Tuesday, August 28, 2012
Chicago Private Equity Firm Thoma Bravo Buying Deltek for $1.1 Billion
Chicago private equity firm Thoma Bravo, LLC has reached a deal to acquire Deltek, Inc., a leading global provider of enterprise software and information solutions for professional services firms and government contractors, in an all-cash transaction valued at approximately $1.1 billion.
Thoma Bravo is one of the two private-equity firms that spun out of Chicago-based buyout pioneer Golder Thoma & Co. It is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm has continued to apply the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth.
Thoma Bravo invests across multiple industries, with a particular focus in enterprise and infrastructure software and financial and business services, and works in partnership with management to implement its operating and consolidation expertise to build long-term value. The firm currently manages a series of private equity funds representing almost $4 billion of equity commitments. In software, Thoma Bravo has completed 54 add-on acquisitions across 23 platform companies with total annual earnings of approximately $1 billion.
Deltek’s stockholders will receive $13 in cash for each share of Deltek stock when the transaction closes. The $13 per share offer price represents a 7% discount to Deltek’s stock price on August 24, 2012 and a 24% premium over Deltek’s stock price on June 11, 2012 – the day before Deltek released information on the sales process to interested parties and their respective advisors on a confidential basis. The price represents a 14.6x multiple of enterprise value to Deltek’s trailing twelve months adjusted EBITDA as of June 30, 2012.
Deltek’s Board of Directors unanimously approved the definitive agreement for Deltek to be acquired by Thoma Bravo. Deltek’s largest shareholder, New Mountain Capital, has consented in favor of the acquisition. New Mountain Capital consented to the acquisition and holds 100% of Deltek’s Class A stock and 59.5% of the Company’s common stock. No further approval of Deltek’s stockholders is required to approve the transaction. An information statement will be mailed to the stockholders.
The transaction is anticipated to close during the fourth quarter of 2012. After the acquisition closes, Deltek will remain headquartered in Herndon, VA and will continue to be led by its existing senior management team. Deltek will also become a privately held company and its stock will no longer trade on the NASDAQ following the acquisition’s close.
Jefferies & Company, Inc. served as lead financial advisor to Thoma Bravo, and Jefferies Finance LLC and RBC Capital Markets provided financing commitments to the firm. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo.
Wednesday, August 22, 2012
SEO Training Classes to be Held in Chicago
CHICAGO, IL, August 21, 2012 /24-7PressRelease/ -- The Search Engine Optimization experts from Brick Marketing will be hosting full-day SEO Training Classes in Chicago, Illinois. Each Chicago SEO Training Class is designed for business owners and marketing professionals who are looking for a comprehensive overview of white hat SEO practices. Those who attend the classes will learn how major search engines operate as well as how to develop and manage an ongoing Search Engine Optimization program that works to increase website visitors and boost sales.
President and Founder of Brick Marketing, Nick Stamoulis, developed the Brick Marketing SEO workshops as a way to assist marketing professionals and small business owners who are responsible for their own Search Engine Optimization. "Many business owners cannot afford a full service SEO firm and have to handle their SEO and social media marketing alone on top of running their businesses on a daily basis," says Stamoulis. "The Chicago SEO Training Classes are designed to instruct business owners, marketing professionals, and even web designers from the Chicago area in white hat SEO best practices so they can learn how to build and maintain their own SEO strategies."
The SEO Training Classes are divided into a morning and afternoon session. A catered lunch will be served and is included with class registration. Both sections will be taught by one of Brick Marketing's SEO Specialists. The morning SEO session will cover Search Engine Optimization basics starting with how the major search engines operate and continuing with SEO topics such as optimizing websites with URL structure, H1 tags, and Meta Descriptions; competitive SEO keyword research; and content marketing. Class participants will also review case studies and real life examples of effective SEO strategies.
Following lunch, the afternoon SEO session will cover link building and how to conduct a link audit. Participants will learn the importance of developing an ongoing link building strategy that works build search engine trust. Additionally, the instructor will demonstrate how to integrate social media into an overall SEO strategy and will show attendees some of the many tools available that help to automate SEO and social media tasks. Participants will also learn how to measure the ROI and success of an SEO program. Compared to other full-day SEO training courses, the Chicago SEO Trainings are presented in a small classroom format.
