M&A Deal Summary

Station Casinos Acquires FP Holdings

On May 10, 2016, Station Casinos acquired gaming company FP Holdings from Leonard Green & Partners and TPG for 313M USD

Acquisition Highlights
  • This is Station Casinos’ 1st transaction in the Gaming sector.
  • This is Station Casinos’ largest (disclosed) transaction.
  • This is Station Casinos’ 1st transaction in the United States.
  • This is Station Casinos’ 1st transaction in Nevada.

M&A Deal Summary

Date 2016-05-10
Target FP Holdings
Sector Gaming
Buyer(s) Station Casinos
Sellers(s) Leonard Green & Partners
TPG
Deal Type Add-on Acquisition
Deal Value 313M USD
Advisor(s) Macquarie Capital (Financial)
Willkie Farr & Gallagher (Legal)

Target

FP Holdings

Las Vegas, Nevada, United States
website
Palms Casino Resort is a 37-acre Las Vegas hotel & casino consisting of The Palms Casino Resort (420 rooms, 1,874 slots and 69 table games), The Fantasy Tower (285 rooms and new pool and concert venue) and Palms Place (599 condos). Palms Casino Resort was formed in 2001 and is based in Las Vegas, Nevada.

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Buyer(S) 1

Buyer

Station Casinos

Las Vegas, Nevada, United States

website


Category Company
Sector Gaming
DESCRIPTION

Station Casinos, the leader in Las Vegas "locals" gaming business and premier Native American gaming management company.


DEAL STATS #
Overall 1 of 1
Sector (Gaming) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Nevada) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 27 of 52
Sector (Gaming) 1 of 1
Type (Add-on Acquisition) 6 of 10
State (Nevada) 1 of 1
Country (United States) 26 of 49
Year (2016) 2 of 3
Size (of disclosed) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-05 MultiPlan

New York, New York, United States

MultiPlan is a provider of technology-enabled healthcare cost management solutions. The company provides a single gateway to a host of analytics- and network-based solutions for managing the financial risks associated with medical claims, as well as solutions that improve payment integrity by resolving waste, abuse and fraud before payments are made. MultiPlan was founded in 1980 and is based in New York city.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-25 Signet Jewelers

Hamilton, Bermuda

Signet Jewelers is engaged in the retail sale of jewelry and watches in the United States, the United Kingdom, the Republic of Ireland, and the Channel Islands. Signet Jewelers is based in Hamilton, Bermuda.

Buy -
SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 154 of 245
Sector (Gaming) 2 of 2
Type (Add-on Acquisition) 59 of 89
State (Nevada) 2 of 2
Country (United States) 112 of 182
Year (2016) 4 of 9
Size (of disclosed) 56 of 71
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 Vertafore

Denver, Colorado, United States

Vertafore, Inc. is a cloud-based software that provides agency management, compliance, workflow, and data solutions that simplify and automate the complex property and casualty (“P&C”) insurance lifecycle. More than 20,000 agencies and 1,000 insurance carriers rely on Vertafore to streamline their processes, improve efficiency, and drive productivity. Vertafore, Inc. was founded in 1969 and is based in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-24 Albireo

Boston, Massachusetts, United States

Albireo is a rare disease company focused on the development of novel bile acid modulators to treat pediatric and adult liver diseases. Albireo’s lead product, Bylvay, was approved by the U.S. FDA as the first drug for the treatment of pruritus in all types of progressive familial intrahepatic cholestasis (PFIC), and in Europe for the treatment of PFIC. Bylvay is also being developed to treat other rare pediatric cholestatic liver diseases with a completed Phase III trial in ALGS, an ongoing Phase III study in biliary atresia, as well as Open-label Extension (OLE) studies for PFIC and ALGS. The company has also completed a Phase I clinical trial for A3907 to advance development in adult cholestatic liver disease, with IND-enabling studies progressing with A2342 for viral and cholestatic liver disease. Albireo was spun out from AstraZeneca in 2008 and is headquartered in Boston, Massachusetts, with its key operating subsidiary in Gothenburg, Sweden.

Sell -