Corporate Acquisitions Group Hired to Help Hedge Fund with Billion Dollar Project
Englewood, CO, June 21, 2007 --(
PR.com)-- Corporate Acquisitions Group has entered into a contract with Fairhills Capital, a New York Hedge Fund, to identify, contract, and manage the process of acquiring up to $1 Billion in private companies in the food service industry sector.
The contract was established on February 2, 2007 between both parties. During the following 30 days, 13 companies in 6 states were brought into the project with a total value of $145 Million, $15 Million in EBIDTA, $14.7 million in Real Estate, and $54 million in other assets.
On April 13, 2007 the hedge fund began closing on the first business purchase within the project.
As of May 31, 2007, 33 companies were involved with a total project value of $432 million. Over $79 million had already closed and the project was anticipated to be completed and closed by the end of August 2007.
The 33 companies currently in the project represent sole proprietors, C Corporations, S Corporations, and LLC organizations in 22 states including Hawaii.
The buying entity determines value by independent valuations done by accounting firms and valuation companies depending on the assets involved. All transactions are audited by independent auditors paid for by the hedge fund. Valuations are paid for by the individual sellers. Corporate Acquisitions Group helped to facilitate communication amongst buyer and seller, as well as locate and verify each independent auditor, accountant, and valuation company, involved in the various acquisition deals.
The final sale price includes a cash component of approximately 80% as well as 20% future stock in the new entity. Current ownership is also being offered the opportunity to continue to run their respective companies in a salaried position.
Corporate Acquisition Group has worked with hundreds of similar business purchases, and continues to offer such services to hedge funds, high net worth individuals, private equity groups, and business owners.
For more information on Corporate Acquisition Group please visit www.cagglobal.com
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