2. misc-audio
  3. 177954-157524

McIntosh Group purchased by PE firm

Highlander Partners out of Dallas TX

Link: https://wnbf.com/binghamtons-legendary-audio-equipment-maker-mcintosh-labs-sold/

Second time in 10 years they have been bought. Will be interested to see what this means…

osodelnorte
ricmech23
108 posts
 

What are the chances of them moving to Dallas?

nonoise's avatar
nonoise
10,907 posts
 

This is the business model that Mitt Romney made his fortune from. 

  • Take over board by buying out members
  • Take out loans and saddle company with debt
  • Charge enormous fees for "managing" things
  • Make it more efficient by cutting quality and downsize labor to pay interest on debt
  • State your mission accomplished and leave company with debt so large they have to declare bankruptcy 
  • Move onto next victim business

To think this used to be illegal a long time ago makes one wonder....

All the best,
Nonoise

 

Ag insider logo xs@2x
cleeds
6,004 posts
 

nonoise

This is the business model that Mitt Romney made his fortune from. Take over board by buying out member ... leave company with debt so large they have to declare bankruptcy ...

In case you weren't aware, @nonoise  Romney has actually already bought and sold McIntosh, because he was an owner of Bain Capital, the PE firm that acquired D&M holdings around 2008.

nonoise's avatar
nonoise
10,907 posts
 

@cleeds, No, I wasn't aware of Romney doing that but it's quite an unusual thing for him to do as his record is that of strip, dump and run shark.

All the best,
Nonoise

juanmanuelfangioii
958 posts
 

@cleeds Bain also owns Guitar Centers since 2007 and BRP Since 2003, Dominos since 1998, just to name a few and they have $150 billion dollar portfolio.

Not a fan of Bain or their track record. Like Carl Ichon they are pirates.

Mitt also came from money, as his father George was CEO  American Motors back in the day. 

Rich getting richer. 

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