Transaction Summary
Intrepid's Role:
Intrepid served as the exclusive financial advisor to Star Waggons, guiding the Waggoner family through a comprehensive sale process. The team focused on identifying a partner aligned with the company’s culture and commitment to quality, ensuring the continuation of its esteemed reputation in the industry.
Outcome:
Star Waggons was acquired by Hudson Pacific Properties, Inc., a real estate company specializing in media and technology centers. The acquisition, part of a combined $222 million deal including Zio Studio Services, integrated Star Waggons into Hudson Pacific’s expanding production services portfolio.
Why It Matters:
This transaction highlights Intrepid’s expertise in advising family-owned businesses in the entertainment sector, emphasizing the importance of cultural fit and legacy preservation. By facilitating a partnership that respects Star Waggons’ heritage, Intrepid ensured the company’s continued success and growth under new ownership.
Overview
Founded in 1979 by actor Lyle Waggoner, Star Waggons became synonymous with on-location cast trailers, serving major film, television, and live event productions across North America. As the company expanded its fleet to nearly 700 trailers and extended operations to key production hubs such as Atlanta, Vancouver, and Albuquerque, the Waggoner family sought a partner to continue the company’s growth and uphold its legacy.
The Intrepid team served as a true extension of our company and family in our search for the party best suited to be a steward of my father’s legacy. They understood every aspect of our business and customer base, as well as our team and family dynamics. They ran an incredibly intensive process to maximize value and cultural alignment. We were overwhelmed by the amount of interest they generated by telling our story to the investment community.
Jason WaggonerPresident, Star WaggonsTransaction Summary
Intrepid's Role:
Intrepid served as the exclusive financial advisor to Star Waggons, guiding the Waggoner family through a comprehensive sale process. The team focused on identifying a partner aligned with the company’s culture and commitment to quality, ensuring the continuation of its esteemed reputation in the industry.
Outcome:
Star Waggons was acquired by Hudson Pacific Properties, Inc., a real estate company specializing in media and technology centers. The acquisition, part of a combined $222 million deal including Zio Studio Services, integrated Star Waggons into Hudson Pacific’s expanding production services portfolio.
Why It Matters:
This transaction highlights Intrepid’s expertise in advising family-owned businesses in the entertainment sector, emphasizing the importance of cultural fit and legacy preservation. By facilitating a partnership that respects Star Waggons’ heritage, Intrepid ensured the company’s continued success and growth under new ownership.
The Intrepid team served as a true extension of our company and family in our search for the party best suited to be a steward of my father’s legacy. They understood every aspect of our business and customer base, as well as our team and family dynamics. They ran an incredibly intensive process to maximize value and cultural alignment. We were overwhelmed by the amount of interest they generated by telling our story to the investment community.
Jason WaggonerPresident, Star Waggons- Mike Rosenberg Senior Managing Director
- Jonathan Zucker Managing Director Head of Capital Advisory
- Kevin Striepe Vice President