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ARAMARK INVESTMENT CLOSESJanuary 26, 2007—ARAMARK Corporation (NYSE: RMK), a world leader in providing professional services, announced the completion of the merger in which ARAMARK has been acquired by an investor group led by Joseph Neubauer, Chairman and Chief Executive Officer of ARAMARK, and investment funds managed by GS Capital Partners, CCMP Capital Advisors and J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC. Approximately 250 ARAMARK senior managers will also invest in the transaction. “We are pleased to complete this transaction,” said Neubauer, who will remain Chairman and Chief Executive Officer of ARAMARK. “I am particularly grateful for the support we have received from our people who have worked hard to deliver outstanding performance over many years, and our senior managers who will further dedicate themselves by making a significant investment in the company. “This merger opens a new and exciting chapter in ARAMARK’s history. The new structure will enable us to fully unleash the company’s potential. Today, we are positioned to drive greater innovation, pursue strategic opportunities, and build sophisticated, long-term solutions that deliver the most value for our clients and customers around the world. “As we invest in new strategies that will define the future of our industry, we will continue to build on our heritage of delivering value to our employees, our partners, our clients and our customers. We remain dedicated to providing outstanding experiences, environments and outcomes each and every day for our clients around the world.” On August 8, 2006, ARAMARK announced that it had signed a definitive merger agreement under which the private investor group would acquire ARAMARK in a transaction valued at approximately $8.3 billion, including the assumption or repayment of approximately $2.0 billion of debt. On December 20, 2006, ARAMARK held a special meeting of its stockholders, at which 86 percent of the outstanding votes and 97 percent of the votes actually cast voted in favor of the adoption of the merger agreement. Under the terms of the agreement, ARAMARK shareholders are entitled to receive $33.80 in cash for each share of ARAMARK common stock held. ARAMARK common stock will cease trading on the New York Stock Exchange at market close on Friday, January 26, 2007, and will no longer be listed. ARAMARK stockholders whose shares are held in book entry at Mellon Investor Services, ARAMARK’s transfer agent, will receive cash for their shares from Mellon Investor Services, which also will serve as the paying agent. ARAMARK stockholders who possess physical stock certificates will receive instructions and a letter of transmittal by mail from Mellon Investor Services concerning how and where to forward their certificates for payment. For shares held in “street name” by a broker, bank or other nominee, stockholders will not need to take any action to have shares converted into cash, as this should be done by the broker, bank or other nominee. Questions about the deposit of merger proceeds should be directed to the appropriate broker, bank or other nominee. About ARAMARK ARAMARK is a leader in professional services, providing award-winning food services, facilities management, and uniform and career apparel to health care institutions, universities and school districts, stadiums and arenas, and businesses around the world. In FORTUNE magazine's 2006 list of "America's Most Admired Companies," ARAMARK was ranked number one in its industry, consistently ranking since 1998 as one of the top three most admired companies in its industry as evaluated by peers and industry analysts. The company was also ranked first in its industry in the 2006 FORTUNE 500 survey. Headquartered in Philadelphia, ARAMARK has approximately 240,000 employees serving clients in 18 countries. Learn more at the company's Web site, www.aramark.com. SOURCE: ARAMARK Corporation Back to Press Releases |
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The historical information presented may reflect the activities of the professionals of CCMP Capital Advisors, LLC (together with its affiliates, “CCMP Capital”) while they were members of J.P. Morgan Partners, LLC ("JPMP"), a private equity division of JPMorgan Chase & Co. prior to CCMP Capital's commencing operations. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to purchase any investments or securities of any investment vehicles. © 2008 CCMP CAPITAL ADVISORS, LLC. All rights reserved. |
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