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Billion Dollar Buyouts

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August 30, 2012

Amid media speculation about a PE-backed buyout of Best Buy, a take private deal for the US-based retailer that could be in USD 10 billion range, no single buyout stands out as deal of the week. But there have been a couple of billion dollar deals announced.

 

One is the buyout of enterprise software maker Deltek Inc by Thoma Bravo LLC in an all-cash deal valued at USD 1.1 billion. The other is Clayton, Dubilier & Rice agreeing to acquire the special occasion clothing retailer, David’s Bridal, in a deal valuing it at USD 1.05 billion, according to Dealbook  .

 

It is the fourth time that the retailer has been acquired in the past 12 years by a PE firm, according to the WSJ. There has been more than USD 24 billion in secondary buyouts of this type this year, which is double the USD 10.5 billion for all of 2011 and the highest total since 2007, according to WSJ citing data provider Dealogic.

 

Retailers are hot in the US. PE investors have invested in 191 U.S. companies involved in the Specialty Retail industry since the beginning of 2007, according to the PitchBook Platform newsletter this week. That trend is cross-country with the West Coast, Midwest and Northeast home to about 20% of the deals since 2007, and the South with a 17% share. (Image Source: WSJ)

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