News Archive for 2003

December 31, 2003 - William Blair & Company recently published a white paper that examines the changing environment of fixed-income investments. Click for more information and to register to receive a copy of the report.

December 30, 2003 - William Blair & Company recently published a white paper that examines the key aspects of executive management and compensation that account for strong long-term investment performance. Click for more information and to register to receive a copy of the report.

December 24, 2003 - William Blair Funds has announced that the William Blair Small Cap Growth Fund will close to new investors on December 31, 2003, with no new Small Cap Growth Fund shareholder accounts accepted after that date.

December 23, 2003 - William Blair & Company today announced that it initiated research coverage of Marlin Business Services Corp. (Nasdaq: MRLN $16.21), a national provider of equipment leases primarily to small businesses, with an Outperform rating and company profile of Core Growth.

December 17, 2003 - William Blair & Company today announced that it initiated research coverage of Argonaut Group, Inc. (Nasdaq: AGII $14.96), a specialty commercial property casualty insurer focused on excess and surplus (E&S) lines, upper-middle-market workers' compensation, public entities, and other specialty lines, with a Market Perform rating and company profile of Aggressive Growth.

December 11, 2003 - The William Blair Income Fund and its co-manager, Chris Vincent, are featured in the November 17, 2003 issue of Crain's Chicago Business Magazine in an article entitled "Swimming against the tide, staying fluid." Click to view the complete article.

December 9, 2003 - William Blair & Company recently hosted its Third Annual Economic Outlook presentation with George Greig, William Blair & Company's global strategist. Click to view the transcript of the presentation.

December 2, 2003 - Investment brings total Committed Equity Capital to $75 million. Investment funds Acquisition of Apollo College.

November 2003 - William Blair & Company and MBNA America have launched the William Blair & Company Investment Rewards credit card for William Blair & Company clients.

November 19, 2003 - William Blair & Company today announced that it initiated research coverage of P.F. Chang’s China Bistro, Inc. (Nasdaq: PFCB $50.08), the clear leader in Asian dining in the United States (with more than $500 million in anticipated sales in 2003) with a Market Perform rating and company profile of Core Growth.

November 17, 2003 - William Blair & Company is hosting its Third Annual Economic Outlook later this week. George Greig, William Blair & Company's global strategist, will share his observations and what we might expect from the markets and the domestic and international economies in the year ahead.

November 13, 2003 - William Blair & Company acted as financial advisor to Information Resources, Inc. (IRI) in its sale to Gingko Acquisition Corp., an investment group comprising Symphony Technology Group and Tennenbaum Capital Partners, LLC.

November 13, 2003 - William Blair & Company today announced that it initiated research coverage of CoStar Group, Inc. (Nasdaq: CSGP $41.60), the leading provider of information services to the commercial real estate industry in the United States and United Kingdom, with an Outperform rating and company profile of Core Growth.

November 11, 2003 - William Blair & Company today announced that it initiated research coverage of two leading financial guarantors—Ambac Financial Group, Inc. (NYSE:ABK $70.50) with an Outperform rating and a company profile of Established Growth and MBIA Inc. (NYSE:MBI $59.24) with a Market Perform rating and company profile of Core Growth. Financial guarantors insure all principal and interest payments when due on municipal bonds and other structured finance obligations.

November 6, 2003 - On Monday, October 27, William Blair & Company sponsored a networking luncheon at Petterino’s restaurant in Chicago, which was hosted by the Harvard Business School Health Industry Alumni Association - Chicago Chapter (HBS-HIAA). Click for more details.

November 3, 2003 - At this time of year, when many are making decisions about gift-giving, we provide the following information and financial guidelines as assistance.

October 31, 2003 - William Blair & Company acted as financial advisor to the Board of Directors and the Special Committee of the Board of Directors of The Dwyer Group, Inc. (“DWYR” or the “Company”) in the approximately $54 million take private sale of the Company to an affiliate of The Riverside Company (“Riverside”) and certain other stockholders, including members of the Dwyer family and senior management of Dwyer.

October 2003 - William Blair & Company acted as financial advisor to Lehigh Press, Inc. in connection with the $110,000,000 sale of Lehigh Press to Von Hoffmann Corporation.

