Business capital – Angil http://angil.org/ Sun, 17 Oct 2021 21:31:55 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://angil.org/wp-content/uploads/2021/06/icon-2021-06-29T195041.460-150x150.png Business capital – Angil http://angil.org/ 32 32 Liberalization of the capital account | Editorials on Trade Standards https://angil.org/liberalization-of-the-capital-account-editorials-on-trade-standards/ https://angil.org/liberalization-of-the-capital-account-editorials-on-trade-standards/#respond Sun, 17 Oct 2021 18:49:00 +0000 https://angil.org/liberalization-of-the-capital-account-editorials-on-trade-standards/ Reserve Bank of India (RBI) Governor Shaktikanta Das noted in a speech last year that capital account convertibility would continue to be approached as a process, not an event. India has gradually liberalized its capital account and greater openness would depend on a combination of factors. Deputy Governor T Rabi Sankar, in a speech last […]]]>

Reserve Bank of India (RBI) Governor Shaktikanta Das noted in a speech last year that capital account convertibility would continue to be approached as a process, not an event. India has gradually liberalized its capital account and greater openness would depend on a combination of factors.

Deputy Governor T Rabi Sankar, in a speech last week, touched on various issues in this context. India took a big step towards capital account liberalization last year with the introduction of the fully accessible route (FAR) for government securities. This essentially …

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First published: Mon October 18, 2021 00:19 IST


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Macy’s (NYSE: M) returns on capital do not reflect the company well https://angil.org/macys-nyse-m-returns-on-capital-do-not-reflect-the-company-well/ https://angil.org/macys-nyse-m-returns-on-capital-do-not-reflect-the-company-well/#respond Sat, 16 Oct 2021 15:00:24 +0000 https://angil.org/macys-nyse-m-returns-on-capital-do-not-reflect-the-company-well/ When it comes to investing, there are some useful financial indicators that can alert us when a business is potentially in trouble. Declining businesses often have two underlying trends, on the one hand, a decline to recover on capital employed (ROCE) and a decrease based capital employed. This indicates that the company is making less […]]]>

When it comes to investing, there are some useful financial indicators that can alert us when a business is potentially in trouble. Declining businesses often have two underlying trends, on the one hand, a decline to recover on capital employed (ROCE) and a decrease based capital employed. This indicates that the company is making less profit from its investments and that its total assets are decreasing. On that note, examining Macy’s (NYSE: M), we weren’t too optimistic about the way things were going.

Return on capital employed (ROCE): what is it?

Just to clarify if you’re not sure, ROCE is a measure of the pre-tax income (as a percentage) that a business earns on the capital invested in its business. The formula for this calculation on Macy’s is:

Return on capital employed = Profit before interest and taxes (EBIT) ÷ (Total assets – Current liabilities)

0.11 = US $ 1.3 billion ÷ (US $ 18 billion – US $ 6.7 billion) (Based on the last twelve months up to July 2021).

Therefore, Macy’s has a ROCE of 11%. That’s a relatively normal return on capital, and it’s around the 13% generated by the multi-line retail industry.

Check out our latest analysis for Macy’s

NYSE: M Return on capital employed October 16, 2021

In the graph above, we’ve measured Macy’s past ROCE versus past performance, but arguably the future is more important. If you’d like to see what analysts are forecasting for the future, you should check out our free report for Macy’s.

The ROCE trend

In terms of Macy’s historic ROCE moves, the trend does not inspire confidence. To be more precise, the ROCE was 15% five years ago, but since then it has fallen noticeably. During this time, the capital employed in the company remained roughly stable over the period. As returns decline and the company has the same number of assets employed, this may suggest that it is a mature company that has not seen much growth in the past five years. So, because these trends are generally not conducive to building a multi-bagger, we won’t hold our breath that Macy’s becomes one if things continue the way they did.

The key to take away

Ultimately, the downward trend in returns on the same amount of capital is generally not an indication that we are considering a growth stock. So it’s no surprise that the stock has fallen 16% over the past five years, so it looks like investors are recognizing these changes. With underlying trends not being great in these areas, we would consider looking elsewhere.

Macy’s has risks, we noticed 5 warning signs (and 1 which is significant) we think you should be aware of.

While Macy’s doesn’t get the highest return, check out this free list of companies that generate high returns on equity with strong balance sheets.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in any of the stocks mentioned.

Do you have any feedback on this item? Are you worried about the content? Get in touch with us directly. You can also send an email to the editorial team (at) simplywallst.com.


