Kutheni uMtyali-mali olitshantliziyo enomdla kwiRetailer Mattress Firm? Asiyonto oyicingayo

Iifemu zezabelo zabucala kunye nabatyali-zimali ngokugqithisileyo iBerkshire Partners LLC ibambe izabelo kwinkampani ephethe umatrasi yomthengisi. (MFRM)
Kodwa hayi ngale nto uyifunayo.
Ngokuqhelekileyo, xa inkampani ethengisa izinto, eyaziwa ngokuba yi-activism, ibambe inxaxheba enkulu kwinkampani, injongo yayo kukudala utshintsho kwaye mhlawumbi yenze ukuthenga.
Kodwa akunakwenzeka kule meko.
UBerkshire ubhengeze ikopi ye-10 ngoFebruwari 9.
I-4% yesabelo kwinkampani yoomatrasi.
NgoFebruwari 24, umthengisi wonyula abagqatswa bebhodi ababini abavela eBerkshire kunye nengalo yotyalo-mali iStockbridge, abaya kuqhuba intlanganiso yonyaka yenkampani.
Kubonakala ngathi kuza utshintsho.
Iifemu zezabelo zabucala zikholisa ukujolisa kumashishini axabisa ngaphantsi kwe-7-
Umvuzo ngaphambi kwenzala, irhafu, ukuhla kwexabiso kunye nokuhlawula amatyala (
I-EBITDA, enokusetyenziswa ukuhlawula inzala kwityala kunye nesixa semali ephuma simahla ukuhlawula ityala)
Ukuba kusafuneka babonelele ngeprimiyamu koku, kodwa bavumele kuphela inkxaso-mali ukuya kuthi ga kumaxesha amathandathu e-EBITDA.
Ngokuqhelekileyo, i-multiples ephantsi, kulula ukufumana imali yetyala, kuba i-EBITDA ibonisa ukuhamba kwemali engasetyenziselwa ukuhlawula ityala.
Kule meko, ukuphindaphinda okuninzi kuthetha ukuba ukuxhaswa ngemali kwamatyala kuya kuba nzima ngakumbi ukulungiselela, oko kukuthi, ngaphandle kokuba iinkampani ze-PE zizimisele ukuhlawula imali eninzi.
Kodwa ixabiso lemarike yi-1 yeedola.
Ityala lilonke laliphantse libe malunga neebhiliyoni ezingama-55 zeerandi.
I-47 yeebhiliyoni, ixabiso lenkampani yoomatrasi malunga ne-3 yeebhiliyoni zeedola, malunga nokuphindaphinda kwe-8. 57-
Iphindwe kabini i-0 yeedola. I-35 yeebhiliyoni ezihlengahlengisiweyo ze-EBITDA ezilindelekileyo kulo nyaka-mali wangoku ukususela nge-31 kaJanuwari ka-2017.
Umthengisi, ongumnini wamasheya aphindwe kasixhenxe, akuyonto ilula ukuyithenga.
Ukongeza, inkampani yoomatrasi isandula ukugqiba i-0 yeedola. I-78 yeebhiliyoni zesivumelwano sokufumana i-Sleepy's, eyona nto ikhuphisana nayo, ethe yanyusa ityala layo kwiphepha layo lomncono.
Ngenxa yokuba abathengisi baqokelele amatyala amaninzi ukwenza i-acquisition kwaye bakwinkqubo yokudibanisa, kwenza kube nzima ukufumana amatyala amaninzi.
Idatha evela kwiiNkonzo zoMtyali weMoody's
Ityala lilonke lenkampani yoomatrasi liquka i-$0. 665 bhiliyoni.
Ukuthenga imali-mboleko yexesha elimiselweyo kwi-Sleepy, okwangoku inemali-mboleko yexesha elimiselweyo le-0 yeedola. 687 yeebhiliyoni (
I-amortized ukusuka ekuqaleni kwe-0 yeedola. 72 billion)
Ivolovolo yayo yaboleka iidola ezingama-60 kunye namanye amatyala ezigidi ezingama-57 zeerandi, ubukhulu becala enziwe yimali yokubambisa.
