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Hellman & Friedman taps $190M in financing for Internet Brands take-private

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Hellman & Friedman taps $190M in financing for Internet Brands take-private

Old 02-02-2011, 02:48 PM
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Default Hellman & Friedman taps $190M in financing for Internet Brands take-private

Target(s): Internet Brands Inc.Seller(s): Internet Brands Inc.Acquirer(s): Hellman & Friedman Capital Partners VI LPDeal Value: $ 640.00 mill.Status: CompletedAnnouncement Date: Sep 20, 2010Closing/Termination Date: Dec 17, 2010Attitude: FriendlyCharacteristics: Acquisition, Cash, Merger Description: Hellman & Friedman LLC acquired Internet Brands Inc., via its Hellman & Friedman Capital Partners VI LP fund.Financial Terms: Hellman's $640 million cash offer equated to roughly $13.35 a share of Internet Brands Inc.
DEAL VALUE DETAILS
Deal Value: $ 640.0 mill.Cash: $ 640.0 mill.Financing Package: Hellman invested out of its sixth fund, valued at $8 billion, and leveraged the transaction with $190 million of debt financing from Bank of America Corp., Bank of Montreal, General Electric Capital Corp., Royal Bank of Canada and Wells Fargo & Co. The loans included a five-year senior secured $50 million A term loan, a five-year $105 million senior secured B term loan and a $35 million senior secured revolving credit, also with a term of five years.
Lenders:Bank of America Corp. GE Capital Finance BMO Capital Markets Corp. RBC Capital Markets Corp.
MULTIPLESPrice-to-Sales: 6.2 Price-to-Ebitda: 14.0
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