Tag:

Private Equity

Manasquan-Based Jersey Mike’s Sells Majority Stake To Blackstone, Aiming For 'Greater Heights' Manasquan-Based Jersey Mike’s Sells Majority Stake To Blackstone, Aiming For 'Greater Heights'
Manasquan-Based Jersey Mike’s Sells Majority Stake To Blackstone, Aiming For 'Greater Heights' Jersey Mike’s Subs, a Garden State icon that grew into a national sandwich powerhouse, is set to sell a majority stake to private equity giant Blackstone, officials said. The Manasquan-based restaurant chain has agreed to sell the stake in the company, Blackstone said in a news release on Tuesday, Nov. 19. Jersey Mike’s founder and CEO Peter Cancro will keep a significant equity share and continue leading the business. When he was 14 years old, Cancro began working at the original location in Point Pleasant that opened as Mike's Subs in 1958. At 17, he bought the restaurant in 1975 and…
Big Lots To Shut These New Jersey Stores: Closing Sales Under Way Big Lots To Shut These New Jersey Stores: Closing Sales Under Way
Big Lots To Shut These New Jersey Stores: Closing Sales Under Way Big Lots! has announced the closures of even more locations since filing for bankruptcy in September. The company announced on Monday, Sept. 9 that it will sell its assets to an affiliate of private equity firm Nexus Capital Management. Additional closures were approved this month in bankruptcy court.  New Jersey has 27 stores, and 13 of them are set to close with closing sales underway. They are: Cherry Hill, 949 Church Road Dover, 550 Mount Pleasant Avenue East Brunswick, 275 Route 18 Freehold, 220 Trotters Way Glassboro, 811 N Delsea Drive Jersey Ci…
CNN News Anchor From Shrewsbury Announces Husband's Death In Heartbreaking Post CNN News Anchor From Shrewsbury Announces Husband's Death In Heartbreaking Post
CNN News Anchor From Shrewsbury Announces Husband's Death In Heartbreaking Post Alisyn Camerota, A CNN anchor from Fairfield County, CT and with New Jersey roots is mourning the loss of her husband, she announced in a heartbreaking post on social media. Camerota, who was born in Shrewsbury, NJ said on Friday, Sept. 20 on Instagram that her husband, Tim Lewis, died on July 27, 2024 — two years after being diagnosed with Stage 4 pancreatic cancer. Lewis' obituary on the Harding Funeral Home website says that he and Camerota live in Westport, CT. "I cannot imagine any human being soldiering through a devastating diagnosis with more humor, humility and bravery than Tim," …
Big Lots Files For Bankruptcy As List Of Store Closures Expands To 10 In NY Big Lots Files For Bankruptcy As List Of Store Closures Expands To 10 In NY
Big Lots Files For Bankruptcy As List Of Store Closures Expands To 10 In NY Discount retail chain Big Lots has filed for bankruptcy as its list of planned store closures expands. It currently has around 1,425 stores nationwide. The company announced on Monday, Sept. 9 that it will sell its assets to an affiliate of private equity firm Nexus Capital Management. In announcing initial store closures late in late July, Big Lots said a bankruptcy filing could be coming. Stores in the Northeast now slated for closure are as follows: New York Delaware Avenue, Buffalo South Ogden Street, Buffalo Route 5 & 20, Canandaigua  Voice Road, Carle Place Centereach …
$1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds $1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds
$1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds A New York resident was one of two CEOs convicted in federal court of a $1 billion fraud scheme involving thousands of investors. Long Island resident David Gentile, age 57, of Manhasset, and Jeffry Schneider, age 55, of Austin, Texas, were found guilty in federal court on all counts of an indictment charging them with conspiracy to commit securities fraud, conspiracy to commit wire fraud, and securities fraud. Gentile, the owner and CEO of GPB Capital Holdings, was also convicted on two counts of wire fraud. The verdict came after an eight-week trial. When sentenced on Thursd…
Five Maryland Billionaires Make Forbes 400 List Of 'Richest In America' Five Maryland Billionaires Make Forbes 400 List Of 'Richest In America'
Five Maryland Billionaires Make Forbes 400 List Of 'Richest In America' Maryland is home to five of the richest people in America, according to Forbes. In the last year, two have made money, two have lost money, and one is brand-new to the list. The residents on the Forbes 400, the definitive list of the richest people in the nation, are worth $4.5 trillion in total, tying the 2021 record, according to the business outlet. The Maryland billionaires on the list are: 161. Annette Lerner & family, of Chevy Chase, are new to the list, and are worth $6.5 billion. According to Forbes, in 1952, Lerner, now 93 years old, lent $250 to her 26-year-old husband, Ted…
