New York (HedgeCo.Net)- New York hedge fund Fairhills Capital has entered into a contract with Corporate Acquisitions Group to identify, contract, and manage the process of acquiring up to $1 billion in private companies in the food service industry sector.<\/p>\n
The final sale price includes approximately 80% in cash, as well as 20% future stock in the new entity. Current ownership is also being offered the opportunity to continue to run their respective companies in a salaried position.<\/p>\n
The contract was established on February 2, 2007 between both parties. During the following 30 days, 13 companies in 6 states were brought into the project with a total value of $145 million, $15 million in EBIDTA, $14.7 million in real estate, and $54 million in other assets.<\/p>\n
On April 13, 2007 the hedge fund began closing on the first business purchase within the project.<\/p>\n
As of May 31, 2007, 33 companies were involved with a total project value of $432 million. Over $79 million had already closed and the project was anticipated to be completed and closed by the end of August 2007.<\/p>\n
The 33 companies currently in the project represent sole proprietors, C Corporations, S Corporations, and LLC organizations in 22 states including Hawaii.<\/p>\n
Corporate Acquisition Group has worked with hundreds of similar business purchases, and continues to offer such services to hedge funds, high net worth individuals, private equity groups, and business owners.<\/p>\n
Alex Akesson<\/p>\n
Contributing Writer HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! <\/p>\n Be sure to check out our sister sites. www.hedgefundlounge.com<\/a>, www.hedgefundtools.com,<\/a><\/strong> and www.hedgefundemployment.com.<\/strong><\/a> <\/p>\n<\/p><\/div>\n<\/div>\n <\/p>\n
HedgeCo.Net
Email: Editor@hedgeco.net<\/a><\/p>\n