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Posted by Anna Restuccia (Harvard Law School), on Thursday, February 1, 2024 Editor's Note: This post provides the text of the post-trial opinion regarding the case between Richard J. against Elon Musk, decided by the Delaware Court of Chancery on January 30, 2024. Tornetta on behalf of Tesla, Inc. Varallo, Glenn R.
Posted by Sean Feller, Krista Hanvey, and Christina Andersen, Gibson, Dunn & Crutcher LLP, on Wednesday, February 21, 2024 Editor's Note: Sean Feller and Krista Hanvey are Partners, and Christina Andersen is Of Counsel at Gibson, Dunn & Crutcher LLP. The process arrived at an unfair price.” [3]
Private equity value creation came on my radar a few years ago when I noticed something: Even though traditional PE deal roles were not doing well, “operational” or “value creation” teams still seemed to be recruiting. What Does the Private Equity Value Creation Team Do in Real Life? Why is PE Value Creation Suddenly “Hot”?
Return on Equity 1. Equity Risk Premiums 2. Costs of equity & capital 4. Costs of equity & capital 1. Fundamental Growth in Equity Earnings 2. Return on Equity 2. Standard Deviation in Equity/Firm Value 2. EBIT & EBITDA multiple s 5. Beta & Risk 1. Debt Details 1. Buybacks 2.
In my last three posts, I looked at the macro (equity risk premiums, default spreads, risk free rates) and micro (company risk measures) that feed into the expected returns we demand on investments, and argued that these expected returns become hurdle rates for businesses, in the form of costs of equity and capital.
As EBITDA and revenue multiples on larger platform acquisitions increased through 2021 and into the early part of 2022, many sponsors turned to consolidation and “buy and build” strategies, characterized by using smaller add-on acquisitions with lower price multiples to build value. This post comes to us from Goodwin Procter LLP.
While debt is cheaper than equity , cost of debt plays a pivotal role in shaping M&A activity in the lower middle market. Valuation in the private markets is often defined by a business’ EBITDA. What is EBITDA? EBITDA is essential for planning exit strategies , such as selling a business or seeking investment.
06, 2024 (GLOBE NEWSWIRE) -- Profire Energy, Inc. NASDAQ: PFIE ), a technology company (the "Company") that provides solutions which enhance the efficiency, safety, and reliability of industrial combustion appliances, today reported financial results for its third quarter ending September 30, 2024. Generated EBITDA of $3.1
May 20, 2024 (GLOBE NEWSWIRE) -- Star Equity Holdings, Inc. NASDAQ: STRR , STRRP)) ("Star" or the "Company"), a diversified holding company, announced today it has completed the acquisition of Timber Technologies, LLC ("Timber Tech"), a Wisconsin-based engineered wood products manufacturer, effective May 17, 2024. Earn-out Adj.
22, 2024 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. NASDAQ: ROIC ) announced today financial and operating results for the three and nine months ended September 30, 2024. per diluted share) FFO per diluted share guidance for 2024 updated ($1.03 - $1.05 net principal debt-to-annualized EBITDA ratio for 3Q‘24 (vs.
This acquisition represents about 14 times the estimated 2024EBITDA on a tax-adjusted basis. The deal is anticipated to close in the second half of 2024, pending customary closing conditions and regulatory approvals. billion in an all-cash transaction.
SAN DIEGO, April 23, 2024 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. NASDAQ: ROIC ) announced today financial and operating results for the three months ended March 31, 2024. per diluted share) FFO per diluted share guidance for 2024 reaffirmed ($1.03 - $1.09 FFO for the first quarter of 2024 was $37.9
times Rytec’s estimated 2024EBITDA. Nucor Corporation (NYSE: NUE ) shares are trading lower after the company inked a deal to acquire Rytec Corporation in an all-cash transaction valued at $565 million. The acquisition price equates to around 12.5
(NASDAQ: ACB ) (TSX: ACB ) reported its financial and operational results on Thursday for the third quarter of fiscal year 2024. CEO Miguel Martin said that medical cannabis net revenue has increased significantly year-over-year, adding the third quarter represents the company's fifth consecutive quarter of positive adjusted EBITDA.
