🠈 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
Select Transactions
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 History
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
References:
- 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)
Directory Listings:
- Internet Rivers - Jobs: CareerBuilder
- Internet Rivers - Private Equity Firms: Apollo Management