SOURCE: Forum for Corporate Directors

Forum for Corporate Directors

January 07, 2011 00:51 ET

The Forum for Corporate Directors to Present Program Focused on Recent High-Profile Management Buyouts of Several Major Southern California Companies

A Panel Featuring Participants in the MBOs Will Provide Their Insights Into the Issues Critical to the Success of Each Transaction

NEWPORT BEACH, CA--(Marketwire - January 7, 2011) - The Forum for Corporate Directors (FCD) is hosting on Wednesday, Jan. 26, 2011, a panel of participants in three recent high-profile management buyout transactions. The panel will discuss the various economic, structuring and market issues related to buyouts from the viewpoint of management and their private equity sponsors. These experts will focus on what they believe to be the most important issues in pursuing and successfully closing a management buyout.

"We believe that this topic is particularly timely and that the program will provide a forum for directors, executive officers, capital and finance professionals and those who support these transactions to engage in a discussion of the key issues," said John Della Grotta, a partner at Paul, Hastings, Janofsky & Walker, LLP, and the chair of FCD.

The discussion will focus on the following three recent management buyouts in Orange County:

  • The Acquisition of Linc Group by ABM Industries -- GI Partners teamed with management to acquire Orange County-based Linc Group from the Enron bankruptcy process in 2003. During GI Partners' ownership of Linc, annual revenues and EBITDA increased by 3.3x and 7.6x, respectively. Linc was acquired by ABM Industries in December 2010 and generated a 4.4x return on invested capital.

  • The Acquisition of Bristol Farms from SUPERVALU -- Endeavour Capital teamed with management to purchase Bristol Farms, based in Carson, CA, from SUPERVALU in October 2010.

  • The Acquisition of SDC Technologies from Dow Corning Corporation and the Subsequent Sale of SDC Technologies to Mitsui Chemical of America -- Management and its private equity sponsor, the Compass Group, led the purchase of Orange County-based SDC Technologies from Dow Corning Corporation and Pilkington plc. The subsequent sale of SDC by management and the Compass Group to Mitsui Chemical of America generated a 10x return on invested capital.

The program will be held from 7:30-9:00 a.m. on Wednesday, Jan. 26, 2011, at the Hyatt Regency Irvine, 17900 Jamboree Road in Irvine, California. Registration will begin at 7:00 a.m. with a buffet breakfast available until the program begins. Serving as the moderator for the panel is Bill Simpson, chair of the Global Private Equity Practice at Paul Hastings. The panelists include:

  • Bill Gregg -- President & CEO of SDC Technologies, Inc.

  • Leland James -- Managing Director, Endeavour Capital

  • Elias Sabo -- Partner, Compass Group Management LLC

  • Hoon Cho -- Managing Director, GI Partners.

Registration for the breakfast and panel discussion may be made online at www.fcdoc.org.

About the Forum for Corporate Directors

Founded in 1991, FCD is a non-profit business organization committed to promoting the highest standards of corporate governance and to increasing the effectiveness of directors, CEOs and senior level executives by anticipating important issues facing companies in today's global economy and presenting peer-to-peer forums to share ideas and key strategies. FCD members include many of Southern California's top business and corporate leaders. Corporate members include Abbott Medical Optics; Alacer Corp.; American Vanguard Corporation; California State University Fullerton Mihaylo College of Business & Economics; Conexant Systems, Inc; DDi Corp.; Emulex Corporation; George L. Argyros School of Business & Economics at Chapman University; Local.com; MFLEX; Microsemi Corporation; Mindspeed Technologies, Inc.; National Technical Systems; Newport Corporation; Powerwave Technologies; QLogic Corporation; Quality Systems Inc.; RealtyTrac, Inc.; SRS Labs, Inc.; and The Paul Merage School of Business at UC Irvine.

The mission of FCD is generously supported by its Sponsors: Leadership Sponsors: RiechesBaird and Stradling, Yocca, Carlson and Rauth*; Legacy Sponsors: Grant Thornton LLP, KPMG LLP, Microsemi Corporation, and PricewaterhouseCoopers LLP; Heritage Sponsors: Deloitte, Ernst & Young LLP*, Latham & Watkins, PaulHastings and Union Bank; Sustaining Sponsors: Abbott Medical Optics Inc., Haskell & White LLP, IR Strategies, The Paul Merage School of Business at UC Irvine, and McGladrey, Inc; Supporting Sponsors: Allergan, Inc., BDO USA, LLP, Dorsey & Whitney LLP, Duff & Phelps, LLC, Emulex Corporation, Gibson, Dunn & Crutcher LLP, Houlihan Lokey, Lockton Insurance Brokers, LLC, Marketwire, The Orange County Register, and Woodruff-Sawyer & Co.

*Founding Sponsor

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