Bain Capital’s acquisition of D&M Holdings is being done without any involvement from Kenwood, contrary to media reports, Bain said in a statement Tuesday. “In response to speculation regarding the anticipated tender offer for D&M Holdings,” the statement read, “Bain Capital would like to clarify that Kenwood is not an investor in the proposed transaction, and there are no discussions or plans regarding a future alliance with D&M at this time.”
D&M Holdings Inc.
The auctioning off of electronics brand D&M Holdings came to an end Friday when the entire company- not merely that 49 percent previously for sale- was acquired by Bain Capital Partners LLC for the equivalent of $441 million, Bloomberg News reported. U.S.-based Bain will purchase RHJ International’s 49 percent stake, and buy the rest of the company outright through a tender offer, Bloomberg said. The company will then be delisted and taken private. D&M, producer of Denon, Marantz, Boston Acoustics, Snell Acoustics and other brands, was put up for sale earlier this spring. What do you think about this deal? Talk about
A group led by Bain Capital and including Kenwood Corp. has secured nearly $650 million in financing in its bid to take over a 49 percent stake in audio giant D&M Holdings, Reuters reported Tuesday. An analysis by the Stratecon Group, meanwhile, put the Bain-led bid “at the forefront” of the bidding. Advantage Partners is thought to be the only remaining rival bidder. The 49 percent stake in D&M is presently owned by RHJ International; the winner of the bidding is expected to launch a bid for the remaining 51 percent of the company, Reuters said. Who do you think will acquire
D&M Holdings has laid off “dozens” of employees from its Boston Acoustics division, as rumors swirl about D&M’s possible sale. That’s according to a report by the Stratecon Group that was released Monday. Stratecon quoted a D&M spokesperson as saying the layoffs affected about 30 employees, with more than 100 remaining. The spokeswoman, Gail Petersen, denied that the layoffs had anything to do with a potential sale. What do you think about D&M doing this? Talk about it in the Dealerscope forums.
Another day, another new bidder for D&M Holdings. The Stratecon Group reported Tuesday, citing Japanese news service Nikkei, that Kenwood has teamed up with Bain Capital to make a bid for D&M, a 49 percent stake of which is being auctioned off by RHJ International. Stratecon added that final bidding is expected to take place in mid-May, and that the four “finalists” are Best Buy, the Bain/Kenwood group, Merrill Lynch, and Advantage Partners LLP. Who do you think will win the bidding? Talk about it in the Dealerscope forums
Best Buy has emerged has a potential bidder for D&M Holdings, the Stratecon Group said late last week, citing a report from the Japanese news service JCN Network. In addition, a pair of private equity firms haave jumped into the bidding for the company, Reuters reported Friday. Bain Capital and Advantage Partners have both joined the bidding for the 49 percent of the company being auctioned off by holding company RHJ International. Merrill Lynch’s private equity arm is said to be in the running as well, as is Harman International, according to reports last month. However, the Stratecon Group reported that Harman is no
Harman International has made a bid to purchase D&M Holdings, its Japanese rival, in a move that would put it in control of a significant share of the global audio accessories market. According to the Japanese news service the Jiji Press, the bid was made on Friday, and amounts to 70 billion yen ($700 million in U.S. dollars.) Harman is seeking to purchase the 49 percent interest in D&M presently held by RHJ International, which issued an “invitation for tenders.” Philips Electronics is also seeking to sell its 12 percent stake in the company. The news of the bid sent D&M’s stock
For the first nine months of its fiscal year ending March 31, D&M Holdings reported that its commercial segment revenue and operating profits showed improvement, while revenue in its consumer segment dropped as a result of declines in DVD player sales s prior to the release of new high definition players. The company’s consolidated revenue for the first nine-month period from April 1 to Dec. 31, 2007 totaled JPY 83.8 billion, an 18% increase over the same period in 2006. Revenues in the Consumer AV (audio/video) and Commercial AV segments were JPY 59.1 billion and JPY 24.7 billion, respectively. For the nine-month period
The Japanese electronics holding company D&M Holdings said Friday that it has named Yoshiyuki Honda to the position of Chief Financial Officer, effective Oct. 1. Honda, who had previously held the position from 2002 through 2005, had been a member of D&H’s board of directors. He had also served as CFO of D&M’s parent company, DHJ International Japan. Honda replaces Zenichiro Ishibashi, who left the company to “pursue other interests,” the company said in a statement. D&M’s holdings include the Boston Acoustics, Denon, Escient, Marantz, and ReplayTV brands, among others.