Monday 22 January 2018

Stage Capital is selling STI Group

Or has sold it. 'These things take time, boss. It's not like selling a pair of jeans in a shop. There's lots of paperwork and that.' Yeah, well, it's not my problem, Voice. I once sold a saxophone. This stupid kid came without the right money, but I wanted to get rid of the saxophone, so I let him have it. 'Oh.' Yeah, and another time I sold a guitar, and the guy wanted to give me a cheque. 'Ha! What did you say?' I said, Give me cash, man! 'Ha! Nice one!' / Anyway ...

Stage Capital ("Stage"), the private equity and real estate investor backed by funds managed by Goldman Sachs Asset Management and Glendower Capital (previously Deutsche Bank Private Equity), is pleased to announce the signing of the sale of STI Group to a consortium of private equity firms Merieux Developpement and GIMV.

STI?! Doesn't that sound a bit dodgy? 'It does a bit, boss.' Yeah, but it's their funeral, ain't it? What do we care?

Oh, by the way, dear reader(s), I'm listening to Gordon Lightfoot's The Complete Greatest Hits. Twenty songs, but I only recognize three of them: Early Morning Rain, Sundown, and the awesome If You Could Read My Mind. He's obviously very talented, but ... 'What's your point, boss?' My point, muppet, is that I already have eight songs which could be genuine greatest hits, you dig? 'Good for you!' I know it's good for me. That's what I'm saying, idiot! And that's why I'm not worried about my age in our youth-obsessed society. 'Record them then!' I will. When I'm ready, clown! / Anyway ...

STI Group is a fast-growing developer and manufacturer of plastic medical devices for the healthcare industry. Stage has sold its 92.5% stake in the business, having transformed a diversified moulding company acquired in 2013 into a pure-play medical devices business that is very well positioned to become a key player in the connected devices market.

Healthcare?! Does that mean they know then? 'Maybe.' Bloody strange! / Let's hear from Graham Thomas -

Graham Thomas, CEO of Stage, commented: "We are very pleased with this latest exit, which again demonstrates that we are well placed to deliver leading market returns for our investors. We are focused on developing our business in those areas and geographies where we have proven expertise, track record and are highly differentiated from the pack."

Yeah, I bet they're pleased. 'Ha!' FFS!

...

Right. Anything else? Yeah. I was flicking through a book of Beatles lyrics yesterday. Amazingly, between 1963 and 1965, every song they wrote BUT ONE was about love, sex, relationships, etc. (Not STIs though.) 'Okay. Which one?' Guess. 'I can't. Tell us, Mikey!' Nowhere Man. 'What was that about?' It was about being nowhere, son, lost, and alienated, I suppose. 'Oh.' Then in 1966 they started writing about all kinds of stuff ... yellow submarines, taxmen, spinsters, tomorrows never knowing, etc.

Oh, and The Beatles had about sixty songs which could legitimately be greatest hits. [I don't mean every song was a hit. I'm saying that they're distinctive, great songs. Compare them to the songs of other artists, man! As an example, I would say The Cure only have six. Bob Dylan is a problem though. He has loads of great songs which sound nothing like hits. Maybe the word "hits" is misleading. Ah, never mind.]

Okay. Laters.