Private Equity Company Screens Report
Private Equity Company Screens Report
Private Equity Company Screens Report
Discover High Growth Deal Opportunities in Europe
Discover High Growth Deal Opportunities in Europe
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Table of contents
Organic Kings
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Executive Summary
In this report, we identify 14 different investment screens to help you jumpstart your private equity deal sourcing journey. We have carefully crafted each criterion to make sure it is relevant to our industry.
At Gain.pro, we cover every company in the world with more than 10 employees. For those that hit our threshold size, we dedicate over 12–14 hours of primary research to each company. These 14 investment screens are built upon those investable asset pools. While not exhaustive, we believe these strategies offer a strong foundation for further exploration.
We also welcome you the opportunity to further refine your search based on sector, region, EBITDA, or over a hundred other metrics, directly on Gain.pro.
In this report, we identify 14 different investment screens to help you jumpstart your private equity deal sourcing journey. We have carefully crafted each criterion to make sure it is relevant to our industry.
At Gain.pro, we cover every company in the world with more than 10 employees. For those that hit our threshold size, we dedicate over 12–14 hours of primary research to each company. These 14 investment screens are built upon those investable asset pools. While not exhaustive, we believe these strategies offer a strong foundation for further exploration.
We also welcome you the opportunity to further refine your search based on sector, region, EBITDA, or over a hundred other metrics, directly on Gain.pro.
In this report, we identify 14 different investment screens to help you jumpstart your private equity deal sourcing journey. We have carefully crafted each criterion to make sure it is relevant to our industry.
At Gain.pro, we cover every company in the world with more than 10 employees. For those that hit our threshold size, we dedicate over 12–14 hours of primary research to each company. These 14 investment screens are built upon those investable asset pools. While not exhaustive, we believe these strategies offer a strong foundation for further exploration.
We also welcome you the opportunity to further refine your search based on sector, region, EBITDA, or over a hundred other metrics, directly on Gain.pro.
If you have any questions about the data or the report, do not hesitate to reach out to sid.jain@gain.pro.
Table of contents
Table of contents
Screens Overview
Here are the 14 Investment screens we profile in the report:
Bounce Backs: Companies showcasing a bounce back in growth after a few tough years
Consolidators: Assets growing through an extensive buy-&-build strategy
Covid Survivors: Companies recovering strongly post significant COVID-19 downturn
Domestic Champions: Strong domestic companies poised for global expansion (or acquisition)
EBITDA Growth Leaders: Companies with best-in-class EBITDA growth & margins
Exit Ready: PE-owned assets with strong potential nearing an exit
Family Legacies: Resilient centuries-old family businesses nearing acquisition
Family Outperformers: Family-owned businesses with strong growth & margins
FTE Momentum Leaders: Companies rapidly growing their workforce
Organic Kings: Companies with best-in-class organic growth in their subsector
PE Outperformers: PE-backed companies in the top quartile of growth & margins
Resilient Growth: Companies with stable & predictable annual growth between 5-15%
Take Private Candidates: Underappreciated listed companies with robust growth & margins
VC-backed Buyout Opportunities: Growing and profitable VC-backed assets ripe for PE acquisition
Screens
Bounce Backs
Companies showcasing a bounce back in growth after a few challenging years. Here are the screening criteria:
Family or PE-owned assets in Europe
6 years top-line figures availability
First 3 years of negative growth
Last 2 years of positive growth
EBITDA >€5m (last reported)
Company in Spotlight
Location
United Kingdom
Industry
Technology
Owner(s)
Pulsant is a British provider of colocation & cloud infrastructure services. The company's business model revolves around offering colocation, data center services, workplace recovery, business continuity and managed services including hosting, networks, cloud and cybersecurity, enabling businesses to manage their IT infrastructure. As of August 2024, Pulsant served ~1.5k clients and owned and operated 12 data centers across the UK.
