Challenger Capital Advises Mark Wattles in Blockbuster, Hollywood Entertainment Deal
23 March 2005 - 8:41AM
PR Newswire (US)
Challenger Capital Advises Mark Wattles in Blockbuster, Hollywood
Entertainment Deal Wattles Offers to Purchase Hollywood
Entertainment Stores to Help Advance Acquisition By Blockbuster
DALLAS, March 22 /PRNewswire/ -- Challenger Capital Group, Ltd., a
Dallas- based full-service investment bank, is advising Mark J.
Wattles, former chairman of Hollywood Entertainment Corp.
(NASDAQ:HLYW), on his potential purchase of up to half of
Hollywood's video stores to facilitate Blockbuster's
(NYSE:BBINYSE:BBI.B) proposed acquisition of Hollywood. "Combining
Challenger's financial skills with Wattles' unique knowledge of
these assets and managerial talent sets us up to succeed on any
potential transaction involving Hollywood stores," said Mark
Stephens, Executive Director and CEO of Challenger. "The
transaction resources that Challenger will commit on Wattles'
behalf are considerable, enabling a deal to be negotiated and
consummated quickly." Challenger was started by Stephens, a 27-year
investment banking veteran, to fill a distinct void in the
investment banking market, resulting primarily from massive
industry consolidation. Previously, Stephens was the Dallas
managing director of Donaldson, Lufkin & Jenrette, which
subsequently became Credit Suisse First Boston. Stephens has
assembled a team of senior bankers who bring extensive experience
to Challenger with more than $160 billion in deals spanning more
than 250 transactions. "Challenger's team was hand picked to meet
our clients' corporate finance needs on a full spectrum basis,
including equity and mezzanine growth capital, bank debt, and
advisory services related to mergers, acquisitions, divestitures,
corporate real estate and business strategy," said Stephens. The
Challenger team currently includes 15 professionals. About
Challenger Capital Group, Ltd. Challenger Capital Group is a
Dallas-based, investment bank serving the corporate finance needs
of middle-market growth companies. Challenger specializes in
private placements of equity, mezzanine and debt as well as
advisory services, including mergers and acquisitions,
divestitures, corporate real estate and business strategy. The
Challenger staff has exceptional experience, having completed over
250 transactions representing more than $160 billion in aggregate
transaction value. Challenger's industry expertise includes the
consumer products, energy, entertainment, food service, healthcare,
industrial products, media, natural gas, oilfield service,
publishing, retail and telecom sectors. DATASOURCE: Challenger
Capital Group, Ltd. CONTACT: Peggy Bureau of Challenger Capital
Group, Ltd., +1-214-239-8608; or Elizabeth Browne of Michael &
Partners, +1-972-716-0500, ext. 26, for Challenger Capital Group,
Ltd.
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