M&A Deal Summary

Apollo Global Management Acquires Michaels

On March 3, 2021, asset manager Apollo Global Management acquired retailer Michaels for 5.0B USD

Acquisition Highlights
  • This is Apollo Global Management’s 7th transaction in the Retail sector.
  • This is Apollo Global Management’s 14th largest (disclosed) transaction.
  • This is Apollo Global Management’s 73rd transaction in the United States.
  • This is Apollo Global Management’s 11th transaction in Texas.

M&A Deal Summary

Date 2021-03-03
Target Michaels
Sector Retail
Buyer(s) Apollo Global Management
Deal Type Going Private
Deal Value 5.0B USD
Advisor(s) UBS Investment Bank (Financial)
Ropes & Gray (Legal)

Target

Michaels

Irving, Texas, United States
Michaels' corporate headquarters in Irving, Texas.
Michaels' corporate headquarters in Irving, Texas.
Michaels is a retailer of arts, crafts, framing, home decor and seasonal products for hobbyists and DIY decorators. Michaels was formed in 1983 and is based in Irving, Texas.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 103 of 140
Sector (Retail) 7 of 9
Type (Going Private) 23 of 31
State (Texas) 11 of 17
Country (United States) 73 of 101
Year (2021) 5 of 20
Size (of disclosed) 14 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-09 US Acute Care Solutions

Canton, Ohio, United States

US Acute Care Solutions is a physician-owned integrated acute care platform in the United States, providing physician staffing and management services primarily focused on the emergency department. US Acute Care Solutions serves over 9 million patients annually through over 500 programs across 29 states. US Acute Care Solutions was founded in 2015 and is based in Canton, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-10 Diamond Resorts

Las Vegas, Nevada, United States

Diamond Resorts is a provider of hospitality and management services. The company operates in two segments, Hospitality and Management Services, and Vacation Interest Sales and Financing. Diamond Resorts with its network of more than 420 vacation destinations located in 35 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australasia, and Africa, provides guests with choice and flexibility to let them create their dream vacation, whether they are traveling an hour away or around the world. Our relaxing vacations have the power to give guests an increased sense of happiness and satisfaction in their lives, while feeling healthier and more fulfilled in their relationships, by enjoying memorable and meaningful experiences that let them Stay Vacationed. Diamond Resorts was founded in 1996 and is based in Las Vegas, Nevada.

Sell $1.4B