Private Equity Firm Financial Services

BDT & MSD Partners

Chicago, Illinois, United States

Formerly known as BDT & MSD Partners (affiliated credit funds), BDT & MSD Partners (affiliated funds), BDT Capital Partners

Merchant bank with an advisory and investment platform built to serve business owners and strategic, long-term investors, providing long-term capital through affiliated investment vehicles.

Focus Areas
Merchant banking / private capital, Advisory and investment platform
Website
bdtmsd.com

Tracked deals

16

16 tracked deals across 2021-2025.

Recent pace

2

2 tracked deals announced in the last 12 months.

Deal mix

Buyout

8 buyout · 5 growth capital · 2 recapitalization

BDT & MSD Partners Acquisition Volume by Year

Last 5 years

Acquisition volume by year Annual acquisition counts for the last 5 years for BDT & MSD Partners. 3 2021 1 2022 6 2023 2 2024 4 2025

Supporting Data

Recent Transactions

Showing the 12 most recent of 16 tracked deals for BDT & MSD Partners.

  • Buyer
    Exos, BDT & MSD Partners, Madrone Capital Partners
    Target
    Infinite Athlete, Biocore
    Type
    Buyout

    Exos has acquired sports technology company Infinite Athlete and its subsidiary Biocore, bringing the businesses under the Exos brand to expand the company's tech-enabled human performance capabilities. The deal is backed by private equity investors BDT & MSD Partners and Madrone Capital Partners and combines Exos' coaching and workplace performance platform with Infinite Athlete's AI-driven data science and Biocore's biomechanical engineering and testing.

  • Buyer
    Designs for Health, BDT & MSD Partners (affiliated funds)
    Target
    Designs for Health
    Seller
    RoundTable Healthcare Partners

    Designs for Health repurchased RoundTable Healthcare Partners' minority stake and simultaneously received a new minority investment from affiliated funds of BDT & MSD Partners to support continued growth. Terms were not disclosed; the transaction returns full control/ownership to the Lizotte family while bringing in new capital for expansion.

  • Buyer
    BDT & MSD Partners, Goldman Sachs Alternatives, KKR Credit
    Target
    DBG Global Enterprises Pty Ltd (DBG Health)
    Location
    Australia

    DBG Global Enterprises Pty Ltd (DBG Health) announced a definitive agreement for BDT & MSD Partners to make a significant minority investment in the company. The deal also includes a major debt refinancing commitment from Goldman Sachs Alternatives and KKR Credit to accelerate DBG’s global growth plans.

  • Buyer
    BDT & MSD Partners, BlackRock Long Term Private Capital
    Target
    Summit Companies (SFP Holding, Inc.)
    Seller
    BlackRock Long Term Private Capital (BlackRock LTPC)
    Type
    Buyout

    BDT & MSD Partners, through its affiliated funds, entered into a definitive agreement to acquire a majority stake in Summit Companies. Summit Founder and President Quint Rubald, CEO Jeff Evrard, and the management team will remain shareholders and continue leading the fire and life safety services platform.

  • Buyer
    AlphaSense, Viking Global Investors, BDT & MSD Partners, J.P. Morgan Growth Equity Partners, SoftBank Vision Fund 2, Blue Owl Capital, Alkeon Capital, Alphabet's CapitalG, Goldman Sachs Alternatives
    Target
    Tegus
    Industry
    Data & Analytics
    Type
    Buyout

    AlphaSense, a market intelligence and AI search platform, has closed its $930 million acquisition of Tegus, an end-to-end research platform providing expert research, private company content, financial data, and workflow tools. The deal also included AlphaSense’s concurrent $650 million funding round, valued at a $4 billion post-transaction valuation.

  • Buyer
    BDT & MSD Partners (through affiliated hospitality investment vehicle)
    Target
    Auberge Resorts Collection
    Seller
    The Friedkin Group

    BDT & MSD Partners, via its affiliated hospitality investment vehicle, will make a minority investment in Auberge Resorts Collection, the manager and brand of a portfolio of luxury hotels, resorts, residences and private clubs. The capital will also be used to acquire and develop luxury hotel and residential assets to be branded and managed by Auberge, supporting the group's strategic growth across the Americas, Europe and beyond.

  • Buyer
    Metropolis Technologies, Inc., Eldridge, 3L Capital, BDT & MSD Partners (affiliated credit funds), Vista Credit Partners, Temasek, Slow Ventures, Assembly Ventures
    Target
    SP Plus Corporation
    Industry
    Transportation
    Type
    Buyout

    Metropolis Technologies agreed to acquire SP Plus Corporation for $54.00 per share in cash, implying an enterprise value of approximately $1.5 billion. The transaction is financed with $1.7 billion of committed equity and debt financing led by Eldridge and 3L Capital (among others) and is expected to close in 2024, subject to regulatory and shareholder approvals.

  • Buyer
    BDT & MSD Partners
    Target
    IMA Group
    Seller
    BC Partners, Other investors
    Industry
    Manufacturing
    Location
    Emilia-Romagna, Italy

    BDT & MSD Partners will make a minority investment in IMA Group, acquiring its position from BC Partners and other investors while the Vacchi family remains majority owner. The capital injection is intended to accelerate IMA's global growth — including expansion in the U.S. — and support capability development in sustainable packaging and automation.

  • Buyer
    Silver Lake, Canada Pension Plan Investment Board (CPP Investments), Accel, BDT & MSD Partners, DFO Management (family investment office of Michael Dell)
    Target
    Qualtrics
    Seller
    SAP SE
    Industry
    Cloud & SaaS
    Type
    Buyout

    Silver Lake, in partnership with Canada Pension Plan Investment Board (CPP Investments) and several co-investors including Accel, BDT & MSD Partners and DFO Management, completed a transaction to take Qualtrics private in a deal valuing the company at approximately $12.5 billion. The investors acquired 100% of outstanding shares (including SAP’s majority stake) for $18.15 per share to support Qualtrics’ continued product and AI-driven growth as an independent, privately held enterprise cloud software platform.

  • Buyer
    Nation Safe Drivers, BDT Capital Partners
    Target
    Questx
    Seller
    WILsquare Capital
    Industry
    Transportation
    Type
    Addon

    Nation Safe Drivers (a BDT Capital Partners-backed platform) has combined with Questx, a tech-enabled national provider of emergency roadside assistance and auto glass claims solutions. WILsquare Capital exited its investment in Questx after a five-year hold; terms were not disclosed. The combination creates a larger, tech-forward leader in roadside assistance and mobility services for the insurance market.

  • Buyer
    BDT Capital Partners, Leonard Green & Partners
    Target
    ProMach
    Industry
    Manufacturing

    Funds managed by BDT Capital Partners have entered into a definitive agreement to acquire a significant stake in ProMach alongside existing majority owner Leonard Green & Partners, which will invest new capital. The transaction (terms undisclosed) is expected to close in the second half of 2023 and supports ProMach's continued growth in processing and packaging machinery and systems integration.

  • Buyer
    BDT Capital Partners, LLC
    Target
    Exyte
    Location
    Baden-Württemberg, Germany

    Funds affiliated with BDT Capital Partners acquired a significant minority interest in Exyte, a global engineering, design and construction firm for high‑tech facilities. The transaction closed after customary approvals; the Stumpf Group retains a majority stake and the capital will support Exyte’s long‑term growth plans as it pursues €10 billion in sales by 2027.

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