leonard green

What Private-Equity Firms and Vampires Have In Common

You may think that when private-equity firms buy troubled companies, their plan for making a profit is to fix them up, then resell them. But often, the heart of their plan is to load the companies up with debt, siphon hundreds of millions of dollars out of them, and stick the next set of investors with the bill.

Jo-Ann Stores to Be Purchased for $1.6 Billion

News that Jo-Ann Stores has agreed to be acquired by an affiliate of private-equity firm Leonard Green & Partners for about $1.6 billion has sent shares of the craft retailer soaring 33% in premarket trading.