M&A Deal Summary

The Blackstone Group Acquires International Market Centers

On July 6, 2017, private equity firm The Blackstone Group acquired real estate company International Market Centers from Bain Capital Private Equity and Oaktree Capital Management

Acquisition Highlights
  • This is The Blackstone Group’s 6th transaction in the Real Estate sector.
  • This is The Blackstone Group’s 141st transaction in the United States.
  • This is The Blackstone Group’s 2nd transaction in Nevada.

M&A Deal Summary
Date 2017-07-06
Target International Market Centers
Sector Real Estate
Buyer(s) The Blackstone Group
Sellers(s) Bain Capital Private Equity
Oaktree Capital Management
Deal Type Secondary Buyout
Advisor(s) Allen & Company (Financial)
Kirkland & Ellis (Legal)

Target

International Market Centers

Las Vegas, Nevada, United States
International Market Centers is an owner and operator of premier showroom space for the furnishings, home decor and gift industries, with 10+ million square feet of world-class exhibition space in High Point, NC and Las Vegas, NV. The Company’s mission is to build and operate an innovative, sustainable, profitable and scalable platform for the furnishings, home decor and gift industries.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 224 of 335
Sector (Real Estate) 6 of 11
Type (Secondary Buyout) 37 of 80
State (Nevada) 2 of 2
Country (United States) 141 of 210
Year (2017) 11 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-19 The Office Group

London, United Kingdom

TOG is a provider of flexible workspaces that are distinctive by design, supporting businesses and people to thrive. TOG’s in-house design team works with partners who respect the community, history and context of each building to create beautifully inspired spaces where people can do their best work.

Buy £500M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-24 Clarion Events

London, United Kingdom

Clarion is an event organizer, producing and delivering innovative and market-leading events since 1947. In more recent times the firm has grown into a truly international business, with a portfolio of events and media brands across a range of vertical markets.

Buy -

Seller(S) 2

SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 102 of 147
Sector (Real Estate) 1 of 2
Type (Secondary Buyout) 22 of 31
State (Nevada) 1 of 1
Country (United States) 63 of 85
Year (2017) 10 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-06 Hugel

Chuncheon-si, South Korea

Hugel develops and manufactures biopharmaceuticals in internationally. The company offers Botulinum Toxin, a white injectable dry powder in a transparent glass vial for use in the treatment of positive essential eyelid convulsion in adults. Hugel was founded in 2001 and is based in Chuncheon-si, South Korea.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-09 Worldpay UK

Cambridge, United Kingdom

WorldPay is a provider of single card and non-card electronic payment processing services to businesses. Worldpay provides an extensive range of technology-led payment products and services to around 400,000 customers, enabling their businesses to grow and prosper. Worldpay manages the increasing complexity of the payments landscape for its customers, allowing them to accept the widest range of payment types around the world. Using its network and technology, Worldpay is able to process payments across 146 countries and 126 currencies. Worldpay helps its customers to accept more than 300 different payment types.

Sell $12.0B
SELLER

Oaktree Capital Management

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1995
Size Mega
Type Sector Agnostic
DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.

DEAL STATS #
Overall 51 of 77
Sector (Real Estate) 2 of 3
Type (Secondary Buyout) 12 of 23
State (Nevada) 2 of 3
Country (United States) 39 of 53
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-29 Avenga

Cologne, Germany

Avenga is a global IT platform, offering a full-service business solutions and supporting global organizations in their digital transformation. The Company understands the complexities of modern markets and translates them into real business solutions for pharma & life sciences, insurance, finance, automotive, and real estate. Avenga is based in Cologne, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-16 DDH1 Drilling Pty

Canning Vale, Australia

DDH1 Drilling Pty Ltd. is a provider of deep directional mineral drilling services used to identify and extend resources, reserves and mining plans for Australia’s exploration and mining industry. The Company designs complex drilling programs delivered by highly skilled rig operators and has a strong history of satisfying customer requirements. The Company’s drill rig fleet is modern, standardized and the largest in Australia for deep directional mineral coring.

Buy -
Mergr

Product

Company

Legal