BC Partners, which just three years earlier had saddled PetSmart with billions of dollars of debt to acquire Chewy, approached investors with a simple pitch: focus on services, such as grooming and training, that made the business resilient to online competitors.
October Issue of Mergers & Acquisitions Finds Lenders Eager to Support PE-Backed Deals, as M&A Rebounds
“Now we are busy again. It’s not like last year, but there is good deal flow,” says Avante Capital Partners founder Jeri Harman in the October issue of Mergers & Acquisitions.
Howard Marks has long been seen as one of the more staid voices in a distressed-debt.
“Liquidity is available for the right borrowers,” says Churchill's Randy Schwimmer, who is the founder and publisher of The Lead Left. Lenders aren’t adventurous with hold levels, but pricing has eased, and leverage is up, he reports.