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    Consumer Discretionary Q3 2021

    Q3 2021 Consumer Discretionary

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • At Home Group Inc.
    • Hellman & Friedman LLC
    • $4,364.66
    • Diamond Resorts International, Inc.
    • Hilton Grand Vacations Inc.
    • $3,392.66
    • Core-Mark Holding Company, Inc.
    • Performance Food Group Company
    • $2,737.53
    • Walden e-Learning, LLC
    • Adtalem Global Education Inc.
    • $1,480.00
    • Eurostar, Inc.
    • Foot Locker Retail, Inc.
    • $750.00
    • C&W Motors, Inc./ Metro Motorcycle, Inc./ Tucson Motorcycles, Inc./ Tucson Motorsports, Inc.
    • RumbleON, Inc.
    • $627.55
    • Clever, Inc.
    • Kahoot! ASA
    • $500.00
    • Global Franchise Group, LLC
    • FAT Brands Inc.
    • $443.49
    • Carlisle Brake & Friction, Inc.
    • CentroMotion
    • $375.00
    • Dayton Parts, LLC
    • Dorman Products, Inc.
    • $338.00

    Other Financial Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • The Woodlands Resort/The Westin at The Woodlands/Embassy Suites by Hilton
    • Lowe Enterprises, Inc.
    • $252.00
    • 22 Golf Clubs
    • Spirit Realty Capital, Inc.
    • $230.80
    • Le Meridien San Francisco
    • KHP Capital Partners
    • $221.50
    • Portfolio of 20 Select Service US Hotels
    • Värde Partners, Inc.; Flynn Properties, Inc.
    • $211.00
    • Baker's Cay Resort Key Largo, Curio Collection by Hilton
    • Host Hotels & Resorts, Inc.
    • $200.00

    Other Strategic Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Rasmussen College, Inc.
    • American Public Education, Inc.
    • $329.00
    • J. Alexander's Holdings, Inc.
    • SPB Hospitality LLC
    • $313.48
    • Operations of Caesars Southern Indiana
    • Eastern Band Of Cherokee Indians
    • $250.00
    • Sheraton Midtown Atlanta at Colony Square
    • Schulte Hospitality Group, Inc.
    • $160.00
    • Higher Education Business of EverFi, Inc.
    • Vector-Solutions.com, Inc.
    • $100.00

     

    Source S&P Capital IQ as of 10/6/2021 and PCE Proprietary Data

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    PCE Transactions

    Contacts

    Michael Poole

    Orlando Office

    407-621-2112

    David Jasmund

    Orlando Office

    407-621-2111

    Data Assumptions

    This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

    Glossary

    EBIT - Earnings Before Interest and Taxes
    EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
    LTM - Last Twelve Months
    TEV - Total Enterprise Value

    Sources:

    1. Atchley, Charlotte. “Pandemic-induced consumer trends are here to stay.” Food Business News, Sosland Publishing Company, 17 Sept. 2021.
    2. Bacani, Emmanuel Louis. “Facebook names new tech chief; Calif. bill takes aim at Amazon labor practices.” S&P Capital IQ, S&P Global Market Intelligence, 23 Sept. 2021.
    3. Benson, Robert. “New Report Sees Home Furnishings Recommerce Eclipsing Traditional Retail.” Sustainable Brands, Sustainable Life Media, Inc., 22 Sept. 2021.
    4. Halaschak, Zachary. “Consumer confidence lags amid delta variant spread.” Washington Examiner, Verizon Media, 17 Sept. 2021.
    5. Russo, Anthony. “AISLE BE DAMNED Online shopping to get more expensive as FedEx and UPS hike shipping rates.” The U.S. Sun, THE SUN, US, INC., 21 Sept. 2021.
    6. Socha, Miles. “Why Scale Matters in Luxury Goods.” Women’s Wear Daily, Verizon Media, 2 Sept. 2021.
    7. Clark, Evan. “Luxury Acquisitions Just Beginning as Big Players Consolidate: HSBC.” Women’s Wear Daily, Verizon Media, 26 Apr. 2021.
    8. Tucker, Sean. “Microchip Shortage Update: Car Inventories Could Stay Low All Next Year.” Kelley Blue Book, Kelley Blue Book Co.®, Inc., 30 Aug. 2021.
    9. Williams, Joseph. “Regional theme parks bounce back from COVID closures, enjoy higher pricing power.” S&P Capital IQ, S&P Global Market Intelligence, 20 Sept. 2021.

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