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Advent International Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Advent International has acquired 21 companies. It has also invested in 10 others.

Advent International’s most common sectors for investment arefinancial services (10%) and information technology (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (45%) and secondary buyout (16%). In total, Advent International has invested in 24 US states and 37 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired McAfee for $14.0B.

In the last 3 years, Advent International has exited 16 companies. The Firm’s most common exit type is trade sale (37%). Advent International’s largest (disclosed) exit occurred in 2017 when it sold Worldpay UK for $12.0B.

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M&A Summary

  • M&A Total Activity566
    • M&A Buy Activity344
    • M&A Sell Activity222
  • Total Sectors Invested 49
  • Total Countries Invested 37
  • M&A Buy/Sell Connections 194
  • M&A Advisors 71

Advent International

Advent International L.P.

800 Boylston Street,
Boston, Massachusetts 02109
United States
(617) 951-9400
www.adventinternational.com
lps@adventinternational.com

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Energy Services and Equipment, Financial Services, Healthcare Services, Information Technology, Internet Software and Services, Leisure, Life Science, Machinery, Manufacturing, Marketing, Media, Medical Products, Restaurants, Retail, Software, Technology Hardware

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 2,000
Enterprise Value 50 5,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (9.6/yr) # 296 17 13 7 6 5 344
vol $48.0B $14.0B $10.6B $4.3B $6.3B $83.1B
Sell (7.0/yr) # 188 19 3 8 5 - 223
vol $44.4B $7.6B $4.4B $56.4B
  567

Most Recent M&A

Company Date Value Type
LayerZero Power Systems, Inc. 2025-06-30 - Buyout (LBO, MBO, MBI)
Aurora, Ohio · www.layerzero.com
Felix Pharmaceuticals Pvt. Ltd. 2025-06-09 - Stake Purchase
Dublin, Ireland · www.felixvet.com
Kereis SAS 2025-05-28 - Secondary Buyout
Paris, France · www.kereis.com
tbi bank 2025-04-22 - Buyout (LBO, MBO, MBI)
Sofia, Bulgaria · www.tbibank.com
Sauer Brands, Inc. 2025-01-06 - Secondary Buyout
Richmond, Virginia · www.sauerbrands.com
Sistemas De Informacion Empresarial S. A. 2024-12-02 - Buyout (LBO, MBO, MBI)
Cali, Colombia · www.siesa.com
Neoris, Inc. 2024-09-04 - Trade Sale
Miami, Florida · www.neoris.com
Seek Pet Products Co., Ltd. 2024-08-12 - Growth Capital
Shandong, China
Evri Ltd. 2024-07-25 - Secondary Sale
Leeds, United Kingdom · www.evri.com
Aareon AG 2024-06-24 4.4B EUR Secondary Sale
Mainz, Germany · www.aareon.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Encora Digital, Inc. 2021-12-21 DMI - Commerce, marketing & strategy, and digital engineering services 2025-02-06 3
Scottsdale, Arizona · www.encora.com McLean, Virginia
Maxar Technologies Ltd. 2022-12-16 WeatherDesk 2024-12-09 2
Westminster, Colorado · www.maxar.com Westminster, Colorado
Maxar Technologies Ltd. 2022-12-16 Maxar - Radar and Sensor Technology 2024-11-01 1
Westminster, Colorado · www.maxar.com Ypsilanti, Michigan
Caldic B.V. 2021-11-22 Caldic Food Service & Retail Sweden AB 2024-07-01 1
Rotterdam, Netherlands · www.caldic.com Malmö, Sweden · www.caldicfoodserviceretail.com
Cobham Ltd. 2020-01-22 CAES Systems Holdings LLC 2024-06-20 3
Dorset, United Kingdom · www.cobham.com Arlington, Virginia · www.caes.com
Imperial Dade 2022-05-02 Supreme Paper Supplies 2023-09-05 42
Jersey City, New Jersey · www.imperialdade.com Pensacola, Florida · www.supremepapersupply.com
Encora Digital, Inc. 2021-12-21 Excellarate 2023-01-26 2
Scottsdale, Arizona · www.encora.com Wayne, Pennsylvania · www.excellarate.com
Caldic B.V. 2021-11-22 Connell Bros. Co. LLC 2022-10-14 1
Rotterdam, Netherlands · www.caldic.com San Francisco, California · www.connellworld.com
Cobham Ltd. 2020-01-22 Cobham Aviation Services Australia's Special Mission business 2022-08-02 2
Dorset, United Kingdom · www.cobham.com , Australia
Nielsen Consumer LLC 2020-11-01 GfK SE 2022-07-01 6
Chicago, Illinois · www.nielseniq.com Nuremberg, Germany · www.gfk.com

