I came across a great financial acronym yesterday.
I'd already heard of management buy-outs, or MBOs, which is when a company is purchased by its existing management. However, when a company is purchased by a combination of its existing management and an external management team, this is known as a 'buy-in management buy-out', or - wait for it - a BIMBO.
"We bought the company through a BIMBO." Immortal words.
2 hours ago