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Private Equity

Bloomberg, Koch Top List Of Wealthiest New Yorkers On Forbes 400 Bloomberg, Koch Top List Of Wealthiest New Yorkers On Forbes 400
Bloomberg, Koch Top List Of Wealthiest New Yorkers On Forbes 400 It’s great to be Michael Bloomberg. The billionaire businessman and former New York City mayor once again ranks as the wealthiest New Yorker on the Forbes 400 list of America's richest people. Bloomberg, 83, is listed at No. 13 overall with a net worth of $109 billion. The Bloomberg LP founder also scored high for philanthropy, earning a 4 out of 5 on Forbes’ giving scale. Julia Koch and family, tied to Koch Industries, follow close behind at No. 16 with $81.2 billion. Koch, 63, received a philanthropy score of 2. Collectively, the nation’s wealthiest are worth a record $6.6 trillion, up…
Subway Hires Former Burger King Executive As CEO To Revitalize Shelton-Based Chain Subway Hires Former Burger King Executive As CEO To Revitalize Shelton-Based Chain
Subway Hires Former Burger King Executive As CEO To Revitalize Shelton-Based Chain The nation's largest fast-food chain has picked a former Burger King executive as its new CEO. Jonathan Fitzpatrick will become Subway's chief executive on Monday, July 28, the sandwich company announced in a news release on Monday, July 21. He'll take the role left by John Chidsey, who retired in late 2024 after leading Subway through a $9.6 billion sale to Roark Capital and overseeing several years of steep US restaurant closings. Fitzpatrick was most recently the CEO and president of Driven Brands, an automotive services provider also owned by Roark. "I'm honored to lead this …
Trendy Hot Chicken Chain Started In Parking Lot Sold After Passing $600M Sales Mark Trendy Hot Chicken Chain Started In Parking Lot Sold After Passing $600M Sales Mark
Trendy Hot Chicken Chain Started In Parking Lot Sold After Passing $600M Sales Mark A private equity giant is buying a hot chicken restaurant chain that grew from a parking lot to an international brand that's very popular on TikTok. Roark Capital has purchased a majority stake in Dave's Hot Chicken, the restaurant said in a news release on Monday, June 2. Dave's said the sale will help the Los Angeles-based chain grow to more than 400 restaurants worldwide by the end of 2025. The company said it'll remain committed to delivering an "exceptional experience" for customers, employees, and franchise partners. "This is one of the great entrepreneurial journeys …
Skechers Sold In $11B Deal As Trump's Tariffs Raise Worries For Shoemakers Skechers Sold In $11B Deal As Trump's Tariffs Raise Worries For Shoemakers
Skechers Sold In $11B Deal As Trump's Tariffs Raise Worries For Shoemakers A private equity firm will purchase Skechers as President Donald Trump's sweeping tariffs create growing uncertainty for US footwear companies. 3G Capital will buy Skechers for what could be worth up to $11 billion, the shoemaker announced in a news release on Monday, May 5. Once finalized, the deal will make Skechers private and it'll be delisted from the New York Stock Exchange. Skechers, which is the third-largest footwear brand globally behind Nike and Adidas, will continue to be led by CEO Robert Greenberg and president Michael Greenberg. The company's headquarters will remai…
Shelton-Based Subway Closing Hundreds Of Restaurants Yearly, Aims For 'Smart Growth' Shelton-Based Subway Closing Hundreds Of Restaurants Yearly, Aims For 'Smart Growth'
Shelton-Based Subway Closing Hundreds Of Restaurants Yearly, Aims For 'Smart Growth' The largest fast-food chain in the US is rapidly losing restaurants. Subway closed 631 locations in 2024, QSR Magazine reported on Tuesday, April 29. The sandwich giant ended the year with 19,502 restaurants nationwide – the lowest count in nearly 20 years. The Shelton, Connecticut-based company has shuttered about 7,616 locations in the US since peaking in 2015 with more than 27,000 restaurants. 2024 also marked Subway's largest yearly decline since it lost 1,043 locations in 2021. Despite mass closings, Subway remains the biggest restaurant brand in the US. Starbucks …
Crozer Health Closure Sparks Emergency Declaration In Chester: 'Where Will Our Patients Go?' Crozer Health Closure Sparks Emergency Declaration In Chester: 'Where Will Our Patients Go?'
