Simpson Thacher is representing funds managed by Blackstone Real Estate Partners and Blackstone Tactical Opportunities in connection with their entrance into a definitive agreement to acquire International Market Centers, Inc. (“IMC”) from Bain Capital Private Equity, L.P. and funds managed by Oaktree Capital Management, L.P. Fireside Investments is also expected to partner with Blackstone in connection with the acquisition. The acquisition is expected to close during the third quarter of 2017 and is subject to customary closing conditions. Financial terms of the transaction were not disclosed.
IMC is the world’s largest operator of premier showroom space for the furnishings, home decor and gift industries, with 12.2 million square feet of exhibition space in High Point, NC and Las Vegas, NV. IMC’s mission is to build and operate an innovative, sustainable, profitable and scalable platform for the furnishings, home decor and gift industries.
The Simpson Thacher team includes Scott Kobak, Alison Ando and Molly Wolfe (Real Estate); Ben Schaye, Isaac Gruber, Wossen Ayele and Robert LiCalzi (M&A); Nancy Mehlman and Michael Badain (Tax); Andrew Blau and Eric Wolf (Executive Compensation and Employee Benefits); Adeeb Fadil and Noreen Lavan (Environmental); and Lori Lesser and Kate Stein (Intellectual Property). Summer Associates Ben Carson and Nathaniel Regenold also provided valuable assistance.