H&F completes take-private At Home buyout

Hellman & Friedman has closed its previously announced take-private buyout of At Home, a home décor superstore. The acquisition puts At Home at a valuation of $2.8 billion. As a result of the transaction’s closing, At Home no longer trades on the New York Stock Exchange.

PRESS RELEASE

PLANO, Texas & SAN FRANCISCO — July 23, 2021
Funds affiliated with Hellman & Friedman (“H&F”), a premier global private equity firm, and At Home Group Inc. (“At Home”), the home décor superstore, today announced that they have completed a transaction in which H&F has acquired At Home in an all-cash transaction that valued the company at $2.8 billion, including the assumption of debt. With the completion of the acquisition, At Home’s common stock ceased trading and the company is no longer listed on the New York Stock Exchange.

“Hellman & Friedman takes great pride in partnering with outstanding management teams to invest in highly differentiated businesses with substantial room for growth. At Home fits that bill perfectly,” said Erik Ragatz, Partner at H&F. “We believe the unique shopping experience and compelling value At Home offers consumers will position the Company to continue to grow and take market share in the coming years, and we have great confidence in the team at At Home to deliver on this potential.”

Lee Bird, Chairman and Chief Executive Officer of At Home, said, “This transaction will allow us to partner with H&F to help continue our store expansion, grow our offering and strengthen our position as the leading retailer of home décor. I’m thankful to all our team members whose hard work has contributed to At Home’s success and made this transaction possible. I am confident H&F will help strengthen our business.”

Advisors
Goldman Sachs & Co. LLC served as exclusive financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP was legal counsel to the Special Committee. Guggenheim Securities, LLC served as financial advisor and Simpson Thacher & Bartlett LLP was legal counsel to Hellman & Friedman.

About At Home

At Home (NYSE: HOME), the home décor superstore, offers over 50,000 on-trend home products to fit any budget or style, from furniture, mirrors, rugs, art and housewares to tabletop, patio and seasonal decor. At Home is headquartered in Plano, Texas, and currently operates 230 stores in 40 states. For more information, please visit us online at investor.athome.com.

About Hellman & Friedman
Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on large-scale equity investments in high quality growth businesses. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation and collaborative partnership approach enable companies to flourish. H&F targets outstanding businesses in select sectors including software & technology, financial services, healthcare, consumer & retail, and other business services. The firm is currently investing its tenth fund, with over $24 billion of committed capital, and has over $80 billion in assets under management and committed capital. Learn more about H&F’s defining investment philosophy and approach to sustainable outcomes at www.hf.com.