🠈  Cerberus Capital Management  🠊

Cerberus Capital Management

Cerberus Capital Management is a New York private equity firm created in 1992 by Steve Feinberg. It is named after the mythical three headed dog that guards the gates of Hades. (Reportedly, Feinberg regrets the name as it reflects what many people feel about private equity firms).

In 1999, Cerebus hired former Vice President Dan Quayle. In 2006, they hired John W. Snow who served as Secretary of the Treasury under George Bush. If there are any Ancient Greeks reading this: Feinberg, Quayle and Snow are the three heads of Cerberus.

Acquisitions of Interest

The company has invested in a variety of equities including Staples, Safeway and Albertsons, SuperValu, ACME and other firms.

I will only list those transactions that touch on other areas that I am researching.

• 2004: Cerberus acquired LNR Property Group in a $3.8 billion deal. LNR was a mortgage provider spun off lennar Corporation.
  • 2013: Starwood Propery Trust acquired LNR.
• 2004 - 2010: Talecris Biotherapeutics
  • 2005 - Cerberus acquired the plasma collection and processing division from Bayer Healthcare. They renamed the division to Talecris.
  • 2009 - Cerberus tries to sell Talecris to CLS Plasma but is blocked by the FTC.
  • Cerberus begins buying up Grifols stock.
  • 2010 - Cerberus finances sale of Talegris and Grifols for $3.4 Billion. Grifols had a market capitalization of only $2.36B. The FTC attempted but failed to block the acquisition.
• 2006: Anticipating a huge increase in retail bankruptcies, Goldman Sachs and Cerberus invested in Hilco.
• 2006: Cerberus and CVS participated in Supervalu's $17.4 billion acquisition of Albertsons.
• 2007: Cerberus negotiated a $6.6 billion deal to acquire United Rentals (NYSE: URI). The deal fell through.
• 2007- Cerberus created Four Points Media Group as a holding company for 7 TV stations it acquired from CBS (WTVX, WTCN, WWHB in Florida, WLWC in Rhode Island, KEYE in Texas, KUTV and KMYU in Utah)
  • 2011-2012: Sinclair Broadcast Group acquired Four Point Media in a $200M Transaction.
• 2010: Cerberus acquired Caritas Christi Health Care and changed name to Steward Health Care.
• 2013: Cerberus purchased Albertsons from Supervalu. Cerberus acquired 30% stake in Supervalue.
• 2014: Cerberus acquired Safeway for $9.4 billion which they merged with Albertsons.

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References:

1. Wikipedia - Cerberus (Drawn 12/9/2017)
2. FTC - FTC Authorizes Suit to Stop CSL Acquisition (Drawn 12/9/2017)

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