Middle Market Growth Conversations: Recent Episodes
Middle Market Growth Magazine
The Middle Market Growth Conversations podcast features in-depth interviews about trends impacting midsize companies and M&A. Guests include middle-market dealmakers, business leaders, economists and other experts involved in mergers and acquisitions and corporate growth. Interviews address topics ranging from private equity investment strategies, to state-of-the-market overviews, operational best practices, and much more. The podcast is part of Middle Market Growth, the Association for Corporate Growth’s official publication, available at http://www.middlemarketgrowth.org.
In today’s private credit markets, success is defined by resilience and discipline. As a higher-for-longer rate environment reshapes the lower middle market, new challenges are creating fresh opportunities for those who stay the course. Chris Hendrix of TPG Twin Brook joins the podcast to debunk myths about why there may be more inherent risk in the lower middle market and share the team’s approach to sponsor flexibility and risk management.This episode is brought to you by TPG Twin Brook Capital Partners, a leading direct lending finance company focused on providing cash-flow based financing solutions for the middle-market private equity community. To learn more about TPG Twin Brook, visit www.twincp.com.The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Subordinated debt can play an important role in the capital stack for businesses growing into the middle market—if used under the right circumstances. Joe Camberato, founder and CEO of National Business Capital, shares how he’s seeing small and midsized businesses use sub debt not as a lifeline for cash, but as fuel for expansion and exit-readiness.This episode is brought to you by National Business Capital. Learn more at nationalbusinesscapital.com. The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Upskilling is an important component to a human capital management strategy, but isn't enough to fill today’s AI talent gap. Daniel Pianko, cofounder and managing director at private equity firm Achieve Partners, offers a look into the firm’s apprenticeship program that begins filling that gap for porticos at the very top of the talent acquisition funnel—with demonstrable impact on EBITDA growth.The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify, or wherever you listen to podcasts.
The middle market continues to face an uncertain and challenging environment, but new data from KeyBank’s Middle Market Snapshot survey reveals something surprising about midmarket borrowers’ use of private capital: It’s become an important lever for strategic growth, not just survival. KeyBank’s Chris Picardi joins the podcast in a conversation about more of the survey’s findings and considers how lenders can position themselves as partners that tailor the capital stack to businesses’ unique needs.This episode is brought to you by KeyBank. Learn more at key.com. All credit, loan, and leasing products are subject to collateral and/or credit approval terms, conditions, and availability and subject to change. This is for general information purposes only and does not consider the specific investment objectives, financial situation, and particular needs of any individual person or entity. Information included was prepared based on survey respondents’ answers, information from business leaders considered to be reliable, and an express disclaimer of warranty, express or implied, as to such information’s accuracy or completeness. KeyBank does not provide legal advice. 260608-4572578The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Firms that can respond swiftly to a complicated and rapidly shifting investment environment have a competitive advantage. Creating that agility requires the right human capital strategy, a component that is often overlooked, says Insperity Private Capital Consultant Brad Burke. He joins the podcast to offer tips on enhancing operational agility through people pre- and post-close, how AI plays into the equation, and more. This episode is brought to you by Insperity. For more information, visit Insperity.com/ACG.The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Since 2020, private equity has seen high highs and low lows, and in a more competitive and condensed market, firms are having to pull different levers to see value. Adrian Nohr, principal with CLA, joins the podcast to share her perspective on how shifting market dynamics are influencing buyer behavior, discuss how dealmakers are navigating valuation gap, and explore the latest considerations leading firms are evaluating to remain competitive.This episode is brought to you by CLA. Learn more at claconnect.com.The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
AI has fueled white-collar layoffs at blue chip companies, but many middle-market workers and leaders are uncertain of exactly how and when AI will impact their lives and businesses. Stephen Murray, founder and president of Grow Fast Advisory, shares how AI is driving change in the middle market, where value can leak during the transition to AI, and what well-managed AI adoption gets right.This episode is brought to you by Grow Fast Advisory, AI-enhanced advisory for critical transitions. Learn more at growfastadvisory.com.The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Geopolitical tensions have shaken the markets, spiked fuel prices, and created new financial challenges for consumers at the gas pump and beyond. Joining the podcast to share more about the health of the consumer sector and what it means for lending in the space are WhiteHorse Capital’s Javier Casillas and Stephen Migdal.This episode is brought to you by WhiteHorse Capital. To learn more about WhiteHorse, visit WhiteHorse.com.The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
In the last fifteen months, private equity investment in law firms has gone from theoretical to reality. Tom Lenfestey of the Law Practice Exchange is back with the podcast to talk about new legal and regulatory developments, what drives multiples in law firm valuations, the cultural elements dealmakers should consider, and more.This episode is brought to you by Hilco Global. Learn more at hilcoglobal.com.The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Recent research from the National Center for the Middle Market (NCMM) found there are four distinct styles of decision making for strategic leaders in the middle market, each with impacts on performance and growth. Doug Farren, executive director of the NCMM, is back with the podcast to talk about those decision-making styles and what they mean for business leaders and investors.This podcast is brought to you by Grata. Learn more at grata.com.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
New research from RSM argues that the way we define the middle market is due for a major change. Tuan Nguyen, an economist at RSM, says the shifts in the makeup of the middle market have major implications for the people that work within it. Nguyen joins the podcast to dive into the findings and share the biggest takeaways for middle-market business leaders and dealmakers.This episode is brought to you by Hilco Global. Learn more at hilcoglobal.com. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A in 2026.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A activity in the first half of 2026. But a closer look reveals a more nuanced market, says Mike Ross, U.S. consumer markets deal leader at PwC. He joins the podcast to explore the consumer habits creating investment opportunity, why carve-outs have grown in popularity, and more.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
What’s ahead for the lending world in the year ahead, and how does that play into why lenders come to DealMAX? In our fifth Inside DealMAX episode of 2026, we’re joined by Christine Nowaczyk, SVP at U.S. Bank, and Jalal Taby, SVP at Comerica Bank—both veteran lenders and DealMAX attendees—to talk about their lending outlook for 2026 and how they get the most out of DealMAX.Register today at dealmax.org. This episode is brought to you by Grata. Learn more at grata.com.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Have you ever wished you could get a memo on what the person negotiating with you across the table is really thinking? You can, says microexpressions expert Annie Sarnblad, if you learn to read the minute and universal facial cues that everyone makes. Sarnblad joins the podcast to explain why microexpressions matter and how to make them work for you in negotiations.This episode is brought to you by Grata. Learn more at grata.com.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
