M&A Deal Summary

Providence Equity Partners, TPG, aPriori Capital Partners and Quadrangle Group Acquire MGM

On September 23, 2004, private equity firms Providence Equity Partners, TPG, aPriori Capital Partners and Quadrangle Group acquired media company MGM for 3.6B USD

Acquisition Highlights
  • This is Providence Equity Partners’ 9th, TPG’s 1st, aPriori Capital Partners’ 2nd and Quadrangle Group’s 6th transaction in the Media sector.
  • This is Providence Equity Partners’ 6th, TPG’s 26th, aPriori Capital Partners’ 3rd and Quadrangle Group’s largest (disclosed) transaction.
  • This is Providence Equity Partners’ 13th, TPG’s 37th, aPriori Capital Partners’ 19th and Quadrangle Group’s 11th transaction in the United States.
  • This is Providence Equity Partners’ 3rd, TPG’s 10th, aPriori Capital Partners’ 4th and Quadrangle Group’s 1st transaction in California.
Investment Fate
  • MGM went bankrupt in 2010.
  • MGM was sold to a strategic buyer in 2021 for 8.5B USD.

M&A Deal Summary
Date 2004-09-23
Target MGM
Sector Media
Buyer(s) Providence Equity Partners
TPG
aPriori Capital Partners
Quadrangle Group
Deal Type Going Private
Deal Value 3.6B USD

Target

MGM

Beverly Hills, California, United States
MGM is an entertainment company focused on the production and global distribution of film and television content across all platforms. The company owns one of the world’s deepest libraries of premium film and television content.

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Buyer(S) 4

Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.

DEAL STATS #
Overall 23 of 135
Sector (Media) 9 of 29
Type (Going Private) 1 of 12
State (California) 3 of 11
Country (United States) 13 of 85
Year (2004) 3 of 4
Size (of disclosed) 6 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-30 PanAmSat

New York, New York, United States

PanAmSat Corp. is a premiere global provider of fixed satellite services to video, data networking and government customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-27 Bustos Media Holdings

Portland, Oregon, United States

Bustos Media Corporation is a radio broadcasting company.

Buy -
Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 51 of 421
Sector (Media) 1 of 9
Type (Going Private) 4 of 36
State (California) 10 of 85
Country (United States) 37 of 276
Year (2004) 7 of 10
Size (of disclosed) 26 of 105
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-02 PPOM

Southfield, Michigan, United States

PPOM LLC preferred provider organization (PPO) that operated in the midwestern states of Illinois, Indiana, Kentucky, Michigan, Ohio, and Wisconsin. PPOM also provided vision and dental plans.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-30 WIL Research

Ashland, Ohio, United States

WIL Research Co., Inc. is a global Contract Research Organization (CRO) that provides product safety toxicological research, bioanalytical, and formulation services to the pharmaceutical, biotechnology, chemical, agrochemical, and food products industries, as well as manufacturing support for clinical trials.

Buy $105M
Buyer

aPriori Capital Partners

Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

aPriori Capital Partners (formerly DLJ Merchant Banking Partners) is a middle-market private equity firm focused on middle-market buyouts in the US and Europe. Sectors of interest include healthcare, retail, consumer, energy, business services, and industrial. aPriori was originally established in 1985 and has offices in New York and Los Angeles.

DEAL STATS #
Overall 27 of 56
Sector (Media) 2 of 2
Type (Going Private) 2 of 6
State (California) 4 of 5
Country (United States) 19 of 40
Year (2004) 6 of 8
Size (of disclosed) 3 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Noveon International

Cleveland, Ohio, United States

Noveon International, Inc is a global developer, producer, and marketer of technologically advanced specialty chemicals for a broad range of consumer and industrial applications.

Sell $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-01 Visant

Armonk, New York, United States

Visant Corporation is a provider of marketing and publishing services in the school affinity products, sampling, packaging, direct marketing and educational and trade publishing segments.

Buy -
Buyer

Quadrangle Group

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quadrangle Group is a specialist private equity firm focused on the information and communications technology services sectors. Quadrangle was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 12 of 25
Sector (Media) 6 of 7
Type (Going Private) 1 of 1
State (California) 1 of 1
Country (United States) 11 of 19
Year (2004) 2 of 4
Size (of disclosed) 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-04 Cinemark

Plano, Texas, United States

Cinemark is an operator of movie theaters in the United States, or U.S., Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao and Paraguay. Cinemark was incorporated in 1984 and is based in Plano, Texas.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-01 DataNet Communications Group

Newburgh, New York, United States

DataNet Communications Group, Inc. (DataNet) is a facilities-based telecommunications provider that provides high-speed connectivity to businesses, telecommunications carriers, and educational, healthcare, and government institutions.

Buy -
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