Posted on: June 26, 2009 by Ari Nathanson
Per usual, we have a week’s worth of ratings actions on buyout-backed companies from Standard & Poor’s and Moody’s Investor Services. Not too much action, with just a trio of downgrades and one rating on a new issuance:
Company: EuroFresh Inc.
Sponsors: Bruckmann Rosser Sherrill & Co., Banc of America Capital Investors
Downgrade: S&P withdrew its ratings
Comment: S&P: “Withdrew its ‘D’ corporate credit rating and ‘D’ issue ratings on Eurofresh’s $170 million 11.5% senior notes due 2013 and $44.174 million step up senior subdiscount notes due 2014 because EuroFresh filed for Chapter 11 bankruptcy protection on April 21, 2009.”
Tags: Eurofresh, TSI Acquisition, Univision, Veyence Technologies
Posted on: April 23, 2009 by PEHub Administrator
NEW YORK (Reuters) – EuroFresh Inc., an Arizona grower of tomatoes and cucumbers, filed for bankruptcy protection on Tuesday, partly blaming changes in immigration law for the action that could cost its unsecured creditors millions of dollars. Its largest unsecured creditors include Apollo Investment Management, which holds $76.5 million in notes; Barclays Capital (BARC.L) with [...]
Tags: Bruckman Rosser, Eurofresh
Posted on: April 3, 2009 by Erin Griffith
Bruckmann Rosser Sherrill & Co.’s third buyout fund may be the latest firm to enter what we’ve been calling “Fundraising Purgatory.” It’s a place where not-yet-aborted funds lay in wait for “market conditions to approve.”
Since neither the firm or Knight Capital, its placement agent, wouldn’t call me back, I can’t be clear, but let’s look at the facts: Bruckmann Rosser entered the market, seeking $600 million, as early as July of 2007. That is 20 months ago. According to a Buyouts report, the fund accumulated $250 million from existing investors, with plans to hold a first close on that sum, in October 2007.
Yet according to regulatory filings, the firm has
Tags: Bruckman Rosser, Eurofresh
