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The Blackstone Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, The Blackstone Group has acquired 35 companies. It has also invested in 12 others.

The Blackstone Group’s most common sectors for investment arecommunications (8%) and information technology (7%) . The Firm’s most common investment types include secondary buyout (24%) and buyout (lbo, mbo, mbi) (23%). In total, The Blackstone Group has invested in 32 US states and 29 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B.

In the last 3 years, The Blackstone Group has exited 17 companies. The Firm’s most common exit type is trade sale (40%). The Blackstone Group’s largest (disclosed) exit occurred in 2019 when it sold Refinitiv for $27.0B.

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M&A Summary

  • M&A Total Activity523
    • M&A Buy Activity347
    • M&A Sell Activity176
  • Total Sectors Invested 56
  • Total Countries Invested 29
  • M&A Buy/Sell Connections 179
  • M&A Advisors 82

The Blackstone Group

Blackstone Inc.

345 Park Avenue,
New York, New York 10154-0191
United States
(212) 583-5000
www.blackstone.com

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


Investment Criteria

Sectors of Interest: Agriculture, Airlines, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Electrical Equipment, Electronics, Energy Services and Equipment, Environmental, Financial Services, Food, Franchising, Gaming, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Leisure, Life Science, Machinery, Manufacturing, Marine, Marketing, Media, Medical Products, Metals/Mining, Oil/Gas Exploration, Packaging, Publishing, Real Estate, Renewable Energy, Restaurants, Retail, Safety/Security, Semiconductors, Software, Staffing, Technology Hardware, Transportation, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, 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, Asia/Pacific, Australia/New Zealand, Central Asia/India

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 -
Enterprise Value 250 -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (14.6/yr) # 274 27 11 9 17 9 347
vol $370.6B $70.4B $35.7B $6.9B $43.5B $25.3B $552.3B
Sell (6.6/yr) # 146 16 10 2 3 2 179
vol $149.5B $13.2B $6.3B $740M $525M $125M $170.4B
  526

Most Recent M&A

Company Date Value Type
TXNM Energy, Inc. 2025-05-19 11.5B USD Going Private
Albuquerque, New Mexico · www.txnmenergy.com
Rogers Communications, Inc. 2025-04-04 7.0B USD Add-on Acquisition
Toronto, Ontario · www.rogers.com
Beacon Platform, Inc. 2025-03-12 - Trade Sale
New York, New York · www.beacon.io
Bistro 2025-03-12 125M USD Trade Sale
, United States
CMIC Holdings Co., LTD. 2025-03-03 - Buyout (LBO, MBO, MBI)
Minato-ku, Japan · www.cmicgroup.com
Stronvar Aerospace 2025-02-24 - Acquisition Financing
South Windsor, Connecticut · www.stronvaraerospace.com
Safe Harbor Marinas LLC 2025-02-24 5.7B USD Divestiture
Dallas, Texas · www.shmarinas.com
AI Fire LLC 2025-02-06 1.1B USD Secondary Buyout
Long Beach, California · www.aifire.com
Potomac Energy Center 2025-01-24 - Add-on Acquisition
Leesburg, Virginia
DataDirect Networks, Inc. 2025-01-09 - Growth Capital
Chatsworth, California · www.ddn.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
International Data Group, Inc. 2021-06-03 IDG Communications, Inc. 2025-03-20 1
Needham, Massachusetts · www.idg.com Needham, Massachusetts · www.foundryco.com
Packers Sanitation Services, Inc. 2018-05-11 StartKleen LLC 2025-03-14 1
Mt. Pleasant, Iowa · www.packers-sanitation.com Gunter, Texas · www.startkleen.com
Team Health Holdings, Inc. 2016-10-31 Team Health - VirtualCare 2024-09-17 1
Knoxville, Tennessee · www.teamhealth.com , United States
Trystar LLC 2024-07-16 Salient LLC 2024-09-17 1
Faribault, Minnesota · www.trystar.com Charlotte, North Carolina · www.psicontrolsolutions.com
NIBC Holding N.V. 2020-02-25 Beequip Equipment B.V. 2024-09-05 1
The Hague, Netherlands · www.nibc.com Rotterdam, Netherlands · www.beequip.com
Cvent, Inc. 2023-03-14 One Clipboard, Inc. 2024-09-04 6
Tysons, Virginia · www.cvent.com New York, New York · www.splashthat.com
Medline Industries, Inc. 2021-06-05 Ecolab - Global Surgical Solutions Business 2024-08-01 3
Northfield, Illinois · www.medline.com St. Paul, Minnesota
Lombard International Assurance SA 2014-07-11 Axcelus Financial Life Insurance Co. 2023-11-30 1
Luxembourg, Luxembourg · www.lombardinternational.com Philadelphia, Pennsylvania · www.axcelus.com
Center for Autism and Related Disorders, LLC 2018-04-13 Rivermont and Your Life ABA 2023-08-25 1
Plano, Texas · www.centerforautism.com , Virginia
Desotec N.V 2021-03-18 Evoqua - Carbon Reactivation and Exchange Services Business 2023-06-16 1
Roeselare, Belgium · www.desotec.com Pittsburgh, Pennsylvania

