Manager M&A down but certainly not out
Deal numbers decline, but assets involved are up; big players tease more in 2021
Jeffrey B. Stakel sees revenue pressure and slower growth as big factors for continued consolidation.
Money management merger and acquisition activity slowed a bit in 2020 compared with 2019, even as some of the industry s largest players, including State Street and Vanguard, were said to be eyeing asset management deals and opportunities.
While there were fewer deals last year, deals appeared to be larger overall, representing more transacted assets. There were 214 global asset management transactions during the year ended Nov. 30, down from 247 transactions from January through November in 2019, data from Piper Sandler Cos. shows. During the 11-month period last year, $2.59 trillion in assets under management were transacted, up from $1.18 trillion in AUM transacted from January through November in 2019, Piper Sandler found.
BW Businessworld
Hand Wash Stations Provider United Site Up For Sale For $4 Billion After COVID-19 Boost
The COVID-19 pandemic has accelerated the growth of the hand wash stations industry, with the market seen growing from $919.4 million in 2019 to almost $1.5 billion by 2027
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Portable toilets vendor United Site Services Inc is exploring a sale that could value it at around $4 billion, including debt, as its hand wash stations business sees strong demand during the pandemic, people familiar with the matter said on Friday.
Platinum Equity LLC, the buyout firm which owns United Site Services, has hired investment bankers to advise it on a sale process, the two sources said, requesting anonymity as the matter is confidential.
Exclusive: Hand wash stations provider United Site up for sale for $4 billion after COVID-19 boost -sources
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(Reuters) - Portable toilets vendor United Site Services Inc is exploring a sale that could value it at around $4 billion, including debt, as its hand wash stations business sees strong demand during the pandemic, people familiar with the matter said on Friday.
Platinum Equity LLC, the buyout firm which owns United Site Services, has hired investment bankers to advise it on a sale process, the two sources said, requesting anonymity as the matter is confidential.
United Site Services was valued at just $1.15 billion when Platinum Equity acquired the Westborough, Massachusetts-based company four years ago, according to credit ratings agency Moody’s Investors Service Inc. It now has 12-month earnings before interest, taxes, depreciation and amortization of more than $300 million, according to the sources.
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(Reuters) - Portable toilets vendor United Site Services Inc is exploring a sale that could value it at around $4 billion, including debt, as its hand wash stations business sees strong demand during the pandemic, people familiar with the matter said on Friday.
Platinum Equity LLC, the buyout firm which owns United Site Services, has hired investment bankers to advise it on a sale process, the two sources said, requesting anonymity as the matter is confidential.
United Site Services was valued at just $1.15 billion when Platinum Equity acquired the Westborough, Massachusetts-based company four years ago, according to credit ratings agency Moody s Investors Service Inc. It now has 12-month earnings before interest, taxes, depreciation and amortization of more than $300 million, according to the sources.
Macau casino operator Wynn Macau Ltd said in a Wednesday filing it expected to raise US$765.9 million net from an add-on issuance of senior unsecured notes valued at a principal amount of US$750 million, thanks to being able to charge investors a 3 percent premium on the principal amount.
Wynn Macau Ltd – which operates the Wynn Macau resort on the city’s peninsula, and Wynn Palace (pictured) in Cotai – reiterated commentary it gave in a Monday filing when it first announced the add-on notes plan, that it intends to use the net proceeds for “repayment of a portion of the amounts outstanding under the Wynn Macau [Ltd] credit facilities”.