It's possible that no one knows more about DealMAX than Kate Weaver, vice president of events at ACG. She joins us for the fourth episode of this year's Inside DealMAX series to share the secrets behind the scenes and what attendees can look forward to this year, as well as hot tips and conference hacks only an insider would know.To join us at DealMAX, learn more at dealmax.org.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A community, plus offer some sneak peeks into the latest of GF Data's findings on the state of the market.Register today at dealmax.org. Learn more about GF Data, an ACG company, at gfdata.com.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A marketplace.This episode is brought to you by WhiteHorse Capital. To learn more about WhiteHorse, visit whitehorse.com.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Many industries, including management consulting and legal firms, have long used a talent model that requires hiring large classes of entry-level workers. Now that AI efficiency gains have appeared in many sectors, that large pool of new hires is being trimmed down—but what does that mean for firms that will need mid-career and senior workers in a few years? Atta Tarki, founder and chair of ECA Partners, discusses the challenge, how it will impact PE firms and their portfolio companies, and how business and talent strategies will need to evolve in the age of AI.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Last August, President Trump issued an executive order for the Department of Labor and Securities and Exchange Commission to lay a framework allowing private equity investments within 401(k)s. The initiative would unlock a new, potentially massive source of capital. But democratizing private equity for retail investors would have many implications for firms, says Jim Walker, partner and global head of wealth at Adams Street Partners. He joins the podcast to discuss how this initiative might play out, how the PE community can prepare, and what firms can learn from existing funds developed for high net worth individuals.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Michael Feuz, economist with ITR Economics, is back to share what middle-market business leaders and dealmakers can expect in the year ahead. From interest rates and inflation to deal flow and AI, Feuz discusses the biggest trends that will shape the economy in the U.S. and globally in 2026.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A takes in the first quarter of 2026 will color the mood at DealMAX and what dealmakers are looking to accomplish as they hit the deal floor in April. Doug Brookman, managing director at Mesirow Investment Banking and this year’s DealMAX chair, and Mike Alberts, principal and head of business development at Cohere Capital and vice president of ACG Boston, join the podcast for the second episode of the 2026 Inside DealMAX series to share how they expect deal flow to shape up in the early months of the year, their tips as DealMAX veterans, underrated DealMAX offerings, and more.Register today at dealmax.org to take advantage of the early registration rate, available until January 14.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A market between now and late April, their most effective DealMAX hacks, and what to expect from this year’s conference.Register today at dealmax.org to take advantage of the early registration rate, available until January 14.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A. Scott Linch of Forvis Mazars and Bob Dunn of GF Data join the podcast to share what they discovered about fundraising, exits, the performance of specific sectors, and much more.This episode is brought to you by Forvis Mazars, a leading global professional services network.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A playing out in the year ahead.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A make out in the coming year? Fromm Beauty's Marty Okner and DC Advisory's Luc-Henry Rousselle join the podcast to discuss the most promising sectors, the challenges and opportunities in celebrity beauty brands, and what they expect for deals in 2026.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Youth sports is estimated to be a $40 billion dollar industry, and one that private equity has been eyeing with interest. Christopher Russo, CEO and founder of Fifth Generation Sports, joins the podcast to discuss the risks and opportunities in the youth sports sector, as well as other sports niches that could be home runs for investors.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A special report from the National Center for the Middle Market (NCMM) disproves some myths about private equity’s impact on middle-market businesses and offers some hard data on how PE-backed companies perform compared to their counterparts. NCMM’s Executive Director Doug Farren joins the podcast for a deep dive into the research’s findings and what it means for both middle-market companies and the PE firms that hope to invest in them. To read the full report, visit middlemarketcenter.org.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
A advisors for benchmarking, valuation, and market analysis. Learn more at gfdata.com/ESOPs.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
D space and how investors and business leaders can respond.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
From continuation vehicles to tariff impacts, from lending structures to interest rates, what are the biggest trends shaping M&A in the lower middle market? Chris Martin, partner with TPG Twin Brook Capital Partners, joins the podcast to talk about the latest developments, including the ascent of continuation vehicles and direct lending.This episode is brought to you by TPG Twin Brook Capital Partners, a leading direct lending finance company focused on providing cash-flow based financing solutions for the middle-market private equity community.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
John Yeager, managing director of WhiteHorse Capital, and Corey Mason, principal with WhiteHorse Capital, sit down with Middle Market Growth Conversations to discuss the transportation and logistics (T&L) industry, including the current market environment, the potholes and risks in the space, and how to stand out among the competition. This episode is brought to you by WhiteHorse Capital, the direct lending arm of H.I.G. Capital. To learn more about WhiteHorse, visit whitehorse.com.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Diving deeper into the implications of the One Big Beautiful Bill Act, Forvis Mazars’ Donald Rawe, partner, and Howard Wagner, managing director, join the podcast to talk through the most impactful tax provisions, from 1202 changes to bonus depreciation and more.This episode is brought to you by Forvis Mazars, a leading global professional services network.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
AI has been making significant inroads in PE, but the most common use cases are often based in deal sourcing or due diligence. However, new uses are emerging, including value creation for portfolio companies. Bruce Sinclair, managing partner of AI Operating Partners, joins the podcast to share how PE firms can use AI and digital twin technology to drive value in their portcos.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
What changes does the One Big Beautiful Bill hold for middle-market businesses and the firms that invest in them? Michael Feuz, economist with ITR Economics, is back to talk through key provisions in the bill, what they mean for the middle market, and how businesses and investment firms should position themselves in response.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
