New Look: Going Private with Private Equity Support

Achleitner, Ann‐Kristin; Lutz, Eva; Herman, Kerry; Lerner, Josh

doi:10.2139/ssrn.1120230

Cited by 3 publications

(3 citation statements)

References 2 publications

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“…A further driver is identified in the case study of New Look. Using a single case study methodology, Achleitner et al (2010b) show that the owners of New Look pursued a secondary buyout to continue the company's growth strategy. During the primary buyout, the focus was on national expansion of New Look, and the secondary buyout then afforded the opportunity to begin international growth (Achleitner et al, 2010b).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Using a single case study methodology, Achleitner et al (2010b) show that the owners of New Look pursued a secondary buyout to continue the company's growth strategy. During the primary buyout, the focus was on national expansion of New Look, and the secondary buyout then afforded the opportunity to begin international growth (Achleitner et al, 2010b). Within the New Look case study, the relevance of differing investment models and capabilities of New Look's primary and secondary private equity firms is not analyzed; hence, it is not possible to draw conclusions about specific value creation drivers in the secondary buyout.…”

Section: Literature Reviewmentioning

confidence: 99%

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Value creation drivers in a secondary buyout – the acquisition of Brenntag by BC Partners

Achleitner

Figge

Lutz

2014

Qualitative Research in Financial Markets

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Emerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services. Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Value creation drivers in a secondary buyout – the acquisition of Brenntag by BC Partners

Achleitner

Figge

Lutz

2014

Qualitative Research in Financial Markets

Self Cite

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“…See the case study of Achleitner et al () on New Look, where management pursued a secondary buyout to continue the company's growth strategy.…”

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confidence: 99%

Private Equity Lemons?Evidence on Value Creation in Secondary Buyouts

Achleitner

Figge

2012

Euro Fin Management

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This paper analyses whether secondary buyouts have a value creation profile and offer equity returns different from those of primary buyouts. Using a sample of 2,456 buyout transactions (including 448 secondary buyouts), we find no evidence that secondary buyouts generate lower equity returns or offer fundamentally lower operational value creation potential. However, we can show that secondary buyouts obtain 28–30% more leverage than primary buyouts, even after controlling for debt market conditions. Furthermore, we find evidence that secondary buyouts are 6–9% more expensive than other buyouts.

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Value for Money? Private Equity in the UK Restaurant Industry, 2006-14

Morris¹

2016

SSRN Journal

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New Look: Going Private with Private Equity Support

Cited by 3 publications

References 2 publications

Value creation drivers in a secondary buyout – the acquisition of Brenntag by BC Partners

Value creation drivers in a secondary buyout – the acquisition of Brenntag by BC Partners

Private Equity Lemons?Evidence on Value Creation in Secondary Buyouts

Value for Money? Private Equity in the UK Restaurant Industry, 2006-14

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