - Secondary Buyout
Espoo, Finland · www.epassi.fi
Indira IVF Hospital Pvt. Ltd. 2023-07-28 - Secondary Sale
Udaipur, India · www.indiraivf.com
Towne Park Ltd. 2023-07-05 - Secondary Sale
Annapolis, Maryland · www.townepark.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Aptean, Inc. 2012-08-07 Momentis 2024-02-14 46
Atlanta, Georgia · www.aptean.com Montreal, Quebec · www.momentis.com
Riskonnect, Inc. 2017-06-07 Ventiv Technology, Inc. 2024-01-11 7
Kennesaw, Georgia · www.riskonnect.com Atlanta, Georgia · www.ventivtech.com
ePassi Payments Oy 2023-08-09 Exercite 2023-12-12 1
Espoo, Finland · www.epassi.fi Bremen, Germany · www.exercite.de
Netsmart Technologies, Inc. 2016-03-23 Netalytics 2023-10-05 10
Overland Park, Kansas · www.ntst.com Greer, South Carolina · www.netalytics.com
Apex Fund Services Ltd. 2017-05-09 Efficient Group 2023-03-15 10
Hamilton, Bermuda · www.theapexgroup.com Pretoria, South Africa · www.efgroup.co.za
Professional Datasolutions, Inc. 2016-05-24 Blue Cow Software LLC 2023-02-15 25
Alpharetta, Georgia · www.pdisoftware.com Middleton, Massachusetts · www.bluecowsoftware.com
Aptean, Inc. 2012-08-07 Groupe Mistral 2022-12-01 45
Atlanta, Georgia · www.aptean.com Clermont-Ferrand, France · www.mistral.fr
iCIMS, Inc. 2018-08-15 SkillSurvey, Inc. 2022-10-26 4
Holmdel, New Jersey · www.icims.com Berwyn, Pennsylvania · www.skillsurvey.com
Aptean, Inc. 2012-08-07 Merlin Business Software Ltd. 2022-10-24 44
Atlanta, Georgia · www.aptean.com Chesterfield, United Kingdom · www.merlinbusinesssoftware.com
Lumivero LLC 2022-10-04 Palisade Corp. 2022-10-13 4
Denver, Colorado · www.lumivero.com Ithaca, New York · www.palisade.com