What will SEC enforcement look like in the Trump 2.0 era? Emilie Abate, managing director at Iron Road Partners, joins the podcast to share how policy is shifting, how oversight of secondaries, AI and management fees is shaping up, and more.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Javier Casillas, managing director and global chief credit officer with WhiteHorse Capital, and Sachin Garg, principal with WhiteHorse Capital, join the Middle Market Growth Conversations podcast to talk about the environment for lending and private credit in the healthcare space and the biggest emerging risks and opportunities.This episode is brought to you by WhiteHorse Capital, the direct lending arm of H.I.G. Capital. To learn more about WhiteHorse, visit whitehorse.com. ***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Initial pro-business sentiment following the election quieted a bit after the Trump administration issued a series of tariff announcements and retractions that roiled the stock market. With tariffs still on the table, Michael Feuz, an economist with ITR Economics, sits down with Middle Market Growth to discuss how Trump’s policies on trade, inflation, deregulation, immigration and more could impact the economy more broadly and business leaders and dealmakers specifically.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
As companies and investment firms rush to capture value via AI, more energy is needed to run the data centers that power that technology, and this rising demand is creating challenges that require novel solutions. Mark Weathers, the CEO of Energy Internet Corporation, joins the podcast to share his company’s innovative approach to energy storage and other developments in the AI/energy space.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
We’re back with another episode of our limited series, “Inside DealMAX,” where we’re joined by Trivest Partners’ Tony Hill, our 2025 DealMAX chair, and Houlihan Lokey’s Chris Hebble, DealMAX private equity committee co-chair, to discuss how the first quarter is shaping up for dealmakers, why you can’t miss this year’s DealMAX, their favorite things to do in Vegas, and more.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Finding stability is the name of the game as sponsors and lenders grapple with stubborn inflation. However, there are actions businesses can take now to spur growth. Betsy Booth, a partner at TPG Twin Brook Capital Partners, rejoins the podcast to discuss her approach in uncertain times, which industries are particularly good at weathering instability, trends in the lending market and more. This episode is brought to you by TPG Twin Brook Capital Partners.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Stuart Aronson, executive managing director and CEO of WhiteHorse U.S., and Pankaj Gupta, president of WhiteHorse U.S. and global head of originations, return to the podcast to discuss what’s next for lenders in the months ahead, how underwriting standards are developing, how portfolios will perform in 2025 and more.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Regulations and ABA rules keep non-attorneys from owning law firms in most states, but that hasn’t kept private equity from noticing that the industry is ripe for investment. Tom Lenfestey, founder and CEO of the Law Practice Exchange, joins the podcast to share what makes the sector a potential hotspot for PE investment, how regulations are evolving and more.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
For the third episode of our limited series, “Inside DealMAX,” we’re joined by TM Capital’s Ashton Gillespie to discuss the investment banking space, her strategies for getting the most out of DealMAX as an investment banker, how to strategically say no, and more.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
In our second episode of our limited series, “Inside DealMAX,” we sit down with Libertas Funding’s Karin Kovacic and Holland & Knight’s Jose Gabaldon to reminisce about surprising ways great connections are made, discuss the M&A landscape today, share best networking tips for the conference and more.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
When the M&A market is muted or volatile, maintaining a consistent capital deployment strategy can be a challenge. Drew Guyette, senior partner and co-chief credit officer at TPG Twin Brook, joins the podcast to discuss the prevailing tailwinds in the lower-middle market, how his firm is putting capital to work right now and what he sees on the horizon in 2025.***This episode is brought to you by TPG Twin Brook Capital Partners.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
As we prepare for DealMAX 2025, the podcast is kicking off “Inside DealMAX,” a limited series exploring the M&A environment, strategies to maximize your time at the conference and the best tips for when you touch down in Las Vegas. For our first episode, we’re joined by ACG’s CEO Brent Baxter and Lion Equity's Aaron Polack to discuss corporate deal activity, travel hacks, building valuable relationships and more.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
A poorly managed exit process can erode value, and in the worst cases, a portfolio company that isn’t prepared to start that process can kill a deal. Tony Esposito, managing director of private equity and venture capital at Consero, and Josh Welk, founder and managing partner at Full Guard Capital, discuss the indicators that show a portfolio company isn’t ready for exit, the potential fallout from a lack of preparedness, then share their tips for what to do when you spot those signs.***This episode is brought to you by Consero Global, a leading FaaS (Finance as a Service) provider.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
The CFO role has evolved greatly in recent decades, and perhaps even more so within private equity-backed companies. Tom Pierce, managing director of the CFO advisory services arm of Consero Global, and Jason Adams, principal at BV Investment Partners, an investor in Consero, join the podcast to share their unique perspectives on how the role has shifted and how CFOs and PE teams can best collaborate to drive value throughout the exit process.This episode is brought to you by Consero Global, a leading FaaS (Finance as a Service) provider. This is part two in a three-part series about exit preparedness.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
The outlook for the technology, media and telecom (TMT) sector is bright—and, the experts at WhiteHorse Capital say, full of opportunity for investors. Mark Bernier, WhiteHorse Capital’s managing director, and Peter Gallagher, principal, join the podcast to share their insights into today’s private credit market, trends in the TMT sector, how annual recurring revenue financing is evolving and more.This episode is brought to you by WhiteHorse Capital. To learn more about WhiteHorse, visit whitehorse.com.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
As deal volume begins to recover and business leaders look forward to a falling rate environment, exit preparedness should be top of mind for finance leaders and dealmakers alike. Tom Pierce, managing director of the CFO advisory services arm of Consero Global, joins the podcast to offer a CFO’s point of view on the most important elements to consider ahead of a sale and how to kick off an exit preparation process.This episode is brought to you by Consero Global, a leading FaaS (Finance as a Service) provider. This is part one in a three-part series about exit preparedness.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
When in June 2024 FORVIS, a top U.S. accounting and advisory firm, combined with Mazars, an international professional services firm, the firms created a unique global network and marked one of the many innovative structural changes accounting firms are implementing to evolve with a changing market. Scott Linch, partner with Forvis Mazars, and Bob Dunn, managing director of GF Data, an ACG company, join the podcast to talk about this deal, the unique moment that makes a global network so attractive, trends in the professional services sector, and more.This episode is brought to you by Forvis Mazars, a leading global professional services network. ***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Government incentives and environmental mandates are expected to attract investors to nuclear energy, and the technological advances and infrastructure upgrades needed to support it. Nano Nuclear Energy’s Jay Yu, founder and chairman, and James Walker, CEO, join the podcast to talk about areas of opportunity in the sector and what’s ahead for nuclear energy development.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Holding periods for private equity buyouts are growing longer, and the longer hold times are changing the way firms approach value creation. Rudi Moreno, managing director in the transaction advisory group at global advisory firm Stout, joins Middle Market Growth Conversations to discuss whether extended holding periods are here for the long haul, how the trend is shaping growth initiatives and more.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Private credit has been on a rocket ride since the great financial crisis, and the direct lending space has recently become white hot with new entrants joining legacy firms. WhiteHorse Capital’s Chief Credit Officer Javier Casillas and Managing Director Samuel Goldworm join the podcast to discuss how WhiteHorse stays competitive in a crowded market and share their thoughts on the regulatory rumblings around private credit.This episode is brought to you by WhiteHorse Capital, the direct lending arm of H.I.G. Capital. To learn more about WhiteHorse, visit whitehorse.com. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
