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  6. The Blackstone Group Acquires Cloverleaf Cold Storage

M&A Deal Summary

The Blackstone Group Acquires Cloverleaf Cold Storage

On November 13, 2017, private equity firm The Blackstone Group acquired real estate company Cloverleaf Cold Storage

Acquisition Highlights
  • This is The Blackstone Group’s 7th transaction in the Real Estate sector.
  • This is The Blackstone Group’s 142nd transaction in the United States.
  • This is The Blackstone Group’s 1st transaction in Iowa.
Investment Fate
  • Cloverleaf Cold Storage was sold to a publicly-traded strategic buyer in 2019.

M&A Deal Summary
Date 2017-11-13
Target Cloverleaf Cold Storage
Sector Real Estate
Buyer(s) The Blackstone Group
Deal Type Recapitalization
Advisor(s) Wells Fargo Securities (Financial)
Katten Muchin Rosenman (Legal)

Target

Cloverleaf Cold Storage

Sioux City, Iowa, United States
Cloverleaf Cold Storage is a family owned cold storage warehouse and processing company. Cloverleaf Cold was founded in 1952 and is now the 8th largest public refrigerated warehouse company in North America, as reported by the International Association of Refrigerated Warehouses, an industry trade group. Cloverleaf Cold has operations in eight states from the Midwest to the Southeastern US.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.

DEAL STATS #
Overall 230 of 347
Sector (Real Estate) 7 of 11
Type (Recapitalization) 3 of 5
State (Iowa) 1 of 2
Country (United States) 142 of 217
Year (2017) 16 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-25 Alliance Industrie SA

Paris, France

Alliance Industrie SA is a parts distribution platform in Europe, with a focus on light vehicle and commercial vehicle replacement parts. Alliance Industrie SA was formed in 1991 and is based in Paris.

Sell $2.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-15 ShyaHsin Packaging

Jiangsu, China

ShyaHsin Packaging designs, develops, manufactures and distributes cosmetics packaging containers. ShyaHsin Packaging was established in 1970 and is based in Jiangsu, China.

Buy -
Mergr

Product

Company

Legal