Carlyle Group to buy candle seller Blyth for $98 Million

31 Aug 2015 | Author: | No comments yet »

BLYTH ALERT: Shareholder Rights Law FirmJohnson & Weaver, LLPLaunches an Investigation into the Proposed Sale of Blyth, Inc.; Encourages Investors to Contact the Firm for Additional Information.

SAN DIEGO, Aug 31, 2015 (BUSINESS WIRE) — Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Blyth, Inc. The Atlanta firm got approval from the Federal Trade Commission to acquire Safemark, a maker of hotel room safes and electronic lockers, Lillian Rizzo reports. A few other stories available exclusively for LBO Wire subscribers: Reidan Cruz has left Carlyle Group to join some fellow Probitas Partners executives over at GCA Savvian’s private funds group . . . Thoma Bravo is joining TA Associates as an investor in DigiCert Inc., a provider of online authentication services to businesses such as Facebook Inc. and PayPal Holdings Inc. (LBO Wire is a daily newsletter with comprehensive analysis of all the investments, deals, fundraisings and personnel moves involving private equity firms.

Under the terms of the agreement, an affiliate of The Carlyle Group will commence a tender offer for all of Blyth’s outstanding shares of common stock at $6.00 per share in cash. Blyth, founded in 1976 and based in Greenwich, Connecticut, is known for making candles and other home fragrance products under the PartyLite, Silver Star, Walter Drake brands. Meanwhile, top gainers in the sector included The Medicines Company (NASDAQ: MDCO), up 13 percent, and Idera Pharmaceuticals Inc (NASDAQ: IDRA), up 5 percent. For a two-week trial, visit our homepage http://pevc.dowjones.com, scroll to the bottom and click “try for free.”) Carlyle Group plans to buy candle and home fragrance company Blyth Inc. in a deal valued at $98 million, Lisa Beilfuss reports for The Wall Street Journal. Blyth Chairman Robert Goergen and CEO Robert Goergen Jr., who a combined 38 percent of the target, have agreed to tender their shares in the transaction. “We expect Carlyle’s deep experience in global consumer businesses will help drive Blyth’s product innovation and growth goals,” says Carlyle managing director David Stonehill.

We, of course, couldn’t help be reminded of that old nursery rhyme about the three men in the tub and realized that with the closing of the Blyth deal, Carlyle will in fact have a butcher, a baker (of pizza!) and a candlestick maker in its portfolio. Concurrently, the Washington, D.C.-based firm also seeks to sell aircraft leasing and maintenance company Landmark Aviation for as much as $1.7 billion, Reuters’s Mike Stone reports. If you are a shareholder of Blyth and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ( jimb@johnsonandweaver.com ) at 619-814-4471.

Holders of unsecured bonds are swapping their debt at deep discounts for new notes that offer them some claim on cash-strapped oil and gas companies’ assets, joining a long line of debtors in the event of default, writes WSJ’s Matt Jarzemsky. Lindel Eakman, head of private market investments at University of Texas Investment Management Co., is stepping down after 13 years with the endowment, possibly to start his own venture capital firm, Dan Primack reports for Fortune. The firm’s other middle-market investments includes: automotive repair center Service King; IT company ECI Software Solutions; and sports travel and events provider PrimeSport. ConforMIS also reported that it has begun a voluntary recall of specific serial numbers of patient-specific instrumentation for the iUni, iDuo and iTotal systems.

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