“The transaction compressed a familiar private equity sequence into a year and a half: Buy a growing franchise, add debt, make distributions to the owners, prepare the company for public markets, and begin selling down the investment without surrendering control.” By Esther Luz #IPO #Debt #Markets
Despite High Hopes, Jersey Mike’s Shares Slip After $1 Billion IPOThe sandwich chain’s listing is seen as a test of investor appetite for consumer businesses, with Panera and Inspire Brands in the IPO pipeline.www.morningstar.com