October 2003 - William Blair & Company acted as financial advisor to PracticeWorks, Inc. (Nasdaq: PRWK) in the acquisition of PracticeWorks by Eastman Kodak Company (NYSE: EK) for $21.50 per common share in cash, or a total value of approximately $493 million, including preferred stock and assumed net debt.

October 2003 - William Blair & Company acted as exclusive financial advisor to BI-LO LLC, a subsidiary of Ahold USA, in the $187 million sale of Golden Gallon to The Pantry, Inc. (Nasdaq: PTRY).

October 29, 2003, Chicago – William Blair & Company and MBNA America today announced the launch of the William Blair & Company Investment Rewards credit card for William Blair & Company clients.

October 21, 2003 - William Blair & Company today announced that it initiated research coverage of Metrologic Instruments, Inc. (Nasdaq: MTLG $38.19), a leading supplier of automatic data-capture equipment, with a Market Perform rating and company profile of Aggressive Growth.

October, 20, 2003 - A client seminar, "Wealth Transfer Solutions for Today's Families," will be held on October 22nd at William Blair & Company.

October 14, 2002 - In recent months the financial media and the Securities and Exchange Commission (SEC) have given increasing attention to the way money management firms vote the proxies that have been entrusted to them by the shareholders whose investments they manage. As a result, the SEC has adopted new rules that require mutual funds to disclose to shareholders. Click here for more information.

CHICAGO, October 9, 2003 – Maggie Daley joins local businesswomen, including William Blair & Company’s Carlette McMullan, as they ENGAGE to promote charity.

October 8, 2003 - William Blair & Company today announced that it initiated research coverage of Ritchie Bros. Auctioneers Inc. (NYSE: RBA $41.36), the world’s largest auctioneer of used heavy equipment, specializing in construction and transportation goods such as backhoes, cranes, and trucks, with an Outperform rating and company profile of Core Growth.

October 1, 2003 - The Debt Capital Markets Department is pleased to announce the closing of the following transaction:
State Street Bank and Trust Company
5.250% Subordinated Notes due 2018

September 24, 2003 - William Blair & Company acted as financial advisor to Fitness Quest, Inc. (“Fitness Quest”) a portfolio company of Brantley Partners, in its $39 million recapitalization.

September 16, 2003 - William Blair & Company acted as financial advisor to PharmaResearch, a portfolio company of William Blair Capital Partners, in connection with the sale of PharmaResearch to Inveresk Research Group, Inc. (Nasdaq: IRGI).

September 15, 2003 - It’s time to head back to school! It’s also a good time to start thinking about saving for college. 529 College Savings Plans join the Education IRA, custodial accounts, and state prepaid tuition plans as an investment to fund college education expenses with the potential for significant tax savings. Click for more information on how William Blair & Company can help you start planning ahead.

September 10, 2003 - William Blair & Company issued its 166th Current Better Values List, a bimonthly publication initiated in 1976 that includes a small, select group of companies—chosen by the director of research—that the department expects will show superior investment performance over the next 24 months.

September 9, 2003 - William Blair & Company today announced that it initiated research coverage of Interactive Data Corporation (NYSE:IDC $17.25), a leading provider of mission-critical financial information to institutional and retail subscribers, with a Market Perform rating and company profile of Core Growth.

September 4, 2003 - William Blair & Company today announced that it initiated research coverage of Clear Channel Communications, Inc. (NYSE:CCU $44.67), a media and communications company with dominance in U.S. radio broadcasting and leadership positions in worldwide outdoor advertising and live entertainment, with an Outperform rating and company profile of Core Growth.

August 28, 2003 - The third quarter issue of our client newsletter, Client Focus, was mailed out this week. Highlights include a recap of our 23rd Annual Growth Stock Conference, which enjoyed record attendance this year; a closer look at our online account access product, Investor Annex; and a discussion of important changes as a result of this year's tax cut. Click here to view Client Focus.

August 21, 2003 - William Blair Small Cap Growth Fund Portfolio Managers Mike Balkin and Karl Brewer, and William Blair International Growth Fund Manager George Greig have been named to Barron’s “Top 100” mutual fund manager list.

