Reports out of the UK have the private equity firm The Carlyle Group looking to sell The Foundry. The asking price? Up to £200 million ($300 million US).
The Foundry has generated a lot of news in 2014. What will 2015 bring? It could bring news of a sale.
The Carlyle Group acquired a majority stake in The Foundry back in 2011. The Carlyle Group is said to want to realize its investment of the company by the middle of next year.
The news prompted a few comments on The Foundry’s forum. It further elicited a response from Brad Peebler, president of the Americas at The Foundry. (He assumed that role over two years ago after the partnership between The Foundry and Luxology, the company he had founded.)
“The companies that embrace change and chase after it are the ones that evolve. Or die! But that’s the exciting part of the ride,” he states.
Peebler begins by pointing out that people are usually afraid of change, but change is inevitable. “The companies that embrace change and chase after it are the ones that evolve. Or die! But that’s the exciting part of the ride,” he states.
Peebler continues, pointing out that when owned by a private equity firm, the only certainty is that an "exit" will happen. “It's the natural progression of the business relationship,” he writes. “So what about the news that Carlyle is going to sell The Foundry? Point of fact is that this is what private equity does, and so it is natural for us all to assume that one day Carlyle will sell their shares.”
He points out that The Foundry has been sold before, and emerged bigger and stronger. “Indeed, one day there will be a new major stockholder in The Foundry and they will have made a very wise investment indeed. As have you, our loyal customers. Change can be scary but one thing that hasn’t changed is our commitment to being open and honest with you. Now, let’s enjoy the ride shall we?”