M&A Deal Summary

Dalian Wanda Group Co Acquires AMC

On May 21, 2012, Dalian Wanda Group Co acquired media company AMC from Sandler Capital Management, Weston Presidio, Bain Capital Private Equity, The Carlyle Group, CCMP Capital and Spectrum Equity for 2.6B USD

Acquisition Highlights
  • This is Dalian Wanda Group Co’s 1st transaction in the Media sector.
  • This is Dalian Wanda Group Co’s 2nd largest (disclosed) transaction.
  • This is Dalian Wanda Group Co’s 1st transaction in the United States.
  • This is Dalian Wanda Group Co’s 1st transaction in Kansas.
Investment Fate
  • AMC went public in 2013.

M&A Deal Summary

Date 2012-05-21
Target AMC
Sector Media
Buyer(s) Dalian Wanda Group Co
Sellers(s) Sandler Capital Management
Weston Presidio
Bain Capital Private Equity
The Carlyle Group
CCMP Capital
Spectrum Equity
Deal Type Add-on Acquisition
Deal Value 2.6B USD
Advisor(s) Citigroup Investment Banking (Financial)
Weil Gotshal & Manges (Legal)

Target

AMC

Leawood, Kansas, United States
AMC is a theatrical exhibition company. The Company operates more then 400 locations across North America and China. AMC was incorporated in 1920 and is based in Leawood, Kansas.

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Buyer(S) 1

Buyer

Dalian Wanda Group Co

Beijing, China

Category Company
Founded 1988
Sector Real Estate
Revenue 6.3B USD (2013)
DESCRIPTION

Dalian Wanda Group was founded in 1988 and operates in four major industries - commercial property, luxury hotels, culture & tourism, and department stores. In 2013, the company’s assets totaled 380 billion yuan ($62.8 billion), its annual income reached 186.6 billion yuan ($30.8 billion) and net profits exceeded 12.5 billion yuan ($2.06 billion).


DEAL STATS #
Overall 1 of 6
Sector (Media) 1 of 4
Type (Add-on Acquisition) 1 of 5
State (Kansas) 1 of 1
Country (United States) 1 of 4
Year (2012) 1 of 1
Size (of disclosed) 2 of 5
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-18 AMC

Leawood, Kansas, United States

AMC is a theatrical exhibition company. The Company operates more then 400 locations across North America and China. AMC was incorporated in 1920 and is based in Leawood, Kansas.

Sell -

Seller(S) 6

SELLER

Sandler Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sandler Capital Management is a private investment firm that manages both hedge funds and private equity funds. Sandler's private equity practice was established in 1990, which targets investments in the media, communications, entertainment and marketing/information services sectors. Sandler will consider minority or majority positions and has a target investment size of $5 to $60 million per transaction. Sandler Capital is based in New York City.


DEAL STATS #
Overall 7 of 10
Sector (Media) 1 of 1
Type (Add-on Acquisition) 6 of 8
State (Kansas) 1 of 1
Country (United States) 6 of 9
Year (2012) 1 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-05 Discover Media

New York, New York, United States

Discover Media LLC is a provider of science magazines, covering new technologies, medical breakthroughs and other scientific fields.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-01 Wave Broadband

Kirkland, Washington, United States

Wave Broadband LLC is a provider of industry major high-speed internet, all-digital TV and phone services for residential, small/medium and Enterprise business customers. PC Magazine’s Readers’ Choice Award named RCN one of the winners for best ISPs in 2013, 2015 and 2016 – RCN was rated highest in overall satisfaction. RCN is YouTube HD Verified, earning the company the highest-ranking that Google offers. RCN is also a Netflix Open Connect partner, placing in the Top rankings on the Netflix USA ISP Speed Index in the markets RCN serves. RCN's affordably priced advanced digital services are delivered through its proprietary, state-of-the-art fiber-rich network and supported by 100% U.S.-based customer service. RCN's primary service areas include Boston, Chicago, Lehigh Valley (PA), New York City, Philadelphia (Delaware County) and Washington, DC.

