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1 Leveraged Recapitalization https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

2 Yell Group - 2001–2011 1 In 1997, TransWestern completed a leveraged recapitalization|leveraged recapitalisation in which Thomas H https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

3 TPG Capital 1 'TPG Capital' (formerly 'Texas Pacific Group') is one of the largest private equity investment firms globally, focused on leveraged buyout, growth capital and leveraged recapitalization investments in distressed companies and turnaround situations https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

4 Vector Capital 1 'Vector Capital' is a private equity firm focused on Value investing|value-oriented investments in technology companies. The firm invests across a range of situations including acquisitions of private companies, spinouts of non-core businesses from corporations, leveraged recapitalizations, Private investment in public equity|PIPEs as well as leveraged buyout|public-to-private buyouts. https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

5 Bain Capital - 1990s 1 New York Times, December 20, 2000 In 1999, the company reported $1.3 billion of revenue and completed a $1.25 billion leveraged recapitalization that resulted in a payout to shareholders https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

6 Bain Capital - Early 2000s 1 Bain had been able to recover value on its investment through a leveraged recapitalization|dividend recapitalization in 2003.[http://www.nytimes.com/2011/12/19/ us/politics/retirement-deal-keeps-bain- money-flowing-to-romney.html Buyout Profits Keep Flowing to Romney] https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

7 J curve - Private equity 1 Over time the fund will begin to experience unrealized gains followed eventually by events in which gains are realized (e.g., Initial Public Offering|IPOs, mergers and acquisitions, leveraged recapitalizations).[http://www.calpers.ca.gov/i ndex.jsp?bc=/investments/assets/equities/ai m/private-equity-review/understanding.xml Understanding Private Equity Performance: The J-CURVE Effect: Earning Acceptable Returns Takes Time] https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

8 Dividend recapitalization 1 A 'dividend recapitalization' (often referred to as a 'dividend recap') in finance is a type of leveraged recapitalization in which a payment is made to shareholders. As opposed to a typical dividend which is paid regularly from the company's earnings, a dividend recapitalization occurs when a company raises debt —e.g. by issuing Bond (finance)|bonds to fund the dividend. https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

9 Dividend recapitalization 1 Therefore, the additional debt burden of a leveraged recapitalization makes a firm more vulnerable to unexpected business problems including recessions and financial crises. https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

10 Equity co-investment 1 An 'equity co-investment' (or co-investment) is a Minority interest|minority investment, made directly into an operating company, alongside a financial sponsor or other private equity investor, in a leveraged buyout, leveraged recapitalization|recapitalization or growth capital transaction. In certain circumstances, venture capital firms may also seek co-investors. https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

11 Leveraged recapitalization 1 Such a maneuver is called a leveraged buyout when initiated by an outside party, or a leveraged recapitalization when initiated by the company itself for internal reasons https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

12 Leveraged recapitalization 1 Leveraged recapitalizations are used by privately held companies as a means of refinancing, generally to provide cash to the shareholders while not requiring a total sale of the company. Debt (in the form of bonds) has some advantages over equity as a way of raising money, since it can have tax shield|tax benefits and can enforce a cash discipline. The reduction in equity also makes the firm less vulnerable to a hostile takeover. https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

13 Leveraged recapitalization 1 Therefore, the additional debt burden of a leveraged recapitalization makes a firm more vulnerable to unexpected business problems including recessions and financial crises. https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

14 Archway Cookies - Changes in ownership - Specialty Foods Corporation / Parmalat / Catterton Partners 1 a private equity firm|private-equity firm specializing in leveraged buyouts, leveraged recapitalization|recapitalizations and growth capital investments in middle- market company|middle-market companies https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

15 Recapitalization - Leveraged Recapitalization 1 One example of recapitalization is a leveraged recapitalization, wherein the company issues Bond (finance)|bonds to raise money, and then buys back its own shares. Usually, current shareholders retain control. The reasons for this sort of recapitalization include: https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

16 Recapitalization - Leveraged Buyout 1 Another example is a leveraged buyout, essentially a leveraged recapitalization initiated by an outside party. Usually, incumbent equityholders cede control. The reasons for this transaction may include: https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

17 Hibu - 2001–2011 1 In 1997, TransWestern completed a leveraged recapitalization|leveraged recapitalisation in which Thomas H https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

18 GSO Capital Partners - Investments 1 * Mezzanine debt — GSO's Capital Opportunities Funds provide mezzanine capital as part of leveraged buyouts transactions, mergers and acquisitions and leveraged recapitalizations as well as for growth capital. https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

19 TPG Capital, L.P. 1 'TPG Capital' (formerly 'Texas Pacific Group') is one of the largest private equity investment firms globally, focused on leveraged buyout, growth capital and leveraged recapitalization investments in distressed companies and turnaround situations https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

20 GTCR 1 'GTCR LLC' is a private equity firm focused on leveraged buyout, leveraged recapitalization, growth capital and rollup transactions. Since 1980, GTCR has invested more than $10 billion in over 200 companies.[http://www.gtcr.com/about-us/ About GTCR], company webpage https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

21 J.W. Childs 1 'J.W. Childs Associates' ('JWC') is a private equity firm focused on leveraged buyout and leveraged recapitalization|recapitalization transactions for Middle-Market Companies|middle-market growth companies. JWC places particular emphasis on consumer products, healthcare and specialty retail companies. https://store.theartofservice.com/the-leveraged-recapitalization-toolkit.html

22 For More Information, Visit: https://store.theartofservice.co m/the-leveraged- recapitalization-toolkit.html https://store.theartofservice.co m/the-leveraged- recapitalization-toolkit.html The Art of Service https://store.theartofservice.com


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