p.1 #1 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
From the linked press release:
"Kodak Alaris announced today that Kingswood Capital Management, LP (“Kingswood”) has acquired the company from the United Kingdom Pension Protection Fund (“PPF”). Kingswood is a Los Angeles-based private equity firm focused on buyouts of middle-market businesses and has significant experience in driving value for consumer and industrial services businesses.
...
In a joint statement, Nicki Zongrone, President of Kodak Moments and John Blake, President of Kodak Alaris Business Unit, said, “The investment by Kingswood Capital is a clear endorsement of the enduring value of our offerings and a testament to our team’s hard work. We are delighted to have secured the backing of new owners who share our vision for the future of our business."
I'm not sure what this means for Kodak but hopefully, it's good.
p.1 #3 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
Does Kodak Alaris have any real IP left? Seems most of that went over to Kodak Professional.
I'm not sure what efficiency there is to be had in film and chem production that doesn't spell product cuts .
p.1 #4 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
It is a privately owned "equity firm"...cough cough. Usually these firms rape their acquisitions of their hard assets, and then sell the remains. Employees are considered collateral damage, and making a quick profit is the only goal. Usually they blather on about how this will improve things for everyone - you know, the old "win-win" BS. The "streamlining services and increase profits" smoke screen. I really have become a cynic, but if I were an employee in this deal - I would look for a new job.
p.1 #5 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
James Markus wrote:
It is a privately owned "equity firm"...cough cough. Usually these firms rape their acquisitions of their hard assets, and then sell the remains. Employees are considered collateral damage, and making a quick profit is the only goal. Usually they blather on about how this will improve things for everyone - you know, the old "win-win" BS. The "streamlining services and increase profits" smoke screen. I really have become a cynic, but if I were an employee in this deal - I would look for a new job.
Yeah any organization that has the words “capital management” in it’s title is just looking to make a quick buck off its acquisitions.
Maybe they will sell the colour film line to Fujifilm, seeing Fuji is already repackaging Kodak film as its own 200 and 400.
All of a sudden we will see Pro400H again…
p.1 #9 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
I believe the British pension plan only became an owner of the company since they had some rights in Kodak's big bankruptcy and were probably not really best suited to be owners/caretakers of the company. I believe they also sold a lot of the paper and processing chemicals business to a Chinese company. Since Fuji is also now outsourcing their consumer business to China, it wouldn't surprise me if that same company acquired the rest of Kodak's film business.
p.1 #10 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
Of course, one could be cynical but Kingswood pitches itself as helping businesses that are at "inflection points" and says it is providing Kodak with capital presumably to help expand and strengthen its operations. This could make sense if film is still seen as making a comeback. There is every sign that film still has some growth potential.
p.1 #11 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
Not really sure what there is to loot and liquidate in Alaris. Eastman makes the film and has all the IP for that. Chemicals business was sold off to SinoPromise and now belongs to Photo Systems.
All Alaris has left is the exclusive right to distribute consumer film under the Kodak brand, the right to license the Kodak brand for consumer goods (camera, T-shirts, etc), and the Kodak moments printer business.
Kingswood bills themselves as an operations focused PE firm, so probably not in the loot and burn business as much as other PE. "Operations" can mean everything from mass layoffs to big investment in company infrastructure so too soon to tell. Given there's not much to sell off, hopefully they'll invest in better operations, like keeping the film in stock instead of perpetually a third of the catalog being back ordered.
Their address is on their website, should I mail them my big ideas for high speed ektachrome?
p.1 #12 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
I wouldn't expect anything good to come out of this, because of the private equity reasons already mentioned.
Because this was a private deal, details are not so easy to find... does anyone know if this was a "leveraged buyout?" Because if so, I'd expect Kodak Alaris to collapse.
p.1 #13 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
oscartb wrote:
Not really sure what there is to loot and liquidate in Alaris. Eastman makes the film and has all the IP for that. Chemicals business was sold off to SinoPromise and now belongs to Photo Systems.
All Alaris has left is the exclusive right to distribute consumer film under the Kodak brand, the right to license the Kodak brand for consumer goods (camera, T-shirts, etc), and the Kodak moments printer business.
Kingswood bills themselves as an operations focused PE firm, so probably not in the loot and burn business as much as other PE. "Operations" can mean everything from mass layoffs to big investment in company infrastructure so too soon to tell. Given there's not much to sell off, hopefully they'll invest in better operations, like keeping the film in stock instead of perpetually a third of the catalog being back ordered.
Their address is on their website, should I mail them my big ideas for high speed ektachrome?...Show more →
When you mail them tell them to bring back Kodachrome .
p.1 #14 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
James Markus wrote:
It is a privately owned "equity firm"...cough cough. Usually these firms rape their acquisitions of their hard assets, and then sell the remains. Employees are considered collateral damage, and making a quick profit is the only goal. Usually they blather on about how this will improve things for everyone - you know, the old "win-win" BS. The "streamlining services and increase profits" smoke screen. I really have become a cynic, but if I were an employee in this deal - I would look for a new job.
Yes this often happens. Nevertheless, sometimes capital investment groups consider long term investment and keep the owned company intact - Leica Camera is an example. It is owned 55% by ACM and 45% owned by The Blackstone Group.
p.1 #15 · Kodak Alaris Announces Acquisition by Kingswood Capital Management
And of course Ilford's parent, Harman Technology, Ltd., was bought by Pemberstone Ventures Ltd. almost a decade ago and Ilford seems to be surviving if not thriving.
As a side note, I long incorrectly assumed that Harman Technology Ltd. was part of Harman International, which is a subsidiary of Samsung and has snatched up a lot of brands over the years, but Harman Technology Limited is not related at all and was named for Ilford's founder, Alfred Harman.
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