M&A Masters: Recent Episodes
Patrick Stroth
Master the clean exit! Discover secrets of M&A Masters. You'll hear inside interviews with M&A advisors, attorneys, investment bankers, private equity players, and the entrepreneurs themselves. If you ever want to sell your business this is a must-listen podcast.
How can M&A advisors help business owners maximize and monetize their life’s work?
That’s the mission of M&A advisory and exit planning consulting firm TobinLeff, whose founder David Tobin is here to speak with me in this episode.
David will share how his firm builds relationships long before the deal and meets clients wherever they are in the M&A journey.
He’ll also cover M&A in the professional services and marketing sector, his ideal client profile, and more.
What if you had a step-by-step guide to the M&A process?
My guest, investment banker Bill Snow, is the author of Mergers & Acquisitions for Dummies, an insider’s handbook about buying and selling companies.
In this episode, he’ll share his M&A expertise and give an inside look at the process of writing his book.
He’ll also share the one tip that tests if your investment banker has the right negotiation skills for your deal—and give his take on reps and warranties insurance.
In the case of an unexpected death or disability, a business can face hardship and significant economic consequences…
But in this episode, we’re covering two essential products that can mitigate this risk: key person life insurance and excess disability insurance.
Here to speak with me is Lynne Rosenberg, President of Innovative Solutions, which provides broad market access to leading carriers of annuities, life, disability, and long term care insurance.
She’ll cover what businesses need to know about these products and how they can protect your employees, clients, and business.
When you have an indefinite holding period, you’re buying for the long term…
What are the strategies of firms that operate in this way?
Ben Brown, founder of Alderman Enterprises, is here to share his perspective on M&A.
We discuss:
- Benefits of the buy & hold strategy
- Why his firm sticks to the lower middle market
- Ben’s take on reps & warranties insurance
- And more
There’s enormous opportunity in professionalizing and scaling founder-owned businesses.
But what does it take to become a leader in this area?
In this episode, I’m joined by Heather Madland of Huron Capital for an inside look at the firm.
We’ll also discuss:
- Opportunities in the service sector
- M&A in the Midwest
- The history of Huron Capital
- Heather’s take on reps & warranties insurance
- And more
The sell-side of M&A brings unique challenges and opportunities…
In this episode, I’m joined by Richard Parker of Roy Street Advisors for an inside look at a sell-side firm.
We’ll also cover:
- Why the first offer isn’t always the best offer
- The importance of documentation
- Reps & warranties from a sell-side perspective
- M&A trends for 2023
- And more
Why do M&A Masters love the lower middle market?
You get the opportunity to aggressively scale family businesses…
In this episode, I’m joined by Justin Smith of LongWater Opportunities, a private equity firm based in the Midwest.
Justin’s firm has firsthand experience growing family businesses, and he’s here to share his expertise.
We’ll also cover:
- Why great management teams beat excellent business models every time
- Investing in the Midwest
- What Justin looks for in a business
- And more
What does it take to be an M&A Master for the IT and cybersecurity industries?
Jamar Freeman of Moonshot Equity Partners is here to share his firm’s holistic approach to acquiring and building market-leading companies.
Listen to learn:
- The 4 strategies that set Jamar’s firm apart
- The advantage of guaranteed payouts
- Jamar’s take on reps & warranties insurance
- M&A trend predictions for next year
- And more
If you’re an independent sponsor or a capital provider, you won’t want to miss the upcoming Independent Sponsor Conference…
Featuring one-on-one networking meetings with people hand-selected to match you…
This is an unbeatable opportunity to connect with someone and lay the groundwork for deals…
In this episode, Jeffrey Brooker, an organizer of the conference, is here to give you all the details on what to expect.
Jeffrey also gives insight into the role of an independent sponsor and how it differs from private equity.
M&A is never just about chasing numbers….
It’s about the people who trust you with their business…
A business that represents generations of hard work—and a family’s legacy.
My guest Chris Parisi knows this well. At Carl Marks Advisors, which has been around since 1925, Chris secures clean exits for lower middle market business owners.
In this episode, Chris shares some of Carl Marks Advisors’ storied history and reveals how he fights for the best outcomes for his clients.
Cloud-based infrastructure is one of the most rapidly expanding industries today…
And this episode’s guest, Sean Frank, is an expert on it.
As the founder of Cloud Equity Group, Sean invests in lower middle market companies in the web hosting and cloud-based infrastructure sectors.
Listen to find out:
- What Sean looks for in a company
- The problem with naming firms after the founder
- Sean’s investment strategies for the lower middle market
- How reps & warranties insurance has affected the cloud
- Cloud-based infrastructure predictions for 2023
- And more
How do you get owners to stop thinking like operators…
And start thinking like investors?
For the lower middle market, this mindset shift is crucial for a clean exit.
In this episode, I talk to Sly Buford, founder and CEO of Tenth Street Group, which specializes in helping lower middle market businesses grow, scale, and exit. Sly had an unconventional path to becoming an investor, and he’s here to share how he found M&A success.
In this week’s episode of M&A Masters, we sit down with Marty Fahncke to talk about M&A for the lower middle market.
Marty is a partner at Westbound Road, LLC and has over 30 years of experience in building and growing businesses.
Listen to learn:
- How businesses can double revenue without increasing sales
- How owners can leave a legacy with their business
- Marty’s takes on M&A trends for 2022
- And more
You might think of M&A as a zero-sum game…
But that’s where many business owners go wrong.
It might surprise you to hear that building trust with the opposing side is the key to securing your clean exit.
This episode’s guest, Alistair McBride, coaches business owners in the fine art of negotiating M&A deals.
Alistair has seen deals succeed when business owners treat their opponent like their ally.
He calls this “the psychological edge of negotiation.”
In today’s episode, we discuss how you can use this idea to win over the other side and sell them your vision—so you can both close with maximum value.
On this week’s episode of M&A Masters, we’re sitting down with Deborah Smith to talk about real estate, a first on this show!
Deborah is the Co-Founder and CEO of The CenterCap Group. The CenterCap Group, LLC, is a boutique investment bank providing strategic advisory, capital-raising, and consulting related services to public and private corporations, owners, operators and investment managers. They are exclusively focused on the real estate sector, with a deep understanding of what drives the industry and the relationships to back that up.
Deborah says, “We are all things real estate and we haven’t strayed from that. Our whole goal is to be in the middle… if you think about real estate and you need an advisor, you should call us.”
Listen to learn:
- Where the interest is in the real estate market right now
- Why looking at ESG in real estate long-term is now more important than ever
- Where The CenterCap Group is most dialed in and how they can help when it comes to long-term growth and valuation
- How reps and warranties insurance helps The CenterCap Group resolve differences to save deals
- How the population shake up is creating real estate investment opportunities in 2022
On this week’s episode of M&A Masters, we sit down with Patrick Turner to talk about how his company is transforming good companies into great companies through their partnerships.
Patrick Turner is the Managing Director of VSS. VSS is a private investment firm that invests in the information, business services, healthcare and education industries. Since 1987, VSS has partnered with lower middle-market companies to provide management teams with capital solutions to drive growth.
Patrick says, “Our focus is on creating value in the companies we invest in. If you don’t grow [your company] you’ll lose it, you can’t stand still. We provide additions that help companies grow. Hopefully, we get involved with them and take them to a different level.”
Listen to this episode to learn:
- What Patrick sees as the key drivers in the current M&A market and how he thinks the investment horizon is changing
- How VSS differs from other private investment firms
- The top 3 industries they are looking to partner with
- His top 3 reasons for using reps and warranties in every deal
- And more
On this week’s episode of M&A Masters, we speak with Jennifer Mandelbaum, Senior Investment Director at Halogen Ventures.
Halogen Ventures is a California-based Venture Capital fund focused on investing in early stage consumer technology startups with a female on the founding team.
Female led businesses represent a massive opportunity. They deliver higher ROI and deliver higher payouts on exits, but they are still having issues raising money. Halogen Ventures, led by Jesse Draper, is ready to change that by investing in companies creating technologies that are changing lives in the consumer space.
Jennifer walks us through:
- The key things that separate Halogen from all the other businesses out there, plus their hands-on strategy that supports the whole of every business they work with
- The 3 word marketing strategy Halogen uses to help women portray the unique gifts they bring to the table
- How they are jumping into women founded companies that support the changing way families live, work, and shop today
- The trends she sees coming for the rest of 2022 and beyond
- And more
Global M&A volumes hit a record in 2021 and that pace is expected to continue as we head into the second quarter of 2022. Family-owned businesses continue to be front and center in many of these deals, which is why I wanted to rewind my episode with James Darnell for my listeners today. I sincerely believe that there is a huge marketplace of companies in the lower middle market that need help.
James is the Managing Partner of KLH Capital, a private equity firm that focuses on serving family and founder-owned, lower middle-market companies throughout the United States.
M&A Source recognized KLH Capital as the Private Equity Firm of The Year in 2021. At KLH Capital, they are all about added growth and value and helping teams reach new levels of success. Listen to the rewind of this episode to learn:
- Why KLH Capital is focused on businesses at the intersection of realizing their value and reaching for growth
- Why overcoming the fear of technology is the secret to unlocking the potential of the family owned or entrepreneurial led business
- The key to creating partnerships that preserve a company's legacy
- The number 1 reason they use rep and warranty policies in virtually every deal
- And more
If the past two years have taught us anything, it is we need to have a thriving manufacturing sector. With the inability to meet supplies of offshore parts with demand here at home and the new instability in Europe and it’s more important than ever to have a thriving US manufacturing sector.
That’s why today, on M&A Masters, I am rewinding my conversation with Jessica Ginsberg. Jessica is the Director of Business Development for LFM Capital, a private equity firm founded by operators and engineers. At LFM Capital, manufacturing is all they do, with their focus turned toward investing in private, lower middle-market manufacturing companies in the United States and Canada.
