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| Topic: |
Business
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| Number of pages / Number of words: |
10 / 2685 |
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Kolb initiated a five-year modernization program to improve Mohasco’s operations and moved the firm’s headquarters from New York to Atlanta, in order to be closer to “the carpet capital of the worldâ€, Dalton, Georgia. After achieving his profit targets, Kolb privatized the carpet division in 1988 via a $120 million leveraged buyout...
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Mohasco was renamed Mohawk Industries in 1989. Three years later the company went public again and utilized $38 million of the stock offering proceeds to reduce its debt associated with 1988 LBO. This move would set the stage for a series of acquisitions, which helped increase Mohawk’s market share from less than 4 percent to 17 percent by 1994...
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