M&A by Sector

Sector Current # Value All-time # Value
Communications 3 (2%) 7.0B (3%) 26 (7%) 35.4B (6%)
Information Technology 10 (7%) 28.5B (13%) 24 (7%) 42.0B (8%)
Internet Software and Services 15 (11%) 17.7B (8%) 23 (7%) 32.0B (6%)
Business Services 11 (8%) 14.0B (7%) 18 (5%) 15.4B (3%)
Leisure 3 (2%) 6.0B (3%) 16 (5%) 47.2B (9%)
Financial Services 8 (6%) 4.5B (2%) 16 (5%) 12.5B (2%)
Media 2 (1%) 385M (< 1%) 14 (4%) 15.0B (3%)
Software 6 (4%) - 14 (4%) 12.2B (2%)
Real Estate 7 (5%) 32.0B (15%) 11 (3%) 40.1B (7%)
Insurance 2 (1%) 4.0B (2%) 10 (3%) 8.2B (1%)
Chemicals 1 (1%) 1.1B (1%) 9 (3%) 14.8B (3%)
Energy Services and Equipment 3 (2%) 3.3B (2%) 9 (3%) 8.2B (1%)
Life Science 5 (4%) - 9 (3%) 5.5B (1%)
Oil/Gas Exploration 1 (1%) - 8 (2%) 1.7B (< 1%)
Apparel/Textiles 1 (1%) 1.2B (1%) 7 (2%) 2.9B (1%)
Healthcare Services 2 (1%) - 6 (2%) 4.0B (1%)
Electrical Equipment 4 (3%) - 6 (2%) 1.2B (< 1%)
Transportation 1 (1%) - 6 (2%) 1.1B (< 1%)
Consumer Products 3 (2%) - 6 (2%) 200M (< 1%)
Medical Products 2 (1%) 34.0B (16%) 5 (1%) 47.6B (9%)
Utilities 2 (1%) 14.6B (7%) 5 (1%) 22.0B (4%)
Renewable Energy 3 (2%) - 5 (1%) 2.2B (< 1%)
Education 3 (2%) - 5 (1%) 1.7B (< 1%)
Environmental 2 (1%) - 5 (1%) 590M (< 1%)
Information Services 2 (1%) 6.0B (3%) 4 (1%) 38.7B (7%)
Staffing 2 (1%) 6.1B (3%) 4 (1%) 7.3B (1%)
Restaurants 1 (1%) - 4 (1%) 7.3B (1%)
Retail - - 4 (1%) 6.4B (1%)
Food - - 4 (1%) 5.8B (1%)
Automotive - - 4 (1%) 5.6B (1%)
Manufacturing 2 (1%) - 4 (1%) 5.4B (1%)
Packaging 1 (1%) - 4 (1%) 4.3B (1%)
Safety/Security 2 (1%) 1.1B (1%) 4 (1%) 3.9B (1%)
Building Materials 1 (1%) - 4 (1%) 780M (< 1%)
Gaming 2 (1%) 8.9B (4%) 3 (1%) 39.6B (7%)
Electronics 1 (1%) - 3 (1%) 5.0B (1%)
Aerospace 2 (1%) 4.7B (2%) 3 (1%) 4.7B (1%)
Distribution 2 (1%) 1.8B (1%) 3 (1%) 3.2B (1%)
Metals/Mining - - 3 (1%) 1.8B (< 1%)
Construction 2 (1%) 1.6B (1%) 3 (1%) 1.6B (< 1%)
Marketing 2 (1%) - 3 (1%) 750M (< 1%)
Engineering 2 (1%) - 3 (1%) -
Machinery 1 (1%) - 3 (1%) -
Franchising 1 (1%) 8.0B (4%) 2 (1%) 8.5B (2%)
Marine 1 (1%) 5.7B (3%) 2 (1%) 5.8B (1%)
Beverages 1 (1%) - 2 (1%) 2.0B (< 1%)
Digital Media 2 (1%) - 2 (1%) -
Furniture 2 (1%) - 2 (1%) -
Infrastructure 2 (1%) - 2 (1%) -
Semiconductors - - 1 (< 1%) 17.6B (3%)
Publishing - - 1 (< 1%) 2.1B (< 1%)
Consumer Services - - 1 (< 1%) 608M (< 1%)
Agriculture - - 1 (< 1%) -
Airlines - - 1 (< 1%) -
E-Commerce 1 (1%) - 1 (< 1%) -
Forest Products 1 (1%) - 1 (< 1%) -
Total 136 $212.2B 349 $552.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 85 (63%) 169.2B (80%) 218 (63%) 444.7B (81%)
  Texas 10 (7%) 18.5B (9%) 35 (10%) 65.4B (12%)
  New York 8 (6%) 15.3B (7%) 23 (7%) 54.4B (10%)
  California 8 (6%) 2.7B (1%) 19 (5%) 17.1B (3%)
  Illinois 6 (4%) 39.4B (19%) 11 (3%) 53.7B (10%)
  Florida 4 (3%) - 10 (3%) 14.7B (3%)
  Massachusetts 7 (5%) 3.1B (1%) 9 (3%) 5.0B (1%)
  New Jersey 2 (1%) 8.0B (4%) 9 (3%) 17.2B (3%)
  Virginia 4 (3%) 4.6B (2%) 8 (2%) 33.6B (6%)
  Tennessee 3 (2%) 6.1B (3%) 8 (2%) 11.2B (2%)
  Georgia 3 (2%) 1.2B (1%) 8 (2%) 6.7B (1%)
  Colorado 1 (1%) 10.0B (5%) 8 (2%) 17.5B (3%)
