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Gladstone Place Partners reps Weber Inc.’s special committee of the board that has agreed to be take the outdoor grill maker private via a buyout by BDT Capital Partners.
The transaction implies a $3.7B enterprise value for Weber.
The committee deemed acceptance of BDT Capital’s $8.05 per share offer, which represents a 60 percent premium over Weber’s closing stock price prior to the announcement of the deal, to be in the best interest of shareholders.
BDT has been a long-time strategic partner with Weber, which is the leading grill marketer in the US, Germany, Australia, Canada and France.
Weber went public in 2021 with media support from Brunswick Group.
Gladstone Place Partners Steve Lipin and Felipe Ucros represent Weber’s special committee.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
