Private equity firm agrees to acquire At Home Group in $2.8B deal | Home Accents Today

PLANO, Texas — Hellman & Friedman, a world non-public fairness agency, has entered right into a definitive settlement to amass At Dwelling Group Inc., the house décor superstore, for an all-cash transaction valued at $2.8 billion.

“As we enter the following chapter for our firm, Hellman & Friedman is the perfect companion to advance our At Dwelling 2.0 long-term technique,” stated Lee Chicken, At Dwelling chairman and CEO. “Collectively, we may have the assets and adaptability to offer our clients with a differentiated expertise that meets their evolving wants. This transaction is a testomony to the achievements of our crew members, and I wish to thank every of them for all they do every day to contribute to the success of At Dwelling.”

Underneath the phrases of the settlement, At Dwelling stockholders will obtain $36 per share in money, which represents a premium of roughly 17% to the corporate’s closing inventory value of $30.67 on Might 4, the final buying and selling day previous to media hypothesis relating to a attainable transaction, and a premium of roughly 25% to the 30-day quantity weighted common share value.

“Because the main worth retailer of dwelling décor providing unmatched breadth and depth of product assortment at on a regular basis low costs, At House is well-positioned to proceed its lengthy observe file of retailer growth and development,” stated Erik Ragatz, Hellman & Friedman companion. “At Dwelling’s differentiated, low-cost working mannequin is disruptive to the normal dwelling channels and offers a powerful alternative for market share achieve. This acquisition is in keeping with Hellman & Friedman’s technique to spend money on market-leading companies with substantial runway for development.”

The transaction is anticipated to shut within the third quarter of 2021, topic to the satisfaction of customary closing situations, together with the approval of At Dwelling’s stockholders. Upon completion of the transaction, At Dwelling will grow to be a privately held firm and At Dwelling’s shares will now not commerce on The New York Inventory Alternate.

The transaction was negotiated on behalf of At Dwelling by a particular committee of its board of administrators composed of unbiased administrators with the help of unbiased monetary and authorized advisors.  Following the committee’s unanimous suggestion, the board unanimously permitted the mergere settlement and has advisable that the stockholders undertake and approve the merger settlement and the transaction.

Since its founding in 1984, Hellman & Friedman has invested in additional than 100 corporations. The agency at the moment has greater than $60 billion in belongings underneath administration. At Dwelling presents as much as 50,000 dwelling merchandise together with furnishings, mirrors, rugs, artwork, housewares, tabletop, patio and seasonal decor. The corporate at the moment operates 226 shops in 40 states.