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Ortelius Announces Glass Lewis Recommend Capital Senior Living Shareholders Vote AGAINST Costly, Dilutive and Poorly Structured Conversant Capital Agreement https://angil.org/ortelius-announces-glass-lewis-recommend-capital-senior-living-shareholders-vote-against-costly-dilutive-and-poorly-structured-conversant-capital-agreement/ https://angil.org/ortelius-announces-glass-lewis-recommend-capital-senior-living-shareholders-vote-against-costly-dilutive-and-poorly-structured-conversant-capital-agreement/#respond Thu, 14 Oct 2021 21:25:00 +0000 https://angil.org/ortelius-announces-glass-lewis-recommend-capital-senior-living-shareholders-vote-against-costly-dilutive-and-poorly-structured-conversant-capital-agreement/ Highlights A Leading Independent Proxy Consulting Firm Highlights Many Governance, Financial And Process Flaws Associated With Onerous Modified Transactions Notes Glass Lewis acknowledged that “sufficient capital is probably available from other sources on superior terms” Reiterates that Ortelius has committed to immediately inject $ 30 million of capital without contingency through a rights offer, while […]]]>

Highlights A Leading Independent Proxy Consulting Firm Highlights Many Governance, Financial And Process Flaws Associated With Onerous Modified Transactions

Notes Glass Lewis acknowledged that “sufficient capital is probably available from other sources on superior terms”

Reiterates that Ortelius has committed to immediately inject $ 30 million of capital without contingency through a rights offer, while noting that Invictus has committed to immediately inject $ 25 million of capital without contingency as part of the its seemingly superior $ 150 million alternative solution

Urges shareholders to protect their investment from unfair and unnecessary dilution by voting VERSUS operations modified on October 22sd Special meeting

NEW YORK, October 14, 2021– (BUSINESS WIRE) – Ortelius Advisors, LP (together with its affiliates, “Ortelius” or “we”), which owns approximately 12.7% of the outstanding common shares of Capital Senior Living Corporation (NYSE: CSU) ( “Capital Senior Living” or the “Company”), today announced that Glass, Lewis & Co. (“Glass Lewis”) recommends that shareholders of the Company vote VERSUS all management proposals at the next general meeting of shareholders (the “Special Meeting”) on October 22, 2021, including costly, dilutive and poorly structured modified financing transactions (the “Modified Transactions”) with Conversant Capital (and its affiliates, “Conversé”). Please note that voting against the amended transactions will allow the board of directors of Capital Senior Living (the “Board”) to finally seek readily available financing alternatives championed by major shareholders, such as Ortelius and Invictus Global Management LLC ( with its affiliates, “Invictus”). Please visit www.SaveCSU.com for all documents and presentations relating to Ortelius’ advocacy on behalf of other shareholders.

In his report, Glass Lewis notes:1

  • “Overall, given the improved operational performance and current financial condition of CSU […] we are less inclined to believe that shareholder support for such a significant and significantly dilutive change of control financing transaction is justified at the present time. “

  • “We take an even darker view of the proposed transaction when we consider the litany of unfavorable conditions for existing CSU shareholders, the incentives provided to the management of Conversant, Silk, Arbiter and CSU, and the language and tactics used by the board of directors in an apparent attempt to coerce shareholders into agreeing what we see as a bad deal objectively for existing investors. “

  • “[…] we note that the proposed transaction has been approved by a board and a transaction committee composed mainly of directors who have been with the company for at least five years, a period during which the Company’s investors suffered significant destruction of value. “

  • “[…] we are reluctant to show deference to directors when it comes to assessing the financial condition of the Company, its review of potential value enhancement / preservation alternatives, or the assessment and recommendation of such an important and transformative financing transaction which effectively amounts to a change of control of the Company at a takeover price. “

  • “[…] rather than appealing to the Company’s major shareholders simply on the merits of the amended terms of the agreement, it appears that the support and participation of Silk and Arbiter was effectively bought by the allocation of unnecessary costs and undue representation on the CSU board of directors, in our vision. “

  • “All in all, weighing the foregoing considerations and the salient points raised by each of the CSU and Ortelius Board members in their respective documents […] and our belief that sufficient capital is probably available from other sources on superior terms, we believe CSU shareholders are best served by voting to reject the proposed transaction. “

  • “According to U.S, voting against the transaction with Conversant is unlikely to send the Company down the path to insolvency, but will instead express shareholder dissatisfaction with an unfavorable financing transaction and express the wish that the board of directors secure the capital the Company needs on less dilutive and less flagrant conditions. “

