Secondary finance is of primary importance
Article Abstract:
Management buy-outs (MBOs) may need to be able to use additional finance after the initial deal. Buy-outs have become important in the UK market for mergers and acquisitions, and their value totalled some 5 billion pounds sterling in 1995. Acquisitions are more common for MBO companies in the 1990s than they were at the start of the 1980s, and acquisitions may mean that companies need additional funds. This may mean that investors will be committed to a company for longer than usual.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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An acquisitive nature
Article Abstract:
Acquisition-led investments are becoming more common in the United Kingdom private equity market. Management teams can be given the task of locating acquisition targets and starting a dialog. Leveraged build-ups are common in the US, but less so in the UK. There is a need for a quality management team and a suitable platform with a good position in its market. Acquisitions also have to be available at th right prices. It is not easy for all three factors to be combined.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Bolt-on business
Article Abstract:
Leveraged buildups (LBUs) are a new development in the United Kingdom private equity market. The aims is to achieve fast growth through buying additional businesses, which can involve both equity and debt finance. LBUs are especially suitable for sectors undergoing rationalization where a number of opportunities are likely to appear. These sectors include business services, publishing, printing and engineering. LBUs need strong management in order to be successful.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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