Investcorp sells US firm to Credit Suisse First Boston
Global investment company Investcorp has signed a definitive agreement for the sale of Jostens, the US maker of commemorative school products such as high school yearbooks and class rings, to Credit Suisse First Boston's private equity division.
Investcorp and its investors acquired Jostens in 2000. This sale, after three years ownership, will provide an attractive return for Investcorp and its investors.
"We are very pleased with the outcome of our three-year investment in Jostens,” said Investcorp Management Committee Member and General Manager of the firm's Bahrain office, Salman Abbasi. “The company has fulfilled the potential we saw when we invested in it, convincingly achieving its strategic objectives and thus providing a favorable return to our investors”.
Investcorp is a global investment group with offices in the Kingdom of Bahrain, London and New York. The firm has four lines of business: corporate investment, real estate investment, asset management and technology investment. It was established in 1982 and has since completed transactions with an aggregate value of approximately $20 billion. — (menareport.com)
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