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Showing results 1 to 12 of 12
Search took 0.00 seconds. Search: Posts Made By: Letterkenny
Forum: Cruising News & Events 12-11-2023, 00:30
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

And then there’s their story and the truth is somewhere in the middle. Doesn’t sound like a good experience but there’s likely more to it than that.
Forum: Cruising News & Events 11-11-2023, 10:26
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

When I mentioned the three main pillars for success, you can see how the customer intimacy once is important and how they are falling short for your experience. I’ve had some bad experiences at my...
Forum: Cruising News & Events 10-11-2023, 22:22
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

Honestly just seems like you more have a personal vendetta against them. None of what you have said about the PE ownership strategy is true. I haven’t done a deep dive on the history of WM but seems...
Forum: Cruising News & Events 09-11-2023, 23:59
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

While I can appreciate you trying to be more informed, I can say there is a lot of disconnect from reality. I work with these firms all the time so am very attuned to what they do.

As they are...
Forum: Cruising News & Events 09-11-2023, 13:16
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

It sounds like you are just gauging this from your outside speculation. From first hand experience, that’s not how this works and there’s a lot wrong about your argument.
Forum: Cruising News & Events 09-11-2023, 00:59
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

I will say that does not happen frequently in the public company realm. Boards usually negotiate full purchases, there are minority shareholder rights, usually poison pills in place, etc. etc. When...
Forum: Cruising News & Events 08-11-2023, 20:29
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

I don’t understand what you are talking about with L Catt “playing with the shareholders wads of cash”. Once they come in, they are the only shareholders. They bought out all of them. If they go...
Forum: Cruising News & Events 08-11-2023, 00:26
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

You are mixing concepts here. The CEO is irrelevant. The whole fund strategy is likely a LBO model with a 5 year fund life so the PE shop looks for company’s that meet the bill of the fund and...
Forum: Cruising News & Events 08-11-2023, 00:22
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

You kept mentioning public shareholders when that’s factually inaccurate. By going private, you get rid of the shareholders outside of the investors with which whatever fund this acquisition is in....
Forum: Cruising News & Events 07-11-2023, 10:13
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

Except they wouldn’t be the lien holders in that position and be at the bottom of the totem pole as common equity holders.

The whole incentive is that they saw a company undervalued and where...
Forum: Cruising News & Events 01-11-2023, 01:02
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

That’s not actually how it will work. If the purchase price for the entity was $1B, no bank is going to give them $1.5B of debt until they can prove increased valuations which doesn’t happen right...
Forum: Cruising News & Events 01-11-2023, 00:54
Replies: 159
Views: 19,936
Posted By Letterkenny
Re: West Marine Restructures Debt

Well that’s not always the play and I assume what they did more so was structure the purchase price with debt versus paying themselves out a dividend (I have seen this as well but not in these types...
Showing results 1 to 12 of 12

 
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