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peHUB Wire: Friday, August 7, 2009Random Ramblings
- peHUB Wire: Friday, August 7, 2009
Random Ramblings
- Two More IPO Candidates
Buyout bosses have IPO fever, and last week's frenzied news cycle confirmed it. Today the Financial Times jumped /46238/kkrs-prudent-ipo-preparation/ on the exit-story bandwagon with its own version of the KKR/Dollar General story. On that note, we'd like to add two more potential IPO candidates to our list of 15 from last week ../../../../../../45946/15-more-potential-pe-backed-ipos/ 16. Dollarama (Bain Capital) I don't know how I overlooked this one, but this Canadian discount retailer must be performing on par with Dollar General. Bain Capital took over the company in 2004, when the firm purchased an 80% stake for $850 million. The company just reported its first quarter earnings for fiscal 2010 and they're looking strong: "For the 13-week period ended May 3, 2009, Dollarama Group L.P. recorded sales of $273.4 million, a 15.5% increase from $236.8 million the prior year. Comparable store sales rose 7.5% over the same quarter last year, lifted in part by 4.0% increase in average transaction size, as well as a 3.5% increase in store traffic."
- What Follows Dollar General? 15 More PE-Backed IPO Candidates
First Avago Technologies sets its IPO terms. Then came S-1 filings from Vitamin Shoppe, Emdeon and Bayview Mortgage Capital. Then comes today's news that discount retailer Dollar General has its registration on standby. A storm after months of calm, and we're left wondering about what tomorrow might bring. It's entirely possible that we'll see a growing number of PE-backed companies gearing up for public market listings. Look no further than the likes of Rosetta Stone, backed by ABS Capital, and Bridgepoint Education, backed by Warburg Pincus, to see that this year's small handful of buyout-backed IPOs have performed relatively well (on the venture side, it's even more hopeful ../../../../../../43462/vc-backed-ipos-rise-infinitely-in-q2/ ). If Dollar General sees a warm reception even with its approximate 4x leverage, it may break the seal for more mega-buyouts to test the waters. So cheer up, mega-buyout investors! Even though your stakes are worth next to nothing ../../../../../../38549/will-lps-pay-you-to-take-their-shares-short-answer-yes/ on the secondary market, some realizations may be heading your way. Even the
- peHUB Wire: Tuesday, July 28, 2009
Random Ramblings
- peHUB Wire: Tuesday, July 28, 2009
Random Ramblings