The private equity markets are ON FIRE right now. So much so that the SEC is currently considering raising restrcitions on the way they function. Think of it as only needing about 20% to buy your house (instead of paying cash for it). The deal may be an "all cash" offer, but someone is funding it. That's what's happening with these private equity firms. It may seem that they are paying a large amount but if you generate revenues, you can extend that debt payback period for something like 8 years. 257mil/8 yields only 32mil/yr that needs to be generated to fully fund. Some here appear to think that this isn't "all" of Jacuzzi but rather a sub-set (like before) but if that was the case, I think the initial write up would have been different.