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Oaktree Said Close to Hiring AlixPartners for Quiksilver Bid

Oaktree Capital Management LP is close to hiring AlixPartners LLP to advise on its efforts to take over Quiksilver Inc., according to people with knowledge of the matter.
By
  • Bloomberg

HUNTINGTON BEACH, United States — Oaktree Capital Management LP is close to hiring AlixPartners LLP to advise on its efforts to take over Quiksilver Inc., according to people with knowledge of the matter.

As Quiksilver’s primary lender, Oaktree has the inside track on buying the company. However, the surf-wear retailer, which filed for bankruptcy in September, also contacted potential private-equity buyers, said the people, who asked not to be identified because the discussions are private.

Authentic Brands Group is actively looking at the assets, people with knowledge of those discussions said. Sycamore Partners, which controls Jones Group Inc., is among firms that spoke to the company, but it passed on a bid, people said. Golden Gate Capital, owner of outdoor clothing retailer Eddie Bauer, also had talked to the company, one person said.

AlixPartners will help Oaktree with research in bidding for the retailer’s assets and mapping out an operational plan, the people said.

Oaktree won court permission last month to provide $175 million of bankruptcy financing after it agreed to drop a $20 million breakup fee. Winning the financing put Oaktree in a commanding position to take over the Huntington Beach, California-based company when it emerges from bankruptcy around the end of January.

Representatives for Quiksilver, Oaktree, Golden Gate and Sycamore declined to comment, while spokesmen for AlixPartners and Authentic Brands didn’t immediately respond to messages seeking comment.

By Jodi Xu Klein, Kiel Porter, Lauren Coleman-Lochner; editors: Nabila Ahmed, Eric J. Weiner, Mitchell Martin.

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