M&A Deal Summary

Outerwall Acquires American Coin Merchandising

On May 24, 2004, Outerwall acquired franchising company American Coin Merchandising from Wellspring Capital Management and Audax Private Debt for 235M USD

Acquisition Highlights
  • This is Outerwall’s 1st transaction in the Franchising sector.
  • This is Outerwall’s 2nd largest (disclosed) transaction.
  • This is Outerwall’s 2nd transaction in the United States.
  • This is Outerwall’s 1st transaction in Colorado.

M&A Deal Summary
Date 2004-05-24
Target American Coin Merchandising
Sector Franchising
Buyer(s) Outerwall
Sellers(s) Wellspring Capital Management
Audax Private Debt
Deal Type Add-on Acquisition
Deal Value 235M USD

Target

American Coin Merchandising

Louisville, Colorado, United States
American Coin Merchandising, Inc. is the largest owner, operator and franchisor of coin-operated amusement vending equipment in the U.S. The amusement vending machines operated by ACMI are principally skill-cranes, which dispense stuffed animals, plush toys, watches, jewelry and candy.

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Buyer(S) 1

Buyer

Outerwall

Bellevue, Washington, United States
Category Company
Founded 1989
Sector Consumer Services
Employees2,670
Revenue 2.2B USD (2015)
DESCRIPTION

Outerwall is a provider of retail kiosks in North America and the UK. Outerwall operates Coinstar money kiosks, Redbox DVD rental kiosks, as well as ATM machines. Outerwall was formed in 1989 and is based in Bellevue, Washington.

DEAL STATS #
Overall 2 of 7
Sector (Franchising) 1 of 1
Type (Add-on Acquisition) 2 of 6
State (Colorado) 1 of 1
Country (United States) 2 of 6
Year (2004) 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-15 CellCards of Illinois

Des Plaines, Illinois, United States

CellCards of Illinois LLC is a prepaid products distributor.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-25 Groupex Financial

La Mirada, California, United States

Groupex Financial Corp. is a provider of money transmitting services.

Buy -

Seller(S) 2

SELLER

Wellspring Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Wellspring Capital Management is a mega-sized private equity firm that focused on a variety of transaction situations. The Firm will consider buyouts of private companies, acquisitions of divisions or subsidiaries of public companies, shareholder liquidity needs, partnering with entrepreneurs for growth opportunities, and special situations. Wellspring does not have any sector preferences and is capable of pursuing transactions valued up to $1 billion. Wellspring Capital Management was formed in 1995 and is based in New York City.

DEAL STATS #
Overall 3 of 37
Sector (Franchising) 1 of 1
Type (Add-on Acquisition) 3 of 12
State (Colorado) 1 of 2
Country (United States) 2 of 33
Year (2004) 2 of 3
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-08 The Hockey

Montreal, Quebec, Canada

The Hockey Co. is a designer, manufacturer and marketer of hockey equipment and related apparel. Its primary brands, CCM, Jofa and Koho are among the most widely recognized brands in the hockey industry. The company?s products are sold in 45 countries.

Sell $204M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-28 Residential Services Group

Dayton, Ohio, United States

Residential Services Group, Inc. specializes in heating, ventilation, air conditioning and plumbing.

Sell -
SELLER

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.

DEAL STATS #
Overall 2 of 51
Sector (Franchising) 1 of 2
Type (Add-on Acquisition) 2 of 19
State (Colorado) 1 of 2
Country (United States) 2 of 51
Year (2004) 1 of 1
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-04 Cypress Care

Duluth, Georgia, United States

Cypress Care, Inc. is a provider of pharmacy and specialty healthcare services to manage claims related expenses for workers' compensation and auto insurance carriers, third party administrators, managed care organizations, government agencies, and self-insured employers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-14 Dynisco

Franklin, Massachusetts, United States

Dynisco LLC is a provider of software and highly engineered test, measurement and control technologies utilized in process industries with emerging applications in life science.

Buy -
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