Washington Prime Group emerged from the Chapter 11 process, signifying the completion of the company’s financial restructuring and the implementation of its plan of reorganization. The company emerged from bankruptcy with its debt reduced by nearly $1 billion.
White Oak Global Advisors completed fundraising for White Oak Yield Spectrum Fund V and other associated vehicles with more than $1.3 billion of total committed capital. An additional commitment of up to $1 billion was received for investments in specialty finance with a focus on asset-based lending.
Capital One entered into a definitive agreement to acquire TripleTree, an investment banking advisory platform serving healthcare companies. TripleTree will join Capital One Commercial Bank’s capital markets group.
Riverbed Technology entered into a restructuring support agreement regarding the terms of a financial restructuring. Upon consummation of the recapitalization, a group of institutional investors led by Apollo Global Management will become the majority owners of the company.
Thoma Bravo completed its acquisition of Stamps.com for approximately $6.6 billion in cash. Blackstone Credit, credit funds managed by Ares Management, PSP Investments Credit II and Thoma Bravo Credit provided debt financing for the transaction.
IPC Systems entered into a transaction support agreement with its key stakeholders that will reduce the company’s debt by more than $400 million, extend its debt maturity schedule by five years and provide new capital of $125 million to deliver resources for investment in long-term growth strategies.
Avantor entered into a definitive agreement to acquire the Masterflex bioprocessing business and related assets of Antylia Scientific, a privately held, portfolio company of investment firms GTCR and Golden Gate Capital.
Vesey Street Capital Partners completed a recapitalization of Safecor Health, a provider of pharmaceutical unit dose packaging services for hospitals and health systems. JPMorgan Chase Bank provided debt financing to support the transaction.
Intelsat achieved the support of key creditor groups on the terms of a financial restructuring. The company also filed an amended plan of reorganization in its Chapter 11 proceedings. The amended plan has the support of holders of approximately $11 billion, or nearly 75%, of the company’s funded debt.
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.