ARAMARK-able Dividend for PE Investors

It’s been awhile since I’ve posted anything on the payout parade.

Well, today’s is a good one. ARAMARK, which provides food services to stadiums and arenas, is issuing $600 million in notes via a private placement. ARAMARK plans to use proceeds from the offering, along with proceeds it receives from borrowings under a revolving credit facility, to pay a dividend to ARAMARK stockholders.

Who are those shareholders? Philadelphia-based ARAMARK is backed by GS Capital Partners, CCMP, Thomas H. Lee and Warburg Pincus. In 2007, the PE firms, led by ARAMARK CEO Joseph Neubauer, acquired the then public company for $5.9 billion. ARAMARK had 2010 sales of $12.6 billion.