Misplaced Pages

#989010

21-460: Original designs for the tower included seven floors of above-ground parking. Plans for the above-ground parking levels were removed in 1998 to add space for what was originally to be a movie theater operated by Act III Theaters . The building earned Gold Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council in 2012 for its sustainability. The building

42-577: A majority stake in trendy luxury shoemaker Jimmy Choo . Disposals during the year included the company's remaining stake in Yell and its stake in Premier Foods. In May 2005, Sturm Foods was acquired by HM Capital Partners. Located in Manawa, Wisconsin, Sturm Foods specializes in the manufacturing of bulk goods such as oatmeal and markets several sugar-free products under private labels. Hicks Muse struggled in

63-574: Is located on the second floor. The 462-space underground parking garage was the deepest in Portland when built. In 2006 the Fox Tower's developer, Tom Moyer, started construction of an underground garage on the block to the west, connected to the Fox Tower garage. This new parking structure opened in December 2007 making the total underground parking space count 1132. Because the west block lies slightly uphill from

84-417: Is most notable for the contrast between its curving east side and boxy west side. The juxtaposition of the building's angles create a unique profile from each side. This multiplanar and set-back design is meant to prevent as much of the building's shadow as possible from falling upon Pioneer Courthouse Square on the opposite corner. The ground floor houses retail stores, and Regal's Fox Tower 10 movie theater

105-533: The Pacific Northwest , Act III acquired Oregon and Washington theaters then owned by Cineplex Odeon in 1992. KKR acquired Act III Theatres in October 1998 for $ 323 million plus the assumption of $ 338 million in debt. The price represents and estimated 11.2x trailing cash flow and 8.8x pro forma cash flow. EBITDA for the group was $ 59 million for the 12 months ended December 31, 1996. At 11.2x trailing earnings,

126-565: The Premier Foods stable. Cereal maker Weetabix Limited and Unilever 's cast-offs Ambrosia (creamed rice and puddings) and Brown & Polson, rounded out Premier Foods' portfolio in 2003. Acquisitions in 2004 included Kerns Oil & Gas (renamed Blackbrush Energy -- natural gas production), Persona (Canadian cable television company), Regency Gas Services (gas processing and distribution), and Centennial Puerto Rico Cable TV (Puerto Rican cable television company). It also agreed to buy

147-567: The 1990–92 recession, Boston Ventures placed a value on Act III Theatres of 4-5x cash flow while advising majority owner Norman Lear. Simultaneously, Boston Ventures was seeking to acquire various Act III assets. The website for Act III Theatres at the Wayback Machine (archived December 30, 1996) Hicks Muse HM Capital Partners was a private equity firm in the United States that specialized in leveraged buyouts . The firm

168-647: The Fox Tower, the west garage is deeper than the Fox Tower garage, relative to ground level. The new garage is an underground facility, with a City of Portland park on top of the garage. Construction and landscaping for the park was started by the City of Portland in March 2008. The underground parking is also planned to be connected to the Park Avenue West Tower . [REDACTED] Media related to Fox Tower at Wikimedia Commons Act III Theaters Act III Theatres

189-678: The US's largest theater chain, Regal Cinemas . Regal filed for bankruptcy protection in 2001. The company that year also moved into the depressed energy field (Triton Energy) and formed a $ 1.5 billion European fund. They also invested $ 400 million into Teligent, Inc., a fixed wireless telecommunications carrier. Teligent filed for bankruptcy in 2001 and is now defunct. Acquisitions in 1999 included UK food group Hillsdown Holdings, one-third of Mexican flour maker Grupo Minsa, and (just in time for millennial celebrations) popular champagne brands Mumm and Perrier-Jouët (it quadrupled its investment when it sold

210-516: The acquisition of Act III represented one of the highest valuations ever paid for a chain of movie theaters. Later in 1998, KKR combined its theater operations with the United Artists Theatres held by Hicks Muse and together they acquired Regal Cinemas , creating what is today the largest chain of cinemas in the United States (which operates under the Regal name). In 1990, during the height of

231-830: The champagne houses in late 2000). Lured by low stock prices on real estate investment trusts (REITs), the company agreed to buy Walden (formerly Walden Residential Properties) that year. Hicks Muse, along with UK-based Apax Partners , bought British Telecom 's yellow page directory business Yell Group for roughly $ 3.5 billion, making it the largest non-corporate LBO in European history. Yell subsequently acquired US directories publisher McLeodUSA for about $ 600 million, and floated in 2003. Hicks Muse acquired Nestlé 's Ambient Food Business in 2002, which added well-known UK brands Crosse & Blackwell , Branston Pickle , Chivers ( marmalade ), Sun-Pat ( peanut butter ), Gale's ( honey ), Sarson's ( vinegar ) and Rowntree's ( jelly ) to