  Maryland 3 (2%) - 6 (2%) 1.0B (< 1%)
  North Carolina 1 (1%) 6.0B (3%) 6 (2%) 15.1B (3%)
  Pennsylvania 2 (1%) 155M (< 1%) 5 (1%) 14.6B (3%)
  Ohio 2 (1%) - 5 (1%) 215M (< 1%)
  Connecticut 1 (1%) - 5 (1%) 2.1B (< 1%)
  Michigan 1 (1%) - 4 (1%) 5.6B (1%)
  Washington 3 (2%) 10.7B (5%) 3 (1%) 10.7B (2%)
  Utah 2 (1%) 4.7B (2%) 3 (1%) 6.7B (1%)
  Indiana - - 3 (1%) 13.3B (2%)
  Kansas 2 (1%) 13.3B (6%) 2 (1%) 13.3B (2%)
  Wisconsin 2 (1%) - 2 (1%) -
  Minnesota 2 (1%) - 2 (1%) -
  Nevada 1 (1%) - 2 (1%) 30.7B (6%)
  Iowa 1 (1%) - 2 (1%) -
  Arizona - - 2 (1%) -
  Missouri 1 (1%) 14.0B (7%) 1 (< 1%) 14.0B (3%)
  New Mexico 1 (1%) 11.5B (5%) 1 (< 1%) 11.5B (2%)
  Louisiana 1 (1%) - 1 (< 1%) -
  Arkansas 1 (1%) - 1 (< 1%) -
  Alabama 1 (1%) - 1 (< 1%) -
United Kingdom 8 (6%) 5.8B (3%) 26 (7%) 28.2B (5%)
India 4 (3%) 790M (< 1%) 19 (5%) 1.6B (< 1%)
Germany 3 (2%) - 11 (3%) 8.7B (2%)
China 4 (3%) - 9 (3%) 641M (< 1%)
Canada 4 (3%) 7.4B (3%) 8 (2%) 7.8B (1%)
  Ontario 3 (2%) 7.4B (3%) 4 (1%) 7.4B (1%)
  Quebec - - 2 (1%) 200M (< 1%)
  British Columbia 1 (1%) - 1 (< 1%) -
  Alberta - - 1 (< 1%) 209M (< 1%)
Australia 4 (3%) 26.0B (12%) 7 (2%) 27.3B (5%)
France 5 (4%) - 6 (2%) -
Netherlands 3 (2%) 1.8B (1%) 5 (1%) 4.7B (1%)
Bermuda - - 5 (1%) 5.3B (1%)
Japan 3 (2%) - 4 (1%) -
Italy 2 (1%) - 4 (1%) 237M (< 1%)
Switzerland 1 (1%) 1.1B (1%) 3 (1%) 3.3B (1%)
South Korea 2 (1%) - 2 (1%) -
Luxembourg 1 (1%) - 2 (1%) 1.1B (< 1%)
Finland 1 (1%) - 2 (1%) -
Singapore 1 (1%) - 2 (1%) -
Brazil - - 2 (1%) 800M (< 1%)
Mexico - - 2 (1%) 732M (< 1%)
New Zealand - - 2 (1%) 127M (< 1%)
Belgium 1 (1%) - 1 (< 1%) -
Israel 1 (1%) - 1 (< 1%) -
Malta 1 (1%) - 1 (< 1%) -
Sweden 1 (1%) - 1 (< 1%) -
United Arab Emirates 1 (1%) - 1 (< 1%) -
Denmark - - 1 (< 1%) 15.8B (3%)
Spain - - 1 (< 1%) 1.3B (< 1%)
Argentina - - 1 (< 1%) -
Maldives - - 1 (< 1%) -
Domestic 85 (63%) 169.2B (80%) 218 (63%) 444.7B (81%)
Cross-border 51 (38%) 42.9B (20%) 130 (37%) 107.6B (19%)
Total 136 $212.2B 348 $552.3B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 49 (36%) 33.8B (17%) 83 (24%) 63.6B (12%)
Buyout (LBO, MBO, MBI) 19 (14%) 44.3B (22%) 79 (23%) 94.7B (18%)
Stake Purchase 8 (6%) - 49 (14%) 23.8B (5%)
Going Private 19 (14%) 88.7B (44%) 37 (11%) 217.9B (41%)
Growth Capital 21 (15%) - 37 (11%) -
Divestiture 12 (9%) 28.5B (14%) 33 (9%) 93.7B (18%)
PIPE - - 12 (3%) 19.5B (4%)
Venture - - 6 (2%) 421M (< 1%)
Recapitalization 2 (1%) - 5 (1%) 2.1B (< 1%)
Add-on Acquisition 3 (2%) 7.0B (3%) 3 (1%) 7.0B (1%)
Special Situations/Distressed 2 (1%) - 3 (1%) 3.9B (1%)
Consolidation - - 1 (< 1%) 466M (< 1%)
Acquisition Financing 1 (1%) - 1 (< 1%) -
Total 136 $202.2B 349 $527.1B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 47 (26%) 114.7B (68%)
IPO 40 (22%) -
Trade Sale 26 (15%) 25.9B (15%)
Secondary Sale 21 (12%) 4.5B (3%)
Stake Sale 15 (8%) -
Merger 9 (5%) 9.6B (6%)
Bankruptcy 7 (4%) -
Divestiture 3 (2%) -
Sold to Management 3 (2%) -
SPAC 3 (2%) -
Sold to Existing Investors 2 (1%) 14.6B (9%)
Unknown 2 (1%) -
Recapitalization 1 (1%) -
Total 179 $169.3B

