I am looking to partner with people to acquire $3+ million EBITDA companies. We looked at 72 private deals by private companies 4q2020 in this report.
We are happy to share our research with possible co-investors and executives that have worked at prior company to develop a Management Buy-Out / Leverage Buy-Out strategy.
This report is still in beta testing as we attempt to provide data and research with the goal of accredited investors networking with members of the RHC family of funds for sharing deal flow and co-investing. Contact JD Morris for introduction to RHC funds and their limited partners via LinkedIn. URL: https://www.linkedin.com/in/admin4jdm/
SUMMARY: SUMMARY: Our research from Pitchbook shows 203 companies did 203 deals with 210 investors resulting already in 2021 over 150 exits (162 as of today) with $26.55 capital invested. Again, we are happy to share our research and deal flow with accredited investors. #mergers#mergersandacquistions#exit
99 DEALS IN 2021 AS OF JANUARY 19, 2021
Concho Resources
The company was acquired by ConocoPhillips (NYS: COP) for $9.7 billion on January 15, 2021. The transaction combines two high-quality industry leaders to create a company with an approximately $60 billion enterprise value. The company is no longer actively tracked by PitchBook.
BP (Global Petrochemicals Business)
The Global Petrochemical Business of BP (LON: BP) was acquired by INEOS Group for $5 billion on January 1, 2021. This transaction will further strengthen BP’s balance sheet and deliver its target for agreed divestments a year earlier than originally scheduled. The business unit is no longer actively tracked by PitchBook.
Massmutual Retirement Services
The company, a subsidiary of Massmutual Financial Group, was acquired by Empower Retirement, a subsidiary of Great-West Lifeco (TSE: GWO) for approximately $3.35 billion on January 4, 2021. The company is no longer actively tracked by PitchBook.
Husky Energy
The company was acquired by Cenovus Energy (TSE: CVE) for CAD 3.8 billion on January 4, 2021. The acquisition creates Canada’s third-largest crude oil and natural gas producer, based on total company production, with about 750,000 barrels of oil equivalent per day of low-cost oil and natural gas production. The company is no longer actively tracked by PitchBook.
Voya Financial (Life In-force Business)
The individual life in-force business of Voya Financial was acquired by Resolution Life, via its financial sponsors Temasek Holdings, JPMorgan Chase, Helix Equities, Kohlberg Kravis Roberts and Universities Superannuation Scheme, through a $1.5 billion LBO on January 4, 2021. The transaction provides Resolution Life with a strong platform to capitalize on future growth opportunities in the US market and diversify its risk profile against the Resolution Australasia and Resolution Re liabilities.
Novasep Belgium
The company was acquired by Thermo Fisher Scientific (NYS: TMO) for $879.72 million on January 15, 2021. The acquisition will help strengthen the medical device maker’s position in the fast-growing field of gene therapy manufacturing. The company is no longer actively tracked by PitchBook.
Kuehne + Nagel (UK Contract Logistics Portfolio)
The UK contract logistics portfolio business of Kuehne + Nagel was acquired by XPO Logistics for GBP 500 million on January 4, 2021. The business division is no longer actively tracked by PitchBook.
AstraZeneca (Commercial Rights of Atacand and Atacand Plus)
The commercial rights for Atacand and Atacand Plus heart drugs of AstraZeneca PLC (LON: AZN) were acquired by Cheplapharm for $400 million on January 4, 2021. The asset is no longer actively tracked by PitchBook.
Arbonia (Windows Business)
The Windows Business of Arbonia (SWX: ARBN) was acquired by Dovista Group for CHF 350 million on January 9, 2021. The acquisition supports Dovista Group in gaining access to the Central European markets of Switzerland, Germany, Poland, and Slovakia. The business unit is no longer actively tracked by PitchBook.
The Extremity orthopedic business of Integra LifeSciences (NAS: IART) was acquired by Smith & Nephew (LON: SN.) for $240 million on January 4, 2021. This transaction will increase Integra LifeSciences’ focus on neurosurgery, surgical instrumentation and regenerative medicine. The business division is no longer actively tracked by PitchBook.
NAL Resources
The company, a subsidiary of Manulife (TSE : MFC), was acquired by Whitecap Resources (TSE: WCP) for CAD 155 million on January 4, 2020. The acquisition will position Whitecap to further advance its internal opportunities, as well as its ability to selectively consolidate high-quality assets in core areas of operation. The company is no longer actively tracked by PitchBook.
RUTGERS Polymers
The companies were acquired by Cyalume Technologies, via its financial sponsor Arsenal Capital Partners, through an Rs. 6374 million LBO on January 1, 2021. Cyalume Technologies acquired RUTGERS Polymers, Canada for Rs 5737 million and Handy Chemicals for Rs 637 million. The companies are no longer actively tracked by PitchBook.
Cimatron
The company, a subsidiary of 3D Systems, was acquired by SigmaTEK Systems, via its financial sponsor Battery Ventures, through an estimated $64.2 million LBO on January 1, 2021. Using a portion of the proceeds from the sale, 3D Systems paid off approximately $21 million of outstanding balances under its senior secured term loan facility. The company is no longer actively tracked by PitchBook.