Sell -
SELLER

Weston Presidio

Boston, Massachusetts, United States

Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Weston Presidio is a private investment firm focused on providing growth capital to later stage companies. The Firm looks to commit $10 to $50 million per investment to support growth initiatives, recapitalizations, and management-led buyouts. Sectors of interest include consumer products/services, business services, manufacturing and industrial, media/publishing, healthcare and technology. The Firm prefers to act as the lead investor, but will consider investing in select non-control minority positions. Weston Presidio was formed in 1991 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 36 of 52
Sector (Media) 1 of 1
Type (Add-on Acquisition) 18 of 23
State (Kansas) 1 of 1
Country (United States) 34 of 49
Year (2012) 1 of 2
Size (of disclosed) 2 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-25 SquareTrade

San Francisco, California, United States

SquareTrade, Inc. is a developer of software products to protects mobile devices, laptops and tablets, and other consumer electronics and appliances from malfunctions, accidental damage and life’s frequent mishaps.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-05 Party City

Woodcliff Lake, New Jersey, United States

Party City is a designer, manufacturer, contract for manufacture and distributes party goods, including paper and plastic tableware, metallic balloons, accessories, novelties, gifts and stationery. Party City was founded in 1947 and is based in Woodcliff Lake, New Jersey.

Sell $2.7B
SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 41 of 147
Sector (Media) 5 of 8
Type (Add-on Acquisition) 11 of 40
State (Kansas) 1 of 1
Country (United States) 30 of 85
Year (2012) 2 of 5
Size (of disclosed) 11 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-14 Bravida

Stockholm, Sweden

Bravida is a Nordic provider of sustainable end-to-end solutions for electrical systems, heating and plumbing, HVAC and other technical functions in properties and facilities. The Company has branches in around 180 locations across Sweden, Norway, Denmark and Finland. Bravida was founded in 1922 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-30 Altium Packaging

Atlanta, Georgia, United States

Altium Packaging is a customer-centric packaging solutions provider and manufacturer. Altium specializes in customized mid- and short-run packaging solutions, serving a diverse customer base in the pharmaceutical, dairy, household chemicals, food/nutraceuticals, industrial/specialty chemicals, water, and beverage/juice segment. Altium Packaging is based in Atlanta, Georgia.

Buy $800M
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 201 of 480
Sector (Media) 7 of 13
Type (Add-on Acquisition) 98 of 197
State (Kansas) 2 of 2
Country (United States) 135 of 259
Year (2012) 12 of 29
Size (of disclosed) 16 of 135
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-20 Vubiquity - Avail-TVN

Reston, Virginia, United States

Vubiquity, Inc. - Avail-TVN is a provider of digital video services. Working with both service providers and content owners, Avail-TVN is focused on providing its global customer base solutions that simplify content management and distribution, and enable the monetization of content. Vubiquity, Inc. - Avail-TVN is based in Reston, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-01 Guangxi Nanning Waterworks

Nanning, China

Guangxi Nanning Waterworks provides water distribution and sewage treatment services. Guangxi Nanning Waterworks was founded in 2006 and is based in Nanning, China.

Buy -
SELLER

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.


DEAL STATS #
Overall 57 of 78
Sector (Media) 7 of 8
Type (Add-on Acquisition) 17 of 22
State (Kansas) 2 of 2
Country (United States) 47 of 61
Year (2012) 3 of 4
Size (of disclosed) 4 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-30 Milacron Holdings

Cincinnati, Ohio, United States

Milacron Holdings Corp. provides plastics processing equipment, technologies, and services. It offers hot runner systems, temperature controllers, and auxiliary equipment; and mold bases, mold components, cold runner systems, and control systems for the plastics industry. Milacron Holdings was founded in 2000 and is based in Cincinnati, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-12 Waco International

Johannesburg, South Africa

Waco International is an equipment rental and industrial services business with operations in Africa, Australasia, and the United Kingdom. Waco International was established in 1952 and is based in Johannesburg, South Africa.

Sell -
SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.


DEAL STATS #
Overall 32 of 76
Sector (Media) 5 of 5
Type (Add-on Acquisition) 23 of 45
State (Kansas) 1 of 2
Country (United States) 30 of 67
Year (2012) 2 of 2
Size (of disclosed) 4 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-09 Arrowhead General Insurance Agency

San Diego, California, United States

Arrowhead General Insurance Agency, Inc. is a national insurance program manager and one of the largest managing general agents in the property and casualty insurance industry.

Sell $400M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-28 Finalsite

Glastonbury, Connecticut, United States

Finalsite is a SaaS-based learning and communications platform for K-12 independent and public schools and higher education institutions in the U.S. and internationally. The platform manages all aspects of a school’s web presence and facilitates the distribution of digital content across school communities and in classrooms via a proprietary, SaaS-based software suite accessed through desktops and mobile devices. Finalsite was founded in 1998 and is based in Glastonbury, Connecticut.

Buy -