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 10 (10%) 7.0B (12%) 33 (10%) 15.5B (18%)
Information Technology 13 (13%) 18.7B (33%) 30 (9%) 21.4B (25%)
Life Science 11 (11%) 6.4B (11%) 22 (6%) 6.7B (8%)
Consumer Products 10 (10%) - 21 (6%) 4.0B (5%)
Business Services 4 (4%) - 21 (6%) 422M (< 1%)
Retail - - 20 (6%) 3.0B (3%)
Healthcare Services 5 (5%) - 18 (5%) 2.0B (2%)
Communications - - 18 (5%) 1.1B (1%)
Software 8 (8%) - 16 (5%) -
Internet Software and Services 4 (4%) - 13 (4%) 1.6B (2%)
Food 3 (3%) - 12 (3%) 212M (< 1%)
Chemicals 4 (4%) 3.4B (6%) 11 (3%) 4.4B (5%)
Distribution 3 (3%) - 9 (3%) 341M (< 1%)
Media 1 (1%) - 8 (2%) -
Apparel/Textiles 4 (4%) - 7 (2%) 120M (< 1%)
Restaurants 1 (1%) - 7 (2%) -
Manufacturing 1 (1%) 4.2B (7%) 5 (1%) 5.7B (7%)
Consumer Services 1 (1%) - 5 (1%) 1.1B (1%)
Building Materials - - 5 (1%) 39M (< 1%)
Education 2 (2%) - 5 (1%) -
Marketing 1 (1%) - 5 (1%) -
Information Services 1 (1%) 6.4B (11%) 4 (1%) 6.5B (8%)
Energy Services and Equipment 2 (2%) 3.7B (7%) 4 (1%) 4.2B (5%)
Machinery 1 (1%) - 4 (1%) -
Medical Products 1 (1%) - 4 (1%) -
Transportation 3 (3%) - 4 (1%) -
Beverages - - 3 (1%) -
Leisure 2 (2%) - 3 (1%) -
Packaging 1 (1%) - 3 (1%) -
Metals/Mining - - 2 (1%) 1.3B (2%)
Electrical Equipment 1 (1%) - 2 (1%) -
Engineering - - 2 (1%) -
Marine - - 2 (1%) -
Technology Hardware 1 (1%) - 2 (1%) -
Defense 1 (1%) 6.2B (11%) 1 (< 1%) 6.2B (7%)
Aerospace - - 1 (< 1%) -
Agriculture - - 1 (< 1%) -
Automotive 1 (1%) - 1 (< 1%) -
Construction 1 (1%) - 1 (< 1%) -
Electronics - - 1 (< 1%) -
Environmental - - 1 (< 1%) -
Insurance 1 (1%) - 1 (< 1%) -
Plastics - - 1 (< 1%) -
Publishing - - 1 (< 1%) -
Safety/Security - - 1 (< 1%) -
Semiconductors - - 1 (< 1%) -
Staffing - - 1 (< 1%) -
Test/Measurement Equipment - - 1 (< 1%) -
Utilities 1 (1%) - 1 (< 1%) -
Total 104 $55.8B 345 $85.8B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 28 (27%) 29.3B (52%) 102 (30%) 35.2B (41%)
  Massachusetts 1 (1%) - 16 (5%) -
  New York 7 (7%) - 13 (4%) -
  California 5 (5%) 15.9B (28%) 12 (3%) 16.3B (19%)
  Texas 3 (3%) - 9 (3%) -
  Illinois 3 (3%) 7.0B (12%) 7 (2%) 7.9B (9%)
  New Jersey 1 (1%) - 6 (2%) 3.8B (4%)
  Florida - - 6 (2%) 120M (< 1%)
  Georgia 1 (1%) - 5 (1%) -
  Colorado 1 (1%) 6.4B (11%) 4 (1%) 6.4B (7%)
  Utah 1 (1%) - 4 (1%) 545M (1%)
  Pennsylvania - - 3 (1%) -
  Washington 1 (1%) - 2 (1%) -
  Virginia 1 (1%) - 2 (1%) -
  Ohio 1 (1%) - 2 (1%) -
  Missouri - - 2 (1%) -
  Arizona 1 (1%) - 1 (< 1%) -
  Alabama 1 (1%) - 1 (< 1%) -
  Minnesota - - 1 (< 1%) 130M (< 1%)
  Maryland - - 1 (< 1%) 115M (< 1%)
  Tennessee - - 1 (< 1%) -
  North Carolina - - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) -
  Michigan - - 1 (< 1%) -
  Kansas - - 1 (< 1%) -
United Kingdom 5 (5%) 6.2B (11%) 36 (10%) 12.5B (15%)
Brazil 9 (9%) - 26 (8%) -
Germany 5 (5%) 3.4B (6%) 22 (6%) 8.1B (9%)
France 6 (6%) - 18 (5%) 4.3B (5%)
India 13 (13%) - 15 (4%) -
Mexico 4 (4%) - 14 (4%) 441M (1%)
Italy 4 (4%) - 11 (3%) 3.5B (4%)
Poland 2 (2%) - 10 (3%) -
Netherlands 2 (2%) 4.2B (7%) 9 (3%) 5.8B (7%)
Romania - - 7 (2%) 178M (< 1%)
Spain - - 7 (2%) -
China 6 (6%) - 6 (2%) -
Argentina 2 (2%) - 6 (2%) -
Czech Republic 1 (1%) 2.2B (4%) 6 (2%) 2.2B (3%)
Denmark - - 5 (1%) 2.6B (3%)
Hungary - - 5 (1%) 212M (< 1%)
Colombia 3 (3%) 418M (1%) 4 (1%) 418M (< 1%)
Bulgaria 1 (1%) - 4 (1%) -
Canada 2 (2%) 6.3B (11%) 3 (1%) 6.3B (7%)
  British Columbia 1 (1%) - 2 (1%) -
  Quebec 1 (1%) 6.3B (11%) 1 (< 1%) 6.3B (7%)
Ireland 2 (2%) 659M (1%) 3 (1%) 659M (1%)
Singapore 1 (1%) - 3 (1%) -
Uruguay - - 3 (1%) 167M (< 1%)
Turkey - - 3 (1%) -
Sweden 2 (2%) - 2 (1%) -
Austria 1 (1%) 3.3B (6%) 2 (1%) 3.3B (4%)
Luxembourg 1 (1%) - 2 (1%) -
Belgium - - 2 (1%) -
Peru 1 (1%) 85M (< 1%) 1 (< 1%) 85M (< 1%)
Australia 1 (1%) - 1 (< 1%) -
Chile 1 (1%) - 1 (< 1%) -
Costa Rica 1 (1%) - 1 (< 1%) -
Dominican Republic - - 1 (< 1%) -
New Zealand - - 1 (< 1%) -
Slovakia - - 1 (< 1%) -
Switzerland - - 1 (< 1%) -
Ukraine - - 1 (< 1%) -
Domestic 28 (27%) 29.3B (52%) 102 (30%) 35.2B (41%)
Cross-border 76 (73%) 26.6B (48%) 243 (70%) 50.6B (59%)
Total 104 $55.8B 345 $85.8B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 21 (20%) - 153 (44%) 5.0B (6%)
Secondary Buyout 20 (19%) 659M (1%) 55 (16%) 2.7B (3%)
Divestiture 17 (16%) 20.4B (37%) 37 (11%) 28.7B (35%)
Growth Capital 16 (15%) - 30 (9%) -
Going Private 8 (8%) 34.8B (62%) 19 (6%) 42.0B (52%)
Venture 8 (8%) - 15 (4%) -
Stake Purchase 9 (9%) - 14 (4%) -
Recapitalization 1 (1%) - 13 (4%) 2.9B (4%)
Consolidation 1 (1%) - 3 (1%) -
PIPE 2 (2%) - 3 (1%) -
Joint Venture 1 (1%) - 2 (1%) -
Add-on Acquisition - - 1 (< 1%) -
Total 104 $55.8B 345 $81.2B

