When The Heck Did This Happen?

[Parsad]

Does anyone remember this occurring?  Apparently Berkshire has a stake in Party City...from 2004!  Don't remember hearing anything about it.  Cheers!

 

http://www.marketwatch.com/story/thomas-lee-buys-majority-stake-in-party-city-2012-06-05?siteid=yhoof2

[zarley]

I'm pretty sure that the referenced Berkshire Partners is not affiliated with Berkshire Hathaway.

 

It's a LBO shop.  http://www.berkshirepartners.com/

[Parsad]

That's what I was thinking, but the article is linking Berkshire to Berkshire Partners.  Cheers!

[zarley]

Sloppy reporting. 

 

http://en.wikipedia.org/wiki/Berkshire_Partners

 

Berkshire Partners was founded by Bradley M. Bloom, J. Christopher Clifford, Carl Ferenbach, Richard K. Lubin and Russell L. Epker in 1984. The firm traces its roots back to Boston's Thomas H. Lee Partners, a large-cap private equity firm founded a decade earlier. Since its founding in 1984, Berkshire has raised eight private equity funds with total investor commitments of $11.0 billion since inception.

 

http://www.hoovers.com/company/Berkshire_Partners_LLC/rfxkxxi-1-1njg4g.html

 

No, not that Berkshire -- the other one. Berkshire Partners is a private equity firm that targets established North American and European companies worth $200 million to $2 billion. It targets varied industries, including industrial manufacturing, consumer products, transportation, communications, business services, energy, and retailing. An active investor, the company usually puts up between $50 million to $500 million per transaction in leveraged buyouts, recapitalizations, privatizations, growth capital investments, and special situations. Its Stockbridge affiliate invests in marketable securities to compliment Berkshire Partners' core private equity activities.

[Parsad]

Thanks Zarley!  Cheers!