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Encyclopedia > HM Capital


HM Capital is a private equity firm in the United States that specializes in leveraged buyouts. The firm was previously known as Hicks, Muse, Tate & Furst. The firm was founded in 1989 by Tom Hicks and John Muse as Hicks, Muse & Co. and was changed in 1994 to reflect the roles of Charles Tate and Jack Furst. January 2006 : January - February - March - April - May - June - July - August - September - October - November - December- → 31 January 2006 (Tuesday) U.S. President George W. Bush delivers the State of the Union Address to a joint session of the U.S. Congress (the House of Representatives and the Senate). ... A leveraged buyout (or LBO, or highly-leveraged transaction (HLT), or bootstrap transaction) occurs when a financial sponsor gains control of a majority of a target companys equity through the use of borrowed money or debt. ... Tom Hicks at a Texas Rangers press conference. ...


History

The son of a Texas radio station owner, Tom Hicks became interested in leveraged buyouts as a member of First National Bank's venture capital group. Hicks and Robert Haas formed Hicks & Haas in 1984; the next year that firm bought Hicks Communications, a radio outfit run by Hicks' brother Steven. (This would be the first of many media companies bought or created by the buyout firm, often with Steven Hicks' involvement.) Official language(s) None. ... To meet Wikipedias quality standards and appeal to a wider international audience, this article may require cleanup. ... A leveraged buyout (or LBO, or highly-leveraged transaction (HLT), or bootstrap transaction) occurs when a financial sponsor gains control of a majority of a target companys equity through the use of borrowed money or debt. ... First National Bank is the name of many current and former banks throughout the United States, most of which are independent of each other. ... Venture capital is a general term to describe financing for startup and early stage businesses as well as businesses in turn around situations. ... 1984 (MCMLXXXIV) was a leap year starting on Sunday of the Gregorian calendar. ...


Hicks & Haas' biggest coup was its mid-1980s buy of several soft drink makers, including Dr Pepper and 7 Up. The firm took Dr Pepper/7 Up public just 18 months after merging the two companies. In all, Hicks & Haas turned $88 million of investor funding into $1.3 billion. The pair split up in 1989; Hicks wanted to raise a large pool to invest, but Haas preferred to work deal by deal. MacGyver is one of the symbols of the 1980s in America The 1980s decade refers to the years from 1980 to 1989, inclusive. ... A soft drink is a drink that contains no alcohol. ... Dr Pepper is a popular caramel-colored, carbonated soft drink marketed in the United States by Dr Pepper/Seven Up, Inc. ... This article is about a soft drink. ... 1989 (MCMLXXXIX) was a common year starting on Sunday of the Gregorian calendar. ...


Hicks raised $250 million in 1989 and teamed with former Prudential Securities banker John Muse. Early investments included Life Partners Group (life insurance, 1990; sold 1996). In 1991 Morgan Stanley's Charles Tate and First Boston's Jack Furst became partners. Prudential plc is a United Kingdom based financial services company. ... It has been suggested that Life assurance be merged into this article or section. ... This article is about the year. ... 1996 (MCMXCVI) was a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... 1991 (MCMXCI) was a common year starting on Tuesday of the Gregorian calendar. ... Morgan Stanley NYSE: MS is an investment bank, retail broker, and credit card provider with headquarters in New York Citys Times Square. ... Credit Suisse First Boston (CSFB) is a New York City based investment banking and financial services firm. ...


As part of its buy-and-build strategy, Hicks Muse bought DuPont's connector systems unit in 1993, renamed it Berg Electronics, added six more companies to it, and doubled its earnings before selling it in 1998. Not every move was a star in the Hicks Muse crown. Less-than-successful purchases included bankrupt brewer G. Heileman, bought in 1994 and sold two years later for an almost $100 million loss. This article is about the DuPont company. ... 1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ... 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated the International year of the Family. ...


The buyout firm's Chancellor Media radio company went public in 1996. That year Hicks Muse gained entry into Latin America with its purchases of cash-starved Mexican companies, including Seguros Commercial America, one of the country's largest insurers. That year also brought International Home Foods (Jiffy Pop, Chef Boyardee) into the Hicks Muse fold. Latin America consists of the countries of South America and some of North America (including Central America and some the islands of the Caribbean) whose inhabitants mostly speak Romance languages, although Native American languages are also spoken. ... Chef Boyardee in an early television commercial. ...


