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Tuesday, 24 October 2017

Stephen Lacey' s stories

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  • Ranger Energy works over investors on US$90m IPO

    Equities | 04 August 2017

    Ranger Energy Services, a provider of well workover services, is looking to push on from the recent commodity price recovery with an IPO sized at up to US$90m. Principal sponsors CSL Capital Management and Bayou Holdings have put in for up to US$30m of the deal.

  • Riverstone-backed SPAC targets US$500m on IPO

    Equities | 28 July 2017

    When it comes to oil & gas across Latin America there are not a lot of opportunities. Petrobras, YPF and Ecopetrol are options, but all carry baggage of state ownership and all are large, integrated and unlikely to move the needle on performance.

  • Team Inc plugs funding hole with high-cost CB

    Structured Equity | 28 July 2017

    Team Inc, a maintenance contractor to oil refiners and chemical plants, secured an amendment to bank facilities, ahead of soft second quarter results that would have seen it breach covenants.

  • XPO Logistics' freight forwards deal funding

    Equities | 21 July 2017

    Bradley Jacobs, the consummate dealmaker, reacquainted himself to equity investors, detailing plans to expand XPO Logistics with what turned into US$665.5m of new equity. Though Jacobs, who started and sold multiple businesses including United Rentals and United Waste Systems, has discussed potential acquisitions, no target was named alongside the stock sale.

  • Federal Street touts investor-friendly on SPAC

    Equities | 14 July 2017

    Not all SPACs are created equal.

  • Formula One puts legacy in rear view mirror

    Equities | 07 July 2017

    Formula One seems hell-bent on setting the record for IPO exits. The caveat, of course, is that the motor racing franchise never properly went public, as former owner CVC instead shifted toward a US$4.4bn sale to Liberty Media in November.

  • Blue Apron CEO Matthew B. Salzberg (C) stands on the floor of the New York Stock Exchan

    Blue Apron hits market with slimmed-down IPO

    Top News | 30 June 2017

    Blue Apron, the largest US home meal kit company, was forced to slash the valuation of its IPO by almost 40% last week in the wake of Amazon’s shock decision to buy Whole Foods.

  • Carrizo upsizes with Delaware Basin purchase

    Equities | 30 June 2017

    With oil in retreat and sector valuations hammered, now would seem an unusual time for E&Ps to make opportunistic acquisitions. And to the casual observer, it is – recent activity has been limited to sponsor exits of deepwater explorer Kosmos Energy and RSP Permian in May.

  • Canada Goose two-for-one stock sale not cheap

    Equities | 30 June 2017

    Canada Goose touted its continued expansion with the opening of a new production centre, its fifth, and a distribution centre, noting that it has increased the number of Canadian workers employed by 200% and that it now employs 10% of the country’s cut-and-sew labour force.

  • Canada Goose set loose for first follow-on

    Equities | 16 June 2017

    Canada Goose, the premium parka maker, filed documents on Wednesday to facilitate a secondary sell-down by private equity firm Bain Capital, senior management and other insiders. The proposed stock sale comes just three months after the IPO, well within the 180-day lock-up agreed with the underwriters.