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Aerospace/Defense

A Peek Inside Moelis & Co.

October 6, 2008 - Moelis & Co. executives are proud of what the investment bank has achieved in its short lifespan. Just don't call their firm a boutique.

Unraveling Indian Conglomerates

September 29, 2008 - Domestic dealmakers may still occasionally garble the pronunciation of Tata Group, but the Indian conglomerate has nevertheless made a name for itself in US M&A circles. Other Indian multinationals are doing the same, as Mahindra, UB Group, Wipro Technologies, Essar Group and Reliance Group, among others, are fast becoming familiar names in state-side auctions. The difficulty for sellers, however, is that it can be impossible to precisely pinpoint the motivations of these buyers.

A Transformer

September 22, 2008 - A certain swagger is required to be able to walk into a company and transform a business. Greg Brenneman, who was recently named the chairman of private equity firm CCMP Capital Advisors, has that swagger in spades. For years he has been a go-to executive who could parachute down into a stagnating company and revitalize the operations in short order.

Private Equity Gets Heated In India

August 11, 2008 - When news surfaced this past week that Indian business mogul Anil Ambani's Reliance Capital was planning to raise $1 billion for a new India-focused private equity fund and Tata Capital had appointed banking veteran Shailendra Bhandari to run its private equity operations, the developments reinforced how much interest India's corporations have in investment prospects in their own backyard.

Aerospace M&A Takes Off

August 11, 2008 - For bankers specializing in aerospace and defense businesses, mergers and acquisitions activity has been lively this year. Deals are being driven by large companies, so-called strategic buyers, that have been busy swallowing up smaller counterparts to expand product lines.

M&Ain't

July 7, 2008 - By now, it's a well-worn tale, this one relayed by an investment banker: A private equity firm in the process of acquiring a company in a deal that would normally take six months will now spend a year hoping to get it done. But at least they're trying. Extended deal time frames and the falloff by private equity firms in buying companies have been the hallmark of the first half of this year, and while industry participants predict a slight uptick, overall not much will change in the remaining six months of the year. Regardless, Wall Street banks, which have laid off thousands of bankers due to the market slowdown, will continue to feel pressure in their M&A business the remainder of the year.

Signs of Interest from the North

June 23, 2008 - While there is continued global interest in acquiring Canadian companies and assets, especially from the US, the winds of economic change are beginning to blow in a new direction. Canadian acquirers, buoyed by a strong Canadian dollar, the weakened US economy and a tight lending environment in the US, are more actively participating in the US M&A market.

Small Caps Still Luring Hedge Funds

June 9, 2008 - The hedge fund universe is large, and managers are constantly seeking high returns, but there is one thing hedge funds still fancy in small packages: stocks.

Emerging Market Payola

June 2, 2008 - Under-the-table payments have long been considered just part of doing business in certain markets. The Department of Justice’s squeeze on BAE Systems CEO Michael Turner, however, signals that regulators are starting to crack down.

Deutsche Revamps Leveraged Debt CM

June 2, 2008 - Following the departure of its European head of leveraged debt capital markets, Deutsche Bank is pooling its global leveraged debt capital markets under one man, David Flannery.

KKR, JPMorgan Ride Infrastructure Train

May 26, 2008 - Kohlberg Kravis Roberts and JPMorgan have recruited infrastructure professionals in the wake of a significant development in the sector.

Airlines, Oil & Jen

May 26, 2008 - Random thoughts and second thoughts heading into the Memorial Day weekend...

In Defense of M&A

May 26, 2008 - When Italian aerospace and defense company Finmeccanica launched its $5.2 billion bid to acquire military contractor DRS Technologies at $81 per share earlier this month, the transaction represented more than just another new cross-border acquisition executed by a European acquirer. It heralded the potentially fierce corporate battle for market share taking shape in the US aerospace and defense supply business, where M&A activity is expected to continue heating up, according to industry observers.

Lehman Brothers Keen on SWFs

April 28, 2008 - Lehman Brothers named Makram Azar to fill a newly created position, global head of sovereign wealth funds. He also becomes chairman of media investment banking for Europe and the Middle East.

Restructuring Renewal at Jefferies

April 28, 2008 - Jefferies & Co. may have lost its restructuring and recapitalization practice co-heads, but the firm has replaced them and expects an uptick in business.