M&A by Sector

Sector Current # Value All-time # Value
Software 37 (32%) 1.6B (22%) 84 (23%) 1.8B (15%)
Financial Services 17 (15%) 1.2B (16%) 51 (14%) 1.9B (16%)
Information Technology 13 (11%) 2.5B (34%) 36 (10%) 2.9B (24%)
Healthcare Services 4 (3%) - 25 (7%) 320M (3%)
Internet Software and Services 10 (9%) 2.1B (29%) 24 (7%) 2.1B (18%)
Communications 1 (1%) - 15 (4%) 1.1B (10%)
Business Services 3 (3%) - 13 (4%) 35M (< 1%)
Insurance 7 (6%) - 11 (3%) -
Life Science 3 (3%) - 11 (3%) -
Medical Products 3 (3%) - 10 (3%) 470M (4%)
Consumer Products 4 (3%) - 9 (3%) 350M (3%)
Education 2 (2%) - 7 (2%) -
Retail - - 6 (2%) 216M (2%)
Marketing - - 6 (2%) 68M (1%)
Technology Hardware - - 6 (2%) -
Apparel/Textiles - - 5 (1%) -
Manufacturing 2 (2%) - 5 (1%) -
Digital Media 1 (1%) - 4 (1%) 350M (3%)
Food 2 (2%) - 4 (1%) -
Information Services 2 (2%) - 4 (1%) -
Distribution - - 2 (1%) 103M (1%)
Beverages 2 (2%) - 2 (1%) -
Consumer Services 1 (1%) - 2 (1%) -
E-Commerce 1 (1%) - 2 (1%) -
Electronics - - 2 (1%) -
Media - - 2 (1%) -
Real Estate 1 (1%) - 2 (1%) -
Automotive - - 1 (< 1%) -
Chemicals - - 1 (< 1%) -
Construction - - 1 (< 1%) -
Electrical Equipment - - 1 (< 1%) -
Energy Services and Equipment - - 1 (< 1%) -
Machinery - - 1 (< 1%) -
Semiconductors - - 1 (< 1%) -
Test/Measurement Equipment - - 1 (< 1%) -
Transportation - - 1 (< 1%) -
Total 116 $7.4B 359 $11.7B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 65 (56%) 5.4B (73%) 261 (73%) 7.6B (64%)
  California 9 (8%) - 36 (10%) 138M (1%)
  Texas 7 (6%) 1.6B (22%) 27 (8%) 2.0B (17%)
  Massachusetts 4 (3%) 2.5B (34%) 25 (7%) 2.7B (23%)
  New York 6 (5%) - 23 (6%) -
  Florida 5 (4%) - 16 (4%) 315M (3%)
  Illinois 3 (3%) - 13 (4%) 145M (1%)
  Pennsylvania 2 (2%) - 12 (3%) -
  Washington 4 (3%) 1.2B (16%) 11 (3%) 1.2B (10%)
  Colorado 1 (1%) - 11 (3%) -
  New Jersey 3 (3%) - 8 (2%) 700M (6%)
  Connecticut 1 (1%) - 8 (2%) -
  Virginia - - 8 (2%) -
  Georgia 3 (3%) - 7 (2%) -
  Utah 4 (3%) - 6 (2%) -
  North Carolina 3 (3%) - 6 (2%) -
  Maryland - - 5 (1%) -
  Minnesota 3 (3%) - 4 (1%) -
  Tennessee 1 (1%) - 4 (1%) -
  Ohio - - 4 (1%) -
  Nebraska 1 (1%) - 3 (1%) -
  Oregon 1 (1%) 140M (2%) 2 (1%) 140M (1%)
  Missouri 1 (1%) - 2 (1%) -
  Kansas 1 (1%) - 2 (1%) -
  Mississippi - - 2 (1%) -
  Michigan - - 2 (1%) -
  Maine 1 (1%) - 1 (< 1%) -
  Arizona 1 (1%) - 1 (< 1%) -
  Kentucky - - 1 (< 1%) 350M (3%)
  South Dakota - - 1 (< 1%) -
  South Carolina - - 1 (< 1%) -
  North Dakota - - 1 (< 1%) -
  Iowa - - 1 (< 1%) -
  District of Columbia - - 1 (< 1%) -
  Arkansas - - 1 (< 1%) -
  Alaska - - 1 (< 1%) -
  Alabama - - 1 (< 1%) -
  Wisconsin - - 1 (< 1%) -
United Kingdom 5 (4%) - 16 (4%) 403M (3%)
India 7 (6%) - 15 (4%) -
France 7 (6%) - 11 (3%) -
Canada 4 (3%) - 9 (3%) -
  Quebec 2 (2%) - 4 (1%) -
  Ontario 1 (1%) - 4 (1%) -
  British Columbia 1 (1%) - 1 (< 1%) -
Germany 3 (3%) - 8 (2%) 418M (4%)
Sweden 4 (3%) - 6 (2%) -
Italy 3 (3%) - 5 (1%) 1.1B (9%)
Australia 3 (3%) - 3 (1%) -
Spain 1 (1%) - 3 (1%) 172M (1%)
Israel 1 (1%) - 3 (1%) 150M (1%)
Netherlands 1 (1%) 2.0B (27%) 2 (1%) 2.0B (17%)
China 1 (1%) - 2 (1%) -
Bermuda 1 (1%) - 1 (< 1%) -
Bulgaria 1 (1%) - 1 (< 1%) -
Finland 1 (1%) - 1 (< 1%) -
Hungary 1 (1%) - 1 (< 1%) -
New Zealand 1 (1%) - 1 (< 1%) -
Nigeria 1 (1%) - 1 (< 1%) -
Norway 1 (1%) - 1 (< 1%) -
Singapore 1 (1%) - 1 (< 1%) -
Switzerland 1 (1%) - 1 (< 1%) -
Taiwan 1 (1%) - 1 (< 1%) -
Vietnam 1 (1%) - 1 (< 1%) -
Austria - - 1 (< 1%) -
Belgium - - 1 (< 1%) -
Czech Republic - - 1 (< 1%) -
Ireland - - 1 (< 1%) -
Domestic 65 (56%) 5.4B (73%) 261 (73%) 7.6B (64%)
Cross-border 51 (44%) 2.0B (27%) 98 (27%) 4.3B (36%)
Total 116 $7.4B 359 $11.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 35 (30%) - 131 (36%) -
Buyout (LBO, MBO, MBI) 7 (6%) - 71 (20%) 2.7B (23%)
Secondary Buyout 40 (34%) 6.1B (83%) 66 (18%) 7.2B (61%)
Stake Purchase 16 (14%) - 39 (11%) 350M (3%)
Recapitalization 2 (2%) - 17 (5%) 103M (1%)
Venture 2 (2%) - 10 (3%) -
Divestiture 6 (5%) 1.2B (16%) 9 (3%) 1.4B (11%)
Consolidation 4 (3%) - 6 (2%) -
Going Private 3 (3%) 140M (2%) 4 (1%) 140M (1%)
PIPE - - 4 (1%) -
Joint Venture 1 (1%) - 1 (< 1%) -
Merger - - 1 (< 1%) -
Total 116 $7.4B 359 $11.9B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 79 (31%) 27.5B (59%)
Trade Sale 57 (23%) 5.0B (11%)
Secondary Sale 45 (18%) 13.1B (28%)
IPO 43 (17%) -
Merger 15 (6%) 975M (2%)
Stake Sale 4 (2%) -
Unknown 3 (1%) -
Shut Down 2 (1%) -
Sold to Management 2 (1%) -
Bankruptcy 1 (< 1%) -
Recapitalization 1 (< 1%) -
Total 252 $46.6B

Top M&A Advisors

Financial Deals
KPMG Corporate Finance LLC
 5
Deloitte
 4
Alvarez & Marsal
 4
Legal Deals
Goodwin Procter
 93
Kirkland & Ellis
 15
Latham & Watkins
 9

Deal Values

buy # Total
> $1B 5 $8.4B
$100M to $1B 15 $3.4B
< $100M 2 $103M
TOTAL $11.9B
Largest Veracode, Inc.
$2.5B (2022-03-15)
sell # Total
> $1B 12 $28.5B
$100M to $1B 47 $17.8B
< $100M 7 $309M
TOTAL $46.6B
Largest First Eagle Investment Management LLC
$4.0B (2015-07-20)

M&A Connections

Deals
Acquired from
Investor(s)
22%
79 (22%)
Strategic(s)
3%
9 (3%)
Exited to
Investor(s)
19%
48 (19%)
Strategic(s)
54%
136 (54%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

65.0B USD

Established

1968

Specialist/Generalist

Generalist

Leadership

Ajit Nedungadi

CEO

Brian Conway

Chairman

Melanie R. Toomey

CFO, Management Company

Aditya Sharma

Managing Director

Ashutosh Agrawal

Managing Director

FAQ

When was TA Associates founded?

TA Associates was founded in 1968.

What type of investor is TA Associates?

TA Associates is a private equity firm.

Where is TA Associates headquartered?

TA Associates is headquartered in Boston, Massachusetts.

How much capital does TA Associates have under management?

TA Associates has 65.0B USD under management.

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