Peter DeSorcy, Managing Member of Ortelius, commented:

“We are very pleased that Glass Lewis is recommending that shareholders of Capital Senior Living vote against expensive, dilutive and ill-structured modified transactions, which would unnecessarily seize significant value from the vast majority of existing shareholders and give de facto control of the company. to Conversant and Silk Partners following a privately negotiated agreement. The report released by Glass Lewis echoes many of our concerns about the board’s failure to effectively assess the company’s financing needs and subsequently execute a viable process to seek the right amount of capital to Reasonable and Fair Terms It is also encouraging that Glass Lewis brought to light the improper manner in which Conversant and the management of the company intersected the amended transactions and effectively bought the backing of Silk Partners and Arbiter Partners, to the detriment of the other shareholders . , we hope that the shareholders we defend take note of the fact that Glass Lewis recognizes that alternative capital is available from other sources – now – on better terms.

As a reminder, Ortelius and other shareholders, such as Invictus, have publicly committed to rapidly providing affordable, contingent and potentially non-dilutive capital to meet the Company’s liquidity needs. If taken together, the Ortelius and Invictus proposals would provide an immediate injection of $ 55 million, and Invictus’ terms include a subsequent $ 75 million in the form of a secured rights offer for a convertible instrument that could mitigate dilution for participants and minimize leverage over time. In our opinion, the public commitments of Ortelius and Invictus represent the highest possible level of certainty as investors do not have the capacity to negotiate with the Company until the Amended Transactions have been voted on. “

About Ortelius Advisors, LP

Ortelius is a research-intensive, fundamentals-driven, activist-driven alternative investment management firm focused on event opportunities. Founded in 2015 by Peter DeSorcy and HRH Prince Pavlos, the asset manager is based in New York.

1 Permission to quote neither requested nor received. Emphasis added by Ortelius.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211014006121/en/

Contacts

Shareholders:

Okapi Partners
Mark Harnett, 646-556-9350
mharnett@okapipartners.com

Media:

MKA
Greg Marose / Charlotte Kiaie, 646-386-0091
gmarose@mkacomms.com / ckiaie@mkacomms.com


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DC-backed capital funding program mystifies black business leaders https://angil.org/dc-backed-capital-funding-program-mystifies-black-business-leaders/ https://angil.org/dc-backed-capital-funding-program-mystifies-black-business-leaders/#respond Thu, 14 Oct 2021 02:36:30 +0000 https://angil.org/dc-backed-capital-funding-program-mystifies-black-business-leaders/ The District Insurance, Securities and Banking Department’s program to bring more capital to black businesses is strong, but black business leaders say they know little about it. DISB Commissioner Karima M. Woods recently told the informant about the DC BizCAP program. While many entrepreneurs look to DC’s Department of Small Business and Local Business Development […]]]>

The District Insurance, Securities and Banking Department’s program to bring more capital to black businesses is strong, but black business leaders say they know little about it.

DISB Commissioner Karima M. Woods recently told the informant about the DC BizCAP program.

While many entrepreneurs look to DC’s Department of Small Business and Local Business Development (DSLBD) for capital issues, Woods wants them to know that the DISB can help them too.

Woods explains DC BizCAP

Woods said DC BizCAP received its funding through the US Department of the Treasury as part of the state’s Small Business Credit Initiative, founded under the Small Business Employment Laws of 2010. .

“Through this law, the DISB received $ 13 million in funding to create this program,” said Woods. “To administer the funds, the DISB partners with private lenders to provide loan enhancements to small businesses that need additional support in obtaining loans from private lending institutions.”

Woods said that in fiscal 2021, DC BizCAP provided $ 1,355,000 to support five small businesses.

Woods knows that minority companies have problems accessing capital from traditional lenders such as banks. She said the Loan Participation Program (LPP) “is fully inclusive and offers subsidized interest rates to minority-owned businesses, certified businesses and women.”

“With this grant, the DISB is able to halve the interest rate charged by the lender,” she said.

A Jan. 22, 2018 article posted on the Forbes magazine website, “Why Minorities Have Such Difficulty Accessing Small Business Loans,” stated that minorities generally have lower equity and / or lack of equity. ‘access. The article indicates that banks have traditionally been against applicants with less money to spend, in part because applicants are unlikely to be able to offer collateral.

Woods stated that DC BizCAP does not have a warranty requirement.