August 20, 2003 - William Blair & Company today announced that it initiated research coverage of Digital Theater Systems, Inc. (NASDAQ: DTSI $22.00), a premium-brand audio entertainment company that develops and licenses digital 5.1 multichannel audio surround-sound technology for the motion picture, consumer electronics, and professional audio markets, with an Outperform rating and company profile of Aggressive Growth.

August 12, 2003 - William Blair & Company is the senior manager of a $200 million general obligation bond issued by the City of Chicago on August 7th. In 2003, William Blair & Company has managed nearly $1.5 billion in public finance transactions, including a $460 million tax-exempt bond for the State of Illinois, one of the largest such bond issues in the state’s history. In June, Thomson Financial ranked William Blair & Company No. 1 in market share for bonds issued in Illinois.

August 12, 2003 - With the release of a comprehensive report on the filtration industry, William Blair & Company today announced that it initiated research coverage of four leading companies in the space—CLARCOR Inc. (NYSE: CLC $38.10) and Donaldson Company, Inc. (NYSE: DCI $47.30) with Outperform ratings and company profiles of Established Growth and CUNO Incorporated (NASDAQ: CUNO $34.95) and Pall Corporation (NYSE: PLL $22.66) with Outperform ratings and company profiles of Core Growth.

August 8, 2003 - On Thursday, July 15, William Blair & Company hosted two client breakfasts. The first, Planning and Executing the Sale of a Business, was held at William Blair & Company. The second, Taking Your Public Company Private: Legal and Financial Considerations, was hosted in partnership with Gardner Carton & Douglas LLC.

August 7, 2003 - William Blair & Company today announced that it initiated research coverage of SAP AG, the world’s largest enterprise resource planning (ERP) vendor helping organizations to manage operations including financial, HR, and manufacturing control, with a Market Perform rating and company profile of Core Growth.

July 31, 2003 - The William Blair Tax Managed Growth Fund and its co-manager, Greg Pusinelli, are featured in the June 16, 2003 issue of Crain’s Chicago Business Magazine. Click to view the complete article.

July 24, 2003 - The William Blair International Growth Fund and its lead manager, George Greig, are featured in the July 21, 2003 issue of Forbes Magazine. Click to view the complete article.

July 21, 2003 - William Blair & Company was profiled in the April 28, 2003 issue of Barron’s. Please click to view article.

July 14, 2003 - William Blair & Company acted as exclusive financial advisor to Precision Strip, Inc. in the $246,400,000 sale of the Company to Reliance Steel & Aluminum Co.

July 11, 2003–William Blair & Company will be hosting a breakfast for clients and prospects on July 15th: "Planning and Executing the Sale of a Business"

July 11, 2003–William Blair & Company is co-hosting a breakfast at the law firm, Gardner Carton & Douglas LLC, entitled "Taking Your Public Company Private: Legal and Financial Considerations."

July 8, 2003 - This guide to the new tax laws is available from William Blair & Company.

July 1, 2003 - Reflecting strong performance and continued robust investor demand, assets in the William Blair International Growth Fund have surpassed the $1 billion-mark.

June 25, 2003–William Blair & Company acted as exclusive financial advisor to Anderson Packaging, Inc. in the $102,500,000 sale of the company to AmerisourceBergen Corporation.

June 24, 2003—With a roster headlined by some of the world’s leading business services, consumer, financial, health care, and technology companies, Chicago-based William Blair & Company today kicked off its 23rd Annual Growth Stock Conference, a three-day event featuring more than 150 companies of all sizes and attracting investors from around the globe.

June 13, 2003—William Blair & Company today announced that it initiated research coverage of Computer Programs and Systems, Inc. (Nasdaq:CPSI $21.80), a leading provider of financial, clinical, and administrative information systems to small and midsize community hospitals, with a Market Perform rating and company profile of Aggressive Growth.

June 12, 2003—William Blair & Company today announced that it initiated research coverage of Cabot Microelectronics Corporation (CCMP $49.12), the leading global supplier of sophisticated polishing compounds and provider of polishing pads used in the manufacture of advanced semiconductors and rigid disks, with a Market Perform rating and company profile of Aggressive Growth.

June 11, 2003—William Blair & Company today announced that it initiated research coverage of Dade Behring Holdings Inc. (DADE $23.37), a worldwide manufacturer and distributor of in-vitro diagnostics (IVD) products, with a Market Perform rating and company profile of Core Growth.

