M&A Deal Summary

Elliott Acquires Channel

On May 30, 2018, asset manager Elliott acquired financial services company Channel from Monroe Capital

Acquisition Highlights
  • This is Elliott’s 1st transaction in the Financial Services sector.
  • This is Elliott’s 2nd transaction in the United States.
  • This is Elliott’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2018-05-30
Target Channel
Sector Financial Services
Buyer(s) Elliott
Sellers(s) Monroe Capital
Deal Type Secondary Buyout
Advisor(s) Eversheds LLP (Legal)

Target

Channel

Minnetonka, Minnesota, United States
Channel is a provider of equipment finance and working capital solutions through partnerships with equipment finance companies. Channel products and services utilize customized technology and business processes to help these companies provide their customers access to broader financing options and capital needed to grow their businesses. Channel was founded in 2009 and is based in Minnetonka, Minnesota.

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Buyer(S) 1

Buyer

Elliott

Category Asset Manager
Founded 1977
PE ASSETS 59.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Elliott Management is a diversified investment management firm consisting of private equity, distressed, and hedge funds. The Firm's private equity group looks to acquire majority or minority stakes in private companies. In addition to private equity investing, Elliott looks to acquire positions in public companies, distressed assets, real estate, and commodities. Elliott Management was formed in 1977 and is headquartered in West Palm Beach, Florida.

DEAL STATS #
Overall 4 of 14
Sector (Financial Services) 1 of 3
Type (Secondary Buyout) 1 of 3
State (Minnesota) 1 of 1
Country (United States) 2 of 8
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-29 BMC

Houston, Texas, United States

BMC is a systems software provider which helps enterprise organizations manage and optimize information technology across cloud, hybrid, on-premise, and mainframe environments. BMC was established in 1980 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-01 AC Milan

Milan, Italy

AC Milan is a professional football club. AC Milan was founded in 1899 and is based in Milan, Italy.

Buy -

Seller(S) 1

SELLER

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 24 of 53
Sector (Financial Services) 1 of 1
Type (Secondary Buyout) 6 of 13
State (Minnesota) 2 of 2
Country (United States) 24 of 53
Year (2018) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-17 Atlas

West Palm Beach, Florida, United States

Atlas provides companies with signage products and other ancillary services. The Company is a one-stop-shop for all design, permitting, manufacturing, installation, repair and maintenance needs. Atlas Sign Industries was founded in 1992 and is based in West Palm Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-07 RedZone Robotics

Warrendale, Pennsylvania, United States

RedZone Robotics is a technology-enabled solutions business that uses proprietary robots and software tools to provide inspection, data collection, and asset management services primarily for wastewater pipeline systems. RedZone Robotics was founded in 1987 and is based in Warrendale, Pennsylvania.

Buy -
Mergr

Product

Company

Legal