“Keep in mind, however, that the support offered through DC BizCAP is not a direct loan,” she said. “DISB is partnering with local lenders to improve lending. Therefore, although the ministry does not require collateral, in many cases the lender can.

Woods said a business does not need to be in business for a certain number of years to be eligible for the program.

Essentially, said Woods, DC BizCAP was designed to help entrepreneurs secure new sources of capital in conjunction with traditional lenders such as banks.

“Under the rules and regulations of the program, small business borrowers can use funding from DC BizCAP to provide the additional support needed to obtain approvals from commercial lenders,” she said. “We offer guarantees, participate in loan applications and in some cases can co-invest to provide access to capital to small businesses in need of financial support. “

Puzzled black business leaders

While Woods praises his agenda, the details of DC BizCAP remain obscure to many blacks who are in business.

The informant contacted Kimberly Corbin, administrative and financial director of the Greater Washington Urban League. Corbin said she did not have enough knowledge of the program to comment. Amanda Stephenson, who owns The Fresh Food Factory in Ward 8 and has a reputation as a pro-black small business activist, said she hadn’t heard of DC BizCAP either.

However, Alfred Swailes, owner of A&A Premium Paint Distributor, LLC in northeast Washington and head of the DC Black Business Task Force, said he was familiar with the program.

“I tried to get funding through DC BizCAP by working through the Latino Economic Development Center,” Swailes said. “I found the process to be cumbersome and that it involved a lot of work and time. My request was not fully processed.

Swaies said it comes as no surprise to him that few people know about the program.

“It was not well publicized,” he said. “When black businessmen want information about sources of capital they can get with the help of the DC government, they look to DSLBD, not DISB.”

Photo by James Wright



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New CEO of Global Jet Capital optimistic about recovery https://angil.org/new-ceo-of-global-jet-capital-optimistic-about-recovery/ https://angil.org/new-ceo-of-global-jet-capital-optimistic-about-recovery/#respond Tue, 12 Oct 2021 20:39:22 +0000 https://angil.org/new-ceo-of-global-jet-capital-optimistic-about-recovery/ After a year of strengthening its capitalization, business aviation financier Global Jet Capital (GJC) is encouraged by the “long track” of demand it envisions as the pandemic begins to fade and markets are starting to reopen, recently appointed CEO Vivek Kaushal said. Previously COO, he held the position previously held by Shawn Vick, who is […]]]>

After a year of strengthening its capitalization, business aviation financier Global Jet Capital (GJC) is encouraged by the “long track” of demand it envisions as the pandemic begins to fade and markets are starting to reopen, recently appointed CEO Vivek Kaushal said.

Previously COO, he held the position previously held by Shawn Vick, who is now Executive Chairman. Kaushal, who joined GJC in 2015 with the acquisition of GE Capital’s business aircraft portfolio, takes on the new leadership role as the company prepares to relaunch business. “We think there is a ton of pent-up demand,” he said. “We are seeing a lot of growth ahead of us.”

GJC (Stand 733, SD A507) was founded in 2014 by a group of seasoned senior business aviation executives and has grown significantly with the acquisition of the GE portfolio. In 2019, before the pandemic hit, it had one of its strongest years with a business aircraft portfolio of more than $ 2.6 billion. Also that year, the company expanded its international reach with the addition of full offices in Zurich and Hong Kong which joined existing facilities in Danbury, Connecticut; Boca Raton, Florida; and Mexico City. This allowed GJC to place its executives in key time zones and in the regions where its customers were based, Kaushal said.

All of this prepared the company as the pandemic struck. Like many businesses, GJC first responded to Covid by taking care of its employees and having them set up home offices. Then he focused on the customers; Kaushal noted that “we told them we would be there for every delivery. And we were.

As the pandemic has slowed new business for the market, it has also tempered GJC’s growth. Its portfolio is still close to where it was in 2019, but Kaushal believes that had Covid not touched, the company would have been on track for further growth of 10-20%.

However, despite the turmoil in the market, GJC has seen little delinquency among its customers and no defaults, he said. Working in partnership with clients has been a “great experience and a great differentiator,” said Kaushal, adding that “people really appreciated the performance of our portfolio.”

GJC closed on an asset-backed securitization (ABDOS) in November 2020 which raised approximately $ 522 million, bringing its securitized assets to over $ 2.8 billion and bonds issued to over $ 2.3 billion. GJC followed that up with another ABS offering that raised around $ 663 million, bringing its total securitized assets to over $ 3.6 billion and bonds issued to over $ 2.9 billion.

