Latest news with #GoldenGateCapital
Yahoo
5 days ago
- Business
- Yahoo
Hubbell to acquire DMC Power for $825m
US utility and electrical solutions provider Hubbell has signed a definitive agreement to acquire DMC Power, a portfolio company of Golden Gate Capital, for $825m in cash. DMC Power is a provider of connectors and tooling for utility substation and transmission markets. It designs and manufactures connector technology systems essential for high-voltage power infrastructure. The company has more than 350 employees across two manufacturing facilities in Carson, California, and Olive Branch, Mississippi, and multiple distribution facilities throughout North America. For 2026, DMC Power expects revenue of $130m with an earnings before interest, taxation, depreciation and amortisation forecast of $60m. Hubbell chairman, president and CEO Gerben Bakker stated: 'We are excited to add another high-growth, high-margin business to Hubbell's utility solutions portfolio. 'As load growth, datacentre buildouts and ageing infrastructure drive highly visible utility substation and transmission investment over the next several years, the acquisition of DMC Power expands Hubbell's strong presence in these attractive markets.' The transaction is expected to be finalised by the end of 2025 after meeting all necessary closing conditions, including regulatory approvals. To finance the acquisition, Hubbell intends to use a combination of cash and debt. Hubbell utility solutions president Greg Gumbs stated: 'DMC Power's swage connection system [a mechanical connection that joins two components, often pipes or tubes, by fitting one part tightly around the other] offers a strong complement to our existing substation and transmission connector solutions. 'This acquisition will deepen and broaden Hubbell's technology offering with our core customers, enabling fast, reliable buildout of substation infrastructure and datacentre interconnections while further accelerating our near and long-term growth profile.' The deal is anticipated to positively impact Hubbell's adjusted earnings per share from 2026. DMC Power CEO Tony Ward stated: 'I want to extend my thanks to our dedicated employees and customers whose commitment has driven DMC's success. As the pioneers behind swage technology for utilities, we are proud to have developed a world-class solution that is transforming the industry. 'By joining forces with Hubbell, we are confident that swage will accelerate its industry adoption and that our customers will continue to receive the high-quality service and solutions they have come to expect from DMC.' Financial advisory services for Hubbell were provided by Stephens, with legal counsel provided by Holland & Knight. Harris Williams and Lincoln International are acting as financial advisors to Golden Gate Capital, while Paul, Weiss, Rifkind, Wharton & Garrison is providing legal counsel. "Hubbell to acquire DMC Power for $825m" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
15-04-2025
- Business
- Yahoo
oneZero Recognized as Best FX Market Data and Analytics Provider for Asia Currencies in FX Markets Asia Awards 2025
BOSTON, April 15, 2025 /CNW/ -- oneZero, a global leader in multi-asset enterprise trading technology solutions, is proud to announce that it has been named Best FX Market Data and Analytics Provider for Asia Currencies in the FX Markets Asia Awards 2025. This prestigious recognition honors oneZero's continued investment in cutting-edge analytics and market data capabilities tailored to meet the demands of Asia-Pacific FX participants. oneZero's FX market data and analytics services are at the heart of its technology solution differentiation in Asia. Over the past 12 months, oneZero has made significant upgrades to these services as part of its drive to extend FX technology solutions for Asia currencies, focusing on growth in Japan and continued expansion across the broader APAC region. "Our ability to deliver high-quality, reliable FX market data and institutional-grade analytics is a key differentiator," said Alex Neo, oneZero's Sydney-based Chief Commercial Officer. "This award reflects the progress we've made over the past year to serve the region's evolving needs, particularly through enhancements to our analytics engine and data services that empower clients to operate with greater precision, transparency, and control." The FX Markets Asia Awards 2025 recognize excellence across the FX industry in Asia-Pacific, spanning 35 categories and celebrating firms demonstrating unique innovation and value to the region. oneZero's award-winning capabilities combine institutional-grade analytics with a robust infrastructure to offer clients transparency, precision, and performance—all while supporting regional growth through its Asia-Pacific headquarters in Sydney and five additional regional offices. Other recent milestones for oneZero include the investment from Golden Gate Capital and the acquisition of Autochartist, which reinforce oneZero's focus on strengthening and expanding its market data and dynamic analytics capabilities. The company's continued commitment to the global team and culture was also recognized for the second consecutive year with oneZero Australia's certification by Great Place To Work®. About oneZerooneZero Financial Systems has been a leading innovator in multi-asset class enterprise trading technology since 2009. Its powerful software encompasses the Hub, EcoSystem, and Data Source—three components that together provide a complete solution for execution, distribution, and analytics. OneZero empowers financial institutions and brokers to compete effectively in the global financial markets through reliable connectivity, technology, infrastructure, and market access through a globally compliant, liquidity-neutral solution. oneZero is certified to the standards of ISO 27001 information security management systems, and has development and operations centers in Asia, Australia, Europe, and North America. For more information, please contact:Talia GeberovichHead of Marketing and Communicationstgeberovich@ View original content to download multimedia: SOURCE oneZero Financial Systems View original content to download multimedia:
Yahoo
10-03-2025
- Business
- Yahoo
This Beloved Tex-Mex Chain Just Filed For Bankruptcy—Here's What's Happening
Fast-casual dining has taken a major hit this past year, with old favorites like Red Lobster, TGI Friday's and Buca di Beppo all experiencing bankruptcy woes. Add to the equation the constantly rising cost of goods and an overall decline in foot traffic and it becomes pretty clear that the restaurant industry as a whole is on the verge of some pretty big, albeit necessary changes. Next in line to unfortunately file for bankruptcy protections is Atlanta-based On the Border Mexican Grill & Cantina. The popular Tex-Mex restaurant chain officially filed with the federal bankruptcy court in northern Georgia on Tuesday, citing 'inflation' and 'changing customer behavior' as the reason for the inevitable bankruptcy filing. While the chain has already closed 40 locations as of last year, On the Border still operates 60 restaurants in 18 states. These locations are all expected to remain open during the entirety of the bankruptcy process, as well as franchisee locations, accounting for an additional 20 restaurants across the United States and South Korea. On the Border is owned by Atlanta-based investment firm Argonne Capital Group, which also happens to operate Applebee's, IHOP and Wingstop restaurants along with Planet Fitness and other franchises. Argonne Capital reportedly acquired On the Border back in 2014 from Golden Gate Capital, nearly 32 years after the Dallas-born restaurant was founded, in 1982. Over the years, On the Borders' famous Tex-Mex fare quickly grew to 166 locations through the early 2000s before selling to Golden Gate Capital in 2010. Related: Like many other restaurant chains, On the Border's sales began to decline during the 2008 recession, however the brand would go on to struggle even further during the years leading up to the 2020 pandemic. And while the chain experienced a rebound in sales in 2021 and 2022, the sales were back down by about 3-percent as of 2023. By that point, On the Border had already been reduced to 120 locations and never actually returned to its pre-pandemic sales and foot traffic numbers. As we mentioned before, On the Border is just one of many restaurant chains attempting to restructure its business for the future. And while the brands court filings have reported assets and liabilities totalling between $10 million and $50 million, nothing can change the fact that consumers' dining habits and inflation have been consistently changing the game for quite some time now. Up Next:
