Platinum Equity entered into a definitive agreement to acquire Cabinetworks from American Industrial Partners, GIC and other equity holders. BofA Securities will lead debt financing to support the acquisition.
Citi and Goldman Sachs provided debt financing for Blackstone’s acquisition of Interior Logic Group.
Nesco entered into a definitive agreement to acquire Custom Truck One Source for a purchase price of $1.475 billion. Bank of America is leading debt financing in support of the transaction.
The PNC Financial Services Group and the Spanish financial group, Banco Bilbao Vizcaya Argentaria, signed a definitive agreement for PNC to acquire BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA, for a purchase price of $11.6 billion.
First Eagle Alternative Credit, an alternative credit manager, closed Lake Shore MM CLO III at $318 million, marking the company’s third collateralized loan obligation that includes middle market leveraged loans. Citi served as lead manager, structuring agent and bookrunner.
BlueVine named marketing veteran Patrick Adams as its chief marketing officer. In this role, Adams will oversee all marketing functions and will report to Eyal Lifshitz, CEO and co-founder.
Citi released a report that estimates the economic losses attributed to racial inequality in the U.S., which posits the lost GDP of systemic and societal racism and discrimination faced by Blacks over the last 20 years to be $16 trillion and provides recommendations the public and private sectors can take to help close the gap.
Following the launch of Citi Impact Fund, the company announced its first four investments in “double bottom line” companies through the new fund; Fulcrum BioEnergy, ICON, PadSplit, and The Mom Project.
Michael Corbat, CEO of Citi, will retire and step down from the company’s board of directors in February of 2021. Jane Fraser, currently Citi’s president and CEO of global consumer banking, will succeed Corbat as CEO and on the board of directors.
Ares Management, Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking reached a strategic agreement to collaborate on future business opportunities.