Apollo To Buy Redbox Parent Company At $1.6B Value by PitchBook
Apollo Global Management has agreed to acquire Outerwall (NASDAQ: OUTR), the owner of retail kiosks Redbox and Coinstar, for about $895 million. The deal values the company at roughly $1.6 billion and, at a price of $52 per share, represents an 11% premium to Friday’s closing price. Those figures mean the acquisition of Outerwall, based in Bellevue, WA, will be one of the largest buyouts of the decade to target a company headquartered in the Pacific Northwest.
More and more firms are turning their attention to the upper-left corner of the U.S. Last year, PE investors completed 149 deals in Washington, Oregon, Idaho, Montana and Alaska, according to the PitchBook Platform, a 91% uptick from the 78 deals done during 2010. Outside the B2B and B2C sectors, the industry drawing the most interest is IT, home to 14% of PE activity since 2010. Washington is the powerhouse, housing 57% of PE deals in the Northwest in the chosen timeframe, with Oregon (29%) a distant second.
Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
Here are the top PE investors in the region since the start of 2010, along with their deal counts (incl. add-ons):
1. ABRY Partners (14)
T-2. KKR (13)
T-2. Apax Partners (13)
T-4. Hellman & Friedman (11)
T-4. Endeavour Capital (11)
T-6. Warburg Pincus (10)
T-6. The Riverside Company (10)
PitchBook users can view the full list of PE investors in the U.S. Northwest. Want access to the info? Contact us today.
Apollo Global Management