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Granahan: 'Mid'dling Market

Wall Street celebrated a much-needed boost in confidence last week, a barometer that not only ignited a stock market rally but also prompted many to call the unofficial end of the recession. Someone should let the M&A market know about this.

At about the same time we were told that consumers felt better than at any time since Lehman Brothers fell last year, Baird was offering a dramatically different view of the world, one in which dealmaking between companies was ... well, less than confidence-building.

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DEALS

The Consultant Dilemma
Portfolio company CEOs may question the value consultants bring, though investors insist their intentions are good.

Gryphon Investors’ Intelligrated Adds FKI
The private equity firm is focused on developing its portfolio, notching another add-on deal in the process.

Littlejohn Exits Wyle Holdings
After building on its portfolio holding for five years, the private equity firm unloads the assets.

RH Donnelley’s Rollup Strategy Comes Undone
The yellow-pages giant blames its “growth-through-acquisition strategy” as it files for bankruptcy protection.

FAO Schwarz Sold To Toys“R”Us
The toy store, formerly a portfolio company of DE Shaw, is down to just two stores ahead of the sale.

MatlinPatterson, Black Diamond Seal Foamex Deal
The pair submitted the winning offer after the court restarted the auction to allow credit bids.

PE Consortium to Buy First Southern
Ex-BofA honcho Eugene Taylor will oversee the Florida bank's acquisition activity, sources say.

Russ Berrie Considers its Alternatives
The children’s consumer company, which was a buyer last year, may attract interest from private equity buyers.

PEOPLE

Raymond James Subsumes Lane Berry
Frederick Lane and Robert Berry, both DLJ veterans, will pick up senior roles as part of the acquisition.

Digital Ally Adds Banking Vet
Another bulge bracket pro exits the space to pursue corporate opportunities as the investment banking space shrinks.

Bryant Park Capital Adds Pros
The NYC-based bank builds onto its Philadelphia office with a pair of managing directors.

Southlake Equity Hires David Spuria
TPG Capital’s former general counsel joined the fledgling Dallas firm, launched two years earlier by Douglas Wheat.

Global M&A Gets CEO
Synergis Capital's Allison Dent will oversee the organization’s efforts to “consolidate” its current market position as the new head.

MESA Poaches Montgomery & Co. Exec
Daniel Gossels, who’ll be an MD at the media-focused boutique, worked on the mandates for Club Penguin, DailyCandy and IFilm.

Jones Day Hires Kirkland Restructuring Team
Seven bankruptcy and restructuring lawyers, including two partners, leave Kirkland & Ellis for rival firm.

Global Leveraged Capital Launches Advisory Arm
The bicoastal investment and merchant banker will see its newest initiative staffed by UBS veterans, including Thomas Benninger, Jeffrey Gelles and others.

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