Listen as we rewind how LFM Capital is:
- Attracting top talent and leveraging partnerships to expand a critical piece of the United States economic landscape
- Using the 5S philosophy to expand a manufacturing company's legacy
- Creating trust through their jeans and pickup truck's approach and how that translates to a virtual world
- Applying the use of reps and warranty as another layer in deal diligence
- And much more
On this week’s episode of M&A Masters, I’m revisiting my conversation with Ryan Milligan, Partner at ParkerGale. I am rewinding this episode for two reasons. The first is that the ParkerGale Capital podcast, The Private Equity Funcast opened the entire private equity world to me over five years ago.
The second reason is in our conversation. Ryan and I dove deep into how ParkerGale uses a tool to actively measure culture to create improvements and make companies better places to work. As you probably know, culture is the biggest buzzword of the last few years. According to Caroline Castrillon, a contributor to Forbes, 2022 is the year of workplace culture—so this episode is worth another listen.
Ryan says, “Culture is kind of a stew that’s created from a whole list of things… the combination of communication… consistency and then listening to your organization.”
Listen to learn:
- The unique way ParkerGale approaches deals, and how they are using transparency to circumvent surprises
- Which aspects of company culture are the most measurable, maintainable, and ripe for improvement
- How they use reps and warranties as a release valve for seller pressure
- The explosion of software and technology in a post pandemic era
- What the ideal ParkerGale target company looks like
- And more
On this week’s episode of M&A Masters, to celebrate International Women’s Week we’re rewinding my conversation with Suzanne Yoon. In 2020, Suzanne’s firm, Kinzie Capital Partners, in Chicago was honored by the Private Equity Women Investor Network (PEWIN) as the North American female-founded firm of the year. The Wall Street Journal has also recognized her as a top female dealmaker.
We asked Suzanne how she felt about these honors, she said, “Companies outperform when they have diversity in their leadership ranks and when they have diversity on a board. So that’s both gender and ethnic and experience. I actually attribute some, a lot, of our success at Kinzie to that and not because I’m a woman and I have an ethnic background, but more when you look at our entire team and you see the different experiences we’ve had.”
Listen as she walks us though:
- What’s unique about Kinzie—what the Kinzie formula is and how it helps companies execute their vision
- Putting the formula into action, how Kinzie helped one company double its EBITDA in a very short period
- The beauty of reps and warranty insurance: a middleman between buyer and seller
- Women in finance forging the future
- And much more
Today on M&A Masters, we’re rewinding my interview with Jon Finger, a Partner at McGuireWoods in Dallas. The reason I want to take you back to this show is because of the unique things Jon’s practice is bringing to the M&A space. They were the first to dedicate themselves to introducing independent sponsors to their capital partners.
Jon says, “As we were building the network, and our practice was evolving, what we like to think was our secret sauce was our ability to introduce investment opportunities to our network of capital partners.”
Listen, as I rewind this episode of Jon walking us through:
- The lightbulb moment that led to the discovery of their secret sauce
- How independent sponsors differ from private equity investors and how they're bringing greater value to their capital partner relationships.
- Creative solutions to offloading the friction in deals (including his use of rep and warranty insurance)
On this week’s episode of M&A Masters, we’re sitting down with Renny Sie, Vice President of Business Development and Investor Relations at the private equity firm Boyne Capital.
Established in 2006, Boyne Capital takes a different approach to investing—one that forges lasting and collaborative relationships with companies whose founders and families are still deeply involved in growing their businesses. It’s a term they call a value cultivator approach.
Renny says, “Partnership is extremely important to us. The fit is important because this is going to be a long-term partnership to grow this thing together and make it bigger and better for everyone.”
Listen to discover:
- How to propel family-owned businesses to the next level—partnering NOW to prosper in the future
- Boyne Capital’s unique value cultivator approach to the lower middle market—building the right team through focusing on relationships, recruiting, and retention
- Why they feel that Rep & Warranty Insurance is an important component for their deals
- And much more
On this week’s episode of M&A Masters, we sit down with Laurin Parthemos to talk about culture. Laurin is a Principal at Kotter, a company named after Dr. John Kotter, the world’s foremost change expert. Kotter’s approach to merger & acquisition integration focuses on culture and people first.
Laurin says, “Culture is more and more seen as that differentiator within an industry to say we have a strong culture where people want to work.”
Listen as she walks us through:
- Three ways to acknowledge (and counter) the survive or thrive mindset of change and help an organization move forward
- The key to the path forward when integrating organizations with varying cultures—she’ll share a case study of the positive results they achieved (with long-time rival companies)
- The monumental shift in the talent pool—what’s behind it
- One of the most overlooked things most miss when planning integration and catalysts for forward momentum
- And much more
This week on M&A Masters, I want to revisit with you a special episode featuring the conversation I had with Domenic Rinaldi. Domenic is the President and Managing Partner of Sun Acquisitions, a buy-side and sell-side M&A advising firm. Domenic also hosts his own podcast, M&A Unplugged, ranked among the top M&A podcasts in 2021.
Listen to this special rewind episode as Domenic walks us through:
- Too big to be small and too small to be enterprise: why Sun Acquisitions loves the lower middle market
- The secret to uncovering opportunities on both the buy-side and the sell-side
- How to avoid the number one pitfall to getting deals done
- And much more
This week on M&A Masters, we’re doing a special rewind of my sit down with Dena Jalbert, Founder and CEO of Align Business Advisory Services.
I think it’s worth revisiting this episode for two reasons. 1) Dena’s name appeared on Mergers and Acquisitions Magazine’s list of the Top 25 Most Influential Women in Mid Market M&A. 2) Her company, Align, is unique in their commitment to the lower middle market—a vast marketplace that is highly underserved. By bringing their expertise to the owners and founders they help them discover:
- Key strategies for unearthing opportunities at the inflection point
- How Align positions a company to put its best face forward—bringing Wall Street resources into smaller deals
- The secret strategy that is the real “art of the deal”
- And more
On this week’s episode of M&A Masters, we sit down with Samantha Ory to talk about choosing partnership over buyout. Samantha’s company, Ouroboros Group, is a private investment firm specializing in middle market corporate acquisitions and operations in the manufacturing, healthcare, and consumer sectors.
Samantha says, “I found that there is this segment of outlier companies and CEOs who are looking for something a little bit different. We cater a lot to the CEOs. We always ask ‘what can we do for you?’ It builds trust, but it’s also very genuine… we really want to know.”
Listen as she walks us through:
- How her non-traditional background led to a unique approach for the Ouroboros Group
- Two atypical things they focus on to take a company to the next level (post buyout)
- The 3 algorithmic strategies they use to find deals
- The key to developing organic partnerships
- And much more
On this week’s episode of M&A Masters, we speak with Lorraine Wilson, Chief Impact Officer and Head of ESG Methodology at Novata.
Novota’s mission is to empower general partners in the private market to collect, analyze, and report relevant ESG data.
Lorraine says, “ESG is evolving. Novata offers a standard process for analysis... using metrics most applicable to the private market.”
As ESG begins permeating the private sectors, it’s becoming top of mind for investors and in the boardroom. Listen as Lorraine walks us through:
- How Novata assists general partners and private companies in collecting, analyzing and reporting relevant ESG data
- The reporting on-ramp Novata has created - a technology platform which includes a library of metrics and guidance, where GPs can select the most relevant disclosures for their portfolio companies
- What she believes will be the biggest focus of data analysis for 2022 (Hint: ESG isn’t going away)
- And more
On this week’s episode of M&A Masters, we are replaying one of our most popular episodes. Gus Marshall, Head of Transaction Liability at CFC Underwriting, Ltd. CFC is a specialist insurance provider, pioneer in emerging risk, and market leader in cyber and transactional liability.
We are talking with Gus about CFC's exciting new product launch, Transaction Liability Private Enterprise (TLPE).
Gus says, “Reps and warranties insurance is currently Wall Street and we want to make it Main Street with TLPE.” He’ll break this new product down for us and tell us:
- How TLPE creates groundbreaking opportunities in micro markets
- 5 Key TLPE coverage highlights
- 3 key points to making TLPE work
- And more
On this week’s episode of M&A Masters, we speak with Kresimir Peharda, corporate and M&A attorney with YK Law. Kresimir is the Chair of the firm’s Cannabis Practice.
As federal legalization inches ever closer, we invited him on the show to discuss the ins and outs and the rise of M&A in the world of cannabis.
Listen as he walks us through:
- Improvements are happening and usage is up, but what challenges lie ahead for M&A in the cannabis industry
- How cannabis regulations affect deals and why buyer/seller trust is everything
- What trends he sees coming in the cannabis M&A market for 2022 and beyond and his advice to first-time buyers in the market
- And much more
On this week’s episode of M&A Masters, we speak with Michael Kornman of NCK Capital.
NCK Capital acquires controlling interests in lower-middle market companies and takes them to the next level with “right-fit” capital structures, inspiring management incentives, and nurturing support.
Michael says, “We love the lower middle market. It’s a great place to build value…” Listen as he
walks us through:
- Why NCK Capital loves the lower-middle market, their unique perspective and target markets
- Three rules to ensure success in lower-middle market deals
- Their secrets for fostering organic growth, and (long term) focused wealth creation
- And much more
Our guest for this week’s episode of M&A Masters is Gina Cocking, CEO and Managing Director of Colonnade Advisors LLC.
Colonnade Advisors is a boutique investment banking firm that specializes in merger and acquisition advisory services, providing financial advice to business owners interested in selling their companies, buying competitors, and raising capital. Gina was employee number one at Colonnade, then left to pursue other interests. She returned to Colonnade Advisors as a Managing Director in 2014.
Despite overlap between our practices, there are a lot of parallels going forward and I think you will greatly benefit from this episode.
Listen as we talk about:
- The critical element to managing expectations
- The truth behind valuation and how to get the best price for your company
- Gina’s take on the new reps and warranties offerings and what’s coming for 2022 in the industry
- And much more
On this week’s episode of M&A Masters, we are replaying one of our most popular episodes featuring Codie Sanchez. Codie is the managing director of Entourage Effect Capital Partners and one of the most sought out speakers in the cannabis business. She also co-leads Unconventional Acquisitions, an educational resource making the buying of businesses accessible to anyone willing to put in the work.
