Principal Transactions
Overview
Macquarie Capital’s Principal Transactions Group (PTG) aims to build long-term relationships with clients by using our balance sheet to facilitate capital solutions to support acquisitions, refinancings or other events.
With flexibility around investment size, hold period and capital structure, PTG can develop a solution that fits the needs of the client, with a focus on providing equity or equity-like capital.
Partnering with Macquarie provides access to a thoughtful investment partner with a demonstrated capability to add value. Bringing skills which are complementary to those of management teams and co-investors, PTG adds value at every stage of the transaction lifecycle:
- acquisition
- refinancing
- ongoing advisory
- value realization.
PTG leverages the experience and strengths which give Macquarie a unique capacity to partner with clients across the capital structure:
- balance sheet strength
- institutional expertise
- global expertise in managing assets, both standalone and with consortium partners
- proven track record of unlocking value, including functional expertise, recruitment and cost reduction strategies
- access to additional sources of capital, including financial sponsors, private capital markets, debt capital markets and equity capital markets.
Key transactions
| Year | Description |
|---|---|
| Local | |
| 2012 | Macquarie acted as exclusive financial advisor to Golden Gaming, Inc. on an asset swap with Affinity Gaming, LLC, consisting of the sale of its three Colorado casinos and acquisition of Affinity’s two Pahrump, Nevada casinos and slot route business. Macquarie acted as lead bookrunner on Golden Gaming’s concurrent $160 million refinancing into which Macquarie made a principal investment. |
| 2012 | Macquarie acted as joint bookrunner and principal investor on a $171.5 million project financing consisting of two bond offerings and a common equity offering to fund construction of the Margaritaville Resort Casino in Shreveport-Bossier City, Louisiana. |
| 2012 | Macquarie completed an investment in Basin Tools, LP and acted as financial advisor to Basin Tools in connection with its acquisition of a minority ownership stake in Wenzel Downhole Tools Ltd. |
| 2011 | Macquarie acted as financial advisor to Spirit Finance Corporation on the development of its converting term loan. |
| 2011 | Financial advisor to Spirit Finance Corporation on the development of its converting term loan |
| 2011 | Macquarie Capital acted as a joint M&A advisor to Cumulus Media, joint bookrunner and joint lead arranger on $3.025 billion of bank & bond financing and equity provider |
| 2011 | Macquarie facilitated a consortium acquisition of Dynacast International from Melrose plc for consideration of $607 million. Macquarie provided preferred equity, acted as sole M&A advisor to the consortium and was a joint bookrunner on the $450 debt financing |
| 2011 | Macquarie provided growth capital to Mine Site Technologies, a global market leader in mining communication and information solutions to support both organic and acquisitive growth opportunities |
| 2008 | Macquarie acquired a minority investment in Harley Marine Services and has facilitated growth through support of a vessel newbuild program and tuck-in acquisitions |
| 2008 | Macquarie was able to rapidly execute the acquisition of Rossignol Group in partnership with Jarden Corporation, a strategic buyer, and is controlling the company while driving a turn-around |
| 2008 | Macquarie acquired MicroStar Logistics, Inc. and drove significant EBITDA growth via asset management initiatives before a successful exit |
| Global | |
| 2007 | A Macquarie-led consortium acquired a majority stake in Boart Longyear, pursued a bolt-on acquisition strategy and successfully exited via IPO within six months |
| 2007 | Macquarie acquired and merged two leading South East Asian offshore service businesses (Express Offshore Transport, a leading crewboat service provider, and Miclyn Offshore, a Singapore-based offshore marine services company) to form Miclyn Express Offshore and successfully exited via an IPO. Macquarie leveraged an opportunity based on strong oil and gas fundamentals in the offshore sector by backing a strong growth platform |
| 2005 | An innovative Macquarie-led consortium enabled Orica to acquire strategic Dyno Nobel operations in key geographies and successfully exited the remaining operations via IPO |