Kind of a Big Deal: Insight Equity Completes Take-Private (And Other Fabulous Facts)
Posted on: February 6, 2009 by Erin GriffithNo Comments »
This week Insight Equity closed its $61.3 million take-private of Meadow Valley, a Phoenix-based construction contractor and construction material supplier. The firm struck the deal back in July, and even after the disaster that was Q4, Insight Equity and its lenders managed to close the deal at its original price, terms and conditions.
Not to say Insight Equity didn’t cry “MAC.”
Connor Searcy, Partner with Insight Equity, said, “We felt that there was a material adverse change in the business, but we still closed on the original terms and conditions from July. When we commit to a deal we get it done.”
Capital One and LBC provided financing for the deal. Insight Equity’s new mezzanine fund contributed as well. Which leads me to the following cluster of fundraising updates.
