NRDC Ups Buying Power With IPO

NRDC Equity Partners, parent of Lord & Taylor, has formed NRDC Acquisition Corp. to raise $360 million for the possible purchase of one or more operating...

The competitive field would also include the recently formed TSM Capital, founded by industry veteran Marvin Traub along with Mortimer Singer and Aslaug Magnusdottir, and The Atelier Fund, which was launched this year by Marty Wikstrom and Dawn Mello. But on a bigger scale, there is also Fast Retailing Co. Ltd., owner of Theory, Helmut Lang and Uniqlo, which recently said it has set aside $3.5 billion for overseas acquisitions, and Li & Fung USA, which bought some of the moderate brands being sold by Liz Claiborne Inc. and last month acquired Regatta Pacific Alliance, which will be used as a base for acquisitions. Baugur would be another big competitor to NRDC Acquisition.

According to the NRDC Acquisition prospectus, as of Aug. 31, "approximately 115 similarly structured blank check companies have completed IPOs in the U.S. since the start of 2004 and 45 others have filed registration statements. Of the blank check companies that have completed IPOs, 30 have consummated deals and 24 others have announced that they entered definitive agreements or letters of intent to do a deal.

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