Class registration is limited so that all attendees have the opportunity to interact directly with the SEO instructor. At the close of the workshop, each participant will receive an SEO website review of their site to kick start their SEO efforts. Brick Marketing will also provide physical copies of all materials covered in the day's lessons so that attendees can continue to develop their own SEO strategies specific to their business or organization. For additional information regarding the Chicago SEO Training Classes, including dates and registration, call Brick Marketing at 877-295-0620 or visit the Chicago SEO Training Class registration page at http://chicago-il-seo.eventbrite.com .
President and Founder of Brick Marketing, Nick Stamoulis, developed the Brick Marketing SEO workshops as a way to assist marketing professionals and small business owners who are responsible for their own Search Engine Optimization. "Many business owners cannot afford a full service SEO firm and have to handle their SEO and social media marketing alone on top of running their businesses on a daily basis," says Stamoulis. "The Chicago SEO Training Classes are designed to instruct business owners, marketing professionals, and even web designers from the Chicago area in white hat SEO best practices so they can learn how to build and maintain their own SEO strategies."
The SEO Training Classes are divided into a morning and afternoon session. A catered lunch will be served and is included with class registration. Both sections will be taught by one of Brick Marketing's SEO Specialists. The morning SEO session will cover Search Engine Optimization basics starting with how the major search engines operate and continuing with SEO topics such as optimizing websites with URL structure, H1 tags, and Meta Descriptions; competitive SEO keyword research; and content marketing. Class participants will also review case studies and real life examples of effective SEO strategies.
Following lunch, the afternoon SEO session will cover link building and how to conduct a link audit. Participants will learn the importance of developing an ongoing link building strategy that works build search engine trust. Additionally, the instructor will demonstrate how to integrate social media into an overall SEO strategy and will show attendees some of the many tools available that help to automate SEO and social media tasks. Participants will also learn how to measure the ROI and success of an SEO program. Compared to other full-day SEO training courses, the Chicago SEO Trainings are presented in a small classroom format.
Class registration is limited so that all attendees have the opportunity to interact directly with the SEO instructor. At the close of the workshop, each participant will receive an SEO website review of their site to kick start their SEO efforts. Brick Marketing will also provide physical copies of all materials covered in the day's lessons so that attendees can continue to develop their own SEO strategies specific to their business or organization. For additional information regarding the Chicago SEO Training Classes, including dates and registration, call Brick Marketing at 877-295-0620 or visit the Chicago SEO Training Class registration page at http://chicago-il-seo.eventbrite.com .
Tuesday, August 21, 2012
Chicago Retailer Mark Shale Files For Chapter 11 Bankruptcy
CHICAGO, Aug. 21, 2012 /PRNewswire/ -- Mark Shale, the Chicago-area high-end fashion retailer, announced today that it has filed a voluntary petition for Chapter 11 business reorganization in the U.S. Bankruptcy Court of the Northern District of Illinois.
Mark Shale's President Rich Myers said: "We have tried since Mark Shale was acquired to ensure the lasting success of this 83-year-old Chicago icon. The company has always sought to bring quality and outstanding service to high-end fashion. We are proud to have some of the most experienced and loyal employees in the business, from sales associates, to tailors, to warehouse staff, to buyers and managers.
"Unfortunately, in the current economic environment and despite our significant efforts over the past few years, we have concluded that a Chapter 11 filing was the Company's best alternative. We continue to seek a strategic partner to fortify the business. In the meantime, all three of our stores – at 900 N. Michigan Avenue, Oakbrook Center and Northbrook Court – will, as always, provide the highest level of service to our customers."
Founded in 1929, Mark Shale has been one of Chicago's premier providers of men's and women's clothing. Known for its extraordinary customer service and timeless clothing collections, Mark Shale has consistently been named one of the best stores in the United States by Esquire Magazine.
Mark Shale's President Rich Myers said: "We have tried since Mark Shale was acquired to ensure the lasting success of this 83-year-old Chicago icon. The company has always sought to bring quality and outstanding service to high-end fashion. We are proud to have some of the most experienced and loyal employees in the business, from sales associates, to tailors, to warehouse staff, to buyers and managers.