June 6, 2003—William Blair & Company today announced that it initiated research coverage of Hudson Highland Group Inc. (HHGP $18.24), a provider of executive search and specialty staffing services throughout the world, with a Market Perform rating and company profile of Aggressive Growth.

June 6, 2003—William Blair & Company today announced that it initiated research coverage of Zimmer Holdings, Inc. (NYSE:ZMH $42.51), a leading player in reconstructive implants (with an approximate 20% share), with an Outperform rating and company profile of Core Growth.

June 5, 2003—William Blair & Company today announced that it initiated research coverage of Sonic Corp. (Nasdaq: SONC $25.31), which operates the nation’s largest chain of drive-in restaurants, with an Outperform rating and company profile of Core Growth.

June 2, 2003—William Blair & Company today announced that it initiated research coverage of IMPAC Medical Systems, Inc. (Nasdaq:IMPC $23.29), the leading vendor of clinical and practice management systems for radiation oncology centers, with an Outperform rating and company profile of Aggressive Growth.

On June 2nd, William Blair & Company is hosting a client seminar, "Investment Bankers Advise on Selling a Business." Dick King and Mark Timmerman, principals and group heads in Corporate Finance, have designed a client seminar to provide insight for structuring a deal and maximizing the proceeds from the sale. King and Timmerman have more than 30 years of combined experience structuring and executing the sale of companies.

May 22, 2003—William Blair & Company today announced that it initiated research coverage of Lexmark International, Inc. (LXK $71.35), a leading developer, manufacturer, and supplier of printing solutions for the enterprise and consumer market segments, with an Outperform rating and company profile of Core Growth.

May 21, 2003—William Blair & Company today announced that it initiated research coverage of AmSurg Corp. (Nasdaq:AMSG $26.90), the largest operator of practice-based ambulatory (outpatient) surgery centers in the United States, with an Outperform rating and company profile of Core Growth.

May 20, 2003—William Blair & Company strengthens its expertise in the food/retail sector with advisory role to The Great Atlantic & Pacific Tea Company.

May 15, 2003—William Blair & Company today announced that it initiated research coverage of Amersham plc (NYSE:AHM $36.38), the largest medical technology company in the United Kingdom, with an Outperform rating and company profile of Core Growth.

May 14, 2003—William Blair & Company issued its 164th Current Better Values List, a bimonthly publication initiated in 1976 that includes a small, select group of companies—chosen by the director of research—that the department expects will show superior investment performance over the next 24 months.

May 7, 2003—William Blair & Company acted as exclusive financial advisor to Imperial, Inc. (“Imperial”) in the sale of the company to Norwest Equity Partners (“Norwest”).

May 6, 2003—William Blair & Company today announced that it initiated research coverage of Pfizer, Inc. (NYSE: PFE $31.91), a premier drug marketer, with an Outperform rating and company profile of Established Growth.

April 16, 2003—William Blair & Company today announced that it initiated research coverage of CACI International Inc. (NYSE:CAI $35.24), a leading information technology (IT) and communications service provider to the U.S. Department of Defense; civilian agencies of federal, state, and local governments; and commercial organizations, with an Outperform rating and company profile of Core Growth.

April 15, 2003—William Blair & Company today announced that it initiated research coverage of Kronos Incorporated (KRON $42.11), which provides a full range of frontline labor management tools, with an Outperform rating and company profile of Core Growth.

April 10, 2003–David Jones, Managing Director of William Blair Mezzanine Capital Partners, will be at the 26th Annual ESOP Conference, from April 30 to May 2, at the Omni Shoreham in Washington, D.C., to speak in a panel discussion titled “ESOP Financing Techniques in a Tough Economic Climate.”

April 7, 2003–William Blair & Company acted as exclusive financial advisor to Medical Research Laboratories, Inc. (MRL) and its board of directors in the sale of the company to Welch Allyn, Inc. (Welch Allyn).

William Blair & Company today announced that it initiated research coverage of American Healthways, Inc. (Nasdaq: AMHC $19.15), a leading provider of disease management and care enhancement services to hospitals and health plans, with an Outperform rating and company profile of Aggressive Growth.

