US LBM completed its acquisition of American Construction Source from Angeles Equity Partners and Clearlake Capital Group. Barclays and Credit Suisse led the debt financing for the transaction. Financial terms were not disclosed.
Washington Prime Group filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. Washington Prime Group also secured $100 million in new money debtor-in-possession financing.
Alex and Ani entered into a restructuring support agreement with its debt holders and equity sponsors and commenced Chapter 11 proceedings. Portage Point Partners is serving as Alex and Ani’s financial advisor in connection with the restructuring.
Cloudera entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice and KKR in an all-cash transaction valued at approximately $5.3 billion. J.P. Morgan, Bank of America and KKR Capital Markets committed to provide debt financing for the transaction.
Apollo Global Management entered into an agreement to acquire Verizon Media from Verizon for $5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo at close of the transaction and continue to be led by Guru Gowrappan as CEO.
Winston & Strawn added Rachel Gray as a partner in the firm’s New York office and a member of the leveraged finance team. Gray most recently served as partner in the New York office of Kirkland & Ellis.
Comvest Credit Partners completed the final close of its latest flagship fund, Comvest Credit Partners V, which closed with more than $1.3 billion of equity commitments and secured credit facilities to increase its available capital.
The California Public Utilities Commission unanimously voted to approve Frontier Communications’ emergence from Chapter 11. Having already received all other required state and federal approvals, Frontier Communications expects to emerge from Chapter 11 in the coming weeks.
L Catterton entered into a definitive agreement to acquire a controlling interest in West Marine, an omnichannel platform in the marine aftermarket, from Monomoy Capital Partners. Barclays Bank, Golub Capital and Nomura provided committed debt financing to support the transaction.
IDS agreed to acquire White Clarke Group, a provider of retail, fleet, wholesale and asset finance solutions for the automotive and equipment finance markets.