Codie says, “If you have the mindset to be an entrepreneur and to get to go and grind and build your own thing, you have the ability to be a deal maker, and to buy businesses, period.”
We chat with Codie about the abundance of opportunities to buy small businesses right now, as well as…
- The commoditization of buying businesses
- The timeline of businesses on the market
- The Laundromat Model
- The 9 Steps to Buying a Business, including the mindset required to close the deal
- The magic of “Deal-maker glasses” and seeing opportunities everywhere
- And more
On this week’s episode of M&A Masters, we speak with Ron Edmonds founder and president of The Principium Group.
The Principium Group is one of the most recognized names in lawn and landscape mergers & acquisitions, or as I say, the Match.com of landscaping, one of those niches hiding in plain sight in M&A.
This is an exciting area in the industry, so listen in as Ron walks us through:
- How The Principium Group joins buyers and sellers to create a more positive experience for both sides
- Where the biggest demand is in lawn and landscape M&A (and what is driving it)
- How technology is changing the industry
- What trends he sees coming for 2022 and beyond
- And much more
On this week’s episode of M&A Masters, we speak with Skip Maner.
Skip is a General Partner of NewSpring Capital and founder of the firm’s dedicated buyout strategy, NewSpring Holdings, and was recently featured in Mergers & Acquisitions Magazine.
For over 20 years, NewSpring Capital has been seizing compelling opportunities and offering a fresh approach to building businesses in the lower middle market. There’s a lot more to them than meets the eye and we have just the right person to walk us through it, so listen and discover:
- Capital solutions across five distinct strategies
- NewSprings Holdings’ ideal targets
- Upcoming trends for 2022 and beyond
- And more
Our guest for this week’s episode of M&A Masters is Gus Marshall, Head of Transaction Liability at CFC Underwriting, Ltd. CFC is a specialist insurance provider, pioneer in emerging risk, and market leader in cyber and transactional liability.
Today we are talking with Gus about CFC's exciting new product launch, Transaction Liability Private Enterprise (TLPE).
Gus says, “Reps and warranties insurance is currently Wall Street and we want to make it Main Street with TLPE.” He’ll break this new product down for us and tell us:
- How TLPE creates groundbreaking opportunities in micro markets
- 5 Key TLPE coverage highlights
- 3 key points to making TLPE work
- And more
On this week’s episode of M&A Masters, we speak with Jordan Tate, Managing Partner at Montage Partners. Montage Partners, based in Arizona, is a people-first private equity firm. For 17 years they have invested in established companies across North America, helping them reach transformative growth.
Jordan tells us about his path to Montage Partners, the interesting meaning behind their company name, and how it reflects both who they are and the companies they seek to invest in, as well as:
- Key strategies for selecting investments
- The biggest driver in successful partnerships
- Which questions you should ask to assure a deal is a cultural fit
- And more
Our guest for this week’s episode of M&A Masters is Scott Hendon of BDO. Scott has been with BDO for 20 years and currently serves as the National & Global Practice Leader for Private Equity. A true icon in M&A, he brings a unique perspective as he knows both the investment side and the service side.
Today we sit down with him to talk about the recently released Spring 2021 BDO Private Capital Pulse Survey Report. The survey polled 100 private equity and 100 venture capital middle-market fund managers across the United States.
On the show, Scott talks about the key takeaways from the report and offers his insights into:
- The current key M&A drivers
- The 3 top impacts of Covid-19 on deal making
- The biggest tax concern for fund managers
- The biggest surprise in the report
- And more
Our guest for this week’s episode of M&A Masters is Tom Wells, Managing Partner and Co-Founder of 10 Point Capital in Atlanta. 10 Point Capital partners with visionary founders and operating executives to build dominant franchise brands. A foodie who loves hospitality, Tom found a way to combine those by investing in such companies as Walk-On’s and Slim Chickens.
We chat with Tom about the inspiration behind 10 Point Capital, and the meaning behind their brand name, as well as:
- The one key thing they look for when partnering with a brand
- 5 things that determine which brands will be successful
- How to master building rapport with potential clients
- Franchise investing post pandemic
- And more
On this week’s episode of the M&A Masters Podcast, we are joined by Brien Davis, Founder of Altacrest Capital. Altacrest is a private investment firm focused on consumer brands with enthusiast customer bases and centered mainly on e-commerce.
Giving clients the experience of an institutional sized team at the boutique level, Altacrest Capital’s focus on e-commerce has been even more fine-tuned in the virtual world of COVID.
We chat with Brien about his journey from big companies to lower middle markets, as well as:
- Building an investment thesis around e-commerce
- Flexibility and strengths of being an independent sponsor
- Growth in the e-commerce industry
- Risk and cost in transactions
- The e-commerce markets that will continue to grow post-COVID
- And more
On this week’s episode of the M&A Masters podcast, we sit down with Domenic Rinaldi, President and Managing Partner of Sun Acquisitions. Sun Acquisitions is an M&A advising firm specializing in both buy-side and sell-side advisory services. Domenic also hosts his own podcast, M&A Unplugged, ranked among the top M&A podcasts of 2021.
From a young age, Domenic had an itch to own his own business. In discussing why he chose the details of Sun Acquisitions, Domenic says, “Quite frankly, I love the lower middle market. They have more sophistication, more infrastructure, but they don’t necessarily have the money for the advisory groups...so they need firms like ours.”
We chat with Domenic about his path to owning Sun Acquisitions, as well as:
- The ideal client both on the buy-side and sell-side
- Encouraging empathy in M&A
- Experiences with rep and warranty
- The importance of preparation when it comes to transactions
- Using podcasts to help spread information
- And more
On this week’s episode of M&A Masters, we are joined by Ryan Milligan, Partner of ParkerGale. Guided by their principle – “products that matter, cultures that last” – ParkerGale is a small private equity firm that focuses on profitable, lower middle market technology companies and the convergence of private equity and software.
“Let’s just be transparent, and let’s just give everyone the answers to the test,” Ryan says of the empathy he has learned in the market - take the competitive advantage off the table and make it about the people.
We chat with Ryan about his journey to building a successful company and culture in ParkerGale, as well as:
- The excitement of working in the lower middle market
- The importance and art of measuring culture
- How a “Chief Worry Officer” can fit into risk decisions and dynamics
- Buyer diligence and reps and warranties
- The future of software post-pandemic
- And more
Listen now...
On this week’s episode of the M&A Masters Podcast, we sit down with Todd Dauphinais, Founding Principal and Managing Partner of Clavis Capital Partners in Dallas. Clavis Capital Partners realized that there was a better model and approach to private equity, and set out to create an investment firm focused on operations, the longer term, and on deploying capital in the most flexible and effective manner possible - the independent sponsor model.
We chat with Todd about what inspired him to build Clavis, and where the name Clavis even came from, as well as:
- The successful effects of the independent sponsor model
- The importance of strategy for growing businesses
- Building a company culture that sets you apart
- How the rapid advancement of technology can be used for market benefit
- Rep and warranty policies
- And more
On this week’s episode of the M&A Masters Podcast, we are joined by Brooke Ansel, Vice President of Prudential Private Capital. She runs a Prudential team focused in the southern United States, but her career path to the investment company was unconventional – it started with the Neiman Marcus buying team.
Brooke tells us about how Prudential is more than just a bank – it has a commitment to the lower middle market that might surprise some listeners. Prudential Private Capital focuses more on debt and minority equity, and acts as the private capital arm of the larger Prudential institution.
We chat with Brooke about what Prudential Private Capital brings to the table, as well as:
- Minority equity and mezzanine debt
- The Prudential Private Capital ideal client
- Investing in growth and being there for the long-term relationship
- Important misunderstandings to avoid
- Optimism for the M&A world Post-COVID
- And more
Our guest for this week’s episode of M&A Masters is Jon Finger. Jon is a Partner at McGuireWoods LLC in Dallas, and his practice focuses on private equity and corporate transactions. He and his partners were the first in the area of independent sponsors to create a private equity practice dedicated to independent sponsors. Jon and his partners also created “Deal-by-Deal”, a podcast that focuses on the independent sponsor community of the M&A market.
Jon says, of this independent sponsor relationship, “Many of these sellers are selling their baby – this has been, and will be, their legacy. Finding independent sponsors who are really appreciative of that is a big part of what we look for in our network for the clients that we want to be working with.”
We discuss the importance of building a network and prioritizing the independent sponsor relationships, as well as:
- The difference between independent sponsors and other buyers
- Perceptions of private equity
- Finding creative ways and best practices to partner with independent sponsors
- The ideal client of the independent sponsor community
- Hybrid models of independent sponsors and private equity funds
- And more
Our guest for this week’s episode of M&A Masters is Scott MacLaren, Partner of The Sterling Group in Houston. The Sterling Group is a private equity firm, one of the oldest in the country, and currently has $4 billion of assets under management.
Scott did not start off in private equity – he studied at the United States Military Academy at West Point, started business school after serving in the Army, and then finally found his private equity calling after working as a consultant. He started recruiting heavily for the middle market, and has now been with Sterling for seven years making investments in the industrial sector.
We chat with Scott about his path to The Sterling Group, as well as:
- The competition of the private equity market
- Establishing longevity in a growing industry
- Finding excitement in investing in “unsexy” markets
- Simplifying life-changing events
- The predictions for industrial markets and partners after the pandemic
- And more
Our special guest on this week’s episode of the M&A Masters Podcast is Grant Jackson. Grant is the Managing General Partner of Council Capital, a middle market private equity firm based in Nashville, Tennessee. Their mission is to be the best healthcare private equity firm, with their focus on investing in the right side of healthcare change.
We chat about the underlying goal of improving the healthcare system, as well as:
- Providing access to vulnerable populations, including those with disabilities
- Asking the important questions about the future of healthcare
- How Council Capital identifies businesses that will scale
- Maintaining the highest quality even when businesses grow and expand
- The difference between venture capital and private equity
- And more
Our special guest on this week’s episode of M&A Masters is Dena Jalbert. Dena is the Founder and CEO of Align Business Advisory Services, a team of former business owners, operators, and executives in offices throughout the US who bring Wall Street resources to the lower middle market. She was also recently named on Mergers and Acquisitions Magazine's list of the Top 25 Most Influential Women in Mid Market M&A.