"Unfortunately, in the current economic environment and despite our significant efforts over the past few years, we have concluded that a Chapter 11 filing was the Company's best alternative. We continue to seek a strategic partner to fortify the business. In the meantime, all three of our stores – at 900 N. Michigan Avenue, Oakbrook Center and Northbrook Court – will, as always, provide the highest level of service to our customers."
Founded in 1929, Mark Shale has been one of Chicago's premier providers of men's and women's clothing. Known for its extraordinary customer service and timeless clothing collections, Mark Shale has consistently been named one of the best stores in the United States by Esquire Magazine.
Monday, August 20, 2012
Mayor Emanuel and Governor Quinn Announce SalesForce.com is Expanding Chicago Office
Mayor Rahm Emanuel and Governor Pat Quinn today announced that salesforce.com is creating 200 jobs as it expands into a new facility in River North. The global software company has leased more than 100,000 square feet at 111 W. Illinois where it will base its Midwest corporate sales office and join the region's growing hub of technology firms.
“Salesforce.com is the world’s most innovative company according to Forbes Magazine and a great example of a cutting-edge company that is rapidly expanding,” said Mayor Rahm Emanuel. “The company has a vibrant, thriving, and growing presence downtown, and exemplifies the sort of company that will carry Chicago’s business community forward in the 21st century.”
“Creating jobs is our top priority, and the expansion of companies like salesforce.com is good news for the Illinois economy,” Governor Quinn said. “Illinois’ high-tech industry is growing fast, and we will continue to create the jobs of the future.”
“I’d like to thank Governor Quinn and Mayor Emanuel for their support as salesforce.comgrows its operations in Chicago,” said George Hu, COO, salesforce.com. “The Chicago area’s incredibly talented workforce is a perfect match for our fast paced and innovative culture.”
With more than 100,000 customers, salesforce.com is the enterprise cloud computing company that is leading the shift to the social enterprise. Social enterprises leverage social, mobile and open cloud technologies to connect with customers and employees in entirely new ways. The company has been named to FORTUNE Magazine’s “100 Best Companies to Work For” list for four consecutive years.
For the last year, World Business Chicago has worked with Salesforce.com to help the company deal with the City of Chicago, including informing the company about new potential pools of employees. World Business Chicago is focused on working with Chicago-based businesses to solve their talent and real estate needs, while driving forward Chicago’s economy in key areas.
Under the company’s agreement with the state of Illinois, salesforce.com will be eligible for tax credits tied to increasing its workforce. The state’s targeted investment package, estimated at approximately $10.4 million, includes Economic Development for a Growing Economy (EDGE) tax credits, which are based on jobs and distributed over a period of 10 years, and training grants through the Employer Training Investment Program (ETIP). The Illinois Department of Commerce and Economic Opportunity (DCEO) will administer the package.
“Salesforce.com is the world’s most innovative company according to Forbes Magazine and a great example of a cutting-edge company that is rapidly expanding,” said Mayor Rahm Emanuel. “The company has a vibrant, thriving, and growing presence downtown, and exemplifies the sort of company that will carry Chicago’s business community forward in the 21st century.”
“Creating jobs is our top priority, and the expansion of companies like salesforce.com is good news for the Illinois economy,” Governor Quinn said. “Illinois’ high-tech industry is growing fast, and we will continue to create the jobs of the future.”
“I’d like to thank Governor Quinn and Mayor Emanuel for their support as salesforce.comgrows its operations in Chicago,” said George Hu, COO, salesforce.com. “The Chicago area’s incredibly talented workforce is a perfect match for our fast paced and innovative culture.”
With more than 100,000 customers, salesforce.com is the enterprise cloud computing company that is leading the shift to the social enterprise. Social enterprises leverage social, mobile and open cloud technologies to connect with customers and employees in entirely new ways. The company has been named to FORTUNE Magazine’s “100 Best Companies to Work For” list for four consecutive years.
