Private equity buys into the NFL, Ares ‘hon ored’ to be on list; Iconex is finally sold

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Private equity buys into the NFL, Ares ‘honored’ to be on list; Iconex is finally sold

Morning Hubsters, Rafael Canton here with the Wednesday Wire.

First, we have some big PE news in the sports world: the NFL has allowed a select group of PE firms to become investors in NFL teams. One of those GPs – Ares Management – shared its reaction with PE Hub, while we also hear from the head of Simpson Thacher’s mergers and acquisitions practice on the details of the agreement.

Second is a look at Wynnchurch Capital-backed M2S Group acquiring Iconex from Atlas Holdings.The deal follows PE Hub’s coverage of Iconex’s sale process.

Finally, we have a deal from this morning. Mill Rock Packaging, a portfolio company of Mill Rock Capital, has acquired the Woodland, California packaging and laminating assets of Everett Graphics.

Touchdown for private equity

After months of speculation, the NFL has officially approved private equity firms as investors. NFL owners met up in Minneapolis yesterday and voted to allow PE firms to take passive minority stakes in teams.

Find out more about which PE firms were approved, the guidelines for PE investors and thoughts from a couple of the firms and the head of Simpson Thacher’s mergers and acquisitions practice in the premium version of the Wire.

PE Hub has been monitoring the NFL news over the last few months, including why PE firms would be interested in investing in an NFL team.

Labeled a deal

Wynnchurch Capital-backed M2S Group acquired Iconex Labels from Atlas Holdings, the firm announced yesterday. Iconex is the largest US manufacturer of two-sided paper labels used on food and beverage containers.

Upgrade to the premium version of the Wire to learn more about the deal and Iconex being up for sale.

Iconex’s customer base includes categories such as foodservice, eCommerce and shipping, grocery and retail, and pharmacy. Foodservice has been a busy place for PE dealmaking. We recently highlighted seven foodservice deals in the past month involving focuses such as distribution, management and sourcing among others.

Packaging times two

Continuing with the packaging and labeling theme, we have a deal from this morning. Mill Rock Packaging, a portfolio company of Mill Rock Capital, has acquired the Woodland, California-based packaging and laminating assets of Everett Graphics.

Premium subscribers can learn more about the deal.

That’s it from me today. If you have any questions, thoughts, or want to chat, please email me at rafael.c@pei.group

Michael Schoeck will have the Wire for you tomorrow.

Cheers,

Rafael

In case you missed it

PE Hub is broadening its scope with new, in-depth coverage of European deals. Tune in, Wednesday, September 4, for the latest insights, key transactions, and expert analysis from across the European private equity landscape.

Whether you’re looking to stay on top of the market or find your next big opportunity, our expanded European deals coverage will keep you ahead of the curve.

Reach out to subscriptions@pei.group to book a no-obligation tour of PE Hub’s newly expanded deals coverage.

Read the full Wire commentary on PE Hub ...

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They said it

“I think this is a smart decision for the NFL, particularly as franchise valuations continue to rise. They have seen this avenue in other sports leagues become a successful path for creating additional liquidity. The NFL as well as the other leagues are putting in tailored guardrails as they gain more experience with private equity participants, including incorporating investment limits.”

— Eric Swedenburg, head of mergers and acquisitions, Simpson Thacher