Ngawo onke amatyala kunye neenkampani zoomatrasi ezixakeke ngokudibanisa izinto ezintsha, akunakwenzeka ukuba iBerkshire yenze iimfuno ezininzi kwinkampani. ixesha.
Yintoni eyenziwa yile nkampani ye-PE?
I-Berkshire inokucinga ngokunyusa imbuyekezo ngokwenza utyalo-mali olungakumbi kwiinkampani ezidwelisiweyo apho ijonge ukuba nelizwi kwindlela yokulawula inkampani, nangona oku kugcino, abantu abaqhelene nalo mcimbi bathi.
Ngokunikwa kwiphepha lomncono lenkampani, izabelo eziphethwe ngabavukeli azithethi ukuba iBerkshire ifuna ukutyhala ukufunyanwa okuthe kratya okanye ukwabelana ngokuthenga, imithombo iqinisekisile.
Amalungu ebhodi yaseBerkshire asenokungabi nanto yakwenza noyena mnini sabelo mkhulu wenkampani, inkampani yoontanga ye-PE uJ. W.
Stroller Associates LP.
Inkampani yotyalo-mali iphethe i-36 yeeponti. 7% izabelo.
Ekuqaleni, le ntsebenziswano iya kunceda uJ. W.
Iwadi yabantwana yaseNew York-
Ikomkhulu layo likwi-40 North Management LLC, le yenye inkampani eneequity ezisi-8 kwiMatress.
I-5%, ileta yathunyelwa ngoFebruwari.
Umkhosi wabiza abathengisi ukuba bashukumise ibhodi.
I-40 North ithe ixhalabile ukuba uninzi lwamalungu ebhodi akazimeleyo ku-J. W.
Nangona i-PE ngoku ibambe igcuntswana lesabelo kubathengisi boomatrasi, Abantwana.
I-Berkshire inokubona ithuba lokunceda ukukhokela inkampani kwishishini eliguqukayo.
Iinkampani zoomatrasi kufuneka zigxile ekukhuleni kwabakhuphisana nabo
I-Ups eNew York-ikomkhulu eCasper Co.
, Ithengisa umatrasi ofikelelekayo kodwa okhululekileyo kwibhokisi ehlangeneyo enesiqinisekiso \"zama\"phambi kokuthenga\".
Ubuncinane ngaphandle, umthengisi uthe wayengakhathazeki kakhulu.
Ngelixa iCasper isaziwa ngeebhedi ezisebhokisini, ixabiso layo alitshiphu kakhulu kunoomatrasi abathengiswa yinkampani yoomatrasi.
Umzekelo, nangona iwele likaCasper's umatrasi lixabisa i-$500, imodeli yenkampani yoomatrasi ixabisa i-$300. \"Ukuqala kokulala-
I-Ups ngokuqinisekileyo ibalulekile kuba iyakwazi ukuvuselela umdla wababukeli abancinci ebuthongweni kwaye basenokungakhathali ukuba luhlobo luni lomandlalo abalala ngalo kwiminyaka embalwa edlulileyo, isithethi senkampani yoomatrasi sathi kwi-imeyile.
Isithethi songeze ukuba abathengi basathanda ukuchukumisa kwaye bave umatrasi ngaphambi kokuba bayithenge.
Mhlawumbi esi sisabelo sikaBerkshire kwinkampani yoomatrasi, etyale imali kwinkampani ngaphambi kokuba kuqaliswe ukufunyanwa.
Kodwa ayinakwenzeka, ngenxa yomthwalo wamatyala enkampani.
Ngokungakumbi, iBerkshire yenza into entsha;
Ixesha liya kusixelela ukuba yintoni na