M&A Deal Summary

PAG Capital Partners and Ninestar Acquire Lexmark International

On April 19, 2016, private equity firm PAG Capital Partners and Ninestar acquired technology hardware company Lexmark International for 4.0B USD

Acquisition Highlights
  • This is PAG Capital Partners’ 1st and Ninestar’s 1st transaction in the Technology Hardware sector.
  • This is PAG Capital Partners’ and Ninestar’s largest (disclosed) transaction.
  • This is PAG Capital Partners’ 4th and Ninestar’s 1st transaction in the United States.
  • This is PAG Capital Partners’ 1st and Ninestar’s 1st transaction in Kentucky.

M&A Deal Summary

Date 2016-04-19
Target Lexmark International
Sector Technology Hardware
Buyer(s) PAG Capital Partners
Ninestar
Deal Type Going Private
Deal Value 4.0B USD
Advisor(s) Goldman Sachs Investment Banking Division (Financial)
Wachtell, Lipton, Rosen & Katz LLP (Legal)

Target

Lexmark International

Lexington, Kentucky, United States
website
Lexmark International, Inc. is a manufacturer and supplier of printing, imaging, device management, managed print services (MPS), document workflow, and business process and content management solutions. Lexmark International was founded in 1990 and is based in Lexington, Kentucky.

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Buyer(S) 2

Buyer

PAG Capital Partners

Chicago, Illinois, United States

Investor Investor Investor

website


Category Private Equity Firm
Founded 2009
SizeSmall
Type Sector Agnostic
DESCRIPTION

PAG Capital Partners LLC is an operationally oriented private investment firm focused on acquiring lower middle market companies throughout North America. PAG seeks companies with proven business models, sustainable free cash flows, growth opportunities (organic and acquisitions), and defensible market positions. The Firm generally looks for businesses with up to $75 million in revenue and at least $1 million in EBITDA. Areas of interest include consumer products, manufacturing, distribution, and business/consumer services. Types of transactions include leveraged acquisitions, recapitalizations and growth capital financings. PAG Capital Partners LLC is a subsidiary of The Peakstone Group. PAG Capital Partners LLC was formed in 2009 and is based in Chicago.


DEAL STATS #
Overall 4 of 4
Sector (Technology Hardware) 1 of 1
Type (Going Private) 1 of 1
State (Kentucky) 1 of 1
Country (United States) 4 of 4
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-03 MMAWarehouse

Wheeling, Illinois, United States

MMAWarehouse LLC is a mixed martial arts retailer in the world. MMAWarehouse offers a broad selection of the latest MMA clothing and MMA gear, detailed descriptions and images, customer reviews, and exclusive offerings. MMA Warehouse was formed in 2004 and is based in Wheeling, Illinois.

Buy -
Buyer

Ninestar

Zhuhai, China

website


Category Company
Founded 2000
SectorSemiconductors
Employees21,787
Revenue 22.8B CNY (2021)
DESCRIPTION

Ninestar is a manufacturer and systematic solution provider for the global aftermarket imaging supplies channel. Ninestar offers inkjet/laserjet cartridge chips and cost-saving solutions for worldwide remanufacturers and distributors. Ninestar was founded in 2004 and is based in Zhuhai, China.


DEAL STATS #
Overall 1 of 1
Sector (Technology Hardware) 1 of 1
Type (Going Private) 1 of 1
State (Kentucky) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1