M&A Deal Summary

SoftBank Acquires Brightstar

On October 18, 2013, SoftBank acquired distribution company Brightstar from Onex Falcon and Lindsay Goldberg for 1.3B USD

Acquisition Highlights
  • This is SoftBank’s 1st transaction in the Distribution sector.
  • This is SoftBank’s 5th largest (disclosed) transaction.
  • This is SoftBank’s 3rd transaction in the United States.
  • This is SoftBank’s 1st transaction in Florida.
Investment Fate
  • Brightstar was divested to a consortium of buyers in 2020.

M&A Deal Summary

Date 2013-10-18
Target Brightstar
Sector Distribution
Buyer(s) SoftBank
Sellers(s) Onex Falcon
Lindsay Goldberg
Deal Type Add-on Acquisition
Deal Value 1.3B USD
Advisor(s) Goldman Sachs Investment Banking Division (Financial)
Cleary Gottlieb Steen & Hamilton LLP
K&L Gates LLP (Legal)

Target

Brightstar

Miami, Florida, United States
website
Brightstar Corp. is a specialized wireless distributor and a leading provider of diversified services focused on enhancing the performance and results of the key participants in the wireless device value chain: manufacturers, operators and retailers. Brightstar was founded in 1997 and is based in Miami, Florida.

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Buyer(S) 1

Buyer

SoftBank

Tokyo, Japan

website


Category Company
Founded 1981
Sector Diversified
Employees80,909
Revenue 6,185.1B JPY (2020)
DESCRIPTION

SoftBank is a diversified telecommunications and internet corporation, with operations in broadband, fixed-line telecommunications, e-commerce, Internet, broadmedia, technology services, finance, media and marketing, and other businesses. SoftBank was founded in 1981 and is based in Tokyo, Japan.


DEAL STATS #
Overall 10 of 24
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 6 of 13
State (Florida) 1 of 2
Country (United States) 3 of 11
Year (2013) 2 of 2
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Supercell Oy

Helsinki, Finland

Supercell is a mobile game company headquartered in Finland. Their two game apps, Clash of Clans and Hay Day, reached the top position in “Top Grossing” ranking of Apple’s App Store in 137 countries and 96 countries, respectively. From February 2013 to August 2013, Supercell was the No.1 publisher in the world among the apps in the Games category of the App Store. The Finnish company has become the one of the leading proponents of ‘freemium games’, which cost nothing to buy but players spend money to speed up the action.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-14 DramaFever

New York, New York, United States

DramaFever Corp. is an Internet video-on-demand player that specializes in international TV shows and movies.

Buy -

Seller(S) 2

SELLER

Onex Falcon

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Onex Falcon is a mezzanine finance firm that provides junior capital for North American businesses. Falcon looks to provide $30 to $150 million of subordinated debt to companies with EBITDA of at least $10 million. Falcon has no specific industry focus. Investment proceeds are typically used to support LBOs/MBOs, growth and acquisition financings, restructuring, recapitalizations, take privates, and generational ownership transfers. Onex Falcon was formed in 2000 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 17 of 35
Sector (Distribution) 2 of 2
Type (Add-on Acquisition) 7 of 15
State (Florida) 2 of 5
Country (United States) 17 of 35
Year (2013) 5 of 5
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-09 Jason

Milwaukee, Wisconsin, United States

Jason is a manufacturer of seating, finishing, components, and automotive acoustic products. Jason Industries was founded in 1887 and is based in Milwaukee, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-24 LVI Services

New York City, New York, United States

LVI Services, Inc. is a provider of cost-effective, schedule-efficient, high quality environmental remediation and facility services.

Sell -
SELLER

Lindsay Goldberg

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lindsay Goldberg is a large private equity firm that targets investments in traditional, basic industries. Lindsay looks to commit $50 to $250 million per transaction in sectors that include basic & commodity manufacturing, financial services, food, and distribution. Lindsay looks to partner with management in pursuing transactions. Lindsay Goldberg was formerly known as Lindsay Goldberg & Bessemer. The Firm was formed in 2001 and is based in New York City.


DEAL STATS #
Overall 16 of 39
Sector (Distribution) 3 of 4
Type (Add-on Acquisition) 4 of 11
State (Florida) 2 of 6
Country (United States) 13 of 31
Year (2013) 4 of 5
Size (of disclosed) 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-12 Ambulatory Services of America

Brentwood, Tennessee, United States

Ambulatory Services of America, Inc. provides health care services in alternate-site settings and in partnership with physicians, with a focus on renal dialysis and radiation oncology.  The company was founded in 2006 by former senior executives of Renal Care Group and is actively focused on growth through new development and acquisitions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-23 Scandza AS

Oslo, Norway

Scandza AS is a food and beverage business services provider. Scandza portfolio of Scandinavian iconic brands have enabled to take leading positions within cheese, yogurt and potato chips in Norway, as well as hot-dogs and baked goods in Scandinavia. Scandza AS was founded in 2008 and is based in Oslo, Norway.

Sell -