Article: Sale of the Year.(News)

Byline: Ken MacFadyen

For the past few years, the private equity community, with its right hand held high, pledged they weren't the same buy-and-burn financial engineers critics remembered from the eighties. Leverage was supposed to be just one tool that complemented buying right and driving operational improvements. While the asset class has taken its lumps in recent months, every once in a while an investment emerges that showcases everything the asset class is supposed to be about.

Odyssey Investment Partners' sale of Norcross Safety Products, a $1.2 billion deal that went to Honeywell International, was one of those transactions that lived up to the ...

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