Mirus Capital Advisors Serves as Advises Novations on Management Buy-Out; Investment Banking Firm Locates Financing that Enables U.S.-based Management Training Firm to Spin Off from Japanese Parent Company.BOSTON -- Mirus Capital Advisors, a middle-market investment bank, announced today that it has advised Novations Group, Inc., a leading provider of consulting and training services to global organizations, and its parent company, Drake Beam Morin-Japan, on the sale of Novations to an investor group lead by the firm's U.S. management team. Headquartered in Boston, MA, Novations was formed in 2002 following a number of acquisitions by Drake Beam Morin-Japan, Inc., the largest outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. firm in Japan. Mirus Capital Advisors began its in engagement with Novations in 2005 and advised the Company on several divestitures before seeking financing for the management buy-out buy·out also buy-out n. 1. The purchase of the entire holdings or interests of an owner or investor. 2. The purchase of a company or business: . The management buy-out was initiated by Michael C. Hyter, President and COO of Novations Group. "From the beginning of the management buy-out process, I hoped to work with an advisor who would be mindful mind·ful adj. Attentive; heedful: always mindful of family responsibilities. See Synonyms at careful. mind of our interests as 'management' along with the interest of the seller," said Hyter. "Mirus' exceeded my expectations in this area. Given the fact that this was a new process for me and my management team, we greatly appreciated the effort our investment bankers Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. put into helping us become properly prepared. Everything pretty much played out the way they advised us that it would." Mirus Capital Advisors identified prospective investors, advised the management team on strategy, structured a transaction acceptable to both management and DBM-J, and negotiated the deal terms with MCG mcg microgram. mcg abbr. microgram mcg microgram. mcg Microgram, see there; the preferred written abbreviation is µg Global LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a private equity firm from Westport, CT, and Webster Bank Webster Bank is a bank based based out of Waterbury, Connecticut. It is the largest Connecticut based bank and the 42nd largest in the United States. History Webster was founded in 1935 by Harold Webster Smith. N.A. out of Stamford. "Novations has a strong track record in key specializations as well as a roster of blue-chip client organizations," said S. Garrett Stonehouse in a press release. Mr. Stonehouse is a principal and co-founder of MCG Global and will serve as Chairman of Novations' Board of Directors. "Novations is a great brand with extremely talented people and MCG has the skills and experience to leverage the firm's strengths." About Mirus Capital Advisors Mirus Capital Advisors provides investment banking solutions to corporate clients in the areas of software, online media, business services and niche manufacturing. Founded in 1987, Mirus provides advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. Additional information about the firm is available at http://www.merger.com. |
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