Lazy Days RV Center Inc., a portfolio company of Bruckmann, Rosser, Sherrill & Co., has skipped an $8.1 million interest payment to holders of its 11.75% senior unsecured notes due 2012. The move prompted credit ratings downgrades from both S&P and Moody’s. Lazy Days said that it has a 30-day grace period before falling into […]
NEW YORK (Reuters) – The sale of bankrupt retailer Boscov’s Department Store LLC to a family group was delayed again at a court hearing on Tuesday, but is likely to be finalized on Friday. A group led by family members Al Boscov and Edwin Lakin is seeking to rescue the Northeast department store chain from […]
TORONTO (Reuters) – Chrysler Financial Canada said on Tuesday it is closing offices across the country to cut costs, a move that will affect about 145 of its employees, or nearly half its workforce. Facing a plunge in North American vehicle sales, the financial arm for Chrysler in Canada said it will close its Calgary […]
Big: America's 25 largest private equity-backed companies. Not the biggest deals or biggest exits or biggest returns, but the largest companies, in terms of revenues, under PE ownership now. Sneak peek, the top two are Cerberus companies, 3, 4 and 5 have KKR money. O, Canada: Last month I wrote that Canadian banks are not only open for business but healthy. Mergermarket takes it a step further, saying they'll be on the prowl for acquisitions. Scoopy: Apax, Oaktree and 3i are taking a look at Taylor Wimpley, the British Homebuilder. If You Missed the Automaker Hearing: Here's a very detailed liveblog. Kedrosky Was Right: The Path to financial engineering isn't quite as attractive to MBAs anymore, the Journal writes.
As promised, the slides to the keynote presentation given by Thomson Reuters' Matt Toole. The presentation covers fundraising, deal, cross border, and performance data for the first three quarters of the year. Some surprising stats, which I tried to keep up with in my liveblog. Download the full presentation here.
NEW YORK (Reuters) – U.S. casual clothing retailer Steve & Barry’s is set to announce this week it will go out of business, the Wall Street Journal said, citing two people familiar with the situation. Steve & Barry’s spokesman Christopher Fugarino declined to comment. Bay Harbour Management LC, a private equity firm based in New […]
Reporting from the Beverly Hills Hotel in sunny 90210, peHUB brings you a live and uncensored take on the state of left coast private equity. In a marathon liveblogging session, I'll be covering a keynote address from Thomson Reuters' Matt Toole, a keynote interview with Antony Ressler of Ares Management, and an LP panel. 1:14 The curtains have been drawn, and Matt Toole has taken the stage. Bring on the slideshow. 1:16 Missed the first two slides. He's saying co-investments and local offices in Asia will lead cross border investments. 1:17 We haven't seen a deal over $5 billion since July of last year. The decline in deals under that value is only in the 40 percentile, versus a 95% decline for
VMG Equity, a San Francisco consumer products-focused PE firm, has purchased a controlling stake in Robert’s American Gourmet Foods, a healthy snack maker based in New York. While I don’t know the multiple or price, this deal looks like a score for VMG. The target was highly sought after with a strong brand and revenue growth in […]
Whitcraft, a portfolio company of Golub Capital, has acquired Reliable Manufacturing Co., a Bloomfield, Conn.-based maker of precision components for the aerospace industry. The deal included $25 million in subordinated notes arranged by Golub.
Canterbury Park Capital has acquired around 58.2 million additional common shares of Paragon Pharmacies Ltd. (TSX: PGN), for around C$23.2 million. It now holds over 68 million shares, or a 69.9% ownership position.