Blackstone Credit Mergers and Acquisitions Summary

Lender Profile

In the last 3 years, Blackstone Credit has acquired 1 company. It has also invested in 3 others.

Blackstone Credit’s most common sectors for investment arelife science (9%) and machinery (9%) . The Firm’s most common investment types include secondary buyout (34%) and buyout (lbo, mbo, mbi) (17%). In total, Blackstone Credit has invested in 8 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Auctane for $6.6B.

In the last 3 years, Blackstone Credit has exited 4 companies. The Firm’s most common exit type is trade sale (55%). Blackstone Credit’s largest (disclosed) exit occurred in 2021 when it sold DoublePoint Energy for $6.4B.

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M&A Summary

  • M&A Total Activity23
    • M&A Buy Activity12
    • M&A Sell Activity11
  • Total Sectors Invested 12
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 15
  • M&A Advisors 4

Blackstone Credit

345 Park Avenue, 31st Floor,
New York, New York 10154
United States
(212) 503-2100
www.blackstone.com/our-businesses/credit/

Blackstone Credit is the lending arm of alternative asset management firm The Blackstone Group. Blackstone Credit looks to provide a variety of capital needs, including loans, high yield and investment grade bonds, structured credit, mezzanine lending, and opportunistic financings. The Blackstone Group acquired lender GSO Capital Partners in 2008 which formed the foundation for Blackstone Credit. Blackstone Credit is based in New York City.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Beverages, Business Services, Communications, Consumer Products, Consumer Services, Digital Media, E-Commerce, Energy Services and Equipment, Food, Healthcare Services, Information Technology, Internet Software and Services, Life Science, Machinery, Manufacturing, Marketing, Media, Medical Products, Oil/Gas Exploration, Real Estate, Retail, Software, Technology Hardware, Test/Measurement Equipment

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Special Situations/Distressed, Acquisition Financing, Secondary Buyout, Joint Venture

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 8 - 2 2 - - 12
vol $329M $6.6B $6.9B
Sell (1.0/yr) # 6 1 2 1 1 - 11
vol $1.5B $6.4B $7.9B
  23

Most Recent M&A

Company Date Value Type
Westland Insurance Group Ltd. 2023-04-17 - Stake Sale
Surrey, British Columbia · www.westlandinsurance.ca
Elba Liquefaction Co. LLC 2022-05-20 - Stake Purchase
Savannah, Georgia
ION Solar LLC 2022-03-08 - Growth Capital
Provo, Utah · www.ionsolar.com
XLN Telecom Ltd. 2022-02-17 - Trade Sale
London, United Kingdom · www.xlntelecom.co.uk
Auctane, Inc. 2021-07-09 6.6B USD Going Private
Austin, Texas · www.auctane.com
DoublePoint Energy 2021-04-01 6.4B USD Trade Sale
Fort Worth, Texas
Produits Jock SAS 2021-03-16 - Secondary Sale
Bordeaux, France · www.jock.fr
Westland Insurance Group Ltd. 2021-01-01 - Growth Capital
Surrey, British Columbia · www.westlandinsurance.ca
Fairway Group Holdings Corp. 2020-01-20 - Bankruptcy
New York, New York · www.fairwaymarket.com
LindFast Solutions Group 2019-04-08 - Buyout (LBO, MBO, MBI)
Blaine, Minnesota · www.lindstromfasteners.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 1 (20%) 6.6B (100%) 1 (8%) 6.6B (95%)
Plastics - - 1 (8%) 175M (3%)
Communications - - 1 (8%) 154M (2%)
Chemicals - - 1 (8%) -
Distribution 1 (20%) - 1 (8%) -
Energy Services and Equipment 1 (20%) - 1 (8%) -
Insurance - - 1 (8%) -
Life Science - - 1 (8%) -
Machinery - - 1 (8%) -
Oil/Gas Exploration 1 (20%) - 1 (8%) -
Renewable Energy 1 (20%) - 1 (8%) -
Retail - - 1 (8%) -
Total 5 $6.6B 12 $6.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 5 (100%) 6.6B (100%) 9 (75%) 6.8B (98%)
  Texas 2 (40%) 6.6B (100%) 2 (17%) 6.6B (95%)
  Minnesota 1 (20%) - 1 (8%) -
  Georgia 1 (20%) - 1 (8%) -
  Utah 1 (20%) - 1 (8%) -
  Ohio - - 1 (8%) 175M (3%)
  New York - - 1 (8%) -
  Florida - - 1 (8%) -
  Colorado - - 1 (8%) -
United Kingdom - - 2 (17%) 154M (2%)
Canada - - 1 (8%) -
  British Columbia - - 1 (8%) -
Total 5 $6.6B 12 $6.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout - - 4 (33%) 154M (2%)
Buyout (LBO, MBO, MBI) 1 (20%) - 2 (17%) 175M (3%)
Growth Capital 1 (20%) - 2 (17%) -
Going Private 1 (20%) 6.6B (100%) 1 (8%) 6.6B (95%)
Joint Venture 1 (20%) - 1 (8%) -
Special Situations/Distressed - - 1 (8%) -
Stake Purchase 1 (20%) - 1 (8%) -
Total 5 $6.6B 12 $6.9B

Exits by Deal Type

Type Total # Value
Trade Sale 4 (36%) 51M (1%)
Secondary Sale 3 (27%) 1.0B (13%)
Trade Sale - Public Company 2 (18%) 6.9B (87%)
Bankruptcy 1 (9%) -
Stake Sale 1 (9%) -
Total 11 $7.9B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities
 1
Legal Deals
White & Case
 2
Milbank LLP
 1
Ashurst LLP
 1

Deal Values

buy # Total
> $1B 1 $6.6B
$100M to $1B 2 $329M
TOTAL $6.9B
Largest Auctane, Inc.
$6.6B (2021-07-09)
sell # Total
> $1B 2 $7.4B
$100M to $1B 1 $486M
< $100M 1 $51M
TOTAL $7.9B
Largest DoublePoint Energy
$6.4B (2021-04-01)

M&A Connections

Deals
Acquired from
Investor(s)
42%
5 (42%)
Exited to
Investor(s)
27%
3 (27%)
Strategic(s)
64%
7 (64%)

Investor Summary

Investor Type

Lender

Size

Mega

Established

2004

Specialist/Generalist

Generalist

Subsidiary of

The Blackstone Group

Leadership

Stephen Schwarzman

Chairman, CEO & Co-Founder

Dwight Scott

Global Head of Credit

Joseph Baratta

Global Head of Private Equity

Jonathan Gray

President & COO

Adam Dwinells

Senior Managing Director

FAQ

When was Blackstone Credit founded?

Blackstone Credit was founded in 2004.

What type of investor is Blackstone Credit?

Blackstone Credit is a lender.

Where is Blackstone Credit headquartered?

Blackstone Credit is headquartered in New York, New York.

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