In 1997 Chancellor and Evergreen Media merged to form Chancellor Media (renamed AMFM in 1999). The next year Hicks Muse continued buying US and Latin American media companies, as well as a few oddities (a UK software maker, a Danish seed company, and US direct-seller Home Interiors & Gifts]). Hicks Muse and Kohlberg Kravis Roberts merged their cinema operations to form the US's largest theater chain. The company that year also moved into the depressed energy field (Triton Energy) and formed a $1.5 billion European fund. 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ... Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City based private equity firm that focuses primarily on late stage leveraged buyouts. ... A typical megaplex (AMC Ontario Mills 30 in Ontario, California). ... Europe is conventionally considered one of the seven continents of Earth which, in this case, is more a cultural and political distinction than a physiographic one, leading to various perspectives about Europes borders. ...


Buys in 1999 included UK food group Hillsdown Holdings, one-third of Mexican flour maker Grupo Minsa, and (just in time for millennial celebrations) popular champagne brands Mumm and Perrier-Jouët (it quadrupled its investment when it sold the champagne houses in late 2000). Lured by low stock prices on real estate investment trusts (REITs), the company agreed to buy Walden (formerly Walden Residential Properties) that year. Look up flour in Wiktionary, the free dictionary. ... Champagne is often drunk as part of a celebration Champagne is a sparkling wine produced by inducing the in-bottle secondary fermentation of wine to effect carbonation. ... This article is about the year 2000. ... A Real Estate Investment Trust or REIT (rhymes with treat) is a tax designation for a corporation investing in real estate that reduces or eliminates corporate income taxes. ...


Hicks Muse, along with UK-based Apax Partners, bought BT's yellow pages firm Yell for roughly $3.5 billion, making it the largest non-corporate LBO in European history. Yell bought US directories publisher McLeodUSA for about $600 million, and floated in 2003. Apax Partners is a private equity and venture capital firm which operates in the United Kingdom, United States, Europe, and Israel. ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...


Hicks Muse spotted a tasty deal and bought Nestlé's Ambient Food Business in 2002, which added well-known UK brands Crosse & Blackwell, Branston Pickle, Chivers (marmalade), Sun-Pat (peanut butter), Gale's (honey), Sarson's (vinegar) and Rowntree's (jelly) to the Premier Foods stable. Cereal maker Weetabix Limited and Unilever's cast-offs Ambrosia (creamed rice and puddings) and Brown & Polson, rounded out Premier Foods' portfolio in 2003. Nestlé S.A. or Société des Produits Nestlé S.A., headquartered in Vevey, Switzerland, is the worlds biggest food and beverage company. ... For the Cusco album, see 2002 (album). ... Crosse & Blackwell is a portfolio of retail food brands sold by the Nestlé Group to Premier International Foods in 2002. ... Branston Pickle is a brand of jarred pickle in the United Kingdom. ... Marmalade is a sweet conserve made from fruit, sugar, and (usually) a gelling agent. ... Sun-Pat is a brand of peanut butter in the United Kingdom. ... Peanut Butter in a jar Peanut butter is a food product usually made of of roasted and ground peanuts, usually salted and sometimes sweetened. ... Honey honey comb A capped frame of honeycomb Honey is a sweet and viscous fluid produced by honeybees and other insects from the nectar of flowers. ... Vinegar is often infused with spices or herbs—as here, with oregano. ... Rowntrees is a brand of Nestlé SA and is currently known for a range of fruit gums and pastilles, plus a number of ice lollies (made by Richmond Foods). ... Look up jelly in Wiktionary, the free dictionary. ... Premier Foods plc is a British based food manufacturer headquartered in St Albans. ... This article is about grains in general. ... Weetabix Limited is a food processing company that is responsible for the production of breakfast cereal brands. ... Unilever (Euronext: UNA, LSE: ULVR, NYSE: UN) is an Anglo-Dutch company that owns many of the worlds consumer product brands in foods, beverages, cleaning agents and personal care products. ... In ancient mythology, Ambrosia (Greek ) is sometimes the food, sometimes the drink, of the gods. ...


Acquisitions in 2004 included Kerns Oil & Gas (renamed Blackbrush Energy -- natural gas production), Persona (Canadian cable television company), Regency Gas Services (gas processing and distribution), and Centennial Puerto Rico Cable TV (Puerto Rican cable television company). It also agreed to buy a majority stake in trendy luxury shoemaker Jimmy Choo. Disposals during the year included the company's remaining stake in Yell and its stake in Premier Foods. Thomas Hicks retired at the end of 2004; co-founder John Muse replaced him at the helm of the firm. 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Natural gas, commonly referred to as gas, is a gaseous fossil fuel consisting primarily of methane. ... Persona Inc. ... Coaxial cable is often used to transmit cable television into the house. ... Womens shoes on display in a shop window, July 2005 A shoe is an item of footwear. ... Jimmy Choo OBE (Chinese : 周仰傑; pinyin: Zhōu YÇŽngjié) is a Hakka Chinese designer based in London, England. ...


The company's European arm, which has been on a roll, split from the company in January of 2005. 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...


References


 
 

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