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Pringles can user
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Discussion Starter · #1 ·
Just got a notice we got bought out by madison dearborn, anyone ever heard of them. we have been a family owned company for the the last 41 yrs did over $300 mil last year and they sold us to one of Romneys partners as it looks like Bain and madison are connected- im glad i voted for him!

http://www.mdcp.com/overview/
 

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Pringles can user
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Discussion Starter · #3 ·

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yo quiero su taco
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$300 mil in revenue, how much profit? Why did they sell?
 

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Ridiculously Good Looking
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Madison Dearborn is a VC Investment Firm - They will either pump money into your Co to grow it or break it up and sell it off
 

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Madison Dearborn is a VC Investment Firm - They will either pump money into your Co to grow it or break it up and sell it off
Yup! They were a spinoff from the company I work for. You really won't know what they do with you till they do it. It really depends on the situation.
 

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Pringles can user
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Discussion Starter · #10 ·
http://www.nwherald.com/2012/11/06/sage-products-to-be-purchased-by-madison-dearborn/aj1bqlo/

according to my boss they will keep everything intact for 5 yrs and then its open season - i knew something was up 4 months ago by the way they were dressing up everything they have stated 6 months ago they want to hit 500 mil and i figured the only way they could do it was by partnering up. im not too worried as whatever happens happens, im a mfg engineer right now but my background is a packaging machine tech and ive never had a hard time finding a good paying tech job and none of the other mfg engineers know all the equipment intimately or know how to even turn a wrench and i dont make over 80k a year so it should by me some time - it is a great comapny to work for as im coming on almost 11 yrs and havent killed myself- i think they sold cause the old man vince is almost 80, his son is a yr younger than me and they are worth alot of money real good Italian family, vince can go out on the floor and can still remember peoples names after only meeting them a few times hes a rare bird - great man and philanthropist. lots of Foglia buildings, ymcas named after him. god bless them as ive been fortunate to have been afforded the op to work there. so well see what happens. the big guy upstairs has a plan!
 

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Ridiculously Good Looking
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Isn't hat the case with any takeover?
No - Some buy for an investment and let them operate as a wholly owned subsidiary of - Others buy to merge into their portfolio to fill a gap or expand a presence - Then there are the (2) I already mentioned - It all depends on what MDP wants to do and how they want to do it - They could fire the entire Mgt and Exec board and replace - They could fund the shit outta shit - Who knows
 

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Yes they'll keep you for 5 years in which time the investors want their money back, thus you get sold again or broke up.
 

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Old Squid on a Blade
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Pringles can user
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Discussion Starter · #16 ·
i hate when family owned business sell or close up shop. Usually the kids don't want to run the business anymore
thats what is going on, the son is 46, his trust kicks in in 4 yrs and hes worth millions - i cant blame him - cool guy - has a fast ass foutain boat - twin 850 horse motors 100mph fuckin boat - nuttin like hittin 90 on lake michigan - it sacared the shit outta me.
 

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pfft.
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We got bought by a scary creepy private equity firm that pretty much owns DC and when I first heard I wanted to run and hide, but honestly we were doing well and so we didn't see much change as a result of the buy. In fact, they got us new flavors for our Flavia machine and brought back the Mini Moos. It's high times over here.
 

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Pringles can user
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Discussion Starter · #18 ·
We just had our meeting, looks like we should be ok for a few years all these guys want to do is grow our business and they will keep the same leadership and executive staff till at least 2016 so well see what happens. the name stays the same the old man will still be Chairman of the board.
 

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Pringles can user
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Discussion Starter · #19 · (Edited)
Our company just got bought out and the deal just completed on Wednesday, they are giving us a bonus of 2% of our base salary and multiply it by the number of years there so im looking at 22% of my annual salary so im looking at 11years, they will pay us 1/2 next week and the other half in Dec 2013. Why would they hold off paying us all of it now? also if your gone by next december you wont get the rest. Do you know why they would do this?

I also heard they are going to buy the old timers out that are near retirement - 1-3 yrs before retirement age. looks like the shit is starting - they are telling everyone that executive staff will stay the same till at least 2016 then its open season.
 

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They need help with the synergy. It's motivation for you to stay through it.
 
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