“We were the very first aeronautical securitization to return to the market [since the onset of the pandemic], and we reopened the market for aviation-related assets, ”Kaushal said, noting that in both issues, the GJC bonds put on the market were oversubscribed.

Investors have started to see the value of business aviation through the pandemic, including its efficiency, safety and security, he added. Plus, they saw the strength of GJC’s customer base. “They have the ability to withstand very difficult times and that has been proven in spades,” he said.

Going forward, Kaushal added, “I really believe the pandemic is going to be part of everyone’s playbook,” and that will benefit business aviation. The industry is already in high demand, although some countries are just starting to open up and others have yet to reopen. “The trends are accelerating in this market,” he said, noting that GJC has prepared for it with the teams it has put in place and the financial support it has put in place.

Kaushal noted that large-scale business aviation providers are growing, but “they’ll need capital to grow and we’ll be there.”

Additionally, newer additions to the market are also turning to rental options that give them more flexibility without the long-term commitment or worries about valuing long-term assets that may arise from ownership, a he declared.

“Our business is to provide access to business aviation,” he said, highlighting what he sees as a great opportunity for GJC. “This is a $ 30 billion a year deal market.”

Kaushal also thinks it is not a temporary bubble, saying: “We are in a very rational market”. OEMs are measured in their response to demand, he added. And while values ​​have risen, only a few sales have involved “eye-catching” numbers. Most are reasonable, he said, and mark a correction brought about by years of softening.

Back at NBAA, GJC can’t wait to reconnect with the market in a live show. “We want to strengthen our commitment to business aviation and show our confidence in the industry,” he said, adding, “We have the capital and a full product line. “


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Arthur J. Gallagher & Co. acquires River Valley Capital Insurance, Inc. | Illinois https://angil.org/arthur-j-gallagher-co-acquires-river-valley-capital-insurance-inc-illinois/ https://angil.org/arthur-j-gallagher-co-acquires-river-valley-capital-insurance-inc-illinois/#respond Mon, 11 Oct 2021 15:01:44 +0000 https://angil.org/arthur-j-gallagher-co-acquires-river-valley-capital-insurance-inc-illinois/ ROLLING MEADOWS, Ill., Oct. 11, 2021 / PRNewswire / – Arthur J. Gallagher & Co. today announced the acquisition of Dubuque, Iowa, River Valley Capital Insurance, Inc. (RVCI). Terms of the transaction were not disclosed. Founded in 2007, RVCI is a retail / accident real estate brokerage firm that specializes in providing insurance coverage for […]]]>

ROLLING MEADOWS, Ill., Oct. 11, 2021 / PRNewswire / – Arthur J. Gallagher & Co. today announced the acquisition of Dubuque, Iowa, River Valley Capital Insurance, Inc. (RVCI). Terms of the transaction were not disclosed.

Founded in 2007, RVCI is a retail / accident real estate brokerage firm that specializes in providing insurance coverage for the trucking industry, with a focus on long haul trucking companies in the Midwest region. . The team will remain in its current location under the leadership of Ryan Isaacs, responsible for the Gallagher Midwestern region retail / accident brokerage operations.

“River Valley Capital Insurance is a highly regarded, growing company with deep expertise in the long-haul trucking market that will expand our transportation practice in the Midwest,” said J. Patrick Gallagher, Jr., Chairman of the Board. , President and CEO. “I am very happy to welcome the team to Gallagher.”

Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and advisory services firm, is headquartered in Rolling Meadows, Illinois. The company is present in 57 countries and offers customer service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

View original content to download multimedia: https://www.prnewswire.com/news-releases/arthur-j-gallagher–co-acquires-river-valley-capital-insurance-inc-301396607.html

SOURCE Arthur J. Gallagher & Co.

Copyright © 2021 PR Newswire Association LLC. All rights reserved.


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Some investors may be concerned about RATIONAL’s return on capital (ETR: RAA) https://angil.org/some-investors-may-be-concerned-about-rationals-return-on-capital-etr-raa/ https://angil.org/some-investors-may-be-concerned-about-rationals-return-on-capital-etr-raa/#respond Sun, 10 Oct 2021 07:33:14 +0000 https://angil.org/some-investors-may-be-concerned-about-rationals-return-on-capital-etr-raa/ If we are to find multi-bagger potential, there are often underlying trends that can provide clues. First, we would like to identify a growth to recover on capital employed (ROCE) and at the same time, a based capital employed. This shows us that it is a composing machine, capable of continually reinvesting its profits in […]]]>

If we are to find multi-bagger potential, there are often underlying trends that can provide clues. First, we would like to identify a growth to recover on capital employed (ROCE) and at the same time, a based capital employed. This shows us that it is a composing machine, capable of continually reinvesting its profits in the business and generating higher returns. To concern RATIONAL (ETR: RAA) he has a high ROCE right now, but let’s see how the returns move.

