Founded in 1992, Cerberus has built a highly regarded reputation for its expertise and excellence in deep value and distressed investing. Cerberus Capital Management, a private equity firm that owns a stake in Bushmaster, the gun manufacturer that produced the rifle used in the massacre of students and teachers at an elementary school in Connecticut, announced early Tuesday that it intends to sell that investment. [nL8N1PZ001] Remington was abandoned by some of its investors after one of its Bushmaster rifles was used in the Sandy Hook elementary school shooting in Connecticut in 2012 that killed 20 children and six adults. Cerberus Chief Executive Stephen Feinberg also considered a bid for Remington to stoke interest in the gunmaker from other potential acquirers, Reuters reported in 2012. If you continue to use this site we will assume that you are convenient with it.
LONDON and PARIS, 19 June 2018 – Cerberus Capital Management, L.P. (“Cerberus”) today announced that one of its affiliates has entered into an agreement to acquire Worldwide Flight Services (“WFS”) from Platinum Equity. Cerberus Capital Management LP, the private equity firm that controls Remington, will lose ownership of the company as a result of the bankruptcy. In 2015, Cerberus offered a mechanism to its fund investors that wanted to drop Remington, such as the California State Teachers’ Retirement System, to sell their stakes back to the company. Cerberus Capital Management General Information Description. The firm focuses on four primary strategies: operational private equity, both control and non-control; distressed securities and assets; commercial mid-market lending; and real estate-related investments. Reuters had reported last week that Remington was looking for financing to file for bankruptcy. Cerberus has a longstanding presence in Europe and WFS will be a fantastic addition to our growing portfolio.”Citigroup Global Markets Limited served as financial advisor to Cerberus and Linklaters LLP was Cerberus’s legal advisor.Founded in 1992, Cerberus is a global leader in alternative investing with approximately $34 billion in assets across complementary credit, private equity, and real estate strategies.
LONDON and PARIS, 19 June 2018 – Cerberus Capital Management, L.P. (“Cerberus”) today announced that one of its affiliates has entered into an agreement to acquire Worldwide Flight Services (“WFS”) from Platinum Equity.Headquartered in Paris, WFS is the world’s largest air cargo handler and a leading provider of ground handling services with over €1.2 billion of total revenues. The company’s creditors, which include Franklin Templeton Investments and JPMorgan Asset Management, will exchange their debt holdings for equity in the company. Remington’s sales plunged 27 percent in the first nine months of 2017, resulting in a $28 million operating loss. Remington plans to file bankruptcy in U.S. Bankruptcy Court in Delaware, seeking to write off about $700 million in debt. “We have an outstanding collection of brands and products, the unqualified support of a vibrant community across the industry, and a deep and powerful culture. WFS has a presence in 198 airport locations in 22 countries and serves over 300 customers.“WFS is a market leader in aviation services and is positioned to benefit from attractive long-term industry growth.” said Brett Ingersoll, Head of Global Private Equity and Senior Managing Director of Cerberus. Cerberus Capital Management, L.P. is an American private equity firm. 19.06.18 Cerberus Capital Management to Acquire Worldwide Flight Services. Business operations including employee wages and benefits and payments to trade creditors will continue as usual through the bankruptcy, the company said. Colt’s Manufacturing Co LLC, a competitor of Remington, emerged from bankruptcy in 2016 following falling sales of its sports rifles and the loss of military contracts. Reporting by Jessica DiNapoli in New York; Editing by Tom BrownFILE PHOTO: People look over Remington rifles and shotguns during the annual SHOT (Shooting, Hunting, Outdoor Trade) Show in Las Vegas January 15, 2013. Cerberus Capital Management, L.P. is one of the world’s leading private investment firms with over $30 billion under management.
LONDON and PARIS, 19 June 2018 – Cerberus Capital Management, L.P. (“Cerberus”) today announced that one of its affiliates has entered into an agreement to acquire Worldwide Flight Services (“WFS”) from Platinum Equity. Cerberus Capital Management LP, the private equity firm that controls Remington, will lose ownership of the company as a result of the bankruptcy. In 2015, Cerberus offered a mechanism to its fund investors that wanted to drop Remington, such as the California State Teachers’ Retirement System, to sell their stakes back to the company. Cerberus Capital Management General Information Description. The firm focuses on four primary strategies: operational private equity, both control and non-control; distressed securities and assets; commercial mid-market lending; and real estate-related investments. Reuters had reported last week that Remington was looking for financing to file for bankruptcy. Cerberus has a longstanding presence in Europe and WFS will be a fantastic addition to our growing portfolio.”Citigroup Global Markets Limited served as financial advisor to Cerberus and Linklaters LLP was Cerberus’s legal advisor.Founded in 1992, Cerberus is a global leader in alternative investing with approximately $34 billion in assets across complementary credit, private equity, and real estate strategies.
LONDON and PARIS, 19 June 2018 – Cerberus Capital Management, L.P. (“Cerberus”) today announced that one of its affiliates has entered into an agreement to acquire Worldwide Flight Services (“WFS”) from Platinum Equity.Headquartered in Paris, WFS is the world’s largest air cargo handler and a leading provider of ground handling services with over €1.2 billion of total revenues. The company’s creditors, which include Franklin Templeton Investments and JPMorgan Asset Management, will exchange their debt holdings for equity in the company. Remington’s sales plunged 27 percent in the first nine months of 2017, resulting in a $28 million operating loss. Remington plans to file bankruptcy in U.S. Bankruptcy Court in Delaware, seeking to write off about $700 million in debt. “We have an outstanding collection of brands and products, the unqualified support of a vibrant community across the industry, and a deep and powerful culture. WFS has a presence in 198 airport locations in 22 countries and serves over 300 customers.“WFS is a market leader in aviation services and is positioned to benefit from attractive long-term industry growth.” said Brett Ingersoll, Head of Global Private Equity and Senior Managing Director of Cerberus. Cerberus Capital Management, L.P. is an American private equity firm. 19.06.18 Cerberus Capital Management to Acquire Worldwide Flight Services. Business operations including employee wages and benefits and payments to trade creditors will continue as usual through the bankruptcy, the company said. Colt’s Manufacturing Co LLC, a competitor of Remington, emerged from bankruptcy in 2016 following falling sales of its sports rifles and the loss of military contracts. Reporting by Jessica DiNapoli in New York; Editing by Tom BrownFILE PHOTO: People look over Remington rifles and shotguns during the annual SHOT (Shooting, Hunting, Outdoor Trade) Show in Las Vegas January 15, 2013. Cerberus Capital Management, L.P. is one of the world’s leading private investment firms with over $30 billion under management.