As we enter the second quarter of 2024, middle-market dealmakers are optimistic about the M&A environment despite continued higher capital costs. Pete Notter, a partner at TPG Twin Brook Capital Partners, joins the podcast to share his insights on the current environment for borrowers and lenders, how the market has shifted compared to 2023 and the outlook for the future.This episode is brought to you by TPG Twin Brook Capital Partners, a leading direct lending finance company focused on providing cash-flow based financing solutions for the middle market private equity community. To learn more about TPG Twin Brook, visit www.twincp.com.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Renewable energy M&A has been a hot topic in recent years, with S&P Global Market Intelligence predicting that 2024 will be a banner year for private equity clean energy and renewables dealmaking. Kenny Boyce, CEO of Third Party Cyber Security, joins the podcast to talk about the surprising cybersecurity risks investors need to consider in the renewables space as well as other cyber vulnerabilities that private equity firms and dealmakers should be aware of.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Sustainable fashion is a rapidly growing market, but conscious consumers struggle amidst the dominance of fast fashion and the ubiquity of greenwashing. Erin Houston, co-founder and CEO of Wearwell, joins the podcast to discuss how her company helps consumers make informed ethical purposes, their rapid growth trajectory and why investors should keep a close eye on the sustainable fashion sector.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
After the ups and downs of 2023, the M&A market has been widely predicted to see a return to normal in 2024—but not everyone agrees with that assessment. Stuart Aronson, executive managing director and CEO of WhiteHorse U.S., and Pankaj Gupta, president of WhiteHorse U.S. and global head of origination, join the podcast to share their predictions and insights on what’s next for inflation, underwriting standards, portfolio performance, and more.***This episode is brought to you by WhiteHorse Capital, the direct lending arm of H.I.G. Capital. To learn more about WhiteHorse, visit whitehorse.com.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Since 2020, private equity firms and accounting firms have experienced a mutual attraction with multiple deals making their way to the finish line, and experts say that trend is likely to continue. Allan Koltin, CEO of Koltin Consulting Group, joins the podcast to discuss why accounting firms are transforming, how acquirers can determine which accounting firms are attractive targets, and the opportunities emerging in the sector.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
From naval ship repair to commercial aircraft engine machinery, the aerospace and defense supply chain is ripe with strong acquisition targets for dealmakers. Michael Richter, managing director and global head of Lazard’s Aerospace & Defense investment banking group, joins the Middle Market Growth Conversations podcast to explore these M&A opportunities. ***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
As demand for electricity continues to rise, energy companies are facing growing pressure to mitigate wildfire risks associated with aging utility infrastructure. Managing vegetation around utility infrastructure plays an increasingly important role in both keeping the lights on and keeping fires snuffed. Kaitlyn Albertoli, CEO and co-founder of Buzz Solutions, joins the Middle Market Growth Conversations podcast to talk about how her company is using emerging technology to address these challenges and why investors should keep an eye on the utility vegetation management space.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Those who remember the dark tone of the numbers from the second quarter may be happy to hear that there are signs that the M&A market is starting to revive as we closed the third quarter. Bob Dunn, the managing director of GF Data, an ACG company, joins Middle Market Growth Conversation podcast for the third installment in an ongoing series where we review timely data on mid-market, private equity-backed M&A.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.
Cell and gene therapy technologies are ascendent, boosted by new developments in treatments for diseases like ovarian cancer and Parkinson’s disease, and by predictions of a meteoric rise in total market value in the next five years. Fabian Gerlinghaus, the co-founder and CEO of Cellares, a company that has developed a so-called “factory-in-a-box” for cell and gene therapy manufacturing, joins the podcast to share Cellares’ unique approach to developing successful cell therapies, the regulatory landscape and why investors should be watching this sector.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Middle-market businesses continue to feel the pressure of rising interest rates, inflation and other macroeconomic challenges. The ongoing strain on companies and the deal market has shined a light on the importance of having strong lender relationships.In this episode, Betsy Booth, a partner at Twin Brook Capital Partners, offers her perspective on the state of mid-market M&A and discusses how Twin Brook is evaluating new opportunities and working with existing borrowers in the current environment. Booth—who focuses on originating, evaluating and structuring new loan opportunities with private equity sponsors—explains Twin Brook’s partnership-focused approach and highlights how open lines of communication can help to identify and resolve potential issues early on.She also talks about assessing opportunities with businesses that are facing rising rates and inflation of this magnitude for the first time, the important role of covenants and revolvers in credit agreements, and her outlook for the mid-market.***This episode is brought to you by Twin Brook Capital Partners, a leading direct lending finance company focused on providing cash-flow based financing solutions for the middle-market private equity community. To learn more about Twin Brook, visit www.twincp.com.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
At the close of the second quarter of 2023, the numbers from private equity-sponsored middle market transactions showed that deal volume has cratered, and debt pricing has risen even higher despite renewed hopes for a soft landing economically. This is the second installment in an ongoing series where we review timely data with Bob Dunn, the managing director of GF Data, an ACG company.***The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
In a complex and hard-to read economic environment, data can help us understand the dealmaking moment. In the first installment in an ongoing series, Bob Dunn of GF Data joins the podcast to share what the numbers say about middle-market M&A in the first quarter of 2023, including the decline in deal volume and the rising cost of capital.
Macroeconomic challenges and a choppy lending market have weighed on middle market M&A activity and impacted financing structures across industries in 2023, and healthcare is no exception.
In this episode, Tim Wentink – a partner at Twin Brook Capital Partners – offers a lender's perspective on the state of the healthcare sector and how dealmaking is evolving in the current market environment.
Wentink, who works on healthcare lending opportunities with private equity sponsors, discusses how PE firms and their portfolio companies are financing deals, the volume and types of transactions observed thus far in 2023, and his outlook for the rest of the year.
He also talks about how inflation and other macro factors are affecting investment decisions within healthcare, which subsectors are experiencing an uptick in interest among buyers, and where noticeable shifts are occurring within this space.
