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The Morning Leverage: Clearview Clears 68% IRR On Sale Of EN Engineering
31.12.69
Here’s a look at the top stories in this morning’s LBO Wire:
While the announcement of another exit strategy grabbed a few more headlines today, Clearview Capital ’s exit from EN Engineering comes with at least one solid number attached: 68%. That’s the firm’s internal rate of return from its three-year ownership of EN, which is coming to an end with the sale of the company to CIVC Partners for an undisclosed sum, LBO Wire’s Michael Wursthorn reports .
Golden Gate Capital , Blum Capital and Wolverine World Wide are tearing into Collective Brands like a golden retriever puppy into a tennis shoe. The two private equity firms and the bootmaker are acquiring the shoe company in a deal worth about $2 billion, Beina Xu reports . They plan to split the company up, with Golden Gate and Blum taking over Payless ShoeSource and Collective Licensing International, while Wolverine will take Collective’s performance and lifestyle group, including the wholesale and retail operations of Sperry Top-Sider, Saucony, Stride Rite and Keds.
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