L Catterton related stories
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Done deals, week of July 20, 2009Buyout deals are disclosed transactions from July 8 to July 15, based on Thomson Reuters data
- peHUB Wire: Monday, July 20, 2009
Breaking Down Blackstone
- peHUB Wire: Monday, July 20, 2009
Breaking Down Blackstone
- Catterton & Highland Buy StriVectin
Catterton Partners and Highland Consumer Fund have acquired cosmeceutical brand StriVectin and related assets from affiliates of Klein-Backer. No financial terms were disclosed.
- Counting on Consumers
Former Kool-Aid brand manager raises growth fund to invest in consumer products companies, such as a maker of disposable diapers
- Weekly Downgrade Wrap-up
As usual, I have a week and a day’s worth of Moody’s and S&P downgrades on PE-backed companies. This week, there were nine new ones, including two backed by Warburg Pincus and two from Bain Capital. (Apologies for the delay as I was out Friday and Monday) Company: Rafaella Apparel Group Sponsor: Cerberus Capital Management Downgrade: S&P announced a corporate credit rating downgraded from 'CCC' from 'B-'.The outlook is negative. Highlights: “We estimate that leverage may increase to over the 11.5x area (assuming debt levels do not increase significantly from current levels) if revenues decline by about 13% for fiscal 2009 from fiscal 2008 levels and EBITDA margins remain in the low single digits, which may reduce Rafaella's net income covenant cushion.”
- The Polls Are Open!
Don’t miss your chance to vote for this year’s Deal of the Year awards! The editors of Buyouts Magazine are putting three categories up for online voting this year. The categories and their nominees are: Large-market Deal **DoubleClick (Hellman & Friedman and JMI Equity) **Intelsat (Apax Partners, Apollo Management, Madison Dearborn Partners, Permira) **Norcross Safety Products Corp. (Odyssey Investment Partners) Mid-market Deal **American Public Education Group (ABS Capital) **AmeriCast Technologies Inc (Castle Harlan) **Anchor Drilling Fluids USA (American Capital) **The Cortland Companies (Cortec Group) **Wellness Pet Food (Catterton Partners) Small-market Deal **Specialty Coating Systems Inc (Bunker Hill) **Sterling Foods International (ICV Capital) **WCI Cable Inc. (Carlyle Group) You can find more details including return multiples, revenue growth and IRRs on each deal at the online voting site. Go ahead and cast your ballot right herehttp://www.zoomerang.com/Survey/?p=WEB228SVTZ63CU
- Consumer VC raises $20M
2X Consumer Products Growth Partners in Chicago snags $20M for a growth capital fund focused on consumer products
- The Final List: 49 PE-Backed Bankruptcies in 2008
The final list of 2008 LBO-backed bankruptcies has 49 Chapter 11s. Download it after the jump. Repeat offenders include our turnaround investing friends at Sun Capital and Cerberus and our non-turnaround investing friends at Catterton Partners, Carlyle Group, Thomas H. Lee Partners, and Madison Dearborn Partners. The auto industry tops the list as worst-hit, claiming 11 of the Ch. 11's. Tied with automotive is retail, with 11 more of the 11's. Three of those are furniture retailers. Beyond that it's a toss-up with transportation + airlines claiming six, three media properties, three consumer products vendors, and two restaurants. Four of the companies have emerged from bankruptcy; several others have headed for Chapter 7 liquidation. For the record, it's nice to revisit the 2007 list, which included all of
- Lance Bids on Bankrupt Cookie Co. Archway
Lance Inc. (Nasdaq: LNCE) has made a $30 million “stalking horse” bid for the assets of snack food company Archway Cookies LLC, a bankrupt portfolio company of Catterton Partners.