M&A Deal Summary

Lone Star Funds Acquires Home Properties

On June 22, 2015, private equity firm Lone Star Funds acquired real estate company Home Properties for 7.6B USD

Acquisition Highlights
  • This is Lone Star Funds’ 2nd transaction in the Real Estate sector.
  • This is Lone Star Funds’ largest (disclosed) transaction.
  • This is Lone Star Funds’ 4th transaction in the United States.
  • This is Lone Star Funds’ 1st transaction in New York.

M&A Deal Summary
Date 2015-06-22
Target Home Properties
Sector Real Estate
Buyer(s) Lone Star Funds
Deal Type Going Private
Deal Value 7.6B USD
Advisor(s) BofA Securities (Financial)
Hogan Lovells (Legal)

Target

Home Properties

Rochester, New York, United States
Home Properties is a multifamily real estate investment trust (REIT) with operations primarily along the East Coast of the United States. Home Properties owns, operates, acquires, and upgrades apartment communities. We adhere to a simple and straightforward business plan in our effort to provide investors with dependable financial returns that exceed those of comparable investments.

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Buyer(S) 1

Buyer

Lone Star Funds

Dallas, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 85.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lone Star Funds is a global private investment firm focused on investing across several strategies. The Firm's primary investment activity surrounds financial services and real estate. Lone Star generally looks to acquire distressed debt and equity assets including corporate, commercial real estate, single family residential and consumer debt products as well as banks and asset rich operating companies. Lone Star was formed in 1995 and is based in Dallas, Texas with additional offices across Western Europe and Asia.

DEAL STATS #
Overall 11 of 27
Sector (Real Estate) 2 of 2
Type (Going Private) 2 of 3
State (New York) 1 of 1
Country (United States) 4 of 13
Year (2015) 3 of 3
Size (of disclosed) 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-15 Balta Group

Sint-Baafs-Vijve, Belgium

Balta Group is a European manufacturer of wall-to-wall carpets and a global leader in the manufacture of area rugs. The Belgium-based company is also engaged in manufacturing for the fast-growing laminate flooring sectors. The combination of laminates and rugs is complementary to carpet production and provides a stable portfolio effect. Balta is vertically integrated for the purposes of yarn production.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 Victra

Raleigh, North Carolina, United States

Victra operates as an exclusive authorized agent for Verizon Wireless. Victra has approximately 1,600 Verizon-branded retail stores across 49 states, offering a comprehensive mix of wireless devices including smartphones, feature phones, tablets, mobile broadband, and wearables; as well as a broad range of accessories and device insurance coverage. Victra was founded in 1996 and is based in Raleigh, North Carolina.

Buy -
Mergr

Product

Company

Legal