 J.W.
Childs has sold its portfolio company, IDF Holdings, Inc.,
to H.J. Heinz
July
2000 – Kerlin
acted as the financial advisor to J.W. Childs in the sale
of its portfolio company, IDF Holdings,
Inc. to H.J Heinz. IDF is a leading custom developer and
producer of specialty flavorings and other food products
for quick service
restaurants, food processing companies and food service distributors.
IDF had experienced operating problems prior to 1999 and
was in the process of engineering a financial turnaround.
The $135
million valuation that was developed with Heinz was based
on the identified synergies and was 8.0 times adjusted pro
forma
EBITDA.
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