Spotlight
Spotlight
An archive of past spotlight issues.
The martinwolf team tracks noteworthy mergers and acquisitions, and offers
commentary on issues that impact our industry.
24 Apr 2024
Celestica (NYSE: CLS) to Acquire NCS Global from Heritage Holding
Financial Information Enterprise Value: $36M (and a possible earnout payment should certain post-closing financial conditions be met) Transaction Details Celestica has entered into a definitive agreement to acquire NCS Global, a US-based IT infrastructure and asset management business. The transaction is expected to close in May 2023 or earlier, subject to satisfaction of customary closing...
02 Apr 2024
CD&R to Acquire Presidio from BC Partners
Financial Information Not Disclosed Transaction Details Clayton Dubilier & Rice (CD&R) and BC Partners announced on April 2, 2024, that they have entered into a definitive agreement under which CD&R will acquire a majority ownership of Presidio. Funds affiliated with BC Partners will retain minority ownership interest. The transaction is expected to close in the...
06 Feb 2024
NWN Carousel acquired by American Securities
Financial Information Revenue: Approx. $900 million Enterprise Value: N/A Transaction Details NWN Carousel announced a transition of ownership from New State Capital Partners to affiliates of American Securities. This transition represents the success of significant investment, organic growth, M&A execution, operational excellence and innovation under ownership of New State Capital Partners. NWN Carousel developed a...
29 Jan 2024
AHEAD to Acquire Computer Design & Integration
Financial Information (USD) Enterprise Value: Approximately $705 Million EV/EBITDA: 9.65x Transaction Details One Equity Partners LLC has entered into a definitive agreement to sell IT services firm Computer Design & Integration to Berkshire Partners-backed AHEAD. The agreement values CDI at approximately $705 million including debt. To fund the transaction, AHEAD plans to issue an incremental...
10 Jan 2024
Hewlett Packard Enterprise to Acquire Juniper Networks
Financial Information ($USD) Enterprise Value: $14.0 Billion EV/LTM Revenue: 2.48x EV/LTM EBITDA: 20.91x Transaction Details Hewlett Packard Enterprise (NYSE: HPE) and Juniper Networks, Inc. (NYSE: JNPR), a leader in AI-native networks, today announced that the companies have entered a definitive agreement under which HPE will acquire Juniper in an all-cash transaction for $40.00 per...
20 Dec 2023
Happy Holidays – The 2023 martinwolf Annual Letter
View a pdf of this letter here. Dear Clients, Partners, and Friends, With another year wrapping up, I want to take time to thank you for your continued support, reflect on the past year, and look ahead to what we believe will be a better and more dynamic 2024. This past year...
05 Dec 2023
H.I.G. Capital Completes Acquisition of Mainline
Financial Information ($USD) Purchase Price: Not Disclosed EBITDA: Not Disclosed Transaction Details H.I.G. Capital, a leading global alternative investment firm with $59 billion of capital under management, has announced one of its affiliates has completed the acquisition of Mainline Information Systems. Mainline Information Systems, headquartered in Tallahassee, FL, is a leading IT solutions provider with...
01 Dec 2023
Insight Acquires SADA
Financial Information ($USD) Purchase Price: $410 million cash free debt free Earnout: Up to $390 million with a target of $210 million EV/EBITDA: Approximately 11.3x, based on purchase price plus target earnout and $55 million of EBITDA Transaction Details Insight Enterprises (NASDAQ: NSIT) today announced it has completed a $410M acquisition of SADA, a leading...
22 Feb 2023
How Microsoft Channel Partners Can Command High Valuations
In today’s rapidly changing ecosystem, simple organic growth doesn’t give Microsoft Channel Partners long-term competitive advantage. During the last five years, Microsoft Channel Partners have commanded high valuations due to strong and sustainable business models, as well as a track record of profitability. Most were small mid-market businesses that had to decide to be...