Our Sites » TechNews TechDatabase CVCA Canadian Private Equity Register     Log In

Private Equity Town Shoes

Published on May 12th, 2014 | by Ted Liu

0

DSW acquires 49% Town Shoes from AIMCo and other shareholders

DSW Inc. (NYSE: DSW) has closed its previously announced initial acquisition of Town Shoes Limited, the largest footwear and accessories retailer in Canada, for CDN $75.5 million or US $68.7 million in cash.

DSW acquired a 49.2% interest in Town Shoes from certain clients of Alberta Investment Management Corporation (AIMCo) and other minority shareholders. DSW’s initial announcement were for the 44% stake held by AIMCo for CDN $68 million.

DSW Inc.’s initial stake provides 50% voting control and board representation equal to the primary remaining shareholder, Callisto Capital.

Peter J. Solomon Company served as financial advisor to DSW Inc.

DSW will have the right to purchase the balance of Town Shoes from the Callisto Capital, after four years at a pre-determined EBITDA multiple.

Callisto Capital has the right to put the balance of the company to DSW after three years at a pre-determined EBITDA multiple.

Tags: , , , ,
 


About the Author

Ted is an editor of CanadianPrivateEquity.com and Research Director for CVCA - Canada's Venture Capital and Private Equity Association. Ted has been following Canadian venture capital and private equity industry since 1993.



Leave a Reply

Back to Top ↑
  • The Performance of VC-Backe Firms

  • Event Calendar

    << Aug 2014 >>
    MTWTFSS
    28 29 30 31 1 2 3
    4 5 6 7 8 9 10
    11 12 13 14 15 16 17
    18 19 20 21 22 23 24
    25 26 27 28 29 30 31

x

Receive FREE Daily Updates in your mailbox

* indicates required