To save the effort...
The company was previously majority-owned by Goldman Sachs Mezzanine Partners - suggesting it had been a "startup" with a minority ownership of founders / management.
In 2012, when the hedge funds got involved (helping the company restructure a multi-million dollar debt) - the "new ownership structure" was announced as comprising: Anchorage Capital Group LLC, Littlejohn & Co. LLC, Tennenbaum Capital Partners LLC and Farallon Capital Management LLC - i.e. 100% owned by hedge funds.
The subsequent business turnaround and $950M sale to Quikrete therefore benefited the hedge funds - and not the original shareholders of Contech.
This is what hedge funds do best...
To save the effort... The company was previously majority-owned...
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