Dena says, “When we sit down with clients, we start creating the investment thesis, helping them make that decision. We help them really analyze all their options and what they all mean, then we have it reflect their personal needs, because 99.9% of our clients are owner-operated businesses. Quality of life and success all have to be considered in addition to what opportunities the market can avail. We align those two dynamics, and then the clients will get excited about it.”
We discuss the ability for companies to grow organically, as well as:
- What happens when business owners reach their inflection point
- Helping sellers understand the science of the deal
- Cultivating relationships with investors to better serve as an intermediary
- The greatest resource for both buyers and sellers
- Women in the M&A workforce and the opportunity to offer value and see more diversity
- And more
Our special guest on this week’s episode of M&A Masters is James Darnell. James is the Managing Partner of KLH Capital, a private equity firm based in Tampa, Florida, that focuses on serving family and founder-owned, lower middle-market companies throughout the US. KLH Capital was recently recognized as Private Equity Firm of the Year by M&A Source.
“We're always thinking, ‘How do we add value? How do we help teams be more successful? How do we help them grow? And, what do we have to do to make that happen?’”, says James.
We chat about KLH’s firsthand experience with buying, as well as:
- Unlocking the potential of successful family-owned businesses
- Offering leadership development services to transition ownership
- Investing in technology to make more data-driven decisions
- Establishing a better paradigm with Reps and Warranties
- And more
On this week’s episode of M&A Masters, we speak with Emily Holdman. Emily is the Managing Director of Permanent Equity, a lower middle market private equity firm based in Columbia, Missouri, that focuses on investments for the very long term. Emily is also named as one of Axial’s thought leaders for the lower middle market.
We chat about growing organically with lead generation, as well as:
- Entering finance from marketing and what her experience brings to acquisitions
- Finding differentiation by committing to investment without the intention to sell
- The intrinsic desire to be heavily involved with operations
- Reaching sellers with a midwestern approach, by offering resources and information
- Evergreen tools and content marketing to educate sellers
- And more
Our special guest on this week’s episode of M&A Masters is John Warrillow, the Founder and President of The Value Builder System™. He is also the host of Built To Sell Radio, and the author of the bestselling books, Built to Sell: Creating a Business That Can Thrive Without You, The Automatic Customer: Creating a Subscription Business in Any Industry, and The Art of Selling Your Business: Winning Strategies & Secret Hacks for Exiting on Top.
We chat about what dangers to be aware of during a sale, as well as:
- How to strategically leverage debt
- The natural and inevitable expansion of buyers in the market
- How to maximize your value with multiple bidders
- Who to involve during negotiations in order to retain companies’ employees
- M&A is not DIY - how to keep your coveted information private
- And more
On this week’s episode of M&A Masters, we speak with Dan Phelps, Founder and Managing Director of Salt Creek Capital, based in Silicon Valley. Salt Creek Capital is a lower middle-market private equity firm that partners with talented executives to acquire profitable small businesses across the United States. Dan earned his MBA at the University of Chicago and spent time in both venture and smaller private equity investing experiences before founding Salt Creek Capital over 11 years ago.
“We're identifying businesses that we believe would be quite attractive investment candidates. We look at financials and the competitive landscape while our executive partners look at operational issues and how well their background and skill set match up with that business. When those two things come together, the operator sees an opportunity to leverage or strengthen experiences and we see a great acquisition candidate,” says Dan.
We speak with Dan about giving sellers more comfort and confidence during transactions, as well as:
- Preparing for changes in leadership with the Executive Partner Program
- The need to quickly implement new software and systems
- Creating opportunities for organic growth using the expertise of the new executives
- And more
On this week’s episode of M&A Masters, we speak with Ed Bryant, President and CEO of Sampford Advisors. Sampford Advisors is the most active investment banking firm in Canada, focusing on the lower middle market tech sector, specifically software M&A. Sampford now has offices here in Austin, Texas, and was recently named by Axial as a member of the Top 20 Thought Leaders in the lower middle market for 2020.
We chat about the trends toward software investing, as well as:
- The mindset behind the name of a company
- Sampford’s laser focus on the middle market to outperform their competitors
- Understanding the nuances of businesses in the lower middle market
- Fostering private equity relationships
- Reps and Warranties and the choices behind insuring transactions
- And more
Our special guest on this week’s episode of M&A Masters is Brett Hickey, the Founder & CEO of Star Mountain Capital, LLC, a specialized U.S. lower middle-market investment firm. Star Mountain employs a data-driven approach to provide value-added debt and equity capital to established small and medium-sized private companies, leveraging its scale-driven resources and longstanding relationships.
Brett graduated from McGill University with a finance and accounting degree and has over 20 years of investment and advisor experience, with over 15 years specifically focused on the U.S. private small and medium-sized business marketplace. He chairs Star Mountain’s Charitable Foundation which supports the career development of women, veterans, and athletes, as well as health & wellness initiatives, including cancer research.
We chat with Brett about the surprises that have come out of the pandemic, as well as:
- The influence of growing up in a small town on his company today
- Learning from those who are already immersed in the financial culture
- The Utility Curve of Money
- The North Star of the company and their guiding values
- Impact Investing
- And more
On this week’s episode of M&A Masters, we speak with Peter Lehrman. Peter serves lower middle market owners, acquirers, and advisors as CEO of Axial, the largest trusted online platform used for safely buying, selling, and financing private companies. Over the last 10 years, Axial has established a single well-known platform that business owners and deal professionals alike trust to discover and connect with new transaction partners.
Peter says, “The whole idea behind Axial was to develop a trusted platform on the internet where buyers and sellers of lower middle market businesses can find, connect with, and be found by one another at the right points in time, and on the right opportunities.”
We chat about the origins and philosophy of Axial as well as:
- The big differences between the lower middle market and the venture capital community
- The common practices of evolving out of the lower middle market
- 10,000+ PE-backed portfolio companies looking for an add-on target
- Navigating the overabundance of choices in the LMM
- Trends to watch in 2021— retail 2.0 and the rise of independent sponsors and individual buyers
- And more
On this week’s episode of M&A Masters, we’re joined by return guest, Codie Sanchez. Codie is the managing director of Entourage Effect Capital Partners and one of the most sought out speakers in the cannabis business. She also co-leads Unconventional Acquisitions, an educational resource making the buying of businesses accessible to anyone willing to put in the work.
Codie says, “If you have the mindset to be an entrepreneur and to get to go and grind and build your own thing, you have the ability to be a deal maker, and to buy businesses, period.”
We chat with Codie about the abundance of opportunities to buy small businesses right now, as well as…
- The commoditization of buying businesses
- The timeline of businesses on the market
- The Laundromat Model
- The 9 Steps to Buying a Business, including the mindset required to close the deal
- The magic of “Deal-maker glasses” and seeing opportunities everywhere
- And more
On this week’s episode of M&A Masters, we speak with Jessica Ginsberg, Director of Business Development for LFM Capital. Leaders for Manufacturing Capital, or LFM, is a Nashville-based private equity firm founded by operators and engineers, investing in manufacturing companies in the US and Canada. Jessica manages business development and investment sourcing activities, and brings over 13 years of experience in the private equity, investment, and commercial banking sectors in a variety of roles in addition to earning a BS in Finance and Accounting from Georgetown University.
“It's a more complicated logistical process to get a deal done virtually, so I think you have to take a deep breath and just remember that there are a lot of parties involved that have different comfort levels. And, during these wild times, it might take another couple weeks to get a deal closed, but just remember what the finish line is and work hard to get there”, says Jessica.
We chat about experiencing the manufacturing renaissance, as well as:
- Offering creative solutions for small business owners
- Honoring the expectations of manufacturing owners
- Overcoming obstacles to building trust online
- Virtual manufacturing meetings and remote decision making
- And more
On this week’s episode of M&A Masters, we speak with Sean Edmondson and Adam Deutsch. Sean is Vice President at Tecum Capital, a middle market multi-strategy private equity investment platform, and Adam Deutsch is the Director, Co-founder, and CFO of NewHold Investment Corporation, a holding company and private investment firm.
Sean says, “Let's buy companies that truly fit the mold of what we're trying to build, and not try to force a financial engineering situation.”
We chat about upholding a family legacy, as well as:
- Forming strategic partnerships
- The precision manufacturing and machine market
- Structuring responsibly for sustainable growth
- Transparency and trust for better transactions
- And more
On this week’s episode of M&A Masters, we’re joined by special guest, Sean Alford, Senior Vice President of Corporate Development at J2 Global, an internet information and services company that includes IGN, Mashable, Humble Bundle, and more across digital media and cloud services segments.
Sean says, “It's pretty systematized when you handle the volume of transactions that we handle, you figure out what works and what doesn't work. And through the course of the 180 plus transactions that we've done, we've figured out the playbook that works. And there are different playbooks that work for different situations. We've got these different playbooks that we're able to slot into different scenarios, and it helps to have had the reps and to have made mistakes and learn from them and improve the process as a result.”
We chat about applying strategies to various transactions, as well as:
- The ideal targets for the different J2 global segments
- Pressing pause at the start of the pandemic to clarify processes
- Warranty policies on transactions
- Fourth quarter 2020 and first quarter 2021 expectations
- And more
On this week’s episode of M&A Masters, we speak with Suzanne Yoon, Founder and Managing Partner of Kinzie Capital Partners, a private equity firm based in Chicago. Chicago Mergers and Acquisitions Magazine named Suzanne 2020’s most influential woman in mid-market M&A, and she’s also been recognized by The Wall Street Journal as a top female dealmaker, shaping private equities both present and future. Just recently, Kinzie Capital Partners was honored by the Private Equity Women Investor Network (PEWIN) as the North American female-founded firm of the year for 2020.
“Really the start of Kinzie was based on an investment thesis around taking companies that were necessary for the economy, were going through some type of transition, and maybe had some age on them with regards to operations and technology, and being able to handhold, and through governance and technology initiatives, create more efficiencies, and also make sure that the infrastructure is in place to really take a company to the next step and think about growing. That was really our thesis,” says Suzanne.
