M&A Deal Summary

Wayzata Investment Partners Acquires The Star Tribune Media Company

On September 1, 2009, private equity firm Wayzata Investment Partners acquired communications company The Star Tribune Media Company from Avista Healthcare Partners

Acquisition Highlights
  • This is Wayzata Investment Partners’ 1st transaction in the Communications sector.
  • This is Wayzata Investment Partners’ 12th transaction in the United States.
  • This is Wayzata Investment Partners’ 1st transaction in Minnesota.

M&A Deal Summary

Date 2009-09-01
Target The Star Tribune Media Company
Sector Communications
Buyer(s) Wayzata Investment Partners
Sellers(s) Avista Healthcare Partners
Deal Type Special Situations/Distressed

Target

The Star Tribune Media Company

Minneapolis, Minnesota, United States
The Star Tribune Media Company LLC is the information provider in the Minneapolis/St. Paul metropolitan area and includes the Star Tribune newspaper, StarTribune.com and other print and digital products and services. The Star Tribune is the largest daily and Sunday newspaper in the Twin Cities area with daily circulation in excess of 360,000 and Sunday circulation of approximately 600,000. The Star Tribune is the 10th largest Sunday paper and 14th largest daily paper in the United States.

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Buyer(S) 1

Buyer

Wayzata Investment Partners

Plymouth, Minnesota, United States

Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Wayzata Investment Partners is a private equity group focused on acquiring controlling interests in companies through distressed debt investing. The Firm targets companies valued between $100 million and $1 billion. Wayzata was formed in 2004 and is based in Wayzata, Minnesota.


DEAL STATS #
Overall 13 of 26
Sector: Communications M&A 1 of 1
Type: Special Situations/Distressed M&A Deals 12 of 22
State: Minnesota M&A 1 of 1
Country: United States M&A 12 of 24
Year: 2009 M&A 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-29 MasterCraft

Vonore, Tennessee, United States

MasterCraft is a manufacturer of inboard “sport boats” used for waterskiing, wakeboarding and general recreation. MasterCraft was founded in 1968 and is based in Vonore, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-03 Pliant

Schaumberg, Illinois, United States

Pliant Corporation is a manufacturer of flexible film packaging materials. The company is one of North America's largest producers of polymer-based, value-added films for flexible packaging, personal care, medical, agricultural and industrial applications

Sell -

Seller(S) 1

SELLER

Avista Healthcare Partners

New York, New York, United States

Category Private Equity Firm
Founded 2005
PE ASSETS 8.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Avista Capital Partners is a private investment firm formed by a group of professionals with roots from DLJ Merchant Banking Partners. Avista makes controlling and minority investments in US based energy, healthcare, and media companies with revenues greater than $25 million. Typical transactions include leverage buyouts, build-ups, and growth capital financings. Avista Capital was formed in 2005 and is based in New York City with an additional office in Houston, Texas.


DEAL STATS #
Overall 4 of 31
Sector: Communications M&A 1 of 2
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Minnesota M&A 1 of 1
Country: United States M&A 3 of 25
Year: 2009 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-02 ConvaTec

Reading, United Kingdom

ConvaTec is a global medical products and technologies company that provides advanced wound care, ostomy care, continence, and critical care, and infusion devices. ConvaTec was formed in 1972 and is based in Reading, United Kingdom.

Buy $4.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-30 MedServe

Bellaire, Texas, United States

MedServe provides medical waste removal and destruction and related environmental services to hospitals, health care clinics, doctors' offices and other generators of medical waste.

Sell $185M