TITLE

RathGibson Bankruptcy Unsettles PE

AUTHOR(S)
Davis, Avram
PUB. DATE
July 2009
SOURCE
Mergers & Acquisitions Report;7/20/2009, Vol. 22 Issue 29, p6
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the pre-arranged bankruptcy of tubing and pipe manufacturer RathGibson. In April 2007, the company was bought by DLJ Merchant Banking Partners at the peak of the leveraged buyout frenzy for about 440 million dollars. According to Kirk Thorne, vice president of sales and marketing, RathGibson suffered a 40% to 50% decline in demand for its core chemical product line, and a 45% to 50% drop in demand from commercial distributors.
ACCESSION #
44148404

 

Related Articles

  • DLJ Merchant Banking Partners Completes Acquisition of RathGibson.  // Welding Journal;Jun2007, Vol. 86 Issue 6, p6 

    The article highlights the plans of DLJ Merchant Banking Partners of New York, a private equity investment affiliate of Credit Suisse, to acquire RathGibson Inc. from Castle Harlan. RathGibson is a specialty manufacturer of highly engineered premium stainless steel and alloy welded tubular...

  • Intrigue Lives On at DU.  // Investment Dealers' Digest;2/7/2005, Vol. 71 Issue 5, p4 

    Reports on efforts of Credit Suisse First Boston Corp. to resolve a problem in its plan to spin out its DLJ Merchant Banking Partners LP leveraged buyout business. Partners Susan Schnabel and Steven Rattner's objection to the payout structure; Others funds of DLJ Merchant Banking Partners that...

  • Industrials Deal of the Year. MacFadyen, Ken // Mergers & Acquisitions: The Dealermaker's Journal;May2008, Vol. 43 Issue 5, p85 

    The article focuses on the sale of RathGibson by Castle Harlan to DLJ Merchant Banking for $440 million in June 2007. The sale of RathGibson has given Castle Harlan an internal rate of return exceeding 100% and a return on invested capital of over two and a half times. It discusses the changes...

  • An Uphill Battle to Bag The Biggest LBO Ever. MacFadyen, Ken; Fugazy, Danielle // Mergers & Acquisitions: The Dealermaker's Journal;Apr2007, Vol. 42 Issue 4, p64 

    The article presents information on several leveraged buyouts in the U.S. as of April 2007. Kohlberg Kravis Roberts (KKR) and Texas Pacific Group (TPG) plan to acquire TXU for $45 billion. DLJ Merchant Banking Partners and Morgans Hotel Group acquired the Hard Rock Hotel & Casino in Las Vegas,...

  • Katz now playing. Harrington, John // Crain's New York Business;7/18/94, Vol. 10 Issue 29, p30 

    Reports on DLJ Merchant Banking Partners' purchase of Katz Media Corp. for $99.6 million. Services provided by Katz.

  • Donaldson unit selling its stake in troubled lender 1st Franklin. Ratner, Juliana // American Banker;7/23/1996, Vol. 161 Issue 139, p14 

    Reports that DLJ Merchant Banking, the venture capital arm of Donaldson, Lufkin & Jenrette Securities Corp., is selling its stake in First Franklin Financial Corp. to BankAmerica Corp.'s Continental Illinois Venture Corp. Objective of the sale; Involvement of venture capital firms in the...

  • Katz cancels public offering with DLJ deal. Petrozzello, Donna // Broadcasting & Cable;7/18/94, Vol. 124 Issue 29, p18 

    Reports on Katz Media Corp.'s agreement to sell majority interest of its common stock to DLJ Merchant Banking Partners L.P. Estimated value of transaction; Previous speculation on Katz's initial public offering of its stock.

  • DLJ merchant near agreement to buy 1st Franklin. Saft, James H. // American Banker;5/6/1994, Vol. 159 Issue 87, p11 

    Reports on the final stages of selling of First Franklin Financial Corp. to DLJ Merchant Banking. Sign of the growing uncertainty and discomfort among moderate-size mortgage banks; Alliance with the Falls Church; Sale as an emblemat of a wave of midsize mortgage banks seeking protection in the...

  • Donaldson to buy control of Calif. lender.  // American Banker;6/3/1994, Vol. 159 Issue 106, p2 

    Reports on the plan to buy a controlling stake in First Financial Corp. by DLJ Merchant Banking Partners, an investment affiliate of Donaldson Lufkin & Jenrette Incorporated. Amount to be invested in exchange for stock; Merger plans by the principals; Projected results after combination.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics