RE:RE:RE:RE:RE:RE:Harvard Biz School case study...with emphasis on BS nedstar71 wrote: Mithaq would have fit right in here based on their investment in Childrens Place (PLCE). Apparently lighting money on fire is something both teams have in common.
And worth noting, I'm guessing that's where much of Aimia's money would have went right down the drain if Mithaq had gained control. Seems like they have their hands full with that one and have taken over the board. Tough to sort out the news with 30 or so pages of class action firms clogging the news feed.
Sigh. Jokers to the left of me, jokers to the right...
It seems that Paladin Private Equity is defunct. Or, at least, it has lost 2 of its 3 employees. Both Eric Hauser and Paladin CFO David Joyce have jumped ship to start a new firm called Somera Private Equity.
https://someraprivateequity.com/
I wonder if they got the idea for the annoying animated graphic on their landing page from Aimia. According to Linkedin, Eric still sits on the boards of Tufropes and Bozzetto.
I'm still perplexed how Aimia managed to partner with this tiny firm on two big deals --- their *only* deals --- in short order. The investment deck for the Tufropes acquisition talks about Paladin as if they were a real firm, explicitly referring to them as a "hands on" partner with "global investing experience". Paladin only had 3 employees and got two seats on Tufropes BOD for heaven's sake!!
Maybe Phil and team measured Paladin only by their own flowery self assessment. Here's what Eric & David say about their new firm.
About Somera Somera Private Equity is a Los Angeles-based private equity firm focused on partnering with entrepreneurs, founders, and management teams to preserve unique competitive advantages and unlock asymmetric growth potential. As a fundamental investment philosophy, Somera seeks market leading businesses with sustainable competitive advantages, proven cash flow generation and multi-vectored growth opportunities. Somera can flexibly deploy capital across multiple industries and stages of investment, but principally focuses on middle-market control investments within the industrial technology and business services sectors. At its core, Somera believes in a people-first investment approach, utilizing its world-class network to offer bespoke support for companies to achieve their goals.