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Article Excerpt
Empire Investment Holdings ("Empire"), a private investment firm, announced that its portfolio company, Polyester Fibers, has completed the carve-out process from Leggett & Platt ("L&P"). Empire and L&P entered into a twelve (12) month transition services agreement, which included services related to accounting, treasury, logistics, IT, global services and the use of L&P's manufacturing resource planning (MRP) and financial application. It is common for Empire to acquire businesses that lack certain essential elements that form a standalone enterprise.
A critical component to assessing this acquisition was an understanding of the various limitations resulting from an incomplete management team and the lack of a...
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