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Martin Smith Case

2271 Words10 Pages

Introduction This report will critically analyse the Martin Smith: May 2002 case study focusing on the three investments opportunities. It will provide detailed analysis on the pros and cons of each of the investments and a recommendation will be proposed. When proposing the recommendation, the current situation of Newport Partners and Martin Smith, will be taken into consideration in order to explore the best possible transaction whilst eliminating as much risks. This report will also include a short summary of key points that were acquired while working on this assignment and whilst working in a group. Background on Case study Leveraged Buyouts refers to the takeover of a company predominantly financed by the issuance of debt usually in …show more content…

Newport are only able to acquire 40% stake upon paying $30 million which means the other shareholders may prove difficult for the private equity firm to implement their changes. As the price is attractive, Newport can expect to have competition from other bidders and may have to pay more than the initial price. Another risk is that the current CEO is strong-willed and does not work well with potential successors. Next, Rustica also presents risks such as the firm’s low capacity utilisation as well as the relative saturation of the market. Wildflower has the lowest risk compared to the other two as it is seen to be consistently growing, however it has a moderately lower level of financial strength compared to Rustica and Yellowstone Cattle Bank. As there are insufficient data and being that the three investments are from different industry, conducting an in depth financial ratio analysis will be difficult but nether less will still be done. Pilbeam ( 2010) mentions that financial ratios provide a useful summary of key financial data and enable a comparison to be made for the different …show more content…

It is mentioned that they ‘buy companies cheaply, leverage them heavily, live with the debt, and flip them to a market’ wanting to offer merges and acquisitions. (Hardymon, Lerner & Leamon, 2002) This is meant that since the offer price is the lowest Newport can get in and get out quickly and generate income as the company’s cash flow and potential growth is expected to increase in the years coming. The growth rate of the firm’s financial position of business provides a good rationale for leveraged

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