|Date||Status||Stake Acquired||Deal Price||Deal Types||Currencies Used|
|March 2005||Completed||100%||$6,600,000,000||Leveraged Buyout (LBO), Take Private||Cash|
|Enterprise Value (EV)||$6,600,000,000|
|Financials for Target: Toys "R" Us||Transaction Multiples||Transaction Multiples w/ Max. Contingency|
|Total Assets||N/A||EV / A||EV / A|
|Stockholder's Equity||N/A||EV / SE||EV / SE|
|Revenues||N/A||EV / R||EV / R|
|Net Income (Loss) 2005||$252,000,000||EV / E||26.2x||EV / E|
|Cash Flow||N/A||EV / CF||EV / CF|
|EBITDA||N/A||EV / EBITDA||EV / EBITDA|
|Operating Income (Loss)||N/A||EV / OI||EV / OI|
|A group of investors, led by buyout specialist firm KKR, have bought Toys "R" Us, Inc. The terms of the deal include the investor group to acquire all outstanding shares. Also the result of the deal will make Toys "R" Us, Inc. private.|
|Business Description for Target: Toys "R" Us|
Founded in 1948 by Charles Lazarus, Toys "R" Us, Inc. is one of the world's largest toy retailers, with 585 namesake stores in the US and over 900 stores abroad. Its product portfolio includes toys, games, infant and toddler apparel, furniture, and feeding supplies. Toys "R" Us is headquartered in Wayne, New Jersey. Formerly public, Toys "R" Us was taken private though a leveraged buyout by private equity firms Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co., and Vornado Realty Trust. On May 28, 2010, Toys "R" Us filed for an IPO with the SEC.
|Business Description for Buyer: Kohlberg Kravis Roberts & Co. L.P. (KKR)|
Kohlberg Kravis Roberts & Co. L.P. (KKR) is a New York, New York-based private equity firm. Founded in 1976, Kohlberg Kravis Roberts & Co. L.P. (KKR) considers buyouts and acquisitions and restructurings and special situations.
|Business Description for Buyer: Bain Capital, Inc.|
Bain Capital, Inc. is a Boston, Massachusetts-based private equity firm. Founded in 1984, at first affiliated with the major management consulting firm Bain & Co., Bain Capital, Inc. considers seed investments as well as restructurings, special situations, buyouts and acquisitions, though Bain Capital's typical investments are in late stage cash flow positive companies, including middle market to large cap take-private transactions. Among Bain Capital's notable alumni are a founding partner, former Massachusetts Governor Mitt Romney. Bain Capital was long ago spun off as an independent investment firm by Bain & Co. Bain Capital has long been known for its outsize returns to investors, as well as for charging higher fees than most private equity competitors. Bain Capital made investors take fees of 30% of gains (above a minmum "hurdle rate" of 10%), as well as an annual management fee of 2% of all money invested. In 2011, Bain Capital began to lower its fees, beginning with a new Asia focused fund. Investors were offered one of two choices, both resulting in lower fees than Bain Capital previously had demanded. Option 1 was to pay just 20% of the fund's profits (after a 7% annual hurdle rate) plus a 2% annual management fee, or Option 2 was to pay Bain Capital 30% of the fund's investment gains, with an annual management fee of just 1% (after a 10% annual hurdle rate).