These are exceptional economic times, with negative real interest rates and an excessive debt burden.

The deal comes at a time of intense scrutiny of the buyout industry over tax breaks, excessive debt and lack of transparency.

Good business, sensible strategy, big growth plans - but unable to achieve any of its aims while constrained by excessive debt.

However, taking on an excessive debt obligation may actually stunt growth if it creates anxiety, thereby sapping vision, vitality, and strength.

Unless they have been acquiring rivals, their balance sheets are reasonably healthy, unburdened by excessive debt.