🠈 Apollo Global Management 🠊
Apollo Global Management
Apollo Management is a New York based private equity firm that trades on the NYSE with the symbol NYSE.
Wikipedia claims the company was founded by coworkers of Michael Milken who developed a strategy of using junk bonds for leveraged buyouts. Milken was convicted of insider trading in 1989.
Apollo's founder Leon Black is known to have paid Jeffrey Epstein at least $75m for "professional services" and visited islands owned by the convicted pedophile. Black regrets that the info is in the news.3
Apollo has engaged in thousands of transactions. Below is a list of select transactions.
- 1990: Leon Black and others created Apollo Advisors after the bankruptcy of Drexel Burnham Lambert to engage in leveraged buyouts.1
- 1997: Apollo acquired Vail ski resort and held IPO.
- 1998: Apollo Management and Bear Stearns receive $260M in preferred stock the Rental Choice / Rent-A-Center merger.
- 1998: Apollo invested $125 million seed money in National Financial Partners to build a network by acquiring small financial service firms.
- 2004: Apollo acquired Borden Chemical from KKR.
- 2004: Apollo and Sterling Partners acquired Connections Academy.
- 2011: Pearson acquired Connections for more than $400 million.
- 2006: Apollo and NRDC acquired the public company Linen 'n Things. LNT declared bankruptcy in 2008.
- 2007: Apollo acquired Claire's for $3.1 billion.
- 2010: Columbia Lake Acquisition Holdings, Inc., an affiliate of Apollo, acquired CKE Restaurant Group (Carl's Jr. & Hardee's) for $693.9 million after a bidding war with THL Partners.
- 2013: Apollo sold CKE to Roark Capital Group for $1.65-$1.75 billion.
- 2011: Apollo organized the merger of Sprouts, Sun Harvest and Henry's Market as Sprouts Farmers Market.
- 2012: Apollo acquired Great Wolf Resorts after a bidding war with KSL Capital Partners
- Centerbridge Partners acquired the resort for $1.35 billion.
- 2014: Apollo acquired CEC Entertainment which owns Chuck E Cheese brand of restaurants.
- 2014: Apollo acquired Phoenix-based Peter Piper Pizza which it added to CEC Entertainment.
- 2020: CEC declared bankruptcy, due primarily to the $1.2 billion debt created by Apollo.
- 2016: Apollo acquired Maxim Crane Works LP and AmQuip Crane Rental LLC which they merged into a company with $1.4 billion under the Maxim brand.
- 2016: Apollo acquired Diamond Resorts.
- 2017: Certain Investment Funds affiliate of Apollo acquired ClubCorps for $1.1 Billion.
- 2017: Apollo Global bought a majority stake in CareerBuilder.
CareerBuilder.com is a Chicago based employment site that works with major newspapers to create job listings.
- 1995: Robert J. McGovern created a company called NetStart
- 1996: NetStart raised $2m in investment.
- 1998: NetStart changed its name to CareerBuilder.
- 1999: NetStart raised an additional $8M in an IPO.
- 2000: A joint venture by Knight Ridder and Tribune Company purchased CareerBuilder for $194 and CareerPath.
- 2002: Gannett bought a third stake in the company.
- 2017: Apollo acquired West Corporation for about $2 billion + assumption of $3 billion in debt.5
History of WestCorp
- 2018: Apollo acquired QDoba Mexican Grill for $305 million.
- 2020: Leon Black stepped down from CEO after audits showed he made more than $150 million in payments to convicted pedophile Jeffrey Epstein.4
- Wikipedia - Apollo Management (Drawn 1/7/2018)
- Washington Post - LNT Agrees to Buyout (Drawn 6/23/2018)
- Deal Breaker - Leon Black (Drawn 10/16/2020)
- Yahoo Finance (Drawn 1/27/2021) https://finance.yahoo.com/news/jeffrey-epstein-tied-to-leon-black-other-business-leaders-183455607.html
- Reuters - Apollo Buys West Corp (Drawn 12/29/2021)
- Yahoo - Apollo acquires Ambassador (Drawn 12/29/2021)
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