Apollo To Buy Redbox Parent Company At $1.6B Value

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.

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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