M&A Deal Summary

Paulson Acquires Steinway & Sons

On August 14, 2013, hedge fund Paulson acquired consumer products company Steinway & Sons for 512M USD

Acquisition Highlights
  • This is Paulson’s 1st transaction in the Consumer Products sector.
  • This is Paulson’s 2nd largest (disclosed) transaction.
  • This is Paulson’s 1st transaction in Germany.

M&A Deal Summary
Date 2013-08-14
Target Steinway & Sons
Sector Consumer Products
Buyer(s) Paulson
Deal Type Going Private
Deal Value 512M USD
Advisor(s) Allen & Company (Financial)
Skadden, Arps, Slate, Meagher & Flom
Gibson, Dunn & Crutcher (Legal)

Target

Steinway & Sons

Hamburg, Germany
website
Steinway & Sons is a designer and manufacturer of digital sound systems; and provides piano restoration services. Steinway sells its products through dealers. Steinway & Sons was founded in 1853 and is based in Hamburg, Germany.

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Buyer(S) 1

Buyer

Paulson

Investor Investor Investor

website

Category Hedge Fund
Founded 1994
PE ASSETS 8.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Paulson & Co. Inc. is a diversified investment management firm focused on a variety of strategies. Paulson & Co. Inc. was formed in 1994 and is headquartered in New York City.

DEAL STATS #
Overall 2 of 3
Sector (Consumer Products) 1 of 1
Type (Going Private) 1 of 1
Country (Germany) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-08 Extended Stay America

Charlotte, North Carolina, United States

Extended Stay America is an operator of moderate-price extended-stay hotels in North America, with 600+ hotels and approximately 76,000 rooms located in 44 states and Canada. The Company currently operates under five brands in the extended-stay segment: Extended Stay Deluxe, Extended Stay America, Homestead Studio Suites, StudioPlus and Crossland. Extended Stay America is headquartered in Charlotte, North Carolina.

Buy $3.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-13 Extended Stay America

Charlotte, North Carolina, United States

Extended Stay America is an operator of moderate-price extended-stay hotels in North America, with 600+ hotels and approximately 76,000 rooms located in 44 states and Canada. The Company currently operates under five brands in the extended-stay segment: Extended Stay Deluxe, Extended Stay America, Homestead Studio Suites, StudioPlus and Crossland. Extended Stay America is headquartered in Charlotte, North Carolina.

Sell -
Mergr

Product

Company

Legal