Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Businessweek Archives

Texas Pacific has great run with J Crew


? A deal about nothing |

Main

| Deal volume rises, but number of deals takes a dive ?

January 31, 2007

Texas Pacific has great run with J Crew

Steve Rosenbush

Private equity giant J Crew acquired apparel retailer J Crew for $390 million in 1997, according to market researcher Dealogic. Last year, J Crew sold 44% of the company to the public in an offering that valued the enterprise at $1.2 billion. Texas Pacific reduced its holdings in a secondary offering this week, but still retains a 36% stake in the company. The public portion of J Crew has a market cap of $2.1 billion. Texas Pacific made an astute move back in 1997 by hiring CEO Mickey Drexler away from The Gap. J Crew has prospered, so much so that Texas Pacific invested an additional $73 million in the operation last year. The Gap has been on the ropes and has ousted CEO Paul Pressler. A focus on strong management and long-term patient exit strategy have paid off for TPG.

05:37 PM

M&A

TrackBack URL for this entry:

http://blogs.businessweek.com/mt/mt-tb.cgi/


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus