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All HBS Web
(470)
- People (1)
- News (43)
- Research (378)
- Events (2)
- Multimedia (1)
- Faculty Publications (257)
- November 1985 (Revised April 1990)
- Case
Signode Industries, Inc. (A)
Signode Industries' packaging division manufactures steel and plastic strapping. In 1981 the company underwent the largest leveraged buyout in U.S. corporate history. The case focuses on the packaging division's need to maintain high profitability in a declining market...
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Moriarty, Rowland T., Jr., David May, and Gordon Swartz. "Signode Industries, Inc. (A)." Harvard Business School Case 586-059, November 1985. (Revised April 1990.)
- Teaching Interest
Finance II (MBA Required Curriculum)
By: Benjamin C. Esty
This course builds on the foundation developed in Finance I, focusing on three sets of managerial decisions:
- How to evaluate complex investments.
- How to set and execute financial policies within a firm.
- How to integrate... View Details
Keywords:
Finance
- March 1999 (Revised April 1999)
- Case
AccuFlow, Inc.
By: Jay O. Light
A small hydraulic-valve manufacturer attempts a second buyout in order to take out its current equity partners. A three-way deal must be negotiated between management, the new mezzanine lender, and the departing equity owners.
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Keywords:
Negotiation Types;
Leveraged Buyouts;
Equity;
Manufacturing Industry;
Industrial Products Industry
Light, Jay O. "AccuFlow, Inc." Harvard Business School Case 299-079, March 1999. (Revised April 1999.)
- February 2004
- Case
Succession Capital Corporation
In 2003, a small buyout company in Canada was deciding which company to purchase next. This case explores the challenges facing a young entrepreneur in the process of selecting a new acquisition when financial and human resources are constrained.
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Hecht, Peter A., and Irfhan Rawji. "Succession Capital Corporation." Harvard Business School Case 204-117, February 2004.
- Research Summary
Organizational Change: The Market for Corporate Control and the Third Industrial Revolution
Michael C. Jensen is conducting research on organizational change
and the corporate control market. Specifically, he is investigating the
changing role of the corporation and competing organizational forms,
such as leveraged buyout organizations, that are replacing...
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- 2023
- Working Paper
The Market for CEOs: Evidence from Private Equity
By: Paul A. Gompers, Steven N. Kaplan and Vladimir Mukharlyamov
Most research on the CEO labor market studies public company CEOs while largely ignoring CEOs in private equity (PE) funded companies. We fill this gap by studying the market for CEOs among U.S. companies purchased by PE firms in large leveraged buyout transactions....
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Gompers, Paul A., Steven N. Kaplan, and Vladimir Mukharlyamov. "The Market for CEOs: Evidence from Private Equity." NBER Working Paper Series, No. 30899, April 2022. (Revised January 2023.)
- April 2000
- Case
Francisco Partners
By: Josh Lerner and David L. Gallo
Francisco Partners (which focuses on buyouts of high-technology firms) aims to be the largest first-time fund ever raised. The rationales for the fund, fundraising strategy, and partnership terms and conditions are among the topics explored.
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Keywords:
Private Equity;
Leveraged Buyouts;
Venture Capital;
Financial Strategy;
Partners and Partnerships;
Strategy;
Investment Funds;
Financial Services Industry
Lerner, Josh, and David L. Gallo. "Francisco Partners." Harvard Business School Case 200-063, April 2000.
- February 1991 (Revised June 1993)
- Case
Ross Perot and General Motors
By: Jay W. Lorsch
In December, 1986 the General Motors Board of Directors must decide whether to accept the buyout agreement between GM and Ross Perot, a director of GM and its largest stockholder. The agreement called for GM to purchase all of Perot's GM shares in exchange for his...
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Keywords:
Leveraged Buyouts;
Mergers and Acquisitions;
Stock Shares;
Resignation and Termination;
Business or Company Management;
Agreements and Arrangements
Lorsch, Jay W. "Ross Perot and General Motors." Harvard Business School Case 491-027, February 1991. (Revised June 1993.)
- January 1996 (Revised November 1996)
- Background Note
Note on European Buy-outs
Describes the market for European buyouts, contrasting the European market with the U.S. market where possible, and highlighting differences between European countries where appropriate. Discusses the type of businesses that undergo buyouts, the financial structure of...
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Meulbroek, Lisa K., and Joanne C. Chng. "Note on European Buy-outs." Harvard Business School Background Note 296-051, January 1996. (Revised November 1996.)
- 23 Jun 2003
- Research & Ideas
Building a Better Buyer-Seller Relationship
Buyers and sellers in mature industrial markets can turn single transactions into long-term beneficial relationships by a deeper understanding of the complex connection between the two, says Harvard Business School professor Narakesari...
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Keywords:
by Martha Lagace
- February 2006
- Case
Fraikin SA
By: W. Carl Kester, Vincent Marie Dessain and Monika Stachowiak
Provides an example of a so-called "whole business" securitization. In early 2004, Fraikin, France's leading industrial vehicle rental company, compares several alternatives for refinancing a large bridge loan within a year. Presents three primary options: a classic...
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Keywords:
Debt Securities;
Transportation;
Renting or Rental;
Transportation Industry;
Service Industry;
France
Kester, W. Carl, Vincent Marie Dessain, and Monika Stachowiak. "Fraikin SA." Harvard Business School Case 206-090, February 2006.