Understanding Return on Capital Employed (ROCE)

For those who don’t know what ROCE is, it measures the amount of pre-tax profit a business can generate from the capital employed in its business. To calculate this metric for RATIONAL, here is the formula:

Return on capital employed = Profit before interest and taxes (EBIT) ÷ (Total assets – Current liabilities)

0.29 = € 167m ÷ (€ 710m – € 132m) (Based on the last twelve months up to June 2021).

So, RATIONAL has a ROCE of 29%. In absolute terms, this is a great return and it’s even better than the machinery industry average of 8.3%.

See our latest analysis for RATIONAL

XTRA: RAA Return on Capital Employee October 10, 2021

In the graph above, we measured RATIONAL’s past ROCE against its past performance, but the future is arguably more important. If you’d like to see what analysts are forecasting for the future, you should check out our free report for RATIONAL.

What can we say about RATIONAL’s ROCE trend?

On the surface, the ROCE trend at RATIONAL does not inspire confidence. While it’s comforting that ROCE is high, it was 46% five years ago. On the flip side, the company has employed more capital with no corresponding improvement in sales over the past year, which might suggest that these investments are longer-term games. It may take some time for the business to begin to see a change in the benefits of these investments.

The basics on RATIONAL’s ROCE

To conclude, we have seen that RATIONAL is reinvesting in the business, but the returns are declining. Although the market should expect these trends to improve as the stock has gained 78% over the past five years. Ultimately, if the underlying trends persist, we won’t be holding our breath that this is multi-bagging in the future.

One more thing, we spotted 1 warning sign facing RATIONAL that you might find interesting.

RATIONAL is not the only security to generate high returns. If you want to see more, check out our free List of companies delivering high returns on equity with strong fundamentals.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in any of the stocks mentioned.

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Former RedBird Capital Partner Launches Braemont Capital, New “Relationship-Driven” Investment Firm ”Dallas innovates https://angil.org/former-redbird-capital-partner-launches-braemont-capital-new-relationship-driven-investment-firm-dallas-innovates/ https://angil.org/former-redbird-capital-partner-launches-braemont-capital-new-relationship-driven-investment-firm-dallas-innovates/#respond Fri, 08 Oct 2021 23:06:19 +0000 https://angil.org/former-redbird-capital-partner-launches-braemont-capital-new-relationship-driven-investment-firm-dallas-innovates/ Robert Covington, Founder and Managing Partner, Braemont Capital [Photo: Braemont] A new investment firm has been launched with offices in Dallas and New York, and relationships will be a key driver of its growth investment strategy. Robert covington, former partner of RedBird Capital Partners, today announced the launch of Braemont Capital. The relationship-based company is […]]]>

A new investment firm has been launched with offices in Dallas and New York, and relationships will be a key driver of its growth investment strategy. Robert covington, former partner of RedBird Capital Partners, today announced the launch of Braemont Capital.

The relationship-based company is launched with a team of “eight seasoned professionals” and will focus on defensive growth niches in corporate and consumer end markets, typically investing $ 25 million to $ 200 million of equity in companies. controlling or minority positions.

The company’s growth capital investments will be made in partnership with founders, families and entrepreneurs, according to the new company.

In a statement, Covington said that “the experience and collective relationships of his team will help us identify, invest and develop great companies,” particularly in “niches where we have a unique vision and the ability to be value-added partners for our management teams. “

Experience at RedBird Capital and The Stephens Group

Prior to founding Braemont, Covington was a partner at RedBird Capital Partners, which Dallas Innovates introduced in July. He was previously Managing Director of The Stephens Group, a private equity firm investing capital on behalf of the Stephens family, one of the oldest private equity investors in the United States.

Previously, Covington was a partner at SSM Partners, a private equity firm specializing in growth-stage technologies, business services and consumer services firms. Prior to SSM, Robert was the Founder and CEO of Firstdoor, now part of Infor, where he ran a 70-person company that was one of the early business models of “Software as a Service”.

Covington has more than the blessing of RedBird Capital in launching his new business – he has the “full backing” of its founder.