Crozer Health Closure Sparks Emergency Declaration In Chester: 'Where Will Our Patients Go?' A health crisis is unfolding in Delaware County, where officials and caregivers are pleading for intervention as Prospect Medical moves to shut down Crozer Health. Crozer Health’s hospitals and facilities, including Crozer-Chester Medical Center and Taylor Hospital, are set to close within 30 days, the company announced on Monday, April 21. Emergency departments at both hospitals will stop accepting patients starting Wednesday, April 23, Prospect Medical officials confirmed. That closure prompted Chester Mayor Stefan Roots to declare a state of emergency on Tuesday, April 22, allowing the c…
Body Of NYC Financier Washed Ashore In Spain Weeks Ago – But Desperate Family Kept Searching Body Of NYC Financier Washed Ashore In Spain Weeks Ago – But Desperate Family Kept Searching
Body Of NYC Financier Washed Ashore In Spain Weeks Ago – But Desperate Family Kept Searching A New York City banker who vanished during a sailing trip to Spain earlier this year was found dead – though his desperate family continued searching for weeks before getting the devastating news. Grant Barr, 37, disappeared on Tuesday, Jan. 28, while visiting friends and family in Estepona, a coastal town along Spain’s Costa del Sol. The discovery of his passport, boating license, and pants near a beach that same day sparked a desperate search. But on Monday, April 7, Barr’s father, Michael Carr, shared devastating news on Facebook: “It is with profound sadness that I speak of the passing…
Governor Shapiro Faces Uphill Battle Against Private Equity In PA Healthcare Governor Shapiro Faces Uphill Battle Against Private Equity In PA Healthcare
Governor Shapiro Faces Uphill Battle Against Private Equity In PA Healthcare Pennsylvania Governor Josh Shapiro declared in his recent budget address: “I am done letting private equity (PE) treat Pennsylvania like a piggybank they can empty out and smash on the floor.” As a physician who has experienced the turmoil of a PE takeover, I applaud the governor's plan to scrutinize these acquisitions through the attorney general’s office. PE firms often drain resources from medical practices, nursing homes, and hospitals, leaving patients without adequate care. However, the fight won’t be easy. PE firms wield significant financial influence, which even affects national me…
CT's Newest Jersey Mike's Supporting Rockville HS With Special Fundraiser CT's Newest Jersey Mike's Supporting Rockville HS With Special Fundraiser
CT's Newest Jersey Mike's Supporting Rockville HS With Special Fundraiser A new sandwich shop in Vernon will use its grand opening to help out the town's high school. Jersey Mike’s Subs will open its new location on Wednesday, Jan. 29, the company said in a news release. The restaurant will be at 35 Talcottville Road in the Tri-City Plaza shopping center. Vernon native Cody Martins said he's "beyond excited" to own and operate the shop. "I started at Jersey Mike's ten years ago as a crew member and, with the incredible support of our CEO Peter Cancro, I have worked my way up to opening my own business," said Martins. "I look forward to not only se…
Manasquan-Based Jersey Mike’s Sells Majority Stake To Blackstone, Aiming For 'Greater Heights' Manasquan-Based Jersey Mike’s Sells Majority Stake To Blackstone, Aiming For 'Greater Heights'
Manasquan-Based Jersey Mike’s Sells Majority Stake To Blackstone, Aiming For 'Greater Heights' Jersey Mike’s Subs, a Garden State icon that grew into a national sandwich powerhouse, is set to sell a majority stake to private equity giant Blackstone, officials said. The Manasquan-based restaurant chain has agreed to sell the stake in the company, Blackstone said in a news release on Tuesday, Nov. 19. Jersey Mike’s founder and CEO Peter Cancro will keep a significant equity share and continue leading the business. When he was 14 years old, Cancro began working at the original location in Point Pleasant that opened as Mike's Subs in 1958. At 17, he bought the restaurant in 1975 and…
Big Lots To Shut These New Jersey Stores: Closing Sales Under Way Big Lots To Shut These New Jersey Stores: Closing Sales Under Way
Big Lots To Shut These New Jersey Stores: Closing Sales Under Way Big Lots! has announced the closures of even more locations since filing for bankruptcy in September. The company announced on Monday, Sept. 9 that it will sell its assets to an affiliate of private equity firm Nexus Capital Management. Additional closures were approved this month in bankruptcy court.  New Jersey has 27 stores, and 13 of them are set to close with closing sales underway. They are: Cherry Hill, 949 Church Road Dover, 550 Mount Pleasant Avenue East Brunswick, 275 Route 18 Freehold, 220 Trotters Way Glassboro, 811 N Delsea Drive Jersey Ci…
CNN News Anchor From Shrewsbury Announces Husband's Death In Heartbreaking Post CNN News Anchor From Shrewsbury Announces Husband's Death In Heartbreaking Post
CNN News Anchor From Shrewsbury Announces Husband's Death In Heartbreaking Post Alisyn Camerota, A CNN anchor from Fairfield County, CT and with New Jersey roots is mourning the loss of her husband, she announced in a heartbreaking post on social media. Camerota, who was born in Shrewsbury, NJ said on Friday, Sept. 20 on Instagram that her husband, Tim Lewis, died on July 27, 2024 — two years after being diagnosed with Stage 4 pancreatic cancer. Lewis' obituary on the Harding Funeral Home website says that he and Camerota live in Westport, CT. "I cannot imagine any human being soldiering through a devastating diagnosis with more humor, humility and bravery than Tim," …
