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Private Equity
cfb.com

Investments

35

Portfolio Exits

5

Funds

5

Partners & Customers

1

About Capital For Business

Capital For Business is a national private equity investment firm focused on providing capital to middle-market businesses with proven management teams and a high potential for growth. The firm invests in companies across a wide range of niche consumer, commercial, distribution, manufacturing, and service markets throughout the United States.

Headquarters Location

Eleven South Meramec Suite 1330

Saint Louis, Missouri, 63105,

United States

(314) 746-7427

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Latest Capital For Business News

Fosun Receives RMB12 Billion Syndicated Loan to Consolidate Capital for Business Development

Jan 17, 2023

HONG KONG, Jan 17, 2023 - (ACN Newswire) - On 16 January 2023, Fosun High Technology, the domestic operating entity of Fosun International Limited ("Fosun International", HKEX: 00656), and eight domestic banks held a syndicated loan signing ceremony at the Bund Finance Center, Shanghai. According to the agreement, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications as joint lead banks, and China Minsheng Bank, the Export-Import Bank of China, and Shanghai Pudong Development Bank, and as participating banks will jointly form a syndicate to provide Fosun High Technology a loan totaling RMB12 billion. It is reported that this is the largest private enterprise loan led by five major state-owned banks in cooperation with policy banks and joint-stock banks since the Central Economic Work Conference explicitly proposed in mid-December last year to encourage and support the development of the private economy and private enterprises. The market is generally in the view that the syndicated loan is not only of great significance to Fosun, but it also plays a positive role in improving public expectations and boosting confidence for development for private enterprises in Shanghai and even the entire country. According to the Company's official release, Guo Guangchang, Chairman of Fosun International said that this signing has further deepened the cooperation between Fosun and banks, broadened financing channels, and consolidated liquidity support for business development. Before the RMB12 billion syndicated loan was officially completed, on 13 January, Fosun High Technology successfully completed bookbuilding for the RMB1 billion super & short-term commercial paper "23 Fosun High Technology SCP001" with a term of 180 days and a coupon rate of 6.99% per annum. The super & short-term commercial paper is Fosun High Technology's first issuance since its return to the public market at the end of April 2022. Market analyst pointed out that the successful issuance of the super & short-term commercial paper and the smooth completion of more than RMB10 billion syndicates loan reflect financial institutions and investors' confidence in the stabilization of Fosun's capital and their endorsement of Fosun's strategy of streamlining the organization and focusing on its core businesses. Over the past six months or so, Fosun's series of divestment actions in the capital market have gained widespread attention. During the period, companies under Fosun significantly reduced their shareholdings in Nanjing Iron and Steel United, Jianlong, Zhaojin Mining, Tsingtao Brewery, Jinhui Liquor, Zhongshan Public Utilities, Sanyuan, and COFCO Engineering & Technology. According to incomplete statistics, Fosun's accumulative return of capital has reached tens of billions of yuan. In addition to this syndicated loan and the super & short-term commercial paper, Fosun's capital has been further consolidated. In recent years, Fosun proposed to position itself as a global innovation-driven consumer group. In the past six months or so, Fosun has significantly accelerated its pace of focusing on its core businesses in the family-oriented consumer sector. Based on recent positive news, it can be seen that this strategic adjustment has already achieved results, and Fosun's Health, Happiness, Wealth and other family-oriented consumer sectors have shown a strong recovery momentum. Taking Fosun Tourism Group in the Happiness segment as an example, on the New Year's Day this year, Atlantis Sanya, FOLIDAY Town Lijiang and other businesses have all performed better than the same period in 2022, and many Club Med resorts in China recorded close to 100% occupancy. In the global market, Club Med's bookings in the first half of 2023 have greatly exceeded the same period in 2019 before the COVID-19 epidemic. Regarding Fosun Pharma in the Health segment, its anti-epidemic vaccine and drug continue to attract great attention. COMIRNATY, including the monovalent COVID-19 mRNA vaccine (BNT162b2) and the bivalent vaccine which can protect against the Omicron variant, was officially registered as a drug/product (biological product) in Hong Kong SAR on 20 December 2022. Fosun Pharma has also opened up vaccinations to people including Mainland Chinese residents. As regards Azvudine, the oral medication for COVID-19, it is now included in the medical insurance scheme in 31 provinces, municipalities, and autonomous regions across the country, and is available in grassroots medical institutions in many provinces. The accessibility of Azvudine has been greatly enhanced. Based on its solid financial performance and strong potential for rebound, domestic and overseas securities firms have recently issued research reports, assigning Fosun International an "overweight" rating. On 12 January, Nomura Orient International Securities published a research report and mentioned that Fosun International currently has sufficient cash flow, the short-term liquidity problem has been resolved, the future leverage ratio is expected to be reduced, and the capital structure will continue to be optimized; at the operational level, Fosun will firmly focus on its core businesses in the family-oriented consumer sector. With the continuous optimization of China's epidemic prevention policy, the firm expects Fosun to achieve better performance. Previously, China International Capital Corporation (CICC) and China Industrial Securities have published research reports successively and expressed optimism about Fosun's strategy of streamlining the organization and focusing on its core businesses. "In the medium and long term, we believe that the valuation method of Fosun International is expected to gradually shift from using the NAV of the group to using the PE of the large consumer company. As a result, Fosun is expected to usher in a rise in the central level of long-term valuation," CICC mentioned in the research report.

