Dive Brief:

• Foodservice and vending giant Aramark priced its initial public offering at $20 a share late Wednesday, taking in a 135% return for the banks that owned the Philadelphia-based company. Shares rose to $22.70 in the first day of public trading Thursday.
• The big winner in the deal is Joseph Neubauer, chairman of Aramark. This is the second time he's put Aramark into the public markets in the course of his career — amassing extraordinary returns for himself and a select group in the process.

Dive Insight:

We've written earlier about the financial engineering that drives business today. It's enough to make the idea of making a good living by selling a good product at a good price seem quaint. But even by the grotesque standards of the "take 'em private, load 'em with debt, take the fees and take 'em public" nonsense that is the market today, Aramark stands out.