M&A Deal Summary

The Blackstone Group Acquires Haynes International

On January 1, 1997, private equity firm The Blackstone Group acquired metals/mining company Haynes International from Long Point Capital for 241M USD

Acquisition Highlights
  • This is The Blackstone Group’s 2nd transaction in the Metals/Mining sector.
  • This is The Blackstone Group’s 140th largest (disclosed) transaction.
  • This is The Blackstone Group’s 16th transaction in the United States.
  • This is The Blackstone Group’s 1st transaction in Indiana.
Investment Fate
  • Haynes International went bankrupt in 2004.
  • Haynes International was sold to a strategic buyer in 2024 for 970M USD.

M&A Deal Summary

Date 1997-01-01
Target Haynes International
Sector Metals/Mining
Buyer(s) The Blackstone Group
Sellers(s) Long Point Capital
Deal Type Secondary Buyout
Deal Value 241M USD

Target

Haynes International

Kokomo, Indiana, United States
website
Haynes International is a developer, manufacturer and marketer of technologically advanced, nickel- and cobalt-based high-performance alloys, primarily for use in the aerospace, chemical processing and land-based gas turbine industries. Haynes International was founded in 1912 and is based in Kokomo, Indiana.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website


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 City.


DEAL STATS #
Overall 20 of 319
Sector (Metals/Mining) 2 of 3
Type (Secondary Buyout) 1 of 72
State (Indiana) 1 of 3
Country (United States) 16 of 201
Year (1997) 1 of 6
Size (of disclosed) 140 of 167
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-08-01 Prime Succession

Whittier, California, United States

Prime Succession and Rose Hills operated funeral homes and cemeteries in the U.S.

Buy $608M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-04-01 Corp Group

United States

Corp Group owned the 6th and 8th largest banks in Venezuela and Chile, respectively.

Buy $750M

Seller(S) 1

SELLER

Long Point Capital

Royal Oak, Michigan, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 315M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Long Point Capital is a private equity firm that targets investments in mid-sized North American companies where current management looks to continue on with the business. Sectors of interest include manufacturing, distribution, and services. Long Point prefers to be the lead investor and looks for businesses generating sales of $30 to $200 million and EBITDA of at least $5 million. Prospective transaction types include recapitalizations, growth equity investments, industry consolidations, generational ownership changes, and management buyouts. Long Point was formed in 1998 and is based in Royal Oak, Michigan with an additional office in New York City.


DEAL STATS #
Overall 1 of 21
Sector (Metals/Mining) 1 of 1
Type (Secondary Buyout) 1 of 11
State (Indiana) 1 of 1
Country (United States) 1 of 20
Year (1997) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-05-01 Broadcasting Partners Holdings

New York, New York, United States

Broadcasting Partners Holdings LP is the twenty-fifth-largest radio group in the U.S. Owned and operated 37 radio stations in 12 markets including Buffalo, NY, Syracuse, NY and Atlantic City, NJ. The company was sold to EvergreenMedia Corporation. Broadcasting Partners Holdings, L.P. was acquired by Citadel Communications Corp in 1999.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-09-01 Trulite Glass & Aluminum Solutions

Peachtree City, Georgia, United States

Trulite Glass & Aluminum Solutions is an architectural glass and aluminum fabricator. Trulite distributes and manufactures architectural aluminum, insulated units, mirrors, tempered, laminated and decorative glass from their 35 locations throughout the U.S. and Canada. Trulite Glass & Aluminum Solutions was formed in 1978 and is headquartered in Peachtree City, Georgia.

Buy -