“We are delighted that Braemont allows Robert to pursue his passion for investing in these targeted end markets,” said Gerry Cardinale, Founder and Managing Partner of RedBird Capital Partners, in the release. “He has our full support in building a differentiated investment firm, and we look forward to working with him for the long term. ”

Braemont’s objective: “Invest to build”

Braemont plans to invest in “exceptional companies at inflection points of growth”. The company says its capital base will allow it to be flexible in structuring and holding investments in business start-ups to create “lasting value”.

The company claims to have already concluded a first closing of its first investment vehicle, “with substantial capital commitments from an institutional investor representing several leading endowments, family offices and individuals who are very much in phase. with the strategy of the company “.

Corporate investments

Braemont will focus on both business B2B investments and consumer B2C growth products and services. On the business side, it will invest in “horizontally and vertically oriented products and services that meet critical business needs”. Its B2B targets will include vertical SaaS companies; technology-based services; insurance distribution and services; equipment services and the built environment; and communications infrastructure.

Consumer investments

Among B2C companies, Braemont will focus on growth products and services based on technological, demographic or other key macro trends, including experiential hospitality; residential services; consumer and labor markets; consumer-oriented health technologies and services; and food / drink and consumables.

Change investments over time

In July, we wrote about how RedBird Capital often takes a “long-term view” when it comes to investing. Covington appears to be planning the same in Braemont. Its planned “typical” stock investments of $ 25 million to $ 200 million “can be staggered over time,” the company says on its website, adding that “our capital base allows for flexible holding periods so that we can prioritize and plan for long-term value. creation.”

The Braemont team

With founder and general partner Covington, the Braemont team includes a partner Jeff Volling, previously at Bessemer Investors, AE Investors, Madison Dearborn and Credit Suisse; May grass, who will be responsible for partnerships with entrepreneurs and family offices after stints at DH Capital, Signal Hill Capital, Wachovia and Deutsche Bank; Handsome Allen, a director of Braemont who was previously with JAM Capital Partners, RSE Ventures and Rizvi Traverse Management; Maximum green, a senior partner who was previously at UpEquity, RedBird Capital and Cain Brothers & Co.; Steve sims, CFA, Chief Operating Officer and Chief Compliance Officer of Braemont, previously at New Republic Partners, JP Morgan, The Stephens Group and Harris Williams & Co .; and chief of staff Jennifer peppard, formerly at Speedwell Capital, St. Mark’s School of Texas and The Winston School.

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YES acquires Kanthal’s semiconductor equipment equipment business https://angil.org/yes-acquires-kanthals-semiconductor-equipment-equipment-business/ https://angil.org/yes-acquires-kanthals-semiconductor-equipment-equipment-business/#respond Thu, 07 Oct 2021 13:02:01 +0000 https://angil.org/yes-acquires-kanthals-semiconductor-equipment-equipment-business/ “We aim to be the semiconductor industry’s supplier of choice for surface modification, material improvement and high-quality deposition,” said Rezwan Lateef, President of YES. FREMONT, Calif. (PRWEB) 07 October 2021 YES (Yield Engineering Systems, Inc.), a leading manufacturer of processing equipment for advanced semiconductor packaging, life sciences and “More-than-Moore” applications, announced today ‘hui having acquired […]]]>

“We aim to be the semiconductor industry’s supplier of choice for surface modification, material improvement and high-quality deposition,” said Rezwan Lateef, President of YES.

YES (Yield Engineering Systems, Inc.), a leading manufacturer of processing equipment for advanced semiconductor packaging, life sciences and “More-than-Moore” applications, announced today ‘hui having acquired the semiconductor equipment business of Swedish heating technology supplier Kanthal.

Under the terms of the agreement, which was signed on October 6, YES will become the owner of Kanthal’s portfolio of semiconductor-related capital goods, system-related upgrades and service requirements. The acquisition will add Kanthal’s high temperature (> 800 ° C) furnace technology as well as low pressure chemical vapor deposition (LPCVD) processes to YES ‘growing capabilities in heat treatment.

“We aim to be the semiconductor industry’s supplier of choice for surface modification, material improvement and high-quality deposition,” said Rezwan Lateef, President of YES. “With this acquisition of equipment and technical expertise from a leader in industrial heating, we look forward to supporting our global customer base with new high temperature annealing and bonding systems that take advantage of Kanthal heating equipment. Additionally, we believe that Kanthal LPCVD technology has the potential to open up exciting deposition opportunities for YES beyond our current single-layer coating systems, particularly in the areas of optics, power and microLEDs. .