The transaction price represents a premium of around 20% to the 30-day volume weighted average share price (VWAP) as of Friday, April 12, 2024, and about 29% to the 90-day VWAP as of the same date. EV/2023A EBITDA and 6.3x EV/2023A EBITDA, including run-rate synergies. Encore’s implied Enterprise Value (EV) of around €3.9
per share for Kellanova reflects a 44% premium over its 30-day average trading price and a 33% premium over its 52-week high as of August 2, 2024. times its last twelve months adjusted EBITDA as of June 29, 2024. The transaction price of $83.50 The deal values Kellanova at 16.4
The acquisition grants Helmerich substantial entry into land operations in the region, where KCA Deutag earned about 70% of its 2023 Operating EBITDA. The transaction is expected to close before the end of calendar year 2024, pending customary closing conditions.
The company also intends to launch a voluntary takeover offer for Marel in the first quarter 2024. and consensus: $4.02), adjusted EBITDA of $272 million – $275 million (vs. previous outlook of $265 million – $271 million), and adjusted EBITDA margin of 16.4% – 16.6% (vs. prior guidance of $3.95 – $4.10
per share, reflecting a premium of approximately 19% over Universal Stainless’ three-month volume-weighted average stock price as of October 16, 2024, and a valuation of 10.6 times trailing 12-month Adjusted EBITDA as of June 30, 2024. The acquisition will give Aperam its first manufacturing facility in.
CWT serves 4,000 customers and is expected to generate about $850 million of revenues and $70 million – $80 million of Adjusted EBITDA in 2024. The transaction values CWT at approximately $570 million on a cash-free, debt-free basis. “Bringing CWT onto the proven Amex GBT software and services model will create more choice for.
.” We explored the evolving trends in mergers and acquisitions (M&A) for the first half of 2024, offering insights into how market conditions are influencing deal structures, valuations, and strategic planning. In some cases, smaller firms are coming together to bolster their EBITDA and achieve higher multiples.
This acquisition, which is approximately 13 times the estimated 2024EBITDA, will significantly enhance Honeywell’s energy transformation offerings. .’s (NYSE: APD ) liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction.
KMI expects the investment to be accretive to its shareholders, with the purchase price representing a 2024EBITDA multiple of 8.6 times and a long-term investment-to-EBITDA multiple of approximately 7.0-7.5 times, based on KMI's financial projections and inclusive of commercial synergies.
.” We explored the evolving trends in mergers and acquisitions (M&A) for the first half of 2024, offering insights into how market conditions are influencing deal structures, valuations, and strategic planning. In some cases, smaller firms are coming together to bolster their EBITDA and achieve higher multiples.
NASDAQ: FIVN ) shares are trading lower after the company reported second-quarter 2024 results. Adjusted EBITDA rose to $41.8 Five9, Inc. Revenue was $252.1 million, beating the consensus of $245.2 Adjusted gross margin stood at 60.5%, down from 61.8% million from $41.5 million a year ago. Operating cash flow came in at $19.9
The acquisition closed on March 22, 2024, and Atlantica's investment amount was approximately $66 million. The purchase price represents an Enterprise Value 1 /EBITDA 2 multiple of approximately 6.6 They have demonstrated a solid operating track record and currently do not have any project debt.
represents a 32% premium to Snap One’s closing shares price on April 12, 2024. multiple on Snap One’s adjusted EBITDA for the twelve months ending December 29, 2023, further adjusted by including projected annual run-rate synergies of $75 million. The per-share price of $10.75 The transaction represents a 7.4x
Pre-tax cash equity proceeds of approximately $750 million (US$545 million) net to TC Energy Buyers assume approximately $345 (US$250) million of outstanding Senior Notes Advances toward $3 billion asset divestiture target in 2024 CALGARY, Alberta, Aug. Comparable EBITDA for our U.S. a subsidiary of Énergir L.P.
The acquisition price represents around 10x the estimated 2024EBITDA multiple. Williams Companies Inc (NYSE: WMB ) penned a deal with an affiliate of Hartree Partners LP to acquire a portfolio of natural gas storage assets for $1.95 The deal includes six underground natural gas storage facilities in Louisiana and Mississippi.
