Reddy Ice has emerged from Chapter 11 protection majority owned by Centerbridge Partners. Through the reorganization process, the packaged ice manufacturer reduced its debt by 32%. The company also received a $50 million revolving credit facility from Macquarie Bank and $25 million of equity investment, including a $7.5 million preferred stock investment by Centerbridge.
So far this year, PE investors have invested in 118 companies headquartered in the Gulf Coast region, according to the PitchBook Platform. Deal flow in the Gulf States has been relatively spread out across the different industries. The B2B industry leads the activity with a 32% share of the deal flow, followed by Energy with 18%. Although Healthcare is only the third-most popular industry, its Clinics/Outpatient Services sub-sector is the most active sub-sector of any industry for the region. Alone, it accounts for 6% of the deal flow.
*2012 to date
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