Apollo to buy Redbox parent company at $1.6B value
July 26, 2016
Apollo Global Management has agreed to acquire Outerwall (NASDAQ: OUTR), the owner of retail kiosks Redbox and Coinstar, for about $895 million. The deal values the company at roughly $1.6 billion and, at a price of $52 per share, represents an 11% premium to Friday’s closing price. Those figures mean the acquisition of Outerwall, based in Bellevue, WA, will be one of the largest buyouts of the decade to target a company headquartered in the Pacific Northwest.
More and more firms are turning their attention to the upper-left corner of the U.S. Last year, PE investors completed 149 deals in Washington, Oregon, Idaho, Montana and Alaska, according to the PitchBook Platform, a 91% uptick from the 78 deals done during 2010. Outside the B2B and B2C sectors, the industry drawing the most interest is IT, home to 14% of PE activity since 2010. Washington is the powerhouse, housing 57% of PE deals in the Northwest in the chosen timeframe, with Oregon (29%) a distant second.
Here are the top PE investors in the region since the start of 2010, along with their deal counts (incl. add-ons):