The transaction cost implies 5x enterprise value to Sporting Products FY24 EBITDA, including estimated standalone costs. The deal is expected to close in the calendar year 2024, subject to stockholders and regulatory approvals and other customary closing. (CSG) for $1.91 Full story available on Benzinga.com
Valutico | Oct 24th 2024 The Valutico team is thrilled to introduce four new features that are now live on our main valuation platform. Explore the latest enhancements below, and keep an eye out for even more exciting updates in our final release of the year, coming in December 2024. EV/Sales, EV/EBITDA) and financial metrics (e.g.,
Analysts expect this to happen in the 2024 financial year. by using the Discounted Cash Flow method, specifically our Flow-to-Equity approach, as well as a Trading Comparables analysis. The Flow-to-Equity analysis produced a value of $28.1 billion using a Cost of Equity of 12.1%. We analyzed Sea Ltd. billion to $41.6
18, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. ("Bel," Bel will acquire an 80% stake upfront for $320 million in cash (subject to customary adjustments), plus up to $10 million of potential earnout payments for the 2025-2026 period, with the intent to purchase the remaining 20% by early 2027 based on future EBITDA performance.
net debt to Adjusted EBITDAP by March 2024. FY2024 EBITDA, or 9.9x Triumph anticipates using the majority of the proceeds, estimated at around $700 million after taxes, for debt reduction, aiming to reach a pro forma net leverage of about 4.0x when factoring in Full story available on Benzinga.com
EBITDA: $17M (5) / 2023 Adj. EBITDA: $20M (5) One production stage asset, two exploration stage assets As of December 31, 2023, total measured and indicated mineral resources: 1.6Moz at 3.92 3) Unaudited interim financial statements and notes of Greenstone as of and for the six months ended June 30, 2024. (4) NEW YORK, Dec.
Turtle Beach expects combined company revenues of $390 million to $410 million in the first 12 months of ownership (second-quarter 2024 through first-quarter 2025). The deal consideration comprises the issuance of 3.45 million shares of Turtle Beach and cash of about $79.9 at the mid-point of estimated.
DALLAS, April 01, 2024 (GLOBE NEWSWIRE) -- Blackboxstocks Inc. Executed a binding LOI with Evtec in November of 2023 which resulted in $575,000 in extension fees and expense reimbursements to Blackbox and up to an additional $400,000 in working capital in March and April of 2024. of the equity of the combined company.
19, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. 2025 EBITDA multiple. The transaction is expected to increase DT Midstream's pipeline segment to approximately 70% of Adjusted EBITDA in 2025 and will increase the backlog of organic growth projects. The corrected release follows: DT Midstream Announces $1.2
19, 2024 (GLOBE NEWSWIRE) -- Lesaka Technologies, Inc. as of November 18, 2024) will be paid over two tranches with the first tranche settled at closing and the second tranche a year later. The Company expects the transaction to be concluded at an EV/EBITDA multiple of approximately 6.0 JOHANNESBURG, Nov.
04, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. Under the agreement, Ormat paid $271 million for 100% of the equity interest in the portfolio assets. Renewable Energy Sector Increased Ormat E lectricity S egment G enerating P ortfolio to 1,215 MW Assets L ocated i n Nevada, Utah , Connecticut and California RENO, Nev.,
ET HOUSTON and MIDLAND, Texas, July 22, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. Acquired assets are expected to generate approximately $136 million of third quarter 2024 annualized adjusted EBITDA, exclusive of any anticipated synergies. third quarter of 2024 annualized adjusted EBITDA.
29, 2024 (GLOBE NEWSWIRE) -- Science 37 Holdings, Inc. The transaction, which has been unanimously approved by Science 37 Board of Directors, is valued at an equity value of approximately $38 million and will be structured as an all-cash tender offer to acquire all outstanding shares of Science 37. RESEARCH TRIANGLE PARK, N.C.,
July 01, 2024 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. million in equity, with an additional contingent equity earn-out consideration of up to $3.09 Transaction Highlights The FMS transaction is an equity-only deal with a total value of $20.6 BELGRADE, Mont., It includes $17.51 million.
19, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. 2025 EBITDA multiple. The transaction is expected to increase DT Midstream's pipeline segment to approximately 70% of Adjusted EBITDA in 2025 and will increase the backlog of organic growth projects. The pipelines have a total capacity of more than 3.7
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