Five Virginia Billionaires Make Forbes 400 List Of 'Richest In America' Five Virginia Billionaires Make Forbes 400 List Of 'Richest In America'
Five Virginia Billionaires Make Forbes 400 List Of 'Richest In America' Virginia is home to five of the richest people in America, according to Forbes. And four of them have only gotten richer. The residents on the Forbes 400, the definitive list of the richest people in the nation, are worth $4.5 trillion in total, tying the 2021 record, according to the business outlet. The Virginia billionaires on the list are: 19. Jacqueline Mars, of The Plains, Fauquier County. Mars is an American heiress and investor whose net worth is $38.9 billion. She is 83 years old 76. Pamela Mars, fourth generation of the Mars family who is worth $9.7 billion. She is 63 years old…
CT-Based Subway Announces Sale: Company Has 'Bright Future,' CEO Says CT-Based Subway Announces Sale: Company Has 'Bright Future,' CEO Says
Ct-based Subway Announces Sale: Company Has 'Bright Future,' CEO Says The iconic sandwich seller Subway, which is headquartered in Connecticut, has announced its sale to a private equity firm.  The New Haven County-based fast food company, which is headquartered in Milford, announced that it will be acquired by affiliates of Roark Capital on Thursday, Aug. 24.  In a statement, Subway officials said the sale would be a "major milestone" in the company's history. "This transaction reflects Subway's long-term growth potential, and the substantial value of our brand and our franchisees around the world," said Chief Executive Officer John Chid…
Five Virginia Residents Named To Forbes List Of Richest In America Five Virginia Residents Named To Forbes List Of Richest In America
Five Virginia Residents Named To Forbes List Of Richest In America Five Virginia residents were named to the 2022 Forbes list of the 400 richest people in America. The nation's wealthiest citizens are worth $4 trillion — $500 billion less than last year, Forbes said. The minimum net worth required to make the list also fell for the first time since the Great Recession, by $200 million, to $2.7 billion. The wealthiest man in the country is Elon Musk, who is worth $251 billion, and the second wealthiest is Jeff Bezos, who is worth $151 billion. Fortunes were calculated on Sept. 2 using stock prices and exchange rates. The Virginians who…
Ex-CEO From Region Sentenced For $58 Million Fraud Ex-CEO From Region Sentenced For $58 Million Fraud
Ex-ceo From Region Sentenced For $58 Million Fraud The founder and former chief executive officer of a private equity investment firm in the region will be sent to prison in connection with a securities scheme in which federal authorities say he fraudulently induced hundreds of individuals to invest a total of approximately $58 million in two real estate funds. Fairfield County resident Eric Malley, age 51, of New Canaan was sentenced to five years in prison on Thursday, Dec. 2. In addition to the prison term, Malley was sentenced to three years of supervised release and ordered to make restitution in the amount of $33,249,822.12 and …
Meet The 2 NJ Men Competing On Michelle Young's Season Of 'The Bachelorette' Meet The 2 NJ Men Competing On Michelle Young's Season Of 'The Bachelorette'
Meet The 2 NJ Men Competing On Michelle Young's Season Of 'The Bachelorette' More eligible bachelors from New Jersey's will be joining Bachelor Nation. ABC franchise "The Bachelorette" on Monday morning revealed the 35 contestants competing on 28-year-old Michelle Young's season. The two from New Jersey are Olumide Onajide, 28, of Woodland Park, and Eric Tai, 25, of Bridgewater, NJ.  Onajide played basketball for Rutgers and works as a field systems analyst at OTG Management while Tai graduated UNC Chapel Hill in 2018, and works in private equity. Young a former basketball player herself, made it to hometown dates and competed on Matt James' season of "The Bachelo…
Death Of Devon Dalio In Fiery Crash Ruled Accidental, Medical Examiner Says Death Of Devon Dalio In Fiery Crash Ruled Accidental, Medical Examiner Says
Death Of Devon Dalio In Fiery Crash Ruled Accidental, Medical Examiner Says The death of Devon Dalio, who died in a fiery car crash into a retail store in Fairfield County, has been categorized as accidental by the state Office of the Chief Medical Examiner. Dalio, age 42, the son of billionaire hedge fund investor Ray Dalio died of smoke inhalation and thermal injuries on Thursday, Dec. 17, the M.E.’s office said Friday, Jan. 22. The office said no other information would be released regarding the crash. The crash took place at the Riverside Commons Shopping Center located at 1233 East Putnam Ave., in Greenwich when Dalio's 2016 Audi, drove over the parking strip…