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(Revised from original 2002 version)
Brazos Partners: the CoMark LBO
The partners of a new midmarket buyout fund are working on a buyout of a closely held modular building company. Although originally structured as a stock deal, they have realized that an asset deal would be preferable from their point of view and are trying to determine what benefits it might hold for the sellers, whose continuing involvement in the company is essential for success. This case describes the process of the deal's due diligence and the state of the LBO industry in the early 21st century.
Keywords: Leveraged Buyouts;
Lerner, Josh, G. Felda Hardymon, and Ann Leamon. "Brazos Partners: the CoMark LBO." Harvard Business School Case 202-090, February 2004. (Revised from original February 2002 version.)