Exits by Deal Type

Type Total # Value
Secondary Sale 59 (26%) 17.3B (31%)
Trade Sale 51 (23%) 7.0B (13%)
Trade Sale - Public Company 48 (22%) 19.6B (35%)
IPO 34 (15%) -
Merger 12 (5%) 12.0B (21%)
Stake Sale 5 (2%) -
Sold to Management 4 (2%) -
Bankruptcy 3 (1%) -
Shut Down 3 (1%) -
Divestiture 1 (< 1%) -
Recapitalization 1 (< 1%) -
Sold to Existing Investors 1 (< 1%) -
SPAC 1 (< 1%) -
Total 223 $55.9B

Top M&A Advisors

Financial Deals
Goldman Sachs
 10
Deutsche Bank Corporate & Investment Banking
 8
Morgan Stanley
 6
Legal Deals
Weil Gotshal & Manges
 24
Ropes & Gray
 9
Kirkland & Ellis
 5

Deal Values

buy # Total
> $1B 23 $77.7B
$100M to $1B 22 $8.0B
< $100M 2 $124M
TOTAL $85.8B
Largest McAfee Corp.
$14.0B (2021-11-08)
sell # Total
> $1B 17 $43.0B
$100M to $1B 26 $13.0B
< $100M 9 $400M
TOTAL $56.4B
Largest Worldpay UK Ltd.
$12.0B (2017-08-09)

M&A Connections

Deals
Acquired from
Investor(s)
17%
60 (17%)
Strategic(s)
11%
39 (11%)
Exited to
Investor(s)
28%
62 (28%)
Strategic(s)
43%
95 (43%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

76.0B USD

Established

1984

Specialist/Generalist

Generalist

Leadership

Bryan Taylor

Managing Partner

Chris Egan

Managing Partner

James Brocklebank

Managing Partner

Jan Janshen

Managing Partner

Jeff Paduch

Managing Partner

FAQ

When was Advent International founded?

Advent International was founded in 1984.

What type of investor is Advent International?

Advent International is a private equity firm.

Where is Advent International headquartered?

Advent International is headquartered in Boston, Massachusetts.

How much capital does Advent International have under management?

Advent International has 76.0B USD under management.

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