Top M&A Advisors

Financial Deals
BofA Securities
 24
Barclays Investment Bank
 19
Citi
 18
Legal Deals
Simpson Thacher & Bartlett
 67
Kirkland & Ellis
 22
Weil Gotshal & Manges
 7

Deal Values

buy # Total
> $1B 96 $518.0B
$100M to $1B 71 $33.9B
< $100M 8 $367M
TOTAL $552.3B
Largest Medline Industries, Inc.
$34.0B (2021-06-05)
sell # Total
> $1B 40 $163.5B
$100M to $1B 14 $6.9B
< $100M 2 $92M
TOTAL $170.4B
Largest Refinitiv
$27.0B (2019-08-01)

M&A Connections

Deals
Acquired from
Investor(s)
25%
87 (25%)
Strategic(s)
9%
33 (9%)
Exited to
Investor(s)
13%
24 (13%)
Strategic(s)
49%
88 (49%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

131.0B USD

Established

1987

Specialist/Generalist

Generalist

Leadership

Stephen Schwarzman

Chairman, CEO & Co-Founder

Kathleen Hogan

Senior Managing Director, Finance

Kim Percy

senior Managing Director, Finance

Natasha Gopaul

Senior Managing Director, Legal & Compliance

Dwight Scott

Chairman of Blackstone Credit & Insurance

FAQ

When was The Blackstone Group founded?

The Blackstone Group was founded in 1987.

What type of investor is The Blackstone Group?

The Blackstone Group is a private equity firm.

Where is The Blackstone Group headquartered?

The Blackstone Group is headquartered in New York, New York.

How much capital does The Blackstone Group have under management?

The Blackstone Group has 131.0B USD under management.

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