We chat about Suzanne’s journey in the financial sector, as well as:
- Kinzie’s commitment to the lower-middle market
- The Kinzie Formula: av=f(K+O)T© — wherein accelerated value creation (av) is a function (f) of capital and operational improvement (K+O), compounded by technology (T)
- Her experience with rep and warranty insurance
- Her perspective on the future for women in finance
- And more
On this week’s episode of M&A Masters, we’re joined by special guest, Peter Lyall, Group Director of Strategy at Fifth Ring, a marketing communications, or marcomm, company with locations in the Americas, Europe, and Asia. They promote the ultra-simple message of helping B2B companies sell more stuff and build better brands. Peter’s goal during this episode is to shed some light on the role of marcomms during M&A transactions and to explain why this is often a blind spot during the acquisition process.
“There are quite a few skeptics about the role of marcomms within an M&A transaction, even to the point of saying that the brand isn't important,” says Peter. “So, I did a little experiment: In a room of 50-60 people, I asked everybody to put up their hands if they had chosen their wristwatch because of the brand. They all had. Then I asked them if they’d chosen their car because of the brand. They all had. These people were very brand savvy, but couldn't quite transition this thought, this appeal, this attraction of a brand, from the consumer environment to the B2B environment, which is where they're living on a day to day basis.”
We chat in detail about:
- Legacy issues and the challenge they pose to marcomms post-acquisition
- Implementing cultural values and brand messaging
- Utilizing employees as brand ambassadors in messaging
- Why cultural integration is a blind spot in M&A
- Structuring multi-brand portfolios
- The power of 3— Where 3 words can change everything
- The future of energy
- New tools to measure the intangible
- And more
On this week’s episode of M&A Masters, we’re joined by special guest Heather Hubbard, Managing Partner of Valesco Industries, a lower-middle market firm based in Dallas, Texas. This past May, Heather was named D CEO’s Private Equity Investment Professional of the Year, and in a market like Texas, that’s no small achievement.
“I think, coming in, we represent what we're oftentimes looking at in portfolio companies and potential prospects. There's a very diverse group of people working at the majority of these companies, so when we can reflect that back to them, and relate to them each in their own way, I think that it gives us an advantage,” says Heather about the unique perspective of women in M&A.
We chat about Heather’s journey from running a company to private equity, as well as:
- What women bring to the table in M&A, specifically in private equity
- Team dynamics with women in M&A
- Why women are underrepresented in private equity
- And more
On this week’s episode of M&A Masters, we speak with Adam Cook, managing partner and Chief Investment Officer of Culper Capital Partners. Based in Norwood, New Jersey, Culper Capital Partners invests debt and equity in middle-market companies that seek true partnership solutions that go well beyond the capital deployed. Culper Capital Partners is also a newly minted private equity firm, which is indicative of the growing body of private equity out there.
“At Culper, we're investing in middle-market businesses. We focus on things that we can see and touch. We will make debt investments where we're riding along with a BDC or a traditional lending company, but we really focus in on the platform equity side where we're putting our own money to work, along with our business partners, to find bespoke opportunities where it's well beyond the capital deployed,” says Adam.
We chat about what led Adam to a career in private equity, as well as:
- Why private equity is often viewed cynically
- Incentivizing those involved in an M&A deal from a cultural and a value perspective
- Culper’s ideal profile for an investment target
- How COVID could affect M&A moving into 2021
- And more
What motivates Mark Addison, CEO of X Rocket.io? He’s seen too many entrepreneurs, especially first-timers leave money on the table when they exit.
His firm helps optimize key valuation drivers during M&A negotiations to maximize the money owners and founders take home.
In one case, he and his team were able to reengineer a $30 million offer… into a $100 million offer. We talk about the three things they did to make it happen and the audits they perform on clients, as well as…
- The key metrics that predict higher valuations
- Acquisition trends with PE firms you should be watching
- Two insurance products you should have in place for any deal
- The biggest misconception many founders hang on to
- And more
Mark Gartner is head of investment development at private equity firm ClearLight Partners LLC, which is dedicated to the lower middle market.
Over his years in the industry, he’s seen a sea change in how PE firms go after potential targets, from “smiling and dialing” to using CRMs and data to guide their strategy.
He talks about other elements of his approach to potential acquisitions, including how he always has a value proposition in mind when making contact.
Part of that strategy derives from the fact that many of the ClearLight team have actually run companies and know the reality of operating a business – they’re not investors working in a vacuum.
We talk about that, as well as…
- Why 75% of companies utilize rep and warranty insurance
- The reason they focus on lower middle market companies
- The ideal target profile they’ve identified – and how it’s evolved over time
- Where he and his partners see the greatest opportunity right now
- And more
Back in May, Sander Zagzebski maintained that COVID-19 was not a black swan. He even saw a silver lining in the pandemic in the form of opportunity for savvy players in the M&A world to make significant gains.
In this episode we talk about his original prediction and how it has manifested today.
Sander, of Greenspoon Marder LLP, says the current economic crisis is similar to what happened in 2008/09 but also quite different in key aspects, including the cause and how the presence of trillions of dollars of dry powder means there is actually money to invest this time around.
Sander shares how he’s advising his M&A clients right now, and we also talk about…
- What he thinks will happen in Q3
- Why companies can’t “wait out” the pandemic – and what they must do now
- How to account for legal and regulatory uncertainty going forward
- A unique insurance product – perfect for the pandemic – that transfers risk
- And more
As a veteran M&A lawyer in the Bay Area, Louis Lehot has advised many public and private companies, VCs, investors, and more on forming, financing, governing, and buying and selling companies.
Formerly with DLA Piper, Louis founded his boutique law firm, L2 Counsel, to serve the unique needs of entrepreneurs and investors, specifically those young founders in the early startup phase.
He talks about that work as well as the changing role of data, technology, and IP in deals.
Tune in to discover…
- How rep and warranty insurance has changed the game
- Avoiding “extra” tax liabilities as a seller – and how counsel can help
- The biggest mistakes companies and founders make with IP
- What the future of M&A looks like in a post-pandemic world
- And more
On this week’s episode of M&A Masters, we speak with special guest, Laura Simms. Laura handles Business Development at Strait Capital, a fund solutions provider offering a full range of financial solutions to hedge funds, private equity, family offices, and alternative asset managers. From their Dallas headquarters, Strait delivers fund administration, middle office operations, CFO suite services, and regulatory compliance services just to name a few.
“We really view ourselves as a partner to our clients,” says Laura. “We want to feel like an extension of their team. You know that we're just a couple offices down, so we've really earned the reputation for being the trusted partner of choice for private investment advisors and managers who are seeking that quality, personalized service provided by a team of experienced professionals. Our mission has always been to protect investors and reduce risk in the global financial system.”
We chat more about Strait Capital, as well as:
- The importance of partnership
- Common challenges for clients in the middle market
- What type of clients Strait seeks and why
- M&A trends in light of COVID-19
- And more
Asset-based lending is one of the best ways for mid-sized companies to get to the next level.
And the role of credit insurance, which has vastly improved since the days of the Great Recession, is often overlooked… yet will be vital to recovery after countries – and the companies in them – exit lockdown.
Jo Bennett-Coles, managing director of FGI Finance, a global leader in domestic and international finance for mid-sized companies, gives us the lowdown on credit insurance, including when you need it, how it works, and the many varieties of coverage available.
This type of coverage gets a bad rap in some circles. Jo dispels the myths and offers some best practices.
Tune in to find out…
- Why credit insurance is a powerful tool for private equity
- Services credit insurers provide that will surprise you
- How credit insurance fits in with M&A
- The biggest mistake companies make with credit insurance
- And more
Communication is vital during an M&A transaction, on both sides, externally and internally. Clarity is a PR firm that works to help companies get through the deal, from media relations to crisis management.
It can be a stressful process… and certainly not the time to “wing it.”
As Alex explains, they use a change management model called ADKAR to shepherd organizations and people through times of transition, get buy in, and make sure new policies and procedures “stick.”
We get into detail on that, as well as…
- Strategies for integrating vastly different company cultures (and customer bases)
- COVID and post-COVID communications strategies
- What they do when deal details leak
- How they balance confidentiality and the need to share information
- And more
Clarity is a public relations firm that offers communications strategy, positioning, marketing, content creation, and other services to companies in the fast-moving world of global business.
As Global COO, London-based Alex MacLaverty guides the growth of this ambitious agency. Part of that growth has been through recent strategic acquisitions of complementary PR agencies.
Alex explains why they chose those specific agencies, how it will change their business, and why they had never met the team at one of the firms before the sale.
We also talk about how they handled integrating two teams when they bought the other firm so that they had a running start when the deal was signed.
In both cases, Alex and her colleagues were guided by a change management model known as ADKAR.
In our talk, she explains the five parts of that strategy and why it’s key to follow in times of large-scale changes in an organization to ensure all the key players have the right mindset going forward.
Tune in for all the details on that, as well as…
- The biggest drivers of their strategic acquisitions
- How they prevented client attrition
- Why they don’t forget the people side of acquisitions – and how that impacts operations
- What they do to get buy-in at a “deep level” from new team members
- And more
On this week’s episode of M&A Masters, we speak with Christie McFall, Business Development Director of Great Range Capital. Based in Mission Woods, Kansas, Great Range Capital brings a unique combination of institutional-grade experience and Midwestern values to middle market and lower-middle market firms in the Heartland.
“Our whole goal is to take a successful business that has a strong management team that is looking for some sort of succession plan, if it's taking equity out of the business and slowing down, or just growing that business to the next level because they can't. That's one of the things that I find appealing from these businesses in the Midwest is you get to find somebody who's talented, took an idea, and grew a successful company. But when they can say, I just don't know how to get to the next level, and I need some help, those are the types of relationships we're looking for,” says Christie.
We chat more about Christie’s career and Great Range Capital, as well as:
- Helping already successful businesses in the lower-middle market grow to the next level
- Rep and warranty insurance
- Upcoming trends in M&A
- The importance of acknowledging the emotional aspect of selling a business
- And more
On this week’s episode of M&A Masters, we chat with Ben Mimmack and Andy Waltman, Director of Investor Relations and Director, respectively, of private equity firm Baymark Partners.
