Restructurings, refinancings and rescues
Article Abstract:
Management buyout (MBO) practitioners obviously have an interest in continuing to support for firms which are in trouble, but agreeing a restructuring or refinancing is often complex. There are conflicting needs which must be reconciled, and the lead bank needs to be a strong leader during this period. For example, the equity provider may be sensitive about ceding any shares in the business to the senior debt lender, in case the bank wants to take control. The more negotiating parties there are, the more problems there tend to be, and vendors can often be obstructive.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1995
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Twenty years of shirts and still dreaming
Article Abstract:
Parker Hirst, producer of replica football shirts, has been the subject of a management buy-in by a team including managing director Keith Williams. The concern, which was established in the mid-1970s, has seen strong growth, but it was acknowledged that changes were necessary in order to ensure that it meets growing interest in football. Bank of Scotland supplied debt and working capital facilities of 4 million pounds sterling, with Causeway Capital investing 4.5 million pounds sterling of equity.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1996
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MBO served up for the second time
Article Abstract:
Rubicon Packaging has recently been the target of a second management buy-out (MBO) in only eleven years. The company currently boasts of turnover of over 10 million pounds sterling, and former sales manager David Davidson is leading the MBO. The company mainly operates for the food sector, producing quality, printed, folding cartons for own-label convenience foods. The MBO is being supported by Barclays Development Capital, and KPMG has acted as financial adviser.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1995
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