This episode is brought to you by Twin Brook Capital Partners, a leading direct lending finance company focused on providing cash-flow based financing solutions for the middle market private equity community. To learn more about Twin Brook, visit www.twincp.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
***In the age of business websites, social media accounts and email marketing, almost every business publishes content, and with that content come media liability risks. Something as simple as having background music in a TikTok video or using a photo from the internet on their website could open a business to legal liability. QBE North America's Andrea Taylor, vice president of underwriting for media liability, and Evynne Grover, vice president and claims practice leader for media liability, discuss the new and complex risks of today's media landscape. From influencer marketing to generative artificial intelligence, a better understanding of today's risks can help companies prepare. For some, that could mean taking out a media liability insurance policy, which gives businesses access to specialized legal representation and expert knowledge of best practices for mitigating risks. To learn more about QBE North America, visit www.qbe.com/us/acg-members. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by QBE North America, a global insurance leader focused on helping customers solve unique risks to enable a more resilient future.As healthcare costs rise, how can employers gain better control of their health plan expenses? QBE North America Vice President, Accident & Health Specialty Markets Matthew Drakeley explains the opportunity for companies to self-fund their health insurance plan and support it with medical stop loss coverage in a captive insurance company.QBE’s 2022 Mid-Sized Company Risk Report found that out of almost 100 risks measured, company executives ranked medical cost inflation and increasing employee benefit costs as among the most concerning. In recent years, the cost of hospital labor, drugs and medical supplies has risen significantly, and hospitals are likely to pass those costs on to health insurers—who will, in turn, pass the bill to employers.Drakeley has effective strategies to gain better visibility, flexibility and control over these rising costs. First, companies can self-fund their health insurance plans and use medical stop loss coverage to guard against an unexpected spike in expenses. Second, companies can place their medical stop loss insurance in a captive to gain even more control over costs. Companies can form their own captive or join one owned by multiple companies, called a group captive, to achieve critical mass for operating efficiency and negotiating power with providers.To learn more about QBE North America, visit www.qbe.com/us/acg-members. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by QBE North America, a global insurance leader focused on helping customers solve unique risks to enable a more resilient future.Insurance coverage is the most basic form of risk transfer and protects businesses from risks under their direct management and control. However, a business can gain additional layers of protection through contractual risk transfer, in which the business shifts liability for loss to another party.QBE North America’s Tom Lysaught, senior vice president, head of property and casualty claims, and Bobby Steinsdoerfer, senior vice president, retail property and casualty underwriting, join the podcast to discuss the benefits of an effective contractual risk transfer strategy. They detail the varying levels of contractual risk transfer and how to implement an effective contractual risk transfer program. From poorly written contracts to inadequate contract management or handshake agreements, Lysaught and Steinsdoerfer share examples and detail common mistakes that can prevent a business from transferring risk appropriately—potentially resulting in lawsuits, reputational damage, rising insurance premiums and other financial repercussions. They also discuss the importance of securing qualified legal counsel and utilizing resources available through an insurance carrier. To learn more about QBE North America, visit www.qbe.com/us/acg-members.The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by QBE North America, a global insurance leader focused on helping customers solve unique risks to enable a more resilient future. Companies today face a complex and evolving set of employment practices liability risks. Legal and regulatory changes, along with shifting social norms, remote work and rules that vary state by state, have increased the risk of litigation for businesses of all sizes. Midmarket companies are particularly vulnerable to the growing risk of employment practices liability, say QBE North America's Eden Stark, vice president, claims leader for employment practices liability, and Mary Anne Mullin, senior vice president, fiduciary and employment practices liability product leader.Stark and Mullin join the podcast to discuss how they've seen employment practices liability risk increase over the years and share proactive steps that business leaders can take to protect their organizations. They also offer insight into insurance coverage and how a close partnership with an insurance carrier can help a company avoid common employment practices pitfalls or, in the case of legal action, resolve a lawsuit efficiently and cost-effectively.To learn more about QBE North America, visit https://www.qbe.com/us/acg-members. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by Twin Brook Capital Partners, a direct lending finance company focused on providing cash-flow based financing solutions for the middle market private equity community.
Chris Martin, a partner at Twin Brook Capital Partners, joins the podcast to discuss the state of the mid-market.
In the interview, Martin reviews transaction activity through the first half of 2022 and explains how market conditions have evolved since the start of the year. He talks about the impact of macroeconomic issues—such as the tight labor market, supply chain disruption, and inflation—on mid-market businesses, and how Twin Brook is working with private equity sponsors and borrowers to navigate the evolving macroeconomic environment.
At the end of the conversation, Martin discusses his outlook for the remainder of 2022 and the types of assets and industries he believes are likely to draw PE sponsors' interest over the coming months.
To learn more about Twin Brook, visit www.twincp.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
As managing director and head of technology within the investment banking group at Stout, Tricia Salinero helps clients navigate the ever-more complex world of technology M&A.
In this episode, ACG’s digital editor, Carolyn Vallejo, has a wide-ranging discussion with Salinero about valuations and pricing, promising sectors, and advice for buyers and sellers.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by Twin Brook Capital Partners, a direct lending finance company focused on providing cash-flow based financing solutions for the middle market private equity community.
Pete Notter, a partner at Twin Brook Capital Partners, joins the podcast to discuss the current state of the market and how experience and consistency have been particularly valuable to sponsors and borrowers in today's environment.
In the interview, Notter talks about what deal activity looked like in late 2021 and into the first quarter of 2022, including the pace of activity and the types of M&A transactions underway.
He also shares how Twin Brook has been working with sponsors and borrowers through supply chain disruption, labor shortages and other ongoing macroeconomic issues. Additionally, Notter points to the increasing demand for accelerated deal timelines and discusses how Twin Brook's high-touch, relationship-focused approach has helped it support sponsors as they look to close deals quickly.
The conversation wraps up with a discussion about the outlook for the remainder of 2022 and what Notter expects to see in the coming months.
To learn more about Twin Brook, visit www.twincp.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US, a leading audit, tax and consulting firm focused on the middle market. It's part of a four-part series that looks at how to optimize business performance through the lens of cybersecurity, IT, finance and human capital.
Marni Rozen, director of management consulting for human capital at RSM, joins the podcast to talk about trends and challenges for talent management today, and how organizations can take a more strategic approach to human capital.
Rozen talks about the varying impact that the Great Resignation has had on companies depending on their industry and size, along with ways to mitigate the risk of attrition. She also discusses how current talent trends are impacting M&A, and key steps to take post-transaction to help smooth the integration.
At a time when human resources departments are under intense strain, Rozen points to outsourcing and other ways to relieve some of the burden. Finally, she talks about wage inflation, and how employers can be proactive rather than reactive when designing employee benefits programs. More insight into the challenges facing human resources can be found in RSM’s recent Middle Market Business Index: Changing Work Patterns in the Middle Market special report. https://realeconomy.rsmus.com/wp-content/uploads/2022/01/mmbi_back-to-work_special_report_jan22-002.pdf
To learn more about RSM, visit https://rsmus.com/our-insights/business-optimization.html?cmpid=ola:754855-acg-podcast-series:bb01.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US, a leading audit, tax and consulting firm focused on the middle market. It's part of a four-part series that looks at how to optimize business performance through the lens of cybersecurity, IT, finance and human capital.