Ben got his start in banking in London before coming to the US to attend SMU in Dallas. After completing business school, he went on to work in finance at American Airways before ultimately being brought on at Baymark Partners. Andy got his start in accounting, earning a CPA before moving into private equity at Energy Spectrum. He also went on to attend SMU, where he earned an MBA before being presented with the opportunity to work with Baymark.
We chat about private equity and working in the lower middle market, as well as…
- What a private equity firm can do for an owner-founder
- How rep and warranty insurance is changing
- Opportunities for minority investments
- How Baymark is going about navigating the uncertainty imposed by COVID-19
- And more
Drew Caylor, managing director, and the rest of the team at private equity firm WILsquare Capital have a passion for helping lower middle market companies grow bigger and better.
He says it’s all about the leaders at these companies and their commitment to making a difference to their people and the communities they’re in.
At WILsquare, they help create value through hands-on work with carefully selected businesses. It’s a level of service you won’t get at “brand-name” PE firms.
We take a deep dive into that topic, the post-pandemic M&A scene, and…
- The first place they look for future investment in a business
- 3+ questions they ask about every company they work with
- Why they view Representations and Warranty insurance as imperative
- Their management philosophy and how it differs from other PE firms
- And more
Trevor Crow works in the M&A space, specializing in what he calls an “underserved” area: lower middle market companies. He says bigger firms chase bigger deals because of high overheads and other internal costs.
But as a boutique firm, he’s able to work closely with owners and founders of what are often family-owned businesses.
Trevor says Buyers and Sellers at this level are savvy and smart – a pleasure to work with.
He talks about the biggest benefits a small firm like his can offer companies, including quick response times. Tune in to get all the details on that, as well as…
- The last person you should hire to shepherd the sale of your business
- Strategies for balancing risk and the cost of appropriate insurance
- One of the most “dangerous” potential liabilities for companies today
- The biggest obstacle to closing a deal – and how to overcome it
- And more
When it comes to M&A, lower middle market companies often get overlooked and overcharged by big institutions. But Cascadia Capital is an investment bank that specializes in working with this underserved market.
Chairman and CEO Michael Butler explains how they help “stage the house” for a company about to go to market, including the financial, legal, and operational aspects, among others.
We also talk about Michael’s unique take on the current financial crisis, including the key differences between what’s happening today and what happened in the Great Recession of 2008 and 2009. He says he’s optimistic about a quick turnaround… including a significant increase in M&A activity this summer.
We go into depth on the reason for that pickup, as well as…
- The underlying factors that make the quick upturn in the economy likely
- Personal financial planning an M&A deal – and how to minimize tax obligations
- What companies should be doing right now in the downturn to spot opportunity
- The role of Representations and Warranty insurance – and why it’s become a must-have in deals today
- And more
In today’s episode of M&A Masters, I sit down with Gaurav Bhasin, managing director of Allied Advisers-- a Silicon Valley-based investment banking firm with team members in Irvine, Tel Aviv, and Mumbai. Allied Advisers specializes in M&A advisory services, or middle-market companies, particularly in the technology space.
Gaurav and I met when he engaged Rubicon to provide rep and warrant insurance for a client of his that was being acquired by his commercial partner. Ultimately, the deal closed, but what stood out to me and the reason Gaurav is on the show, were the lessons on the role of an investment banker in an M&A deal.
We’ll chat with Gaurav about what it’s like to work in the middle-market, the types of services he offers that set him apart, as well as…
- The common themes of M&A processes
- How he manages to reach out to 100+ people per deal
- Gaurav’s ideal client profile, and how he narrowed it down
- When to reach out to an investment banker in the M&A process
- And more
We have a very exciting show for you this week! In this episode of M&A Masters, we’re joined by Codie Sanchez, the managing director of Entourage Effect Capital Partners and one of the most sought out speakers in the cannabis business.
Entourage Effect is a unique private equity firm as it was the first to focus exclusively on the cannabis industry. Since 2014, Entourage Effect has invested over 100 million dollars in over 40 companies!
We’ll chat with Codie about how she got into the cannabis industry, what sets Entourage Effect apart from other private equity firms, as well as…
- The entourage effect
- What potential investors should ask about cannabis
- The way cannabis is viewed as an investment
- What makes cannabis different than other agricultural products in terms of due diligence and the M&A process
- Entourage Effect’s ideal target market
- And more
In today’s episode, we sit down with Tash Meys and Viv Conway, who provide consulting and execution services dedicated to fast-tracking a company’s Instagram growth and engagement.
“I think if you’re not using social media, it can be overwhelming with which platform to choose,” says Tash, when asked about what Instagram is and how it’s different from other mediums.
We’ll talk with Tash and Viv about how to learn about Instagram, why Instagram is an important business tool, and…
- The true difference between Facebook and Instagram
- How to create trust and engagement with your brand on Instagram
- Why Instagram is great for targeting individuals in the financial sector-- such as private equity, brokers, investors, and business owners
- Why you need an ideal client profile
- The impact of good content, as well as…
- The importance of monthly analytics
In today’s episode, we sit down with Jordan Selleck-- the founder of 51 Labs. 51 Labs provides digital marketing services to the lower-middle market and were founded based on a string of failures that blossomed into success. Our guest, and 51 Labs, focuses on generating quality and engaging video content for their clients through using original ideas and avoiding “templated” content.
We’ll chat about why LinkedIn doesn’t work for 51 Labs’ target market, the biggest mistakes people make when marketing on LinkedIn, and how to be front of mind to the advisor community…
As well as:
- Being the go-to marketing firm for the lower-middle market
- LinkedIn engagement strategies
- Using Vlogs in your marketing strategy, and
- Sourcing deals from LinkedIn
In today’s episode, we sit down with Bud Moore, who is the founding partner of Valesco Industries-- a lower-middle market private equity firm in Dallas, Texas. We love everything Valesco is doing, especially because there is a large need for their expertise, guidance, and capital in the lower-middle market.
“Our ideas are muscle, and so we put that behind companies to help them grow and become a bigger and better version of what they were,” says Bud on the topic of how Valesco came to be.
We’ll chat about Valesco’s primary markets, value-added distributions, and…
- Moral and ethical commitments
- Banishing preconceived notions
- M&A trends
- Rep & Warranty
In today’s episode, we’re joined by Vania Schlogel-- the founder and CEO of Atwater Capital, who focuses exclusively on the media and entertainment sectors.
In our chat, Vania shares with us the fine line between being able to have the formal, polished side of the business in conjunction with the creative and operational side.
Vania also chats about the areas she specializes in, and…
- Streaming services
- The emergence of technology in the media and entertainment world
- Her ideal client profile (and why it matters), and
- Building relationships with managers and founders
The energy industry is going strong so far in 2020… and the outlook for the future is good as the industry responds to sustainability initiatives and reacts to market pressures.
Bart Vossen of Houston-based SGR Energy shares how upcoming regulations are impacting the industry, as well as why the company looks beyond U.S. borders for most of its customers.
We also chat about mergers and acquisitions in the industry, talking about some prime targets SGR considers and how they conduct acquisitions, as well as where the company is headed in 10 years – they have some big goals, for sure.
Tune in to find out…
- The biggest obstacle to growth they’re working on this year
- The product mix that sets them apart from the competition
- The difference between upstream, midstream, and downstream
- Energy trends in the Caribbean and Central America
- And more
There comes a stage in every company’s life where organic growth is no longer enough. A strategic acquisition is the only way forward.
But for middle-market companies, this is a tricky proposition. The management team is running the business… they don’t have time to research potential targets, negotiate price and terms, and all the rest that goes with an M&A deal.
Pejman Makhfi, the founder of Silicon Valley-based Synrgix, which provides a process management system to support growth through acquisition for middle-market companies, has a solution. And it’s vital that it’s implemented now because data shows that mid-market companies that aren’t acquisitive are likely to fail.
Tune in to find out…
- One thing any CEO or CFO must know to manage M&A deals
- How to manage ongoing M&A activity with minimum impact on resources
- A strategy to balance organic growth and growth through acquisition
- Why lack of resources doesn’t have to mean stalled growth
- And more
This is Part 2 in a two-part series about a recent M&A deal in which PE firm Broadtree Partners purchased SAAS company, RedCAT Systems, which provides specialized HR services for major corporations like Uber, NYSE, and LinkedIn.
This time we’ll be covering the Buyer’s side of the transaction with Rob Joyce from Broadtree. (Be sure to check out my conversation with Steven Epstein of RedCAT here.)
Importantly, Representations and Warranty insurance was a crucial part of this deal. Broadtree wasn’t too thrilled about having this coverage in place at first, but, as Rob notes in our conversation, they did eventually come on board.
We talk about the initial reluctance to get R&W insurance… what changed their mind… and how this coverage changed the dynamics of the deal dramatically, as well as…
- How the due diligence process was delayed because of two key factors (this is something unique to this size of company and industry)
- The total cost of Rep and Warranty coverage – how it breaks down and who pays for it
- Why they saw RedCAT as a worthwhile acquisition (great clues for startups here)
- The sticking points that delayed the deal along the way – and how they could have been avoided
- And more
The first of a two-part series of a real-world M&A transaction. First up, I’m talking to Steven Epstein, the founder of RedCAT systems, a Colorado-based SAAS company involved in HR and compensation solutions for clients like LinkedIn, Uber, NYSE, and many more.
They were recently funded by PE firm Broadtree Partners.
Specifically, we’ll be looking at how Representations and Warranty (R&W) insurance played a key role in the transaction. What’s interesting is that RedCAT would not have been eligible to use R&W coverage to be reimbursed by a third-party – the insurer – if there had been any breach in the Seller’s reps.
We’ll talk about why insurers were willing to play ball now and how that could impact whether or not you can use R&W insurance on your next deal, as well as…
- Why one of their partners insisted on R&W insurance – and the Buyer said yes
- What they did to find a Seller who matched their philosophy
- The biggest thing he would have done differently prior to the sale
- The top benefits of R&W coverage and the surprising impact they had on the deal
- And more
In the world of tech, a lot of companies, especially the smaller ones and startups, their financials are quite opaque. You never know on the surface if one is about to go under or go unicorn.
