Notable Deals

Consumer & Retail

Ignite Restaurant Group, Inc. (NasdaqGS:IRG) (“the Company” or “Ignite”) has acquired Romano’s Macaroni Grill (“Macaroni Grill”) for approximately $55 million in an all-cash transaction from Golden Gate Capital, management and other investors.

KeyBanc Capital Markets Inc. successfully advised Ignite Restaurant Group, Inc. (NasdaqGS:IRG) on its acquisition of Romano’s Macaroni Grill. Additionally, KeyBank National Association served as joint lead arranger and joint bookrunner on a new upsized credit facility to finance the transaction. The transaction closed on April 9, 2013.

KeyBanc Capital Markets acted as exclusive buy-side advisor to Ignite and provided a fairness opinion to Ignite’s Board of Directors. Additionally, KeyBank National Association served as joint lead arranger and joint bookrunner on a new upsized credit facility.

Ignite Restaurant Group, Inc.

Ignite Restaurant Group, Inc. owns and operates 131 Joe's Crab Shacks and 15 Brick House Tavern + Taps. Each brand offers a variety of high-quality, chef-inspired food and beverages in a distinctive, casual, high-energy atmosphere. Joe's Crab Shack and Brick House Tavern + Tap operate in a diverse set of markets across the United States. Ignite, a publicly traded company, is 68% owned by J.H. Whitney.


Industrial

KeyBanc Capital Markets advised on the successful sale of Citadel Plastics Holdings, Inc. a portfolio company of Wind Point Partners to Huntsman Gay Global Capital, LLC.  KeyBanc Capital Markets also acted as Joint Lead Arranger, Joint Bookrunner and Syndication Agent on $185 million of Senior Secured Credit Facilities utilized to support the acquisition of Citadel by Huntsman Gay.  Citadel and Wind Point engaged KeyBanc Capital Markets to serve as sell-side advisor based on our specialty chemicals industry expertise, relevant buyer insight and dedicated financial sponsor commitment to Wind Point.

Citadel Plastics Holdings, Inc.

Citadel is the world's largest manufacturer of bulk molding compound thermosets and one of the largest North American thermoplastic compounders.  The company markets its broad portfolio of proprietary products under well recognized brand names such as BMCI, Matrixx and QTR, which have become synonymous with the highest standards of quality, service and performance within the industry.

Oil & Gas

KeyBanc Capital Markets (“KBCM”) successfully priced $350 million of 5.5% Senior Unsecured Notes (the "Notes") for Kodiak Oil & Gas Corp. (“Kodiak” or the “Company”). The Notes were issued in order to facilitate repayment of the Company's existing senior secured credit facility (the "Senior Secured Credit Facility"). This transaction represents the Company’s third high-yield offering in 14 months. KBCM acted as joint bookrunner on the Notes transaction.

Kodiak Oil & Gas

Headquartered in Denver, Colorado, Kodiak is an independent oil and gas company with operations focused in the core of the Williston Basin of North Dakota. The Company has a substantial leasehold position of 153,000 net acres prospective for the Bakken and Three Forks formations. In December 2012, Kodiak achieved a production rate of 29,000 Boe per day (net). As of June 30, 2012, the Company had total proved reserves of 70.1 MMBoe, with a drilling inventory of over 11 years and over 800 net wells.

Real Estate

Retail Properties of America, Inc. is a fully integrated real estate company that owns and operates high quality, strategically located shopping centers. The Company’s properties are primarily located in retail districts within densely populated areas in highly visible locations with convenient access to interstates and major thoroughfares. As of December 31, 2011, RPAI owned 259 retail properties across 35 states comprising 34.6 million square feet. The Company also holds interests in 12 office properties, three industrial properties, one non-stabilized retail property, 24 retail properties held by three unconsolidated joint ventures, and three retail properties under development.

Retail Properties of America, Inc.

KeyBanc Capital Markets acted as Joint Bookrunner as Retail Properties of America, Inc. priced a 36.570 million primary share Initial Public Offering generating gross proceeds of $292.6 million. The proceeds from the offering will be used to paydown debt and acquire a minority partner’s 23.0% interest in 55 of the Company’s properties.  In addition, KeyBanc Capital Markets is currently Co-Lead Arranger and Administrative Agent on the Company’s $650 million senior unsecured credit facility.

Utilities, Power & Renewables

KeyBanc Capital Markets Inc. (“KBCM”) closed the successful sale of Route 66 Wind Power and Palouse Wind, a 255 MW portfolio of wind assets (the “Portfolio”) wholly-owned by First Wind Holdings, Inc. (“First Wind” or the “Company”). The Portfolio was sold to institutional investors advised by J.P. Morgan Asset Management. The Portfolio consists of two wind projects, including Route 66 Wind Power, a 150 MW wind project currently under construction in the Texas Panhandle, and Palouse Wind, an operational 105 MW wind project located in Washington State.

First Wind engaged KBCM to serve as exclusive sell-side advisor based on our longstanding relationship with the Company, industry-leading Utilities, Power and Renewable Energy practice and dedicated M&A execution capabilities. In addition, since 2009 KeyBank N.A. has financed nearly 650 MW of wind and solar projects for First Wind. First Wind is a leading renewable energy company exclusively focused on the development, financing, construction, ownership and operation of utility-scale renewable energy projects in the United States.

First Wind

First Wind is a leading renewable energy company exclusively focused on the development, financing, construction, ownership and operation of utility-scale renewable energy projects in the United States. Based in Boston, First Wind is operating or building renewable energy projects across the country, with combined capacity of nearly 1,300 megawatts (MW) – enough to power more than 375,000 homes each year.

Healthcare Investment Banking

KeyBanc Capital Markets acted as Joint Lead Arranger, Joint Bookrunner and Co-Documentation Agent on $1,975 million of debt capital, consisting of $1,525 million of Senior Secured Credit Facilities and $450 million of Senior Unsecured Notes for Patheon Pharmaceutical Services Inc., a portfolio company of JLL Partners. The proceeds were used for Patheon to go private and merge with the pharmaceutical products business from Royal DSM. The merged entity forms a leading global contract development and manufacturing outsourcing organization.

KeyBanc Capital Markets was chosen based on its strong relationship with JLL, our debt capital markets capabilities and healthcare industry expertise. Along with committed financing of the Senior Secured Credit Facilities, KeyBanc Capital Markets underwrote a portion of a $500 million Senior Unsecured Bridge Facility in November 2013, which was later replaced by the Senior Unsecured Notes offering.


Patheon Pharmaceutical Services Inc.

Patheon is a leading provider of contract pharmaceutical manufacturing outsourcing services and the leading provider of outsourced pharmaceutical development services to the global pharmaceutical and biotechnology industries. Patheon offers clients a wide range of CDMO services throughout the lifecycle of a pharmaceutical molecule, from early development of finished drug formulation through late development to commercial manufacturing, including lifecycle management services. Patheon is the leading provider of PDS (9%) services and is the second largest provider of CMO (5%) and soft gel formulation (16%) services globally. Patheon has established itself as a leader by leveraging its scale, global reach, specialized capabilities, service offering and expertise in regulatory compliance to provide cost-effective solutions to its customers.