RSM Directors Kristen Oats and Cody Roth join the podcast to talk about how finance and accounting departments are adapting to remote work, supply chain disruption, talent shortages and increased M&A activity.
Oats and Roth, who work within RSM’s management consulting, CFO advisory services group, share how they’ve seen finance and accounting teams bridge their talent gaps, and when to consider temporary or fractional resources. They also discuss how strains on the finance department are affecting M&A activity in the middle market, and what finance teams should focus on post-transaction.
The conversation closes with a look at the trends to watch in the year to come, and how rising input costs, salaries and interest rates are affecting forecasts.
To learn more about RSM, visit https://rsmus.com/our-insights/business-optimization.html?cmpid=ola:754855-acg-podcast-series:bb01.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US, a leading audit, tax and consulting firm focused on the middle market. It's part of a four-part series that looks at how to optimize business performance through the lens of cybersecurity, IT, finance and human capital.
Mike Banks, director of technology consulting in the complex infrastructure delivery M&A group at RSM, joins the podcast for a conversation about the evolution of IT, the strategic function it serves within an organization, and ways to leverage technology more effectively across the enterprise.
Banks outlines the trends shaping the industry, from the shift to cloud, to talent shortages and more. He points to IT-related areas to focus on before and after a transaction, and pitfalls such as technical debt that buyers should be aware of.
The conversation includes a look at the next phase of cloud migration and how Banks expects IT to evolve in the future.
To learn more about RSM, visit https://rsmus.com/our-insights/business-optimization.html?cmpid=ola:754855-acg-podcast-series:bb01
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US, a leading audit, tax and consulting firm focused on the middle market. It's part of a four-part series that looks at how to optimize business performance through the lens of cybersecurity, IT, finance and human capital.
Cybersecurity gaps can threaten businesses of all sizes, but for middle-market firms busy with growth and M&A, these lapses can be especially dangerous. Malia Mason, manager of governance risk strategy at RSM, joins the podcast to discuss ways cybersecurity has changed since the start of the pandemic and how the middle market can protect itself from the cyber risks facing businesses today.
She also talks about the intersection of cybersecurity and M&A, why threat actors are targeting companies undergoing an acquisition, and what buyers can do after a transaction to ensure they have the right cybersecurity infrastructure in place.
Mason points to cybersecurity trends she’s watching in the coming year, and she offers concrete ways that companies can enhance their security posture through smarter budgeting and by building a company-wide culture around cybersecurity.
To learn more about RSM, visit https://rsmus.com/our-insights/business-optimization.html?cmpid=ola:754855-acg-podcast-series:bb01.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US, a leading audit, tax and advisory firm focused on the middle market. RSM develops multi-generational relationships with family offices by providing tailored advisory services to help sustain the family’s vision in an evolving, digitally driven world. It's part of a five-part series highlighting issues relevant to family offices.
In this episode, Tony Wood, RSM’s global practice leader for family office, joins the podcast to discuss succession planning and intergenerational wealth transfer.
Wood begins by talking about what he’s observed among the family offices he works with in terms of their understanding of succession planning and how far along they are in the process. He offers insight into what works when creating a succession plan, and how to avoid conflict among family members in what can be an emotional process.
There are also ways families can prepare the next generation for involvement in the organization, including through tailored education and real-world experience working with carved-out assets.
Succession planning extends beyond the family itself, and Wood encourages families to create plans for roles held by non-family members as well. As family offices fill positions at the top of the organization, Wood notes a growing trend toward hiring leaders with legal backgrounds.
The conversation closes with a discussion about environmental, social and governance priorities and how ESG intersects with succession planning.
To learn more about RSM’s family office advisory services, visit rsmus.com/familyoffice.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US, a leading audit, tax and advisory firm focused on the middle market. RSM develops multi-generational relationships with family offices by providing tailored advisory services to help sustain the family’s vision in an evolving, digitally driven world. It's part of a five-part series highlighting issues relevant to family offices.
This episode features a discussion about technology, and how it can be used to address common challenges within family offices, like disparate systems that don’t communicate with each other, manual processes and more.
Joining the podcast for this episode are Mike Johnson, RSM partner from the firm’s Family Office Enterprise, and leader of the firm’s family office technology efforts; and Lauren Demas, a principal with RSM who works on PartnerSight and FamilySight—a suite of offerings for single and multi-family offices.
In the interview, Johnson and Demas talk about how integrated technology solutions can help family offices cope with the talent shortage, provide tailored data based on individual needs, and integrate data to make it work for the organization.
The two also discuss FamilySight, including how its capabilities can be used by different roles within a family office. Plus, Johnson and Demas provide real-world examples of how family offices have used the platform to improve operations and outcomes for their organization.
To learn more about RSM’s family office advisory services, visit rsmus.com/familyoffice.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US, a leading audit, tax and advisory firm focused on the middle market. RSM develops multi-generational relationships with family offices by providing tailored advisory services to help sustain the family’s vision in an evolving, digitally driven world. It's part of a five-part series highlighting issues relevant to family offices.
In this episode, RSM’s Global Family Office Markets Leader Bill Bijesse joins the podcast to discuss governance, and how creating a constitution and educating family members contributes to the family office’s long-term success.
Bijesse, who also leads global family office governance and best practice efforts for RSM, outlines the three steps a family office should take to set a solid foundation for its governance.
He also talks about the role a constitution plays in establishing a framework for decision-making, codifying the family’s values and history, mitigating conflict and more.
Finally, Bijesse discusses education, and why the younger generation isn’t the only group to focus on when educating family members. Throughout the interview, he shares anecdotes from his work advising families that underscore the human element of governance and why it can be an emotional exercise.
To learn more about RSM’s family office advisory services, visit rsmus.com/familyoffice.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US, a leading audit, tax and advisory firm. RSM develops multi-generational relationships with family offices by providing tailored advisory services to help sustain the family’s vision in an evolving, digitally driven world. It's part of a five-part series highlighting issues relevant to family offices.
In this episode, RSM’s family office tax leaders Ben Berger and Tommy Wright join the podcast to discuss five key areas that family offices should focus on.
