(Reuters) – Russell Glass, founder and head of New York investment firm RDG Capital, has offered to buy the Japanese-themed restaurant Benihana Inc (BNHN.O) for $7 a share, the NY Post said, citing a person familiar with the matter. Benihana shares closed on Monday at $5.88. The deal values the company at $20.1 million, the […]
* Running a Company, but Can't Open an Attachment. Dick Fuld is blaming the Repo 105 mess on the fact that he can't open an email attachment on his phone. (FINS) *The club deal lawsuit rages (or should I say sputters) on through its 3rd appeal. (Deal Journal) * Barclay's Defines the word "Jerks" Loosely. (Daily Intel) * Top ten works of journalism from the decade. (NYU) *Avatar will make $400 million for News Corp. It'll also net a tidy profit for Dune Capital, a private equity firm. (Bloomberg)
Here are some potential M&A ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. For prior lists, see below. Mobile content provider "Jamster," doing business as Jamba, is being sold by its parent company, News Corporation, mergermarket reported. Swoozie's Inc., a maker of luxury gifts and stationery that filed for bankruptcy just weeks ago, will put itself up for sale at an auction on March 25, the company said on Monday. (Reuters)
MUNICH/FRANKFURT (Reuters) – German industrial conglomerate Siemens has decided to scrap plans to sell its hearing aid unit because bids were too low, two sources familiar with the matter said. The formal decision will be made in the next few days, most likely on Tuesday or Wednesday, they told Reuters on Monday, adding Siemens Healthcare […]
GTCR has acquired Athletic & Therapeutic Institute, an Illinois-based operator of 44 outpatient physical therapy centers, from KRG Capital Partners and Norwest Mezzanine Partners. No financial terms were disclosed. peHUB reported on the deal earlier this month.
Contrary to conventional wisdom, brands really can travel uphill. Apax Partners' successful ownership of apparel company Tommy Hilfiger is living proof. When the buyout firm took Tommy Hilfiger private in 2006, Tommy-branded apparel was being sold by warehouse outlet stores at deep discounts. Apax saw value in its international operations, and plunked down $450 million in equity for a total deal value of $1.6 billion. The firm promoted Fred Gehring from head of Europe to CEO, and embarked on two years of intense turnaround execution. Apax and Tommy's management sold its distribution business, acquired of licensees and aggressively expanded stores. Furthermore, Apax helped return Tommy Hilfiger to its status as a higher-end apparel brand by cutting back lower-end distribution and improving product quality. Ebitda increased by 42 percent under Apax's ownership, and debt fell from 4.3x Ebitda to 1.5x. That all happened in a matter of two years.
Senior Care Centers of America, a Clearview Capital portfolio company, has acquired Wilkes-Barre, Penn.-based Valley Crest Adult Day Care. The transaction closed on January 8, and is the fifth acquisition made by Senior Care since Clearview Capital's initial investment in 2005.
LONDON (Reuters) – Montagu Private Equity agreed to sell French medical diagnostics business Sebia to rival Cinven, the latest in a series of buyouts focused in niche areas of healthcare. The deal announced on Monday values Sebia at about 800 million euros including debt, 12.5 times its 2009 earnings, sources familiar with the situation said. […]
ONCAP Management Partners, the mid-market private equity unit of Onex Corp., has agreed to acquire Sport Supply Group Inc. (Nasdaq: RBI), a maker and distributor of sporting goods and branded team uniforms to the institutional and team sports market. The deal is valued at approximately $169 million, or $13.55 per share in cash.
Denham Capital has agreed to sell the assets of Excel Telecommunications to Matrix Telecom Inc., a portfolio company of Platinum Equity. No financial terms were disclosed. Excel is an Irving, Texas-based provider of integrated voice and data communications products and services to residential, commercial and carrier customers.