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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

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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:
Optima Acquires ALJ Regional Asset

The $112.5M deal transfers ownership of a steel mill in Ashland, Ky.

Optima Specialty Steel Inc. agreed to buy a subsidiary of ALJ Regional Holdings Inc. (Pink Sheets: ALJJ) that owns and operates a steel mill for $112.5 million in cash.

The target, KES Acquisition Co., is located near Ashland, Ky. and does business as Kentucky Electric Steel.

Following the repayment of all of KES’ outstanding debt and preferred stock, as well as the transaction expenses related to the merger, ALJ is expected to have roughly $51 million in cash.

Optima is a unit of Optima Acquisitions LLC, a Miami-based investment firm with assets in steel, ferroalloys, mining, and real estate.

ALJ tapped investment banks Houlihan Lokey and Roth Capital Partners LLC to manage the sale process. Law firm Morrison & Foerster LLP provided legal counsel. Optima hired Jefferies & Co. Inc. and Baker & McKenzie for financial and legal services, respectively.

 

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