American Safety Razor
This article was originally published in The Rose Sheet
Executive Summary
Acquired by J.W. Childs Equity Partners II, the firm announced Feb. 15. Under the definitive merger deal, the investment firm agrees to purchase American Safety Razor for approximately $173 mil. in cash, or $14 1/8 per share. American Safety Razor's board unanimously approved the deal. Funding is provided by $245 mil. of debt commitments by J.W. Childs, NationsBank and Donaldson, Lufkin & Jenrette. J.W. Childs has also made an equity investment commitment of $90 mil. PaineWebber represented American Safety; the investment firm was brought on in 1998 to explore the manufacturer's strategic options ("The Rose Sheet" Feb. 9, 1998, In Brief). American Safety Razor markets Revlon Perfect Finish female shave system and the Burma Shave, Flicker, Bump Fighter and LegMate brands
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