M&A Deal Summary

Apollo Global Management and Reverence Capital Partners Acquire Diamond Resorts

On June 29, 2016, asset manager Apollo Global Management and private equity firm Reverence Capital Partners acquired leisure company Diamond Resorts for 2.2B USD

Acquisition Highlights
  • This is Apollo Global Management’s 2nd and Reverence Capital Partners’ 1st transaction in the Leisure sector.
  • This is Apollo Global Management’s 22nd and Reverence Capital Partners’ largest (disclosed) transaction.
  • This is Apollo Global Management’s 44th and Reverence Capital Partners’ 3rd transaction in the United States.
  • This is Apollo Global Management’s 2nd and Reverence Capital Partners’ 1st transaction in Nevada.
Investment Fate
  • Diamond Resorts was sold to a publicly-traded strategic buyer in 2021 for 1.4B USD.

M&A Deal Summary
Date 2016-06-29
Target Diamond Resorts
Sector Leisure
Buyer(s) Apollo Global Management
Reverence Capital Partners
Deal Type Going Private
Deal Value 2.2B USD
Advisor(s) DLA Piper
Katten Muchin Rosenman (Legal)

Target

Diamond Resorts

Las Vegas, Nevada, United States
Diamond Resorts is a provider of hospitality and management services. The company operates in two segments, Hospitality and Management Services, and Vacation Interest Sales and Financing. Diamond Resorts with its network of more than 420 vacation destinations located in 35 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australasia, and Africa, provides guests with choice and flexibility to let them create their dream vacation, whether they are traveling an hour away or around the world. Our relaxing vacations have the power to give guests an increased sense of happiness and satisfaction in their lives, while feeling healthier and more fulfilled in their relationships, by enjoying memorable and meaningful experiences that let them Stay Vacationed. Diamond Resorts was founded in 1996 and is based in Las Vegas, Nevada.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 62 of 140
Sector (Leisure) 2 of 4
Type (Going Private) 15 of 31
State (Nevada) 2 of 2
Country (United States) 44 of 101
Year (2016) 7 of 12
Size (of disclosed) 22 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-10 Panolam Surface Systems

Shelton, Connecticut, United States

Panolam Surface Systems is a manufacturer of thermally fused melamine (TFM) panels and high-pressure laminates (HPL). TFM and HPL are used to manufacture kitchen and bath cabinetry, residential and commercial furniture, store fixtures and counter-tops. Panolam Industries International was founded in 1997 and is based in Shelton, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-05 Hostess Brands

Lenexa, Kansas, United States

Hostess Brands is a packaged food company focused on developing, manufacturing, marketing, selling and distributing fresh sweet baked goods in the United States. Hostess Brands was founded in 1919 and is based in Lenexa, Kansas.

Sell -
Buyer

Reverence Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Focused
DESCRIPTION

Reverence Capital Partners is a specialist private investment firm focused on investing in global, middle-market financial services businesses. Specific areas of interest include insurance, asset/wealth management, depositories, finance, financial technology/payments, and capital markets. The Firm targets control and influence-oriented minority investments and typically collaborates with management to drive long-term success. Reverence Capital Partners was formed in 2013 and is based in New York City.

DEAL STATS #
Overall 3 of 13
Sector (Leisure) 1 of 1
Type (Going Private) 1 of 1
State (Nevada) 1 of 1
Country (United States) 3 of 13
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-14 Kabbage

Atlanta, Georgia, United States

Kabbage, Inc. is a provider of short-term financing to small, underbanked businesses and merchants who primarily sell their products and services online.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 CardWorks

Woodbury, New York, United States

CardWorks is a consumer finance lender and servicer, and a people-centric, compliance-focused organization enabled by data and technology. CardWorks was founded in 1987 and is based in Woodbury, New York.

Buy -
Mergr

Product

Company

Legal