They explain potential tax policy changes related to charitable giving and estate planning and offer various strategies that family offices can use as they plan for 2022 and beyond.
Berger also walks through the implications for a family office's choice of entity, and Wright explains why succession planning and governance are especially important for family offices today. (Succession planning and governance will each be discussed further in later episodes of this podcast series.)
Finally, the two talk about planning, reporting and the role of technology, and how integrated tools like RSM's FamilySight can address the needs of modern family offices.
To learn more about RSM, visit rsmus.com/familyoffice .
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US, a leading audit, tax and advisory firm. RSM develops multi-generational relationships with family offices by providing tailored advisory services to help sustain the family’s vision in an evolving, digitally driven world. It's part of a five-part series highlighting issues relevant to family offices.
Christina Churchill, principal and family office consulting leader for RSM, joins the podcast to talk about the structuring options available to family offices, and what to consider when choosing a location.
In the interview, Churchill outlines the pros and cons of establishing a single, multi- or virtual family office, along with key questions to ask when deciding on a structure. She also talks about outsourcing and how to determine which functions belong in-house.
The conversation closes with a discussion about the trend toward global expansion among family offices, and technology's role in supporting operations. Churchill offers a list of questions family offices can use to identify the technological tools that fit their needs, and she explains the benefits of using an integrated platform like RSM's FamilySight—a topic that will be explored further in a later episode of the five-part series.
To learn more about RSM, visit rsmus.com/familyoffice.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by Twin Brook Capital Partners, a direct lending finance company focused on providing cash-flow based financing solutions for the middle market private equity community.
Pete Notter, a partner at Twin Brook Capital Partners, joins the podcast to discuss middle market deal activity in 2021 and how businesses and industries have fared throughout the year.
In the interview, Notter describes the state of the market today and shares his perspective on how elevated levels of M&A activity are affecting deal processes and timelines.
He also points to observed trends in private equity sponsor behavior. Notably, as investment bank auction processes have become more exclusive, sponsors are getting more engaged earlier on and financing partners are often being brought in at a later stage than they have in the past. Notter talks about how Twin Brook has been able to accommodate those tighter timelines and the role that strong pre-existing relationships with clients play in today's active deal environment.
The episode closes with a discussion about Notter's outlook for the middle market and M&A activity in the year ahead.
To learn more about Twin Brook, visit www.twincp.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US LLP, a leading audit, tax and advisory firm focused on the middle market.
George Douvris, a partner in RSM’s M&A tax practice and the leader of the firm’s business acquisition and sale advice practice, joins the podcast to talk about the role that M&A tax plays in creating value in a private equity deal and why it’s a growing area of focus for investors.
In the interview, Douvris explains what private equity firms should consider when structuring a deal, and the tax attributes that they tend to focus on. He breaks down tax considerations for buyers as well as for sellers, and he shares best practices for when tax issues should be addressed during a transaction—including real-life success stories of how he helped clients deliver more value to their LPs.
Douvris also discusses proposed federal tax changes and the impact that new legislation could have on M&A tax.
To learn more about RSM, visit rsmus.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by Twin Brook Capital Partners, a direct lending finance company focused on providing cash-flow based financing solutions for the middle market private equity community.
Drew Guyette, chief credit officer and senior partner at Twin Brook Capital Partners, joins the podcast to discuss how a high-touch approach to underwriting and portfolio management supports a lender’s ability to serve sponsors and borrowers, and why team infrastructure and human capital is an integral part of that.
In the interview, Guyette describes the segmentation within the middle market and how relationship management and lines of communication differ across those segments. He also addresses the critical role of data, examining how a robust control set of deals and archive of information can position a lender to move more quickly and effectively in support of sponsors and borrowers.
The episode closes with a discussion about lender differentiation and what private equity firms and their portfolio companies are focused on when it comes to lender selection.
To learn more about Twin Brook, visit www.twincp.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US LLP, a leading accounting, tax and advisory firm dedicated to the middle market.
Lauren Demas, a principal with RSM who works on the firm's tax compliance technology tool, PartnerSight, joins the podcast to talk about what private equity firms should be doing with their tax data.
Demas previously worked at a top-five asset management firm, where she managed all of its U.S. tax compliance filings, and she has seen firsthand how tax data is employed throughout the lifecycle of the deal.
In the interview, she offers her perspective as both a client and a provider to explain why tax data is something that firms are looking at closely, the benefits of managing tax data more effectively, and the types of resources required to improve data management across the organization.
To learn more about RSM, visit rsmus.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Randy Schwimmer, co-head of senior lending at Churchill Asset Management and the founder and publisher of the Lead Left, joins the podcast to talk about the state of private credit today, including how inflation, rising interest rates and increased M&A activity could impact the asset class.
Schwimmer also discusses Churchill's portfolio and how it was positioned heading into the COVID-19 crisis, and he shares what he believes to be the greatest opportunities and challenges facing the middle market today.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by Twin Brook Capital Partners, a direct lending finance company focused on providing cash-flow based financing solutions for the middle market private equity community.
Garrett Ryan, partner and head of capital markets at Twin Brook Capital Partners, joins the podcast to discuss how deal activity has evolved since last March and the current state of middle market M&A.
In the interview, Ryan talks about the types of transactions that are moving forward in today's environment, including leveraged buyouts, add-on acquisitions and change of control situations. He also discusses lending terms, the broadly syndicated market's impact on the upper middle market, and the relationship-based nature of the lower middle market, where Twin Brook focuses.
The episode closes with a discussion about expectations for deal activity through the rest of 2021 and industries that are poised for an uptick in M&A.
To learn more about Twin Brook, visit www.twincp.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
David Magdol, president and chief investment officer of Main Street Capital, a business development company, joins the podcast to talk about deal activity over the past year, how the public markets treated Main Street Capital's stock, and the flexibility that comes with investing as a BDC.
Main Street Capital has a long history of investing in the lower middle market, and Magdol describes why this continues to be an attractive segment for the firm. He also talks about how Main Street approaches conversations with family-owned businesses as they consider selling, and the firm's philosophy for structuring deals.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Sun Capital Partners' Managing Director Dan Florian and Principal Stephen Cella join the podcast to talk about their firm's approach to health care investing.
Florian and Cella speak in depth about the firm's strategy for investing in health care, one of Sun Capital's target sectors. The two discuss the patient-focused mindset they look for in the businesses that Sun Capital backs, and how the firm helps its companies adopt consumer best practices.
