Is a Private Equity Club Deal Coming to a Pension Fund Near You?
Partnerships between private equity firms to buy large enterprises have historically turned out very badly.
Kristoffer Tripplaar/Sipa USA via AP Images
Medline Industries, the nationâs largest manufacturer and distributor of medical supplies to hospitals and doctorsâ offices, is about to become entangled in a private equity club deal.
One way that private equity (PE) firms have historically been able to take on larger and larger companies is through the use of so-called âclub deals.â This refers to when two or more private equity funds join together to acquire a huge enterprise, and share ownership. Once a more common structure, club deals have declined from more than 40 percent of all leveraged buyouts (LBOs) (not including add-ons) in 2004 to just 20 percent in 2018. Burned by past agreements that promised high returns but ended in distress or bankruptcy, pension funds and other limited partner
Abacai has an opportunity to drive insurtech consolidation but will not pay over the odds, says co-founder Hay Print this page
Backed by Sun Capital Partners, the new insurtech business fronted by former Aviva group CEO Mark Wilson has already added non-standard motor specialist Complete Cover Group and temporary cover broker
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April 13, 2021 · ·
Following successful company-wide launch, iconic Italian brand officially debuts traditional and boneless wing lineup at all locations
Lexington, KY (
RestaurantNews.com) The wait is finally over …
Fazoli’s fans can now indulge in craveable, crispy chicken wings at all of the brand’s locations across the country!
Seizing an opportunity to capitalize on off-premise’s tremendous growth, in September, the iconic Italian brand added wings in a variety of delicious flavors to its core menu at all company locations. Fazoli’s also began offering wings for delivery through its new virtual wing concept – Wingville™. After seeing success from the company-wide launch, Fazoli’s is now rolling out the items systemwide.
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StonePoint Materials Acquisition Expands Footprint in Texas and Louisiana and Provides Entry into New Markets in Tennessee, Kentucky, Pennsylvania, and West Virginia
Adds Pipeline of Organic Growth Opportunities and Bolt-on Acquisitions
Debut 4.375% $400 Million Senior Notes Offering Provides Attractive Long-Term Acquisition Financing
Arcosa, Inc. (NYSE:ACA) ( Arcosa or the Company ), a provider of infrastructure-related products and solutions, today announced that it has completed the previously announced acquisition of StonePoint Ultimate Holding, LLC and affiliated entities ( StonePoint ) from an affiliate of Sun Capital Partners for $375 million.
StonePoint is one of the 25 largest aggregates companies in the United States, with approximately 9 million tons of annual production across 20 locations, and more than 40 years of reserve life. StonePoint operates in three regions: Gulf Coast (Texas, Louisiana, Mississippi), Tennessee/Kentucky, and Pennsylvania/West Virgin
April 1, 2021 · ·
Iconic Italian brand signs record 20 agreements in a year – 11 in Q1 alone – to add 50 locations to pipeline
Lexington, KY (
RestaurantNews.com) With 11 straight months of record-breaking sales under its belt,
Fazoli’s is continuing its winning streak by adding a new franchise development milestone to its impressive list of recent achievements.
Fazoli’s CEO Carl Howard announced today that the company has signed 11 area development agreements in Q1 alone. Through this record-setting accomplishment, the iconic Italian brand added 36 new locations to its pipeline throughout California, Florida, Kansas, Oklahoma and Tennessee. During Fazoli’s fiscal year, which just ended, the brand signed a record-setting 20 new franchise agreements to develop 50 locations. This number surpasses the most agreements the brand has signed in a single year in its 33-year history. Additionally, over the last seven months, Fazoli’s has hosted 19 Discovery Day