SECTION 10

#1732851937990

252-624: The country's largest insurers. That year it also brought International Home Foods (Jiffy Pop, Chef Boyardee ) into the Hicks Muse fold. In 1997 Chancellor and Evergreen Media merged to form Chancellor Media (renamed AMFM in 1999). The next year Hicks Muse continued buying US and Latin American media companies, as well as a few oddities (a UK software maker, a Danish seed company, and US direct-seller Home Interiors and Gifts ). Hicks Muse and Kohlberg Kravis Roberts merged their cinema operations to form

273-413: The next year that firm bought Hicks Communications , a radio outfit run by Hicks' brother Steven . (This would be the first of several media companies bought or created by the buyout firm that involved Steven Hicks.) Hicks & Haas' biggest coup was its mid-1980s acquisition of several soft drink makers, including Dr Pepper and 7 Up . The firm took Dr Pepper/7 Up public just 18 months after merging

294-639: The peak of the 1990s stock market bubble as well as several traditional buyouts that ended in bankruptcy (e.g., Regal Cinemas , Viasystems Group, International Wire. Tom Hicks resigned from Hicks Muse at the end of 2004 and was replaced at the helm by co-founder John Muse. Hicks would go on to found Hicks Holdings LLC. Charles Tate resigned from Hicks Muse in 2002. In January 2005, the company's European arm, separated from Hicks Muse to form Lion Capital LLP , which has since raised over $ 4 billion across two private equity funds . In March 2006, Hicks Muse Tate & Furst changed its name to HM Capital reflecting

315-909: The two companies. In all, Hicks & Haas turned an $ 88 million investment funding into $ 1.3 billion. The pair split up in 1989; Hicks wanted to raise a large pool to invest, but Haas preferred to work deal by deal. Robert Haas went on to form Haas Wheat & Partners a middle market private equity firm based in Dallas. Hicks raised $ 250 million in 1989 and teamed with former Prudential Securities banker John Muse to form Hicks Muse. Early investments included Life Partners Group ( life insurance , 1990; sold 1996). In 1991 Morgan Stanley 's Charles Tate and First Boston 's Jack Furst became partners. As part of its buy-and-build strategy, Hicks Muse bought DuPont 's connector systems unit in 1993, renamed it Berg Electronics, added six more companies to it, and doubled its earnings before selling it in 1998. Not every acquisition

336-421: The years immediately following the bursting of the internet and telecom bubbles was often cited with Forstmann Little as the highest profile private equity casualties, having invested heavily in technology and telecommunications companies. The firm's reputation and market position were both damaged by the loss of over $ 1 billion from minority investments in six telecommunications and 13 Internet companies at

357-456: Was $ 150 million. Subsequent to the acquisition of Luxury Theaters, the company's headquarters was relocated from San Antonio to Portland. Other chains acquired by Act III included Presidio Theaters in Austin. Following the acquisition of Presidio, Act III consolidated its market position by buying AMC's theaters in Austin, creating the dominant theater circuit in that city. To grow its footprint in

378-680: Was an American company that owned movie theater multiplexes and screens principally located in the U.S. states of Texas , Oregon and Washington . The company was in business from 1986 to 1997, when it was sold to Kohlberg Kravis Roberts (KKR). Television producer Norman Lear owned a controlling stake in Act III Theatres through his company Act III Communications . At the time of sale in 1997, Act III Theaters consisted of 124 multiplex theaters operating 793 screens located primarily in San Antonio and Austin , Texas and Portland, Oregon , and

399-434: Was previously known as Hicks, Muse, Tate & Furst . It was founded in 1989 by Tom Hicks and John Muse as Hicks, Muse & Co. and was changed in 1994 to reflect the roles of Charles Tate and Jack Furst. The son of a Texas radio station owner, Tom Hicks became interested in leveraged buyouts as a member of First National Bank's venture capital group. Hicks and Robert Haas formed Hicks & Haas in 1984;

420-492: Was successful for Hicks Muse. Less-than-successful purchases included bankrupt brewer G. Heileman Brewing Company of La Crosse, Wisconsin , bought in 1994 and sold two years later for an almost $ 100 million loss. The buyout firm's Chancellor Media radio company went public in 1996. That year Hicks Muse gained entry into Latin America with its purchases of cash-starved Mexican companies, including Seguros Commercial America, one of

441-600: Was the tenth-largest chain of cinemas in the United States. Act III Theatres was launched in 1986 with the acquisition of Santikos Theatres in San Antonio. Scott C. Wallace, then a senior executive at AMC Theatres , brought the idea to Act III Communications' president Tom McGrath , having received a waiver from his current employer to pursue the transaction. The group expanded in 1988 by acquiring Luxury Theaters in Portland from Tom Moyer . Luxury Theaters consisted of 87 cinemas operating 293 screens. The purchase price

SECTION 20

#1732851937990
#989010