Austin Leo, VP of USI Insurance Services, highlights a specialized type of insurance, once reserved for large manufacturers, that can help larger companies identify who to do business with… especially those with the least risk of going under before they pay their bills.
And that’s just one benefit.
It’s a great example of insurance coverage that adds tangible monetary value… even when you don’t have a claim. Austin walks us through the many ways these policies help and how they work in real-world terms.
Tune in to find out…
- A strategy to prepare for a gap in your accounts receivable
- A “backdoor” way to get information on potential clients
- How to increase sales with insurance
- Why lenders love this insurance – and are ready to spread the love to you
- And more
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After culling through a decades-worth of data on IT services companies, Colin Campbell, Associate Director at Livingstone Partners, sees potential for a market downturn on the horizon.
He shares what trends he sees that point to this potential slowdown, as well as how Buyers and Sellers approach M&A deals to account for it.
Colin says that Strategic Buyers are being quite selective in companies they target, and tend to go after the company aggressively once they “fall in love,” wanting to move quickly and are willing to pay a premium.
This is in contrast to Financial Buyers (like private equity PE firms) who may have a wider appetite for acquisition targets, but factor into their analysis the possibility that values may level-off or decline due to an economic slowdown or other factors – they are mindful of the potential downside when pricing a target.
In our conversation, we take a deep dive into the above concepts, as well as…
- The type of revenue that is most attractive to Financial Buyers
- What drives real value in data processing companies;
- Who’s buying IT services companies today;
- The disconnect between Buyers and Sellers in the IT services space;
- And more
Acquisition can be the ideal way to experience fast growth as a company. But there’s no need to stay within your home country when looking at potential target companies.
Jacob Whitish is the San Francisco-based vice consul for financial services for the U.K.’s Department for International Trade. And he doesn’t just work with U.K. companies looking into the U.S. but also American companies looking to expand in the other direction.
We chat about the unique challenges – and benefits – of these sorts of cross border acquisitions, including…
- Why Silicon Valley is an attractive market (and why Boise or Boston could be a better fit for certain companies)
- The most attractive U.S. acquisition targets for companies looking to accelerate into new markets quickly
- What win-win deals in multinational expansion look like
- Matching resources and business goals to a geographic region
- And more
When we usually see cross-border deals, it’s a U.S. company acquiring a foreign business. But increasingly the reverse is happening, says Craig Lilly, corporate partner at the Palo Alto office of Baker McKenzie, and there are three primary drivers for that trend.
But cross-border deals with foreign buyers aren’t without their pitfalls, especially with newly enacted regulatory and anti-trust and merger controls – at that’s just the start. Just look at what is happening with Chinese telecom giant Huawei.
Cross-border M&A is far from a done deal. Foreign companies are still acquiring U.S. companies, says Craig, but just engaging experts like his company to shepherd the transaction.
We talk about where cross-border M&A is headed in 2019 and beyond, as well as…
- The two biggest concerns in cross-border deals
- How changes at CFIUS have vastly changed the playing field
- When a cross border deal isn’t really a cross border deal – and why
- How American companies are taking advantage of Asian company’s hesitancy
- And more
What happens when a minority of shareholders don’t agree to the terms to acquire or merge their company? The terms could change drastically… or the deal could fall apart completely.
But, says Nate Gallon, managing partner of the Silicon Valley office of Hogan Lovells, there’s a way to avoid that fate… because the shareholders will be contractually obligated to vote “yes” on the sale. This provision is well-known in the world of Private Equity and Venture Capital but not elsewhere.
Nate talks about how to lay the legal groundwork to make this strategy work, as well as…
- Why you have to look at the Liquidation Waterfall
- How to ensure that small shareholders don’t sabotage a closing
- The best person to provide you with this provision (if you don’t have it already and don’t even know)
- The dangers of appraisal rights claims
- And more
When you hear the word drone, you might think of the military uses, the proposed Amazon.com delivery drones, or those jokers who shut down airports by flying drones around runways.
But drones are serious business, says Gretchen West of Hogan Lovells in Silicon Valley.
There are little-known commercial uses of drones that save time, money, and lives that will only expand in the near future… as long as government regulations can keep pace with development of new technology.
The industry is maturing quickly, as is M&A activity in this space. We talk about that, as well as…
- The many layers of technology integrated into drones… and how that creates opportunity for other companies
- The growing list of unexpected industries that can benefit from drones
- More than pictures and video – the ways drones collect data you’ve never heard about
- Where the FAA and other government agencies stand on drones – and how it’s changing
- And more
It’s a tight talent market out there in the technology industry. And that’s especially for all C-suite positions right now, says Stephen Kuhn, partner at Advantary. Yet companies, especially startups, are facing pressure from their boards to hire senior executives.
And that means they’re sometimes rushed into bad hiring decisions.
Stephen talks about a short-term solution to this issue that can have long-term positive impact on companies facing these challenges, as well as…
- A strategy for getting breathing room to recruit the right people, while still achieving important milestones in the company’s growth.
- The incubator marketplace that brings together corporate M&A and startups
- What companies doing cross border deals need in their back pocket
- A little-known decision-making processes to work through tough issues
- And more
The politics of healthcare is a mess in this country, as you know.
But Matthew Hanis, executive producer and host of the Business of Healthcare, is more interested in practical measures for incrementally improving a system that is the most expensive in the world and doesn’t offer a great quality of care in exchange.
We also talk about the M&A landscape in healthcare, including the trend towards increasing vertical integration, as well as...
- How to balance profits with patient care
- The key difference between a single payer system and universal healthcare
- The 3 biggest upcoming regulatory reforms to keep an eye on
- The largest contributor of waste in healthcare
- And more
M&A activity has been heating up in the last few years… and 2019 is no exception. At the same time there has been a lot of movement in the healthcare sector, but due to its unique nature, special care has to be taken when dealing with acquisitions in this industry.
Patrick Krause, a director at investment bank MHT Partners focused on healthcare, has shepherded a lot of deals in this sector. He shares how he helps turn M&A transactions into win-win-win deals, where both Buyers and Sellers are happy – and patients benefit, too.
Tune in to find out…
- How to bridge the gap between medicine and business
- The extra steps you must take to invest in certain healthcare-related businesses
- The four “sectors” in the healthcare industry – and how to handle each
- Ways to increase profits but also quality of care to patients
- And much more
What did due diligence in M&A deals look like before virtual data rooms? Teams of lawyers and other experts combing through paper files stacked floor to ceiling in a conference room.
With the virtual data room, explains Darryl Grant of Toppan Merrill, those days are long gone.
Today, sharing a company’s financials, contracts, and other pertinent information with potential buyers is a simple matter of uploading some documents and sending an email.
We talk about how this speeds up the process and ensures transactions move more quickly through the marketplace, as well as…
- The remote document kill-switch
- A positive by-product of the Enron scandal
- Using data rooms to get “actionable intelligence” on prospective buyers
- Where IPOs are trending in 2019
- And more
Many technology companies are sitting on an untapped resource that could add 5%, 10%, 20%, or more to their company’s value, says Dr. Elvir Causevic, managing director of Houlihan Lokey’s Tech and IP advisory department.
Problem is that if you wait until you have an M&A deal… all that value is lost to you – it automatically goes to the buyer.
Elvir and his colleagues have been innovating a new way to make sure companies, especially those in Silicon Valley, avoid that fate. And we go through that process, step-by-step. It’s actually pretty straightforward once you know the trick.
Check our discussion to find out…
- Why even “unsuccessful” R&D can be valuable
- What your IP department has been missing How to avoid the Lucky Buyers Club
- Ways to cash in on patents… without being a “troll”
In an era when few companies go IPO and there are even fewer unicorns, M&A is more popular than ever, says Mihir Jobalia, a veteran of KPMG’s Silicon Valley operation.
In fact, among VC-backed companies in the last 10 to 15 years, he estimates that more than 90% exit through M&A. And business in the last few years has been especially good.
We dive deep into what makes the current environment so appealing to M&A, who the big players are, and best practices for companies hoping to exit with this strategy.
Check out the interview to find out…
- The top 3 factors for the current strong M&A market
- Two things founders can do now to attract potential buyers
- Why the Rule of 40 is so important to PE firms – and how to achieve it
- The financial investors want to see before they commit to a deal
- And more
With typical insurance covering your home or car, it can be like pulling teeth to get a claim paid. Unfortunately, that leads to skepticism about all types of insurance.
But in the experience of my guest Joe Finnerty, a litigation partner with law firm DLA Piper in New York City, companies are ready and willing to pay claims for Representations and Warranty insurance.
It’s one of the newest – and most effective tools – being used in mergers and acquisition deals today.
Insurance companies actually pay claims, says Joe. You, as the buyer, just need to help them out a bit.
Check our conversation to find out…
- Why you should be an “open book” with your insurer
- How to get your claim paid faster, with the maximum amount
- The “education” you need to give your insurer for them to pay a claim
- Ways a broker is an essential part of your claim
- And more
Silicon Valley is obviously on the forefront of technology. What’s not as clear is how to keep track of trends, new companies, key players, and all the rest, especially since it’s always changing.
That’s why Bob Karr created LinkSV, a Valley-centric, comprehensive, and constantly updated social network. We talk about how to get the most out of LinkSV, whether you’re a service provider, startup looking for an angel, an investor looking for an acquisition, and beyond.
Bob’s been in the Valley for decades, so we also talk about…
- Spotting “hidden” clues that a company isn’t worth acquiring
- 4+ hot tech sectors that are getting even hotter
- How today’s market differs in key ways from the Dotcom era
- Employment trends to watch out for – outsourcing is just the start
- And more
In today’s episode we shake things up and put Patrick Stroth, the regular host and founder of Silicon Valley-based Rubicon Insurance Services, in the hot seat for an exclusive interview with business consultant Steve Gordon.