InterEnergy Holdings (Matafongo Project)
The Matafongo Project of Inveravante was acquired by Grupo Popular and InterEnergy Holdings, via its financial sponsors Barings, IFC Asset Management Company and Portland Private Equity through a $52 million LBO on January 10, 2021. The project is no longer actively tracked by PitchBook.
Analytical Technology
The company, a subsidiary of Thermo Electron, was acquired by Badger Meter (NYS: BMI) for $44 million on January 8, 2021.
HC2 Station Group (Four Television Stations in Dallas, Houston and Phoenix)
Four Television Stations of HC2 Station Group, a subsidiary of HC2 Broadcasting Holdings, were acquired by an undisclosed investor for $35 million on January 4, 2021. The proceeds from the transaction will help HC2 Broadcasting in reducing its debt. The assets are no longer actively tracked by PitchBook.
Mezon Retail
The retail broadband and internet protocol television (IPTV) business of Telecentras was acquired by Bite Lietuva, via its financial sponsor Providence Equity Partners, through an estimated EUR 20 million LBO on January 4, 2021. The business unit is no longer actively tracked by PitchBook.
Kleo Pharmaceuticals
The company was acquired by Biohaven Pharmaceutical (NYS: BHVN) for $20 million on January 7, 2021, putting the company’s pre-money valuation at $270 million. Previously, the company received $5 million of grant funding from Bill & Melinda Gates Foundation on July 8, 2020.
The Quadrant
The Quadrant was acquired by Kadans Science Partner, via its financial sponsor Oaktree Capital Management, through a GBP 13 million LBO on January 12, 2021. The asset is no longer actively tracked by PitchBook.
Mallee Bull Project
The Mallee Bull Project was acquired by Peel Mining (ASX:PEX) for an undisclosed amount on January 6, 2021. The asset is no longer actively tracked by PitchBook.
Osmotica Pharmaceuticals (OSMOLEX ER)
The Osmolex ER brand of Osmotica Pharmaceutical was acquired by Adamas Pharmaceuticals for EUR 7.5 million on January 5, 2021. The acquisition will help Adamas Pharmaceuticals in broadening its presence in neurology and its ability to serve more patients. The asset is no longer actively tracked by PitchBook.
Financial Software Investment by VC (last 90 days)
Checkout.com, a London-based Connected Payments solutions provider, closed a $450m Series C funding round
Blend, a San Francisco, CA-based provider of digital lending solutions, secured $75m in Series F funding
Rapyd, a London, UK- and Mountain View, CA-based Fintech as a Service company, raised $300m in Series D financing led by Coatue. Investors including Spark Capital, Avid Ventures, FJ Labs, and Latitude also joined the round. Some 30% to 40% of those proceeds, says CEO Arik Shtilman, will go toward mergers and acquisitions.
KEYWORDS: Checkout.com, Social Finance,Blend, Creditas, Moov Financial, Monzo,Hanaco, PayPal Ventures, Whale Rock, Schonfeld, NEA, Insight Venture Partners, Acrew,
FINTECH PITCHBOOK
Checkout.com, a London-based Connected Payments solutions provider, closed a $450m Series C funding round
Social Finance, Inc. (SoFi), a next-generation financial services platform, has entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V (“SCH”) (NYSE: IPOE), a publicly traded special purpose acquisition company founded by CEO Chamath Palihapitiya, to bring a major consumer-focused financial technology business to the public markets
Blend, a San Francisco, CA-based provider of digital lending solutions, secured $75m in Series F funding
Creditas, a São Paulo, Brazil-based digital secured lending platform, raised USD$231m in Series D funding
Self Financial, an Austin, Texas-based fintech startup enabling consumers to build credit and savings, closed a $40m round of Series D financing
Moov Financial, a Cedar Falls, Iowa-based fintech company, raised $27M in Series A funding
EarlyBird, a Chicago, IL-based fintech gifting platform, raised $2.4M in financing
Monzo, the U.K.-based challenger bank, raised £60 million ($81 million). Investors included Novator, Kaiser, TED Global, and Goodwater.
Divvy, a Draper, Ut.-based corporate spend management company, raised $165 million at a valuation of $1.6 billion. Investors included Hanaco, PayPal Ventures, Whale Rock, Schonfeld, NEA, Insight Venture Partners, Acrew, and Pelion.
Paxos, a New York-based financial technology company offering a blockchain-powered trust, raised $65 million in Series B funding. Investors include Liberty City Ventures, RRE Ventures, and Jay Jordan.
Oscar, a New York-based direct-to-consumer health insurance company, raised $225 million in funding round. Investors include Alphabet, General Catalyst, Khosla Ventures, Lakestar, Thrive Capital, and new investors Baillie Gifford and Coatue.
SimpleNexus, a Lehi, Ut.-based home sale and mortgage platform, raised $108 million in Series B funding. Insight Partners led the round.
FinTech continues to show substantial financing at the end of 2020. We are happy to share our deal flow (2 excellent investment in 2020 in FinTech) as well as research with accredited investors (& other qualified investment entities).