On March 31, 2003, Ambassador Rich Williamson, the Alternate U.S. Representative to the United Nations for Special Political Affairs, spoke to the firm’s clients about a broad range of issues facing America and the United Nations.

John Ettelson, President and Chief Operating Officer, talks with The Wall Street Transcript about William Blair & Company in the Financial Services Sector Issue.

CHICAGO, March 25, 2003—William Blair & Company today announced that it initiated research coverage of Galyan's Trading Company, Inc. (Nasdaq:GLYN $11), a big-box sporting goods retailer, with an Outperform rating and company profile of Aggressive Growth.

A leader in middle market M&A, William Blair & Company closes $330,000,000 BWAY transaction.

CHICAGO, March 18, 2003—William Blair & Company today announced that it initiated research coverage of TiVo Inc. (Nasdaq:TIVO $5.04), the leader in the personal video recorder (PVR) market, with an Outperform rating and company profile of Aggressive Growth.

Mergers & Acquisitions Magazine featured William Blair & Company in a cover story article in the March 2003, issue. Click to view the complete article.

CHICAGO, March 12, 2003—William Blair & Company issued its 163rd Current Better Values List, a bimonthly publication initiated in 1976 that includes a small, select group of companies—chosen by the director of research—that the department expects will show superior investment performance over the next 24 months.

William Blair & Company acts as financial advisor to National Bedding Company in $225,000,000 transaction.

CHICAGO, March 7, 2003—William Blair & Company today announced that it initiated research coverage of Barra, Inc. (BARZ $26.90), the global leader in the development and sale of risk management systems and services to the investment community, with a Market Perform rating and company profile of Core Growth.

William Blair & Company acted as exclusive financial advisor to Data Niche Associates, Inc. (“DNA” or the “Company”) in connection with the sale of the Company to IMS Health, Inc. (NYSE: RX).

In 2002, William Blair & Company strengthened existing client relationships and embarked on new ones. Client relationships always have been a hallmark of our firm, and it is these relationships that keep our business strong, even through difficult times.

William Blair & Company is pleased to have acted as financial advisor to Kar Products and its affiliates in the $78,500,000 sale of the company to Barnes Group.

William Blair & Company acted as a financial advisor to Morton Grove Pharmaceuticals, Inc. in the sale of the company to GTCR for $190,000,000.

In its advisory role to Victor Oolitic Stone Company, William Blair & Company completes another successful transaction with a family-run business.

We are pleased to report that all of the William Blair Funds now have star ratings from Morningstar, a mutual funds rating organization.

CHICAGO, January 28, 2003—William Blair & Company today announced that it initiated research coverage of VistaCare, Inc. (Nasdaq:VSTA $16.89), the largest hospice provider focused on non-urban markets and the third-largest hospice operator in the United States, with an Outperform rating and company profile of Aggressive Growth.

CHICAGO, January 15, 2003—William Blair & Company today announced that it initiated research coverage of Chicago Mercantile Exchange Holdings Inc. (CME $49.10), one of the world’s leading exchanges for the trading of futures and options on futures contracts, with a Market Perform rating and company profile of Core Growth.

CHICAGO, January 15, 2003—William Blair & Company issued its 162nd Current Better Values List, a bimonthly publication initiated in 1976 that includes a small, select group of companies—chosen by the director of research—that the department expects will show superior investment performance over the next 24 months.

CHICAGO, January 10, 2003—William Blair & Company today announced that it initiated research coverage of Arbitron Inc. (ARB $34.36), the leading provider of audience measurement data for radio in the United States, with a Market Perform rating and company profile of Established Growth.

CHICAGO, January 8, 2003—William Blair & Company today announced that it initiated research coverage of XL Capital Ltd. (XL $82.51), a Bermuda-based specialty commercial property casualty insurer/reinsurer, with an Outperform rating and company profile of Core Growth.

The London Office and Healthcare Group of the Corporate Finance Department are pleased to announce the closing of the following cross-border M&A transaction: Pharma Bio-Research has been acquired by HgCapital.

The Corporate Finance Department is pleased to announce that Washing Systems, Inc. (“WSI”) has been acquired by Fisher Investment Group. William Blair & Company acted as exclusive financial advisor to WSI.

William Blair & Company today announced that it initiated research coverage of Cosí, Inc. With an Outperform rating and Aggressive Growth company profile.