Goldman Sachs in $8.3 Billion MBO of Aramark
September 27, 2006
Cleary Gottlieb is advising Goldman, Sachs & Co. and J.P. Morgan Securities, Inc., as financial advisors to the management-led group buying out Aramark. Aramark’s CEO, Joseph Neubauer, and investment funds managed by GS Capital Partners, CCMP Capital Advisors and J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC signed an agreement on August 8 to acquire Aramark in an acquisition valued at approximately $8.3 billion, including the assumption or repayment of approximately $2.0 billion of debt. The acquisition is expected to close later this year or in early 2007 following regulatory and stockholder approvals, including a special stockholder approval where each share owned by Mr. Neubauer will have only one vote rather than the 10 votes to which he is entitled.
Aramark is a leader in diversified outsourcing, providing award-winning food services, facilities management, and uniform and career apparel to health care institutions, universities and school districts, stadiums and arenas, and businesses around the world.