BlackRock's private credit arm, HPS Investment Partners, and distressed debt specialist Oaktree Capital have taken control of MBS Group, a major equipment supplier for film studios. This seizure occurred last week after MBS Group defaulted on $900 million in debt.
The previous owners, Hackman Capital Partners and Affinius Capital, exited their stakes in MBS Group as part of this transaction. They had acquired MBS in 2019 from Carlyle for $650 million.
This move by BlackRock and Oaktree highlights the increasing activity in the distressed debt market, particularly within the entertainment sector.
