Moab Capital Partners, managed by Michael M. Rothenberg and David Sackler
, in a filing revealed that it no longer has a stake in Mac-Gray Corporation (NYSE:TUC
). Earlier, the fund held 1.34 million shares of the company representing 9.1% stake in Mac-Gray Corporation (NYSE:TUC
)’s common stock. The position was sold out following Mac-Gray's acquisition by Spin Holdco.
Post the January 9, 2014 completion of Mac-Gray Corporation (NYSE:TUC) merger with CSC Service Work
, all shares of Mac-Gray Corporation (NYSE:TUC) which were beneficially owned by the Moab Capital ceases to exist. All shareholders, including Moab Capital supported the merger.
As per the October CSC Fenway, Inc. and
Mac-Gray Corporation (NYSE:TUC), entered into a definitive merger agreement, under the terms of which the former has acquired all the outstanding common stock issued by Mac-Gray, paying $21.25 per share which represents a 42% appreciation on October 14, 2013 close price of Mac-Gray's stock. CSC Fenway, Inc. is
a wholly-owned subsidiary of Spin Holdco, which is a subsidiary of CSC ServiceWorks
CSC is a leading provider of multi-family housing and commercial laundry solutions. Mac-Gray, is a laundry facilities management services provider which is also into selling and service of commercial laundry equipment to retail customers. Mac-Gray Corporation (NYSE:TUC), has paid out dividend
of $0.0875 per share at
the beginning of January.
’s Gamco Investors upped
its stake in Mac-Gray Corporation (NYSE:TUC
) to 8.24% from 6.66% held earlier. Also, River Road Asset Management trimmed
its holding in the stock to 335,678 shares from 1.3 million shares. Pamplona Capital Management, led by Alexander Knaster, disclosed in a filing that it holds a 17.7% stake
in Mac-Gray Corporation (NYSE:TUC).
Moab Capital Partners, is an event-driven hedge fund. The second largest holding of the fund after Mac-Gray Corporation (NYSE:TUC) is Macquarie Infrastructure Company LLC (NYSE:MIC
), where the fund has invested 10.33% of its equity portfolio, which contains 25.0 million shares 324,788 shares. The fund also holds 1.96 million shares, of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD
). Another company where the fund has a long position is Susser Petroleum Partners LP (NYSE:SUSP
), wherein it holds 310,562 shares with a reported value of $12.86 million.
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