Capital For Business Investments

35 Investments

Capital For Business has made 35 investments. Their latest investment was in Partner Communications & Services as part of their Series A on June 6, 2000.

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Capital For Business Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/9/2000

Series A

Partner Communications & Services

$11.3M

Yes

5/23/2000

Series A

Quick Study Radiology

$8M

Yes

12/30/1999

Convertible Note

OCG

$2.4M

No

Capital For Business, Hickory Venture Group, and Undisclosed Angel Investors

1

8/11/1999

Unattributed VC - II

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$99M

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0

12/7/1998

Series A

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$99M

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10

Date

6/9/2000

5/23/2000

12/30/1999

8/11/1999

12/7/1998

Round

Series A

Series A

Convertible Note

Unattributed VC - II

Series A

Company

Partner Communications & Services

Quick Study Radiology

OCG

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Amount

$11.3M

$8M

$2.4M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Capital For Business, Hickory Venture Group, and Undisclosed Angel Investors

Sources

1

0

10

Capital For Business Portfolio Exits

5 Portfolio Exits

Capital For Business has 5 portfolio exits. Their latest portfolio exit was Standard Miether on November 30, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/30/2022

Acq - Fin

$99M

2

12/17/2013

Acq - Fin

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$99M

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10

6/28/2013

Acq - Fin - II

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$99M

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10

7/1/1998

Merger

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$99M

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0

9/22/1997

Acquired

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$99M

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0

Date

11/30/2022

12/17/2013

6/28/2013

7/1/1998

9/22/1997

Exit

Acq - Fin

Acq - Fin

Acq - Fin - II

Merger

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

0

0

Capital For Business Acquisitions

15 Acquisitions

Capital For Business acquired 15 companies. Their latest acquisition was AirWorx Construction Equipment & Supply on July 01, 2016.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

7/1/2016

Debt

$99M

$0.68M

Acq - Fin

1

8/18/2015

Debt

$99M

$0.68M

Acq - Fin

1

3/24/2014

$99M

Leveraged Buyout

1

4/26/2013

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$99M

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10

3/1/2013

Debt

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$99M

$99M

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10

Date

7/1/2016

8/18/2015

3/24/2014

4/26/2013

3/1/2013

Investment Stage

Debt

Debt

Debt

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$0.68M

$0.68M

$99M

Note

Acq - Fin

Acq - Fin

Leveraged Buyout

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Sources

1

1

1

10

10

Capital For Business Fund History

5 Fund Histories

Capital For Business has 5 funds, including CFB Venture Fund LP - Series IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2005

CFB Venture Fund LP - Series IV

Late-Stage Venture Capital

Closed

$25M

1

12/31/2001

CFB Venture Fund LP - Series III

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$99M

10

7/31/1998

CFB Emerging Business Fund

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$99M

10

2/1/1993

CFB Venture Fund II LP

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$99M

10

12/31/1982

CFB Venture Fund I Inc

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$99M

10

Closing Date

12/31/2005

12/31/2001

7/31/1998

2/1/1993

12/31/1982

Fund

CFB Venture Fund LP - Series IV

CFB Venture Fund LP - Series III

CFB Emerging Business Fund

CFB Venture Fund II LP

CFB Venture Fund I Inc

Fund Type

Late-Stage Venture Capital

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Status

Closed

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Amount

$25M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Capital For Business Partners & Customers

1 Partners and customers

Capital For Business has 1 strategic partners and customers. Capital For Business recently partnered with Talkaphone on January 1, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

1/4/2018

Partner

United States

1

Date

1/4/2018

Type

Partner

Business Partner

Country

United States

News Snippet

Sources

1

Capital For Business Team

6 Team Members

Capital For Business has 6 team members, including current Chief Executive Officer, James F O'Donnell.

Name

Work History

Title

Status

James F O'Donnell

Chief Executive Officer

Current

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Name

James F O'Donnell

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Work History

Title

Chief Executive Officer

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Status

Current

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