This Day in Buyout History

Five years ago today, Blackstone completed its $1.73 billion purchase of The Cosmopolitan of Las Vegas, a swanky new property on the Strip that had spent the previous six years in unprofitable limbo.

At first glance, spare change might not seem like big business. But during the 1990s, a Seattle-area company called Coinstar proved that it was. And then private equity took notice.

A dozen years ago today, Blackstone closed its largest buyout fund ever. But the vehicle might not hold that title for much longer.

Six years after KKR and Clayton, Dubilier & Rice acquired US Foods, the firms thought they’d found the perfect exit path. But the government had different ideas.

TowerBrook Capital Partners’ acquisition of True Religion Apparel in 2013 was part of widespread private equity interest in the space. But not long after, the retail apocalypse began.

Twelve years ago today, Goldman Sachs closed a massive new buyout fund that took the concept of “skin in the game” to a whole new level.

Seven years ago this March, Guggenheim Partners teamed with Magic Johnson on a $2.3 billion takeover of one of the most famous franchises in professional sports.

Eight years ago today, an Australian private equity firm bought a booming wine business in a deal that eventually brought in some of the alcohol and financial worlds’ top names.

On December 5, 2014, Vista Equity Partners made a $4.3 billion acquisition that was one of the first moves in a dealmaking wave that shook up the software industry.

KKR’s recent conversion from a partnership to a corporation was the culmination of the firm’s long-time love affair with the public markets.

As everyone in private equity knows, debt can be a powerful thing. Four years ago today, Ares Management used it to take control of one of America’s major music retailers.

Apollo Global Management has invested in pizza, casinos, Twinkies, hot tubs and organic foods. Five years ago today, it added education to the mix.

On February 7, 2014, KKR agreed to acquire National Vision, an optical retailer with hundreds of locations across the US—including more than 200 in Walmart stores.

Worldpay’s future is as part of an emerging financial conglomerate. For private equity firms, though, the company’s profit-filled past was no doubt much more interesting.

In the 11 years since, more substantial deals have taken place. But at the time, the take-private buyout of HCA was one for the record books.

Nine years ago today, a stark change occurred in the forecast for The Weather Channel when Bain Capital, Blackstone and NBC Universal bought the company for $3.5 billion.

The environment in which Leonard Green Partners invested its fifth flagship fund was very different from the environment in which it was raised. Yet LGP still managed to log stellar multiples. How?

Six years ago today, TPG and Leonard Green & Partners finalized their buyout of J. Crew for just about $3 billion. But the controversy surrounding the deal began long before its completion.