Big Lots Files For Bankruptcy As List Of Store Closures Expands To 10 In NY Big Lots Files For Bankruptcy As List Of Store Closures Expands To 10 In NY
Big Lots Files For Bankruptcy As List Of Store Closures Expands To 10 In NY Discount retail chain Big Lots has filed for bankruptcy as its list of planned store closures expands. It currently has around 1,425 stores nationwide. The company announced on Monday, Sept. 9 that it will sell its assets to an affiliate of private equity firm Nexus Capital Management. In announcing initial store closures late in late July, Big Lots said a bankruptcy filing could be coming. Stores in the Northeast now slated for closure are as follows: New York Delaware Avenue, Buffalo South Ogden Street, Buffalo Route 5 & 20, Canandaigua  Voice Road, Carle Place Centereach …
$1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds $1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds
$1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds A New York resident was one of two CEOs convicted in federal court of a $1 billion fraud scheme involving thousands of investors. Long Island resident David Gentile, age 57, of Manhasset, and Jeffry Schneider, age 55, of Austin, Texas, were found guilty in federal court on all counts of an indictment charging them with conspiracy to commit securities fraud, conspiracy to commit wire fraud, and securities fraud. Gentile, the owner and CEO of GPB Capital Holdings, was also convicted on two counts of wire fraud. The verdict came after an eight-week trial. When sentenced on Thursd…
Five Maryland Billionaires Make Forbes 400 List Of 'Richest In America' Five Maryland Billionaires Make Forbes 400 List Of 'Richest In America'
Five Maryland Billionaires Make Forbes 400 List Of 'Richest In America' Maryland is home to five of the richest people in America, according to Forbes. In the last year, two have made money, two have lost money, and one is brand-new to the list. The residents on the Forbes 400, the definitive list of the richest people in the nation, are worth $4.5 trillion in total, tying the 2021 record, according to the business outlet. The Maryland billionaires on the list are: 161. Annette Lerner & family, of Chevy Chase, are new to the list, and are worth $6.5 billion. According to Forbes, in 1952, Lerner, now 93 years old, lent $250 to her 26-year-old husband, Ted…
Five Virginia Billionaires Make Forbes 400 List Of 'Richest In America' Five Virginia Billionaires Make Forbes 400 List Of 'Richest In America'
Five Virginia Billionaires Make Forbes 400 List Of 'Richest In America' Virginia is home to five of the richest people in America, according to Forbes. And four of them have only gotten richer. The residents on the Forbes 400, the definitive list of the richest people in the nation, are worth $4.5 trillion in total, tying the 2021 record, according to the business outlet. The Virginia billionaires on the list are: 19. Jacqueline Mars, of The Plains, Fauquier County. Mars is an American heiress and investor whose net worth is $38.9 billion. She is 83 years old 76. Pamela Mars, fourth generation of the Mars family who is worth $9.7 billion. She is 63 years old…
CT-Based Subway Announces Sale: Company Has 'Bright Future,' CEO Says CT-Based Subway Announces Sale: Company Has 'Bright Future,' CEO Says
Ct-based Subway Announces Sale: Company Has 'Bright Future,' CEO Says The iconic sandwich seller Subway, which is headquartered in Connecticut, has announced its sale to a private equity firm.  The New Haven County-based fast food company, which is headquartered in Milford, announced that it will be acquired by affiliates of Roark Capital on Thursday, Aug. 24.  In a statement, Subway officials said the sale would be a "major milestone" in the company's history. "This transaction reflects Subway's long-term growth potential, and the substantial value of our brand and our franchisees around the world," said Chief Executive Officer John Chid…
Five Virginia Residents Named To Forbes List Of Richest In America Five Virginia Residents Named To Forbes List Of Richest In America
Five Virginia Residents Named To Forbes List Of Richest In America Five Virginia residents were named to the 2022 Forbes list of the 400 richest people in America. The nation's wealthiest citizens are worth $4 trillion — $500 billion less than last year, Forbes said. The minimum net worth required to make the list also fell for the first time since the Great Recession, by $200 million, to $2.7 billion. The wealthiest man in the country is Elon Musk, who is worth $251 billion, and the second wealthiest is Jeff Bezos, who is worth $151 billion. Fortunes were calculated on Sept. 2 using stock prices and exchange rates. The Virginians who…
Ex-CEO From Region Sentenced For $58 Million Fraud Ex-CEO From Region Sentenced For $58 Million Fraud
Ex-ceo From Region Sentenced For $58 Million Fraud The founder and former chief executive officer of a private equity investment firm in the region will be sent to prison in connection with a securities scheme in which federal authorities say he fraudulently induced hundreds of individuals to invest a total of approximately $58 million in two real estate funds. Fairfield County resident Eric Malley, age 51, of New Canaan was sentenced to five years in prison on Thursday, Dec. 2. In addition to the prison term, Malley was sentenced to three years of supervised release and ordered to make restitution in the amount of $33,249,822.12 and …