The 30-year-old business has a long PE ownership history, starting with the 2010 Bridgepoint takeover, which then sold Pulsant to Oak Hill Capital Partners and Scottish Equity Partners for ~€240m EV. In 2019, the owners attempted to sell the business at a rumored £340m but the deal was aborted. Finally, in 2021, the hosting & colocation provider found a new owner, Antin. Pulsant’s top-line started struggling around 2019 and the decline continued until 2021 (-4% CAGR 2018-2021). After Antin’s takeover, the company managed to generate double-digit growth figures with a +16% CAGR 2021-2023. In 2023, Pulsant generated the largest unadjusted EBITDA numbers since 2014. As such, we believe that the company is on track to further grow its top-line and improve the bottom-line given market tailwinds from growing consumer and business data consumption needs (e.g. IoT, big data).
Pulsant is a British provider of colocation & cloud infrastructure services. The company's business model revolves around offering colocation, data center services, workplace recovery, business continuity and managed services including hosting, networks, cloud and cybersecurity, enabling businesses to manage their IT infrastructure. As of August 2024, Pulsant served ~1.5k clients and owned and operated 12 data centers across the UK.
The 30-year-old business has a long PE ownership history, starting with the 2010 Bridgepoint takeover, which then sold Pulsant to Oak Hill Capital Partners and Scottish Equity Partners for ~€240m EV. In 2019, the owners attempted to sell the business at a rumored £340m but the deal was aborted. Finally, in 2021, the hosting & colocation provider found a new owner, Antin. Pulsant’s top-line started struggling around 2019 and the decline continued until 2021 (-4% CAGR 2018-2021). After Antin’s takeover, the company managed to generate double-digit growth figures with a +16% CAGR 2021-2023. In 2023, Pulsant generated the largest unadjusted EBITDA numbers since 2014. As such, we believe that the company is on track to further grow its top-line and improve the bottom-line given market tailwinds from growing consumer and business data consumption needs (e.g. IoT, big data).
Pulsant is a British provider of colocation & cloud infrastructure services. The company's business model revolves around offering colocation, data center services, workplace recovery, business continuity and managed services including hosting, networks, cloud and cybersecurity, enabling businesses to manage their IT infrastructure. As of August 2024, Pulsant served ~1.5k clients and owned and operated 12 data centers across the UK.
The 30-year-old business has a long PE ownership history, starting with the 2010 Bridgepoint takeover, which then sold Pulsant to Oak Hill Capital Partners and Scottish Equity Partners for ~€240m EV. In 2019, the owners attempted to sell the business at a rumored £340m but the deal was aborted. Finally, in 2021, the hosting & colocation provider found a new owner, Antin. Pulsant’s top-line started struggling around 2019 and the decline continued until 2021 (-4% CAGR 2018-2021). After Antin’s takeover, the company managed to generate double-digit growth figures with a +16% CAGR 2021-2023. In 2023, Pulsant generated the largest unadjusted EBITDA numbers since 2014. As such, we believe that the company is on track to further grow its top-line and improve the bottom-line given market tailwinds from growing consumer and business data consumption needs (e.g. IoT, big data).
Consolidators
Assets growing through an extensive buy-and-build strategy. Here are the screening criteria:
Family or PE-owned assets in Europe
In the top 5% of acquirers in their subsector
3-year FTE CAGR >25% (last reported)
Company in Spotlight
Location
United Kingdom
Industry
Software
Owner(s)
The Access Group ("Access") is a British provider of integrated business management software for mid-market companies. The group’s software provides industry-specific applications for a diversified customer base of clients operating in recruitment, education, health, manufacturing, etc.
In January 2015, TA Associates acquired the controlling stake in Access from Horizon Capital. In 2015-2018, the group doubled its top-line (from €70m revenue in 2014 to €170m in 2018), executed 11 acquisitions, entered 3 new vertical markets and grew its customer base to c.13k UK businesses and not-for-profit organizations.
In April 2018, Hg joined TA Associates as a joint owner in a deal valuing the business at €1.2bn EV and 21.0x EV/EBITDA multiple. Since then, Access’ top-line skyrocketed, reaching c. €1.4bn sales in 2023 at 63% CAGR 2020-2023, while EBITDA grew at 71% CAGR and margins improved by c.6pp. During this period, the group made >50 add-ons in the UK, Ireland and APAC, grew its customer base to >100k, expanded internationally with >40 offices in 11 countries and increased its headcount to >6,000 (vs. c.1,300 in 2018).
It comes as no surprise that in June 2022, Access received further strategic investment from Hg and TA Associates at a c.€11bn valuation. Additionally, GIC has entered as a minority shareholder in the group.
The Access Group ("Access") is a British provider of integrated business management software for mid-market companies. The group’s software provides industry-specific applications for a diversified customer base of clients operating in recruitment, education, health, manufacturing, etc.
In January 2015, TA Associates acquired the controlling stake in Access from Horizon Capital. In 2015-2018, the group doubled its top-line (from €70m revenue in 2014 to €170m in 2018), executed 11 acquisitions, entered 3 new vertical markets and grew its customer base to c.13k UK businesses and not-for-profit organizations.
In April 2018, Hg joined TA Associates as a joint owner in a deal valuing the business at €1.2bn EV and 21.0x EV/EBITDA multiple. Since then, Access’ top-line skyrocketed, reaching c. €1.4bn sales in 2023 at 63% CAGR 2020-2023, while EBITDA grew at 71% CAGR and margins improved by c.6pp. During this period, the group made >50 add-ons in the UK, Ireland and APAC, grew its customer base to >100k, expanded internationally with >40 offices in 11 countries and increased its headcount to >6,000 (vs. c.1,300 in 2018).
It comes as no surprise that in June 2022, Access received further strategic investment from Hg and TA Associates at a c.€11bn valuation. Additionally, GIC has entered as a minority shareholder in the group.
The Access Group ("Access") is a British provider of integrated business management software for mid-market companies. The group’s software provides industry-specific applications for a diversified customer base of clients operating in recruitment, education, health, manufacturing, etc.
In January 2015, TA Associates acquired the controlling stake in Access from Horizon Capital. In 2015-2018, the group doubled its top-line (from €70m revenue in 2014 to €170m in 2018), executed 11 acquisitions, entered 3 new vertical markets and grew its customer base to c.13k UK businesses and not-for-profit organizations.
In April 2018, Hg joined TA Associates as a joint owner in a deal valuing the business at €1.2bn EV and 21.0x EV/EBITDA multiple. Since then, Access’ top-line skyrocketed, reaching c. €1.4bn sales in 2023 at 63% CAGR 2020-2023, while EBITDA grew at 71% CAGR and margins improved by c.6pp. During this period, the group made >50 add-ons in the UK, Ireland and APAC, grew its customer base to >100k, expanded internationally with >40 offices in 11 countries and increased its headcount to >6,000 (vs. c.1,300 in 2018).
It comes as no surprise that in June 2022, Access received further strategic investment from Hg and TA Associates at a c.€11bn valuation. Additionally, GIC has entered as a minority shareholder in the group.
Covid Survivors
Companies that faced significant revenue decline during COVID-19 years but recovered strongly. Here are the screening criteria:
Family or PE-owned assets in Europe
Revenue declined between 10-50% in 2020 and 2021
Revenue recovered and grew by 25% in 2022 and 2023 (where reported)
EBITDA >€5m (last reported)
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investment screens
Methodology
All data in the report comes from Gain.pro and was current as of Oct 14th 2024.
Unless stated otherwise, the financial metrics in the report are last reported. Where possible, we have used 2023 metrics. In cases where 2023 numbers are still being reported, we have relied on 2022 metrics.
For the screens, we only included assets that had a hand-curated profile on Gain.pro (12-14+ hours of primary research).
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