Yesterday, a story came across Business Wire that was far from a normal private equity story.
A newly-created firm called Javan Capital Partners LLC has apparently purchased several businesses from what is said to be a great young entrepreneur named Artin Afsharjavan, for a total of $6 million in cash and equity. What those exact terms are may be something else, but here is where the deal is different than 99.99% of all announcements of the sort: he is listed as being 19 years old, and it says he had already invested $2 million in Javan before this one closed.
The businesses purchased include Restaurant Javan, a Persian restaurant located in Bethesda. This also includes L3 Investments, Continental Alliance Corp., RentSeek.com, USARecalls.com, HillStreetDiamonds.com, and L3 Transportation.
If you look over this, it sounds like the new firm wants him opening new operations rather than operating these other businesses. Robert Long, vice president of acquisitions at Javan Capital Partners, said they approached him about purchasing his companies to allow him devote more time to Javan Capital Partners.
There may be a bit of a PR ploy here, as Javan Capital Partners noted that it is continuing to raise additional capital and is about to close it to new investments until some time in 2009. You can go poke around at all of these sites to see what your think on your own because some of the sites are down or say they are being relaunched as of today.
I haven't been able to confirm any of the comments from the press release, so you are on your own. I thought going to work for a stock broker at 18 was impressive, but this looks like it blows that away.
Business Wire has another story about him buying a retail granite chain last month and YoungEntrepreneur.com has a profile you can see. Congratulations to him if the terms are all straightforward as they were laid out in the main release
Business sales net millions -- for a 19-year-old?!
Recent Posts
- Yahoo's board shoots back at Icahn (5/16/2008)
- Icahn: Yahoo! board acted 'irrationally' (5/15/2008)
- CBS buying CNet for $1.75 billion - is TheStreet.com next? (5/15/2008)
- Blackstone shows losses and declines across the board (5/15/2008)
- Icahn moving forward with Yahoo! move (5/14/2008)
Add your comments
Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.
When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br> tags.
BloggingBuyouts is provided for informational purposes only. Nothing on the service is intended to provide personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter. You are solely responsible for any investment decisions that you make. The contributors who provide the content of BloggingBuyouts may, from time to time, hold positions in the securities discussed at the time of writing and they may trade for their own accounts. Such holdings will be disclosed at the time of writing. By using the site, you agree to abide to BloggingBuyouts' Terms of Use.
