Acosta Sales & Marketing

bankrupt

Services — Thomas H. Lee Partners

Deal Terms

Entry Year2014

Entry EV$4.75B

Entry Multiple10x

Leverage7x

Debt Amount$3.33B

Outcome

Exit Year2019

Risk Metrics

LTV (est.)70%

Debt / EV0.70x

Notes

THL $4.75B LBO of CPG sales/marketing services company. $3.33B debt. Consumer brands shifted to digital marketing, cutting Acosta's core in-store merchandising business. Filed Chapter 11 Dec 2019. $3B+ in liabilities. THL lost entire equity. Physical retail services + PE leverage = crushed by digital shift.

Sponsor

Partners Group$185B AUM