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management buy-out

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asset engineering

asset engineering  

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Any of a range of restructuring activities by firms which reduce the asset base. See bifurcation; divestment; leasing; management buy-out.
asset sales

asset sales  

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1 Disposals of assets or business units made by a company. These can take the form of trade sales, to another company, or a management buy-out. Also known as a ‘disposal’.[...]
BIMBO

BIMBO  

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Abbreviation for buy-in management buy-out: a form of management buy-out in which management invests in the venture together with outsider venture capitalists (such as a private equity firm), who ...
bootstrapping operations

bootstrapping operations  

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(USA).Another and early name for management buy-outs.
bought deal

bought deal  

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1 A method of raising capital for acquisitions or other purposes, used by listed companies as an alternative to a rights issue or placing. The company invites market makers or banks to bid for new ...
buy-in and management buy-out

buy-in and management buy-out  

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(BIMBO).A method of purchasing a business involving both the existing management and outside managers. The latter are often chosen by the group of financiers funding the deal. See management buy-out; ...
buy-out

buy-out  

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The act of taking a company private. The current shareholders are made an offer, i.e. they are bought out by the new owners or management. See leveraged buy-out; management buy-out.[...]
corporate venturing

corporate venturing  

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The provision of risk capital by one company, either directly or by means of a venture-capital fund, for another company. This may be undertaken as a means of obtaining information about the company ...
going private

going private  

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To de-list a company, normally as the result of its being purchased (cf. leveraged buy-out; management buy-out).
junk bond

junk bond  

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Bonds issued on very doubtful security. The finances of the firm issuing them are regarded as so insecure that there is serious doubt as to whether the interest and redemption payments promised will ...
management buy-out

management buy-out   Reference library

The Handbook of International Financial Terms

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Subject Reference
Current Version:
2005

The purchase of a business by part or all of its existing management with the help of a group of

management buy-in

management buy-in  

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The acquisition of a company by an outside team of managers, usually specially formed for the purpose, often backed by a venture-capital organization. In the past a typical target might have been a ...
mezzanine finance

mezzanine finance  

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1 Finance, usually provided by specialist financial institutions, that is neither pure equity nor pure debt. It can take many different forms and can be secured or unsecured; it usually earns a ...
private equity firm

private equity firm  

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An investment firm that seeks to make high returns by (i) obtaining a controlling interest in a target company (if this is a public company it is then taken private); (ii) subjecting it to radical ...
ratchet

ratchet  

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An incentive device used in venture capital and management buy-outs to allow managers to gain a larger share of the equity based on the performance of the firm. See also agency theory.[...]
risk capital

risk capital  

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Funds provided for uncertain investments, typically venture capital or risk arbitrage activities usually in the form of equity or equity-equivalents. Such capital is designed to earn a commensurate ...
spin-off

spin-off  

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The hiving-off of a business or assets of a company either for tax purposes or because it is underperforming or no longer strategic to the business (cf. master limited partnership ...
stub

stub  

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The residual equity left from a major re-capitalization of a firm's balance sheet (cf. leveraged buy-out; management buy-out; vendor finance). Sometimes used to describe the shares left in the market ...
vendor finance

vendor finance  

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Funds provided by the seller in a disposal of a business by deferring payment. Typically such vendor finance may form part of the financing of a management buy-out (cf. management ...
venture capital

venture capital  

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Capital whose owners are willing to invest in new or small businesses, where the risk of losing it is high. Venture capital is necessary if people without sufficient capital of their own are to be ...

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