Purchase
In December of 2006, Nixon was acquired by Billabong International for approximately US$55 million and a deferred payment of approximately US$76 million in FY 2012.
During the spring of 2012, after six years under the Billabong umbrella of brands, Nixon once again became an independent brand. Nixon established an agreement with Trilantic Capital Partners (“TCP”) and Billabong, each of which now owns a 48.5% stake in the brand, with the balance 3% held by Nixon management, including Laats and DiNenna. The resulting transaction values Nixon at approximately US$464 million, representing a multiple of approximately 9.2x LTM EBITDA.
Read more about this topic: Nixon Watches
Famous quotes containing the word purchase:
“Blessed assurance, Jesus is mine!
O what a foretaste of glory divine!
Heir of salvation, purchase of God,
born of the Spirit, washed in Christ’s blood.”
—Fanny J. Crosby (1820–1915)
“When thou, poor Excommunicate
From all the joys of love, shalt see
The full reward and glorious fate
Which my strong faith shall purchase me,
Then curse thine own inconstancy!”
—Thomas Carew (1589–1639)
“We are told to maintain constitutions because they are constitutions, and what is laid down in those constitutions?... Certain great fundamental ideas of right are common to the world, and ... all laws of man’s making which trample on these ideas, are null and void—wrong to obey, right to disobey. The Constitution of the United States recognizes human slavery; and makes the souls of men articles of purchase and of sale.”
—Anna Elizabeth Dickinson (1842–1932)