Patrick is on a mission to tell investors, founders, corporate development teams, attorneys, and anyone else in the world of mergers and acquisitions about a unique insurance product that can save tens of millions of dollars in a transaction and speed deals to completion, while reducing the risk for Buyer and Seller.
If this insurance is in place deals are 8 times more likely to close.
It’s been used in 1/3 of M&A deals over $25 million in value in recent years. Patrick says that once more people understand the benefits that number should jump.
We get into the details on how this insurance works, including…
- The alternative to “over buying”
- The only 4 data points you need for a quote for this insurance
- How to manage today’s seller’s market
- What size deals are eligible
- And much more
Samir Shah has a unique pedigree in the M&A world. He was previously an owner whose company was successfully sold. And these days he’s with Silicon Valley-based pre-series A venture capital firm Cervin Ventures, specializing in helping founders in the enterprise technology space.
Based on his experience Samir has come up with eight “one-liners” (i.e. rules or words to live by) that should guide every startup.
The first one is a question every entrepreneur should ask before even thinking about starting a business.
You get all the details, and, along the way, find out…
- How the best product could be ignored without this one element
- Where to find your best customers (you already know, even if you don’t realize it)
- Why you shouldn’t try to “sell” - do this instead
- The mindset shift you need to go from “startup” to “business”
- And much more
Many technology companies are sitting on an untapped resource that could add 5%, 10%, 20%, or more to their company’s value, says Dr. Elvir Causevic, managing director of Houlihan Lokey’s Tech and IP advisory department.
Problem is that if you wait until you have an M&A deal… all that value is lost to you – it automatically goes to the buyer.
Elvir and his colleagues have been innovating a new way to make sure companies, especially those in Silicon Valley, avoid that fate. And we go through that process, step-by-step. It’s actually pretty straightforward once you know the trick.
Check our discussion to find out…
- Why even “unsuccessful” R&D can be valuable
- What your IP department has been missing
- How to avoid the Lucky Buyers Club
- Ways to cash in on patents… without being a “troll”
Hackers, corporate espionage, identity theft, ransomware…
Any company connected to the Internet (and that’s all of them) is vulnerable to these attacks, says Jim Reilly, founder of Stonepine Advisors.
These days, without a cybersecurity strategy, your business’s vital financial data, corporate secrets, and customer information is there for the taking.
Not only can a breach impact profitability… but it can also put a serious damper on any upcoming or ongoing M&A deal.
But we’re not talking simple anti-virus software for your PCs and putting a password on your WiFi.
You have to get hackers working for you, says Jim. And that’s just the first step.
We cover all the ins-and-outs of cybersecurity in 2018, with a focus on how it intersects with M&A, including…
- What cyber due diligence looks like
- Using “pen-tests” to find soft spots in your networks
- What industries need cybersecurity the most
- A specialized insurance covering cyber issues – and who qualifies
- And more
In an era when few companies go IPO and there are even fewer unicorns, M&A is more popular than ever, says Mihir Jobalia, a veteran of KPMG’s Silicon Valley operation.
In fact, among VC-backed companies in the last 10 to 15 years, he estimates that more than 90% exit through M&A. And business in the last few years has been especially good.
We dive deep into what makes the current environment so appealing to M&A, who the big players are, and best practices for companies hoping to exit with this strategy.
Check out the interview to find out…
- The top 3 factors for the current strong M&A market
- Two things founders can do now to attract potential buyers
- Why the Rule of 40 is so important to PE firms – and how to achieve it
- The financial investors want to see before they commit to a deal
- And more
The practice of revesting has radically changed the M&A landscape in recent years, says Michael Frank, partner at Hogan Lovells. It provides advantages to both buyers and owners and founders.
Michael explains why revesting has become so widespread – especially in Silicon Valley – and the best way to approach these types of deals. It’s something you have to keep in mind from the earliest discussions between buyer and seller. He also discusses the tax implications that are important to keep in mind that can guide how such deals are structured.
Listen in to discover…
- The types of companies where revesting is a no-brainer
- Key differences between earn outs and revesting
- How to avoid costly tax issues
- Why revesting makes sense for buyers and sellers
- And more
Where does our food come from? Who makes it… and how? It’s those sorts of questions that guide Stephen Hohenrieder as he invests private equity in all levels of the value chain in the food industry.
There is a sea change in going on in how consumers relate to food, and Stephen, the chief executive and chief investment officer for a single family office, says it’s prime time invest in this trend.
Tune in to find out…
- The differences between strategic investing versus venture capital in this industry
- Why “pre-industrial” food is sweeping the nation
- The role of Big Ag, food companies, small farmers, public policymakers, investors, and more
- How owners and founders can grow while maintaining integrity
- The only way food companies can stay relevant with customers
- And more
One of the biggest sticking points during the negotiations for any M&A deal is indemnification. It’s a problem Nate McKitterick has dealt with for many years as a partner specializing in transactional insurance and indemnification matters at law firm DLA Piper.
Basically, buyers insist that sellers be “on the hook” for any issues that come up post-sale. And sellers are nervous about making the representations required for a deal to go through… when something out of their control could cost them their personal assets.
Nate highlights a specialized type of insurance that transfers all the indemnification risk to a third-party. We get into the nitty-gritty on how these policies work and how to set them up, as well as…
- The level of due diligence insurance underwriters are looking for
-
1 thing owners and founders/sellers must know when negotiating indemnification
- The role of the broker in securing the right transactional insurance
- 6 types of transactional insurance that could be vital to your next deal
- And more
With the oil and gas sector seemingly on the road to recovery, there’s been an uptick in M&A activity, says Jimmy Vallee. As a native Texan and partner in the Houston office of law firm Paul Hastings, Jimmy should know.
He’s got some strategies for taking advantage of this market rise. He also examines the role of private equity in this industry and best practices for mergers and acquisitions in this space – it’s unlike other industries and one “little” mistake could cost you millions.
No matter what industry you’re in, you can learn a lot from Jimmy, including…
- Who to avoid to ensure your M&A deal doesn’t go south
- How to understand the “language” of the energy sector
- The role of private equity in this industry
- Why you need Rep and Warranty insurance to cover your next M&A deal – in any industry
- And more
The decision to buy or sell a business is an important one… and it’s often not a straightforward process, says M&A advisor Arthur Cirulnick of Venable LLP.
You want somebody in your corner who knows what they’re doing. That’s especially true when, as is the case with many companies, this is your first time doing it.
Arthur shares details on the deals he’s seen go very wrong… and how things were patched up. He also highlights the best practices behind what should be in every M&A deal: the due diligence memo.
Listen now to find out…
- Why in-house counsel isn’t the best choice to shepherd your next merger or acquisition
- The 6+ issues a due diligence memo can reveal
- The Green, Yellow, Red System for gauging risk
- How to save money on your R&W insurance premiums
- And more
Healthcare companies are a different animal than businesses in other industries in a lot of ways. And that means you need a different approach when it comes to mergers and acquisitions.
Patrick Krause, a director at investment bank MHT Partners focused on healthcare, has shepherded a lot of deals in this sector. He shares how he helps turn M&A transactions into win-win-win deals, where both buyers and sellers are happy – and patients benefit, too.
Tune in to find out…
- How to bridge the gap between medicine and business
- The extra steps you must take to invest in certain healthcare-related businesses
- The four “sectors” in the healthcare industry – and how to handle each
- Ways to increase profits but also quality of care to patients
- And much more
As a business owner or CEO, you’ve worked hard to build your company for years, if not decades.
Unfortunately, says Terry Hill, managing director of public accounting and advisory firm BPM’s advisory practice, the due diligence process in an M&A deal can reveal overlooked weaknesses that can severely impact the valuation and efforts to find a buyer.
But you can still get maximum enterprise value and have a successful exit, says Terry. You just need to do the right prep work.
Tune in to discover…
- The impact of the huge amount of “dry powder overhang” in the marketplace
- Ways to spot overlooked financial weaknesses
- What you can do to make buyer’s take notice of your company
- The key to avoid getting distracted by the M&A process
- How to grab your piece of the $1 trillion+ available for M&A deals right now
- And more
When putting together an M&A deal it’s tempting to focus solely on operations and the financials.
But to ensure a smooth transition after the papers are signed… you can’t forget the people side of things and company culture, says Shari Yocum of Ernst & Young’s People Advisory Services Practice in Silicon Valley.
In fact, says Shari, your work in this key area should start when you’re structuring the deal. Otherwise, you risk losing key employees and having frustrating “political” clashes that hamper productivity and profits in the newly merged company.
Listen in to find out…
- How to combat fear of change and the unknown among employees
- The key thing you can do to drive retention
- Why you should off-board as well as you onboard team members
- The importance of taking “emotion” out of M&A
- Who should lead your employees through a merger
- And more...
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He’s seen a lot of deals in his 25 years as an investment banker, but these days Patrick Crocker, founder and managing director of MHT Partners, specializes in helping owners and entrepreneurs sell their businesses.
Let’s face it, you’re an expert in your industry. But what do you know about mergers and acquisitions? Hiring an advisor let’s you focus on keeping the business healthy, while the advisor repairs problem areas and finds qualified potential buyers.
Yes, it’s an investment. But Patrick will show you why your advisor can deliver excess value 10X what their fee was when you sell your company.
He’ll also reveal…
- How to create leverage in negotiations
- The importance of doing your own due diligence
- The 3 phases of a smooth M&A deal
- Ways to increase “quality of life” when you sell your business
- The importance of “staging” your business for buyers
- And more
Listen now...
One of the newest – and most effective tools – being used in mergers and acquisition deals today is Representations and Warranty insurance. With this coverage, if there is a breach, the insurance company will pay the loss. The buyer has certainty of collection. But do insurance companies actually pay claims? In the experience of my guest Joe Finnerty, a litigation partner with law firm DLA Piper in New York City, insurance companies are happy to pay. You, as the buyer, just need to help them out a bit. Find out…
- Why you should be an “open book” with your insurer
- How to get your claim paid faster, with the maximum amount
- What data to send to your insurer first
- The “education” you need to give your insurer for them to pay a claim
- Ways a broker is an essential part of your claim
Listen now…