BallReviews
Equipment Boards => Brunswick => Topic started by: SVstar34 on May 25, 2015, 05:56:33 PM
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To Blue Mark Capital Management
http://www.bowlersjournal.com/?p=10615 (http://www.bowlersjournal.com/?p=10615)
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Was hoping it would be ABS
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I wonder if this is that company:
(http://www.bluemarkcapital.com/about-us (http://www.bluemarkcapital.com/about-us)
BLUEMARK
Capital, LLC
BlueMark Capital is a full service commercial mortgage banking firm with offices in Cincinnati, Dayton, and Cleveland, Ohio. BlueMark originates, closes, and services a loan portfolio in excess of $1.5 billion. In addition to having CMBS and agency relationships, the company exclusively represents more than 20 Life Insurance companies for the placement of commercial mortgages in the Midwest and maintains capabilities of closing business throughout the United States.
In addition to permanent fixed rate loan products, BlueMark actively offers consultative services for the commercial real estate industry including construction financing, equity capital, and credit tenant financing
With each principal of the company possessing more than 25 years of experience in the real estate finance field, BlueMark Capital will offer you knowledgeable, professional, and unbiased solutions for your commercial real estate financing needs.
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Seems odd, from commercial mortgage to bowling. Them being the agent for the buyer would make a little more sense.
Where's Brunsnick?
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Announcement tomorrow.
As with a lot of info that goes out before a public announcement, their info is not accurate.
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What surprises me is there were NO rumors before today! Was anyone aware that there was a sale contemplated?
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Announcement tomorrow.
As with a lot of info that goes out before a public announcement, their info is not accurate.
Are you saying that Bluemark is not the buyer?
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Announcement tomorrow.
As with a lot of info that goes out before a public announcement, their info is not accurate.
I hope that it is some other company as it does seem a little odd if it is that company
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update :
MCLEAN, Va., May 26, 2015 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (GAIN) ("Gladstone Investment") announced today that on May 22, 2015, it partnered with BlueArc Capital ("BlueArc"), Capitala Finance Corporation ("Capitala"), and members of executive management in the buyout of Brunswick Bowling Products, Inc. ("Brunswick"). Gladstone Investment provided equity and senior secured debt to complete the transaction. Brunswick has been a leader in the recreation industry for more than 165 years. Brunswick was founded in 1845 to make billiards tables and diversified into bowling products in 1890. Brunswick provides industry expertise, products, installation and maintenance for the development and renovation of new and existing centers as well as mixed-use facilities across the entertainment industry. Brunswick is the only full-line supplier of bowling center equipment, supplies and consumer bowling products.
"Brunswick is a brand with an outstanding legacy and the leading position in its market. We look forward to working with the management team and our investment partners, BlueArc and Capitala, to build on that foundation," said Kyle Largent, Managing Director of Gladstone Investment.
Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information on the transaction can be found at www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit
www.gladstone.com.http://finance.yahoo.com/news/gladstone-investment-corporation-acquires-brunswick-135905181.html
Bowlers Journal press release was close but I believe they meant BlueArc Capital Management (probably a typeo).
(Thomson Reuters ONE via COMTEX) -- LAKE FOREST, Ill., May 26, 2015 - Brunswick Corporation BC, -0.30% today announced it has completed the sale of its Bowling Products business to BlueArc Capital Management, LLC, a private investment firm based in Atlanta. Terms of the transaction were not disclosed.
"We are pleased that the buyer is a long-term investor and that the Brunswick name and all that it stands for will carry on and continue to set the standard in the bowling industry," explained Brunswick Chairman and Chief Executive Officer Dustan E. McCoy.
In 2014, Brunswick completed the sale of its retail bowling centers to Bowlmor AMF, and now reports the historical results of both the Bowling Retail and Products businesses as discontinued operations.
Brunswick anticipates net proceeds from both of these sales actions, which reflect current estimates of taxes and liabilities yet-to-be paid, to be in the $270 to $290 million range provided in the Company's original projections.
As previously stated, Brunswick's capital strategy prioritizes growth investments and acquisitions in the Marine and Fitness segments, maintaining a strong balance sheet and returning cash to our shareholders, McCoy reiterated.
Lazard served as exclusive financial advisor to Brunswick Corporation.
http://www.marketwatch.com/story/brunswick-corporation-brunswick-completes-divestiture-of-bowling-products-business-to-bluearc-capital-management-2015-05-26