Garmin going public, hopes to raise $230M

Article Abstract:

Garmin Ltd plans to hold an initial public offering (IPO) of its stock, which is expected to raise $230 million for the Cayman Islands holding company. Garmin is the parent company of Garmin International, the Olathe- based manufacturer of GPS and sonars. Proceeds from the IPO will be used by Garmin for working capital and other general corporate purposes. Garmin also plans to use part of the $230 million in creating new products and markets.

Organizational history, Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing, Marine Electronics, Cayman Islands, Garmin Ltd.

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Another monster deal for McKelvey

Article Abstract:

Sturgeon Bay, WI-based boatbuilder Palmer Johnson has been acquired by Monster.com founder and billionaire Internet entrepreneur Andrew McKelvey. The businessman intends to transform Palmer Johnson into a giant in the megayacht business, and has tapped Phil Friedman to head the company. McKelvey has also infused fresh funds into Palmer Johnson's 30-acre refit facilities in Savannah, GA. The Sturgeon Bay yard is also being expanded.

Asset sales & divestitures, Boat Building, Wisconsin, Boat Building & Repair, Palmer Johnson

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