- October 2001 (Revised March 2003)
- Case
Exxel Group, The: March 2001
By: Josh Lerner and Alberto Ballve
The Exxel Group, a leading Latin American buyout fund, faces a challenge when deciding whether and how to exit its largest investment. The capital markets are very weak, precluding an initial public offering. Undertaking a trade sale of the firm, however, proves to be...
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Keywords:
Venture Capital;
Private Equity;
Leveraged Buyouts;
Capital Markets;
Investment Funds;
Financial Strategy;
Financial Services Industry;
Latin America
Lerner, Josh, and Alberto Ballve. "Exxel Group, The: March 2001." Harvard Business School Case 202-053, October 2001. (Revised March 2003.)
Royce G. Yudkoff
Royce Yudkoff is the MBA Class of 1975 Professor of Management Practice of Entrepreneurial Management at the Harvard Business School and a General Partner and co-founder of ABRY Partners, LLC in Boston, MA. Alongside Professor Richard Ruback, Royce currently... View Details
- October 2011 (Revised November 2011)
- Case
Verengo Solar Plus!
By: William A. Sahlman, Joseph B. Lassiter III and Liz Kind
In the three years since Bishop and Button purchased Verengo in a leveraged buyout (LBO), the company had gone through dramatic changes. Initially a residential windows and insulation firm, after the economic recession of 2008 the company switched gears and began...
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Keywords:
Venture Capital;
Private Equity;
Growth Management;
Restructuring;
Renewable Energy;
Corporate Entrepreneurship;
Corporate Finance;
Product Development;
Energy Industry;
California
Sahlman, William A., Joseph B. Lassiter III, and Liz Kind. "Verengo Solar Plus!" Harvard Business School Case 812-049, October 2011. (Revised November 2011.)
- 12 Feb 2018
- Working Paper Summaries
Private Equity, Jobs, and Productivity: Reply to Ayash and Rastad
- February 1997 (Revised October 2002)
- Case
The Exxel Group: September 1995
By: Josh Lerner, Alex Hoye and Gonzalo Pacanins
The Exxel Group, a private equity group based in Buenos Aires, is considering a buyout of Argencard, Mastercard's exclusive licensee in Argentina. To complete the deal, however, it will need to raise additional financing from U.S. investors. Both the valuation and the...
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Keywords:
Leveraged Buyouts;
Developing Countries and Economies;
Private Equity;
Financing and Loans;
Investment;
Negotiation Deal;
Problems and Challenges;
Valuation;
United States;
Buenos Aires
Lerner, Josh, Alex Hoye, and Gonzalo Pacanins. "The Exxel Group: September 1995." Harvard Business School Case 297-068, February 1997. (Revised October 2002.)
- December 1998 (Revised January 2004)
- Case
Singulus
By: Walter Kuemmerle and Chad S Ellis
Describes Singulus, the compact disk metallizer business of Leybold AG, a large German company, which has been put up for sale. In April 1995, buyout firm Schroder Ventures has to decide whether to acquire the business. The investment decision is complicated by a...
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Kuemmerle, Walter, and Chad S Ellis. "Singulus." Harvard Business School Case 899-074, December 1998. (Revised January 2004.)
- September 2013 (Revised January 2016)
- Case
The Abraaj Group and the Acibadem Healthcare Investment (A)
By: Paul A. Gompers, Bora Uluduz and Firdevs Abacioglu
This case concerns the proposed buyout of Acibadem, a leading hospital chain in Turkey. Abraaj, a MENA region private equity firm, proposes to make its first investment in Turkey. The case highlights the role of Turkish health care reform in driving the value. The...
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Gompers, Paul A., Bora Uluduz, and Firdevs Abacioglu. "The Abraaj Group and the Acibadem Healthcare Investment (A)." Harvard Business School Case 214-021, September 2013. (Revised January 2016.)
- June 1995
- Case
Quorum Health Group, Inc.
By: William A. Sahlman and Jason Green
Facing increasing competition from much larger industry players, Jim Dalton, CEO of Quorum, and Russ Carson, Managing Partner of Welch, Carson, Anderson & Stowe attempt to set the future direction for Quorum. The company was successfully spun-off from HCA in a...
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Keywords:
Growth and Development Strategy;
Competitive Strategy;
Consolidation;
Leveraged Buyouts;
Venture Capital;
Acquisition;
Health Industry
Sahlman, William A., and Jason Green. "Quorum Health Group, Inc." Harvard Business School Case 295-156, June 1995.
- November 2020
- Article
Disrupting the Disruptors or Enhancing Them? How Blockchain Re‐Shapes Two‐Sided Platforms
By: Daniel Trabucchi, Antonella Moretto, Tommaso Buganza and Alan MacCormack
The importance of platform‐based businesses in the modern economy is growing continuously and becoming increasingly relevant. Specifically, the deployment of digital technologies has enhanced the applicability of two‐sided business models, enabling companies to act not...
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Keywords:
Blockchain;
Two-Sided Platforms;
Business Model;
Innovation and Invention;
Technological Innovation
Trabucchi, Daniel, Antonella Moretto, Tommaso Buganza, and Alan MacCormack. "Disrupting the Disruptors or Enhancing Them? How Blockchain Re‐Shapes Two‐Sided Platforms." Journal of Product Innovation Management 37, no. 6 (November 2020): 552–574.