There’s never a dull day at Blackstone. The firm has completed
18 private equity transactions so far during 2017, according to the PitchBook Platform, tied for third-most among all investors. And those deals span the globe, with target companies in Denmark, El Salvador and Australia, among several other countries.
The latest stops in Blackstone’s travels: Italy, Germany and Oklahoma.
First, the firm has agreed to make a “substantial investment” in De Nora, a Milan-based designer and manufacturer of electrode and water technology. Founded in 1923, the company operates manufacturing plants in Europe, the US, South America and Asia, producing water-treatment solutions, electrodes used in mining and plenty of other materials.
In a separate deal, Blackstone has agreed to cede control of German outdoor brand Jack Wolfskin in a debt-for-equity trade with the company’s lenders, according to Reuters, with Jack Wolfskin reducing its debt load from €330 million to €210 million. The company is the latest in a long line of companies to fall victim to harsh conditions in the retail space. Blackstone acquired Jack Wolfskin for a reported €700 million in 2011, a deal said to include €485 million in fresh debt.
And in a final recent development, a Blackstone-backed company is planning an IPO. Tapstone Energy, an oil & gas business operating in Oklahoma’s Anadarko Basin that's recieved funding from GSO Capital Partners, Blackstone’s credit arm, filed for its public offering on Thursday. Renaissance Capital estimates that the offering could raise as much as $400 million.
PitchBook subscribers can check out more info on Blackstone, including the firm's recent investments and management team, right here.