Again happy to share our complete research and deal flow with accredited investors and here is a list of FinTech deals completed December of 2020.
Clearly, 2020 was never going to be a normal year for M&A activity in the face of a global pandemic. Nevertheless, there have been some standout transactions. When it comes to deals worth $5 billion or more, activity has been decidedly lumpy this year, with a notable fallow period between March and September. Many of the major deals in the year’s cohort speak to broader economic and industry trends—not all of them COVID-related. This list, while not comprehensive, looks at some of the key European themes at play over the past 12 months.
Last-minute deliveries
Takeaway.com secured its £6 billion (around $7.9 billion) acquisition of its rival Just Eat in January, following prolonged bidding with rival suitor Prosus that had begun the previous July with Takeaway’s initial bid. The deal, which created the continent’s largest food delivery company, got the final nod from regulators in April. It was a bitter loss for Prosus, which made three separate cash offers before it had to concede defeat. The Dutch-listed tech company was also beaten to the punch by Norway’s Adevinta in July when it had tried to buy eBay‘s classifieds unit in what was eventually a $9 billion deal.
Payments giants
French payments company Worldline agreed to buy its rival Ingenico without too much fanfare in February. The €7.8 billion (around $9.5 billion) deal, which created the fourth-largest payment services provider in the world, was one of the last major European deals to be announced before the pandemic forced widespread lockdowns. The deal closed in October, and just a month later, Italian digital payments company Nexi, itself the product of several mergers, agreed to buys its Danish rival Nets in another €7.8 billion deal.
EDITORS NOTE: We continue to provide data and information in different formats. We welcome your feedback. For full information on these deals contact JD Morris via LinkedIn.
RECENT FINTECH DEALS
Narmi
The company raised $19.17 million of venture funding from undisclosed investors on December 31, 2020.
Finja (Financial Software)
The company raised $12 million of Series A1 venture funding from Investment Capital Ukraine, VEF and Quona Capital on December 29, 2020. BEENEXT (Singapore) and Gray Mackenzie Engineering Services also participated in the round. Out of the total funding, $3 million was raised in the form of convertible debt and subsequently converted to equity. The funding raised will be used to rapidly scaleup and create an unprecedented impact in the industry.
Atomic FI
The company raised $7 million of convertible debt financing from undisclosed investors on December 29, 2020. Previously, the company raised $5.91 million of seed funding through a combination of Seed Plus-1 and Seed Plus-2 from Core Innovation Capital and other undisclosed investors on July 6, 2020, putting the company’s pre-money valuation at $15 million.
Starship (Financial Software)
The company raised $4.3 million of venture funding from undisclosed investors on December 29, 2020.
Envel
The company raised $4 million of seed funding in the form of convertible debt in a deal led by Paul Pagnato alongside 10 other investors on December 31, 2020.. And also the company is in the process of raising $50,000 of equity crowdfunding via Wefunder in the form of convertible debt as of November 20, 2020. It plans to close the round on March 18, 2021.
Qoyod
The company raised $2.1 million of Series A venture funding in a deal led by Merak Capital on December 29, 2020. Other undisclosed investors also participated in the round.
Verify4
The company is in the process of raising seed2 funding in 2021. Previously, the company raised $2.01 million of seed1 funding from undisclosed investors on December 31, 2020. The company is being actively tracked by PitchBook
Income Lab
The company raised $919,995 of angel funding from undisclosed investors on December 29, 2020.
RealKey
The company raised $675,000 of convertible debt financing from undisclosed investors on December 29, 2020.
Hakki Africa
The company raised JPY 30 million of seed funding from Fals Co. Ltd on December 29, 2020. The company will use this fund to finance used car finance for taxi drivers, which is a rapidly growing business.
MoneyAbility
The company raised $124,000 of angel funding from undisclosed investors on December 31, 2020.
Luxor Technology
The company received $100,000 of financing from Routemaster Capital (TSX: RM) on December 29, 2020. Routemaster has the right to invest an additional $200,000 into the company.
FIC
The company is no longer in business as of January 1, 2021. The company is no longer actively tracked by PitchBook.
Neotic (Financial Software)
The company is no longer actively in business as of January 1, 2021. The company is no longer tracked by PitchBook.
OrthoBanc
The company was acquired by OrthoFi, via its financial sponsors Accel-KKR and Boathouse Capital, through an LBO on December 31, 2020 for an undisclosed sum.
PERACS
The company was acquired by MJ Hudson (LON: MJH) for an undisclosed amount on December 30, 2020.
SIX MONTH OVERVIEW DECENTRALIZED FINANCE
Growth Metrick places 74 deals (100% YoY) with $269.11 million capital invested (140.04% Yoy) with average age of company being 1.7 years (.6 years between deals).
Decentralized Finance (DeFi) encompasses conventional financial tools and services built on blockchain. DeFi is offered on open protocols and decentralized networks, enabling users to be custodians of their own assets. Companies in this space develop open lending protocols, issuance & investing platforms, decentralized prediction markets and other blockchain-based alternatives to traditional finance.