For the last year, World Business Chicago has worked with Salesforce.com to help the company deal with the City of Chicago, including informing the company about new potential pools of employees. World Business Chicago is focused on working with Chicago-based businesses to solve their talent and real estate needs, while driving forward Chicago’s economy in key areas.
Under the company’s agreement with the state of Illinois, salesforce.com will be eligible for tax credits tied to increasing its workforce. The state’s targeted investment package, estimated at approximately $10.4 million, includes Economic Development for a Growing Economy (EDGE) tax credits, which are based on jobs and distributed over a period of 10 years, and training grants through the Employer Training Investment Program (ETIP). The Illinois Department of Commerce and Economic Opportunity (DCEO) will administer the package.
Illinois CPA Society's 32nd Annual Midwest Accounting & Finance Showcase Provides Innovative Answers for the Ever-Evolving Business Landscape
CHICAGO, Aug. 20, 2012 --
/PRNewswire-USNewswire/ -- Global business challenges, healthcare reform
and cloud computing are just some of the current issues that will be
tackled at the Illinois CPA Society's Midwest Accounting & Finance
Showcase, being held Tuesday, August 28 and Wednesday, August 29. One of
the largest CPA events in the country, the Showcase is expected to
attract over 2,100 attendees to the Donald E. Stephens Convention Center
in Rosemont, Illinois.
This two-day event offers accounting and
finance professionals the opportunity to hear from leading experts and
discover innovative solutions to their most pressing challenges.
Attendees can choose from over 30 educational sessions on topics ranging
from buying and selling a practice to going mobile to financial
reporting. Industry-leading keynote speakers will share their insights
into the ever-evolving business landscape, including sessions on:
The Illinois CPA Society is providing free access to the Exhibit Hall – a $25 value – but registration is required. To register for a free Exhibit Hall Pass, visit www.icpas.org to access the Showcase page. For only $290, attendees can register for the two-day pass and receive up to 16 hours of quality Continuing Professional Education (CPE) with free access to the Exhibit Hall.
For more information or to register for the 32nd Annual Midwest Accounting & Finance Showcase, visit www.icpas.org or call 800.993.0393. For the latest news and updates on the Showcase follow ICPAS on Twitter @IllinoisCPA and look for hashtag #ICPASShow.
About the Illinois CPA Society The Illinois CPA Society, founded in 1903, is the fourth largest state CPA Society in the nation, with more than 24,000 members. It is the premier professional organization that represents CPAs in Illinois. During its over 100 years of existence, the Society has advanced the highest ethical and financial standards of the profession, and has been a leader in educating the public on financial issues.
SOURCE Illinois CPA Society
- State of the CPA Profession – James P. Jones, CPA, Chairperson, Illinois CPA Society Board of Directors and Executive Vice President, Chief Operating and Financial Officer, Edward Don & Company and Elaine Weiss, President & CEO, Illinois CPA Society
- How to Ensure You Are Future Ready – Teresa Mackintosh, Executive Vice President & General Manager of Tax, CCH Tax and Accounting, North America
- Technology Futures - 2012 – Dana "Rick" Richardson, Technology Futurist & President, Richardson Media & Technologies, LLC
- Expansion versus Austerity: 2012 Financial Markets Outlook – Jack Ablin, Chief Investment Officer, BMO Harris Private Bank
The Illinois CPA Society is providing free access to the Exhibit Hall – a $25 value – but registration is required. To register for a free Exhibit Hall Pass, visit www.icpas.org to access the Showcase page. For only $290, attendees can register for the two-day pass and receive up to 16 hours of quality Continuing Professional Education (CPE) with free access to the Exhibit Hall.
For more information or to register for the 32nd Annual Midwest Accounting & Finance Showcase, visit www.icpas.org or call 800.993.0393. For the latest news and updates on the Showcase follow ICPAS on Twitter @IllinoisCPA and look for hashtag #ICPASShow.
About the Illinois CPA Society The Illinois CPA Society, founded in 1903, is the fourth largest state CPA Society in the nation, with more than 24,000 members. It is the premier professional organization that represents CPAs in Illinois. During its over 100 years of existence, the Society has advanced the highest ethical and financial standards of the profession, and has been a leader in educating the public on financial issues.
SOURCE Illinois CPA Society