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16 results for “retail mergers”
You're right. There's been changes. The biggest change was the blossoming of the LBO business, which really came on big in eighty four point five. The LBO business leveraged buyouts could be done if you had 50,000,000 of capital, you could buy a bill
12:45 / 13:46
from transcript12:45 – 13:46
National Gypsum, US Gypsum, that's RJR Nabisco was the biggest of the buyouts. It almost went under, but not quite. So that changed things. It made it hard to get the capital for buyouts. The leveraged buyout business actually had to reinvent itself.
13:29 / 14:31
from transcript13:29 – 14:31
There's two really real reasons that they can pay bigger valuation multiples for the companies on the sale from our managers. One is the companies are just better, higher quality. So that gives them the ability to do it. The other is they have the ab
45:00 / 46:05
from transcript45:00 – 46:05
a cable television operator or a company that owned a group of radio stations. It was striking how different those lists were, and I think it points to some of the difference between the two segments. In venture, it's all about winding up in the cate
25:22 / 26:33
from transcript25:22 – 26:33
That's why it's crucial to really understand how the buyers think, what drives their decisions, and how to proactively manage the process. You often only get one shot in an acquisition, so you can't afford to be unprepared or assume that things will
5:13 / 6:17
from transcript5:13 – 6:17
In 1991, we had our first crisis and many of the prominent LBOs of the eighties went under. Macy's, Federated, National Gypsum, US Gypsum, that's RJR Nabisco was the biggest of the buyouts. It almost went under, but not quite. So that changed things.
12:43 / 13:49
from transcript12:43 – 13:49
$600,000,000,000 worth of transactions in the buyout world got done. To put that into context, that's the fifth biggest year ever in the history of buyouts. So a big uptick in deal making and not just on the amount side, but the number of deals was u
1:31 / 2:39
from transcript1:31 – 2:39
But you might find some recurring aspect to the cash flows, which makes them credit worthy. And you're right. There's been changes. The biggest change was the blossoming of the LBO business, which really came on big in eighty four five. The LBO busin
12:01 / 13:04
from transcript12:01 – 13:04
One question I often get, which I think is certainly somewhat of a concern, is part of our thesis of what we do and what our managers are doing is they're taking these smaller companies that bigger private equity firms can't and don't want to invest
44:11 / 45:22
from transcript44:11 – 45:22
the industry had figured out that unloved businesses that weren't part of somebody else's core, but were good businesses in and of themselves could be invested in, and you could get revenue growth margin expansion and multiple expansion on the back e
15:37 / 17:07
from transcript15:37 – 17:07
Well, we think about them a lot. The honest answer is many of our companies get bought, not sold. Usually, the companies that we are trying to sell are companies that may be struggling. Maybe they struggle to raise money, and we're looking and saying
42:00 / 43:01
from transcript42:00 – 43:01
And I think that it's harder and harder to find management teams that wanna focus on that side of running the business or at least focus on, conglomerates and thinking about it through a portfolio approach rather than focusing on one specific product
36:44 / 37:51
from transcript36:44 – 37:51
The reality is exits are very rare. There's a bunch of coverage about this last week. Bloomberg ran an article about the 1,200 zombie corns, which is a new addition to the corn suffix, a little less, glamorous use of it. In the 2021 class of three fi
3:46 / 4:51
from transcript3:46 – 4:51
'15. Is that right? Yeah. I think it was 1516, somewhere in there. This is the only one where our sort of, We have exact numbers. We do have exact numbers and, we we know an exact annualized return, and we're not pegging that to the market cap today,
34:11 / 35:36
from transcript34:11 – 35:36
Improving the company's cost structure, so it was clear that they were probably a thousand basis points or so bloated relative to where they should be. And so what Greg did was sell off the second business, which was the cable set top box networks bu
35:55 / 37:10
from transcript35:55 – 37:10
And the end goal of all of it is that double digit earnings and revenue growth, significant free cash flow, and then strong and improving returns on capital. Acquisitions are this really key component because they acquire a business. About half the t
33:44 / 34:52
from transcript33:44 – 34:52
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