About YES

YES (Yield Engineering Systems, Inc.) is a preferred supplier of high-tech and cost-effective equipment for the transformation of surfaces, materials and interfaces. The company’s product lines include vacuum hardening furnaces, chemical vapor deposition (CVD) systems and plasma etching tools used for precise surface modification and thin-film coating of semi-wafers. conductors, semiconductor and MEMS devices, and bio-devices. With YES, clients ranging from startups to Fortune 100 companies can create and volume produce products in a wide range of markets, including Advanced Packaging, MEMS, Augmented Reality / Virtual Reality, and Life Sciences. YES is headquartered in Fremont, California with a growing global presence. For more information, please visit http://www.yieldengineering.com.

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Why raising enterprise risk capital benefits startups https://angil.org/why-raising-enterprise-risk-capital-benefits-startups/ https://angil.org/why-raising-enterprise-risk-capital-benefits-startups/#respond Wed, 06 Oct 2021 20:40:54 +0000 https://angil.org/why-raising-enterprise-risk-capital-benefits-startups/ Opinions expressed by Contractor the contributors are theirs. Fundraising is a critical phase in the life of any startup, but it is also a difficult and difficult task to complete. The truth is, the amount of money a startup raises – and how the startup does it – plays a major role in the company’s […]]]>

Opinions expressed by Contractor the contributors are theirs.

Fundraising is a critical phase in the life of any startup, but it is also a difficult and difficult task to complete. The truth is, the amount of money a startup raises – and how the startup does it – plays a major role in the company’s future trajectory. There are many sources of capital, from angel investors to traditional venture capital funds, but I’d like to focus on corporate capital in particular.

Fundraising Sources

Fundraising is both a science and an art. The method a startup uses to raise funds helps determine their financial position and the help and advice the startup receives along the way. Startups may initially use personal or family funds to start their business, but crowdfunding has also grown in popularity. Yet venture capital finance is the dominant source and has reached an all time high in recent years; CB Insights reports that US-based venture capital investments totaled $ 130 billion in 2020.

In my experience, many startups raise capital from a single party. However, I think working with a variety of investors, ideally early on, is generally more effective for the startup. This approach allows the startup to get hands-on help from a diverse mix of investors who may offer different perspectives. Diversifying sources of capital is a well-known technique for helping a startup take control of its future growth, combining financial investment with the advice and expertise of experienced investors. We call it “smart money” in Silicon Valley because it combines financial capital with the daily help of qualified investors.

Related: Financing: What Is Entrepreneurial Capital Versus Venture Capital?

Why Enterprise Venture Capital is Popular

One popular way that startups can choose to achieve their growth projections is to raise business venture capital (CVC). It is becoming increasingly popular with startups and several HVAC organizations – including Intel Capital, Microsoft (M12), and IBM Ventures – who have been successful in finding financially positive investments. Global enterprise venture capital, according to CB Insights, hit a record high of $ 73 billion in 2020.

CVCs generally invest with a strategic objective in mind. They want to tap into innovation in all areas related to their current business and roadmap, in addition to achieving positive financial returns. In addition, CVCs aim to create new sources of income through strategic collaborations with portfolio companies. From a startup perspective, the company not only gets funding, but it also benefits from a company’s advice and infrastructure. It can help the startup learn how to grow their business, enter international markets, qualify for new products, and manufacture on a large scale.

In this case, both parties benefit from the HVAC model. Startups benefit from learning from the best, and companies benefit from learning cutting-edge technologies and business models. A good practice is for companies to provide startups with a proof of concept (POC) around a collaboration concept that takes a few months to complete. Based on the results of this POC, companies can invest in startups and explore with them the potential commercialization of a business model.

The CVC approach often gives the startup the kind of revenue history to help with future capital increases and attract new clients. In some cases, the collaboration evolves into a merger and acquisition agreement. Building a CVC relationship at an early stage initially benefits the startup through sound advice, business start-up ideas, and in the case of an acquisition, it helps with post-merger integrations. While Harvard business review reports that 70-90% of acquisitions fail, a strong CVC-startup relationship built through the investment can help overcome this failure rate.

Lately, I have seen several variations of HVAC models, further expanding the opportunities for startups. A small number of venture capital firms, including Pegasus Tech Ventures, invest using the Venture Capital-as-a-Service (VCaaS) model to benefit both businesses and startups. With this model, startups are invited to collaborate with multiple companies, while benefiting from the simplicity of working with a single VC partner. Additionally, startups may receive more funding over time as well as a growing support network.

Related: The Rise of Alternative Venture Capital


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