Largest P-E deal for Blackstone since the top

Blackstone (BX +0.3%) seals the deal to buy industrial-products maker Gates Global from Onex (ONEXF +0.9%) and the Canada Pension Plan Investment Board for $5.4B, reports Bloomberg, which says the official announcement could come later today.

It would be Blackstone's biggest private-equity deal since taking over Hilton Worldwide in 2007.

Blackstone has seemingly been more seller than buyer of late as soaring stock markets make public valuations pricier than private ones. At $5.4B, Blackstone would be paying 9.6x Gates' adjusted EBITDA. Gates had filed to go public last December.

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Comments (2)
  • idkmybffjill
    , contributor
    Comments (1919) | Send Message
    BX's last biggest deal in 2007 signaled a market top. This might be as well...
    4 Apr 2014, 09:16 PM Reply Like
  • Patent News
    , contributor
    Comments (1475) | Send Message
    not necessarily.


    you must check underneath the hood.


    last deal was over-leveraged this one probably not so much and they have huge profits from HILTON deal.
    5 Apr 2014, 07:58 AM Reply Like
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