Thread Number: 742
Selling price of vacuum companies

[Down to Last]

[Back to Index]

Post# 7471-1/5/2007-16:17 ||| Rexairman (Hudson, NC)

We all know that The Hoover Company recently sold for $70 million. Nearly 10 years ago Joe Urso and his associates bought Electrolux from Sara Lee for $55 million, and immediately turned around and sold the rights to the Electrolux name to AB Electrolux for $50 million, resuliting in a net purchase price of $5 million. and that 3 years ago Rexair CEO Paul Vidovich, with the aid of investment bankers Rhone Capital Investment Group bought 70% of Rexair, Inc. from parent Jacuzzi Brands for $170 million (meaning 100% of Rexair would be worth $243 million). Makes you wonder..... Of course the first two companies were in decline from their once glorious past, and the third had reported 300 consecutive months of increased sales.