KKR Takes Stake in Brand-Management Company Galaxy Universal
KKR Takes Stake in Brand-Management Company Galaxy Universal
By Dave Sebastian
作者：戴夫·塞巴
KKR & Co. is taking a stake in brand manager Galaxy Universal LLC, which is buying active-division brands from bankrupt licensing business Sequential Brands Group Inc. for about $330 million, the companies said.
兩家公司表示，KKR＆Co. 正在收購品牌管理公司Galaxy Universal LLC的股份，該公司將以約3.3億美元的價格從破產的許可業務Sequential Brands Group Inc.手中收購活躍部門品牌。
The deal adds the brands And1, Avia, Gaiam and SPRI to the portfolio of Galaxy, which is owned by private-equity firm Gainline Capital Partners. Sequential Brands, a New York-based company that owns and licenses consumer brands, filed for bankruptcy in August and moved to sell assets, as a big debt load and the Covid-19 pandemic made business difficult.
該交易將And1、Avia、Gaiam和SPRI品牌添加到私募股權投資公司Gainline Capital Partners旗下的Galaxy的投資組合中。Sequential Brands是一家總部位於紐約的擁有和許可消費品牌的公司，由於巨額債務負擔和Covid-19疫情使業務變得困難，該公司於8月申請破產並開始出售資產。
KKR led the debt financing of Galaxy's acquisition of the brands and is making the investment in Galaxy through certain private credit managed accounts, the companies said.
兩家公司表示，KKR牽頭了Galaxy收購這些品牌的債務融資，並正在通過某些私人信貸管理賬戶對Galaxy進行投資。
Sequential Brands has canceled the auction of its assets and identified successful bidders, including Galaxy, according to a court filing Thursday. The purchase price for the active-division assets includes $55 million in cash, the issuance of debt of Galaxy of $227.5 million and the assumption of certain liabilities, the filing said.
根據週四的法庭文件，Sequential Brands取消了其資產的拍賣，並確定了包括Galaxy在內的成功競標者。文件稱，活躍部門資產的收購價格包括5500萬美元的現金、銀河22.75億美元的債務的發行以及某些負債的承擔。
The purchase price also includes issuance to Sequential Brands' term B lenders of Series A units of Galaxy equal to 11.3% of outstanding Series A and B units, valued at $50 million. KKR and Apollo Global Management Inc. have in a past filing been identified as term B lenders to Sequential Brands. That means KKR and Apollo will own about 11% in Galaxy after the deal, with KKR owning most of the stake, according to a person familiar with the matter.
收購價格還包括向Sequential Brands的B期貸款人發行的GalaxyA輪股份，相當於A輪和B系列未償還單位的11.3％，價值5000萬美元。在過去的一份文件中，KKR和Apollo Global Management Inc.被確定爲Sequential Brands的一位知情人士稱，這意味着交易完成後，KKR和Apollo將擁有Galaxy約11％的股份，而KKR擁有大部分股份。
Pop artist Jessica Simpson and her family struck a deal to buy a 62.5% stake of her namesake fashion line that they don't currently own for $65 million in cash from Sequential Brands, according to the filing.
文件顯示，流行歌手傑西卡·辛普森和她的家人達成協議，以6500萬美元現金從Sequential Brands手中收購其同名時裝系列62.5％的股份，但他們目前尚未擁有這些股份。
Sequential Brands also struck a deal with Centric Brands LLC for the Joe's Jeans line, according to the filing. The purchase price includes a cash portion of $48.5 million and the assumption of certain liabilities, the filing said.
文件顯示，Sequential Brands還與Centric Brands LLC就Joeans系列達成協議。文件稱，收購價格包括48,500,000美元的現金部分和某些負債的承擔。
Galaxy this spring completed its acquisition of brand-management firm Apex Global Brands, which includes Hi-Tec, Magnum and Tony Hawk.
銀河今年春天完成了對品牌管理公司Apex Global Brands的收購，其中包括Hi-Tec、Magnum和Tony Hawk。
The companies expect the deal to close by mid-November. A bankruptcy court must approve the sales.
兩家公司預計該交易將於11月中旬完成。破產法院必須批准銷售。
Houlihan Lokey Inc. was Galaxy's financial adviser, and Willkie Farr & Gallagher LLP was its legal adviser. Credit Suisse Securities (USA) LLC was Gainline Capital Partners' placement agent. Province was KKR's financial adviser, and King & Spalding LLP was its legal adviser. Stifel Financial Corp. and its affiliate Miller Buckfire were Sequential Brands' financial advisors, and Gibson, Dunn & Crutcher LLP was its legal adviser.
Houlihan Lokey Inc.是銀河的財務顧問，Willkie Farr & Gallagher LLP是其法律顧問。瑞士信貸證券（美國）有限責任公司是Gainline Capital Partners的配售代理。Province是KKR的財務顧問，King & Spalding LLP是其法律顧問。Stifel Financial Corp. 及其子公司米勒·巴克菲爾是Sequential Brands的財務顧問，Gibson、Dunn & Crutcher LLP是其法律顧問。
--Becky Yerak contributed to this article.
——Becky Yerak 爲這篇文章做出了貢獻。
Write to Dave Sebastian at dave.sebastian@wsj.com
通過 dave.sebastian@wsj.com 寫信給戴夫·塞巴斯蒂安
譯文內容由第三人軟體翻譯。