Did Schorsch Overpay for Cetera?

Britton, Diana
February 2014
REP.;Feb2014, Vol. 38 Issue 2, p9
The article reports that RCS Capital Corp. (RCAP) is buying Cetera Financial from private equity firm Lightyear Capital for about one times Cetera's trailing 12-month revenue. Cetera's estimated 2013 revenue was 1.14 billion dollars. RCAP is getting 725 million dollars of committed debt financing from Barclays and Bank of America Merrill Lynch.


Related Articles

  • RCS Shops $725M M&A Loan. Fest, Glen // High Yield Report;3/10/2014, p9 

    The article reports on the effort of independent broker dealer RCS Capital Corp. (RCAP) to seek for lenders for a $725 million loan package which will be used to fund its acquisition of financial company Cetera Financial Group. It cites the assigned B+ ratings of credit rating agency Standard &...

  • RCS to Add Girard; Renames IBD Group. LEVAUX, JANET // Research;Oct2014, Vol. 37 Issue 10, p10 

    The article reports on the acquisition of broker-dealer Girard Securities by RCS Capital Corp. (RCAP) and has plans to rename financial advisor IBD Group to Cetera Financial Group. It highlights plans of RCAP to acquire financial services firm VSR Group. It also presents views of Larry Roth of...

  • RCS Capital Adds Cetera Financial for $1.15B. Collins, Allison // Mergers & Acquisitions Report;1/20/2014, Vol. 29 Issue 3, p26 

    The article reports that RCS Capital Corp. is acquiring Cetera Financial Group for 1.15 billion U.S. dollars in cash.

  • Cetera Ready to Grow.  // Investment Advisor;Apr2010, Vol. 30 Issue 4, p90 

    The article focuses on the acquisition of New York-based Lightyear Capital Inc. with independent broker/dealers that formerly constituted the ING Advisors Network. It was renamed as Cetera Financial Group. Chief executive officer (CEO) Valerie Brown says that the Cetera name reflects their...

  • Dollar Tree Plans Debt for $9.2B Deal: BOND NEWS.  // Leveraged Finance News;8/4/2014, Vol. 4 Issue 31, p3 

    The article reports that American supermarket operator Albertson's Holdings LLC is on the market with a 1,625 billion dollars bond offering to help finance its 9.2 billion dollars merger deal with American supermarket chain Safeway. It mentions that the supermarket operator plans to issue senior...

  • Weber Shandwick.  // PRWeek (U.S. Edition);May2012, Vol. 15 Issue 5, p43 

    The article presents a profile of public relation firm Weber Shandwick. The firm reported double-digit growth in each of its major regions growth after its merger with BSMG Worldwide. Some of its significant client in 2011 include BAE Systems, Bank of America Corp., and Michigan Economic...

  • Cobham overhaul to provide platform for aggressive second-half expansion. Tomlinson, Hugh // Finance Week (Centaur Communications);9/21/2005, p7 

    Reports on Cobham PLC's expansion plans in the second half of its financial year after completing a major refinancing and strategic overall of its business. Total value of its acquisition deals during the first half of 2005; Funding for its acquisition activities; Bank of America and BNP...

  • AES Powers to Market with M&A Loan. Sheahan, Matthew // High Yield Report;5/23/2011, Vol. 22 Issue 21, p22 

    The article reports that AES, a power generation company, is on the market for a 1.05 billion U.S. dollars 7-year cov-lite term loan to finance its acquisition of DPL valued at 4.7 billion U.S. dollars. AES also plans to issue 800 million U.S. dollars revolving loan and 1 billion U.S. dollars in...

  • Cetera Acquires Genworth, Rounds Out Business Mix. Britton, Diana // Registered Rep Exclusive Insight;1/9/2012, p1 

    The article reports on Cetera Financial Group's plan to acquire Genworth Financial Services (GFIS), the broker/dealer arm of Genworth Financial. The deal will add approximately 1,800 advisors who focus on tax and accounting services to Cetera's broker/dealer operations Multi-Financial, Financial...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics