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ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Today’s Transactions:
Dover’s Buying Anthony International Marks Quick Exit for Avista

The refrigerator door manufacturer has grown over the years by acquiring Big Services Inc., Pike Door Products and Trausch Industries.

Dover Corp. (NYSE: DOV) has purchased Anthony International, a maker of commercial glass refrigerator and freezer doors, for $602.5 million.

The deal marks a quick exit for Avista Capital Partners. Anthony had spent just 17 months with the New York-based private equity firm, which acquired the Sylmar, Calif.-based target from Aurora Capital Group in June 2011 for an undisclosed price. American Securities sold Anthony to Aurora in 2004 for roughly $121.4 million.

Under Avista’s ownership, Anthony expanded by purchasing the assets of Big Services Inc., a Crawford, Ga.-based provider of remodeling and equipment installation services in March. Before that, under Aurora, Anthony was more acquisitive, picking up Pike Door Products of Elizabeth, N.J. in 2005 and Trausch Industries, a refurbishment services company formerly backed by the Edgewater Funds, in 2010. It also grew overseas, thanks to the 2007 acquisition of Shanghai-based Flying Glass Co., which serves the Chinese, Japanese, South Korean and Thai markets. In 2009, Anthony also acquired Italian manufacturer VAL SpA.

Weil Gotshal & Manges LLP acted as legal advisor to Anthony in the transaction, while Morgan Stanley managed the auction process.

 

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