They describe working with the management team at ClearChoice, a dental implant provider that Sun Capital has since sold, to improve call center operations and scheduling, which ultimately led to better appointment utilization and greater efficiency. Florian and Cella also discuss how they measure the effectiveness of initiatives designed to improve the patient experience at Sun Capital's health care businesses.
Sun Capital was highlighted in a recent Middle Market Growth cover story about the trend of health care consumerization, "Health Care's Retail Revolution." Read it here: https://middlemarketgrowth.org/health-cares-retail-revolution/
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Organizations are waking up to the call for greater diversity, equity and inclusion (DEI), and middle-market companies and financial services firms are no exception.
In this episode, Cornelia Cheng, managing director of Western region investments for Brightwood Capital Advisors, and Rich Grant, director of business development for Northlane Capital Partners, discuss the importance of DEI and how firms can become more diverse and inclusive.
Cheng and Grant are both members of ACG's DEI Task Force. They talk about the role of that group in driving change, and their own experiences benefiting from and contributing to DEI initiatives. They also share ways that businesses and individuals can contribute to diversity and inclusion, from rethinking hiring practices and what they look for in candidates, to investing in minority-owned businesses.
ACG's DEI policy and resources, developed by the DEI Task Force, are available online here: https://www.acg.org/about/dei-policy-resources
This episode is brought to you by ACG JobSource, a job board and career resource for the middle market. Find your next role or post an open position here: https://www.acg.org/membership-tools/acg-jobsource
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Paul Carbone, president and managing partner at Pritzker Private Capital, a family investment firm based in Chicago, joins the podcast to talk about his firm's investment activity over the past year, the opportunities and risks created by the pandemic, and the benefits of flexible capital.
Carbone also discusses several new initiatives from Pritzker Private Capital, including the Pritzker Private Capital Advisory Board and PPC University. Plus, he talks about the advantages for founders of partnering with family investors, how Pritzker Private Capital's committed club strategy works, and whether he expects direct investing by families to continue.
Find more family office-related content at https://www.acg.org/networks/family-offices/family-office-content-series. Learn more about RSM US LLP, the sponsor of ACG's Family Office Series, at www.rsmus.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is part of ACG's Family Office content series, brought to you by RSM US LLP, a leading accounting, tax and advisory firm dedicated to the middle market.
In this episode, Michael Beduze, managing partner of Da Vinci Global Consulting, and Tom Stewart, chief knowledge officer at AchieveNext, discuss the family dynamics that can impact the success of a family office.
Beduze and Stewart talk about why family dynamics are frequently overlooked, why advisers should delve into so-called "soft" issues to ensure a better outcome for their family office clients, and how to address family dynamics when a business is involved.
They also point to ways that families can develop their non-financial wealth, and how to engage members of the younger generation to instill a stewardship mentality needed for multigenerational growth and success.
Learn more about our guests' firms: Da Vinci Global Consulting: https://www.davincigc.com AchieveNext: https://www.achievenext.com
Find more family office-related content at https://middlemarketgrowth.org/category/middle-market-trends/family-office/. Learn more about the series sponsor, RSM, at www.rsmus.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Kevin Depew, RSM US LLP's deputy chief economist and leader of the firm's national industry eminence program, returns to the podcast to discuss the state of the U.S. economy in the fourth quarter and his outlook for 2021.
Depew discusses RSM's forecast of 4% GDP growth next year and the upside risk to those projections, and whether the sentiment of middle-market business leaders aligns with optimism about broader economic performance next year.
During the conversation, Depew also weighs in on the recent jobs numbers and the potential economic impact of a declining labor participation rate. He also discusses policy-related issues that could affect the middle market, including the Treasury Department's move to end several federal aid programs, and the potential for a multitrillion dollar infrastructure bill. Plus, he offers insight into the Biden administration's economic policies based on the president-elect's cabinet appointments.
This episode is brought to you by RSM US LLP, a leading accounting, tax and advisory firm dedicated to the middle market. www.rsmus.com
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This fall, Middle Market Growth magazine announced its first-ever awards and recently extended the application deadline to December 15.
On this bonus episode of the podcast, Middle Market Growth Editor-in-Chief Katie Mulligan gives a brief overview of the awards categories, who's eligible, the recognition for winners, and how to apply.
Thanks to Cambridge Global Payments, sponsor of the Innovation Award, and Insperity, sponsor of the Workplace Award.
Learn more about the Middle Market Growth Awards and find all application materials at https://middlemarketgrowth.org/middle-market-growth-awards/
This episode is brought to you by Twin Brook Capital Partners, a direct lending finance company focused on providing cash-flow based financing solutions for the middle-market private equity community.
Rich Christensen, a senior partner with Twin Brook Capital Partners, joins the podcast to discuss how his firm has been working with private equity sponsors to navigate the disruption caused by COVID-19 as well as some of the deal and lending trends underway.
Christensen looks back on 2020, recapping Twin Brook and the broader market's activity throughout the year. Many of the sponsors his firm has worked with are longstanding relationships, which benefited both parties through open communication and trust—even during the first peak of COVID in the spring. He builds on his comments about the importance of strong lending relationships through both good times and bad that were featured in a recent Middle Market Growth magazine profile of Twin Brook.
The episode closes with a discussion about the industries that have proven most resilient throughout the year.
The Middle Market Growth profile of Twin Brook is available here: https://middlemarketgrowth.org/in-focus-in-challenging-times-lender-relationships-are-key/
To learn more about Twin Brook, visit https://twincp.com/.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by QBE North America, part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide.
Eric Sanders, QBE North America's head of claims, joins the podcast to discuss the role of an insurance claims department as an "economic first responder," and he offers ways that businesses can tap into the expertise and resources offered by the claims team before a crisis occurs.
Sanders outlines best practices for what to do in various loss scenarios, plus how to achieve the best claim results. He stresses the importance of building rapport with one's claims professional, and describes how to strengthen that relationship. He also highlights emerging risk areas for 2021 that business leaders should keep an eye on.
Earlier podcast episodes featuring QBE leaders highlighted the risks to middle-market companies revealed by the "Mid-size Company Risk Report," based on a survey conducted by QBE and ACG, as well as the drivers behind increased liability and litigation risk.
Listen to previous podcast episodes featuring QBE professionals:
Surveying Risk in the Middle Market with QBE: https://middlemarketgrowth.org/podcast-surveying-risk-in-the-middle-market-with-qbe/
Rising ‘Social Inflation’ Is Putting Midsize Businesses at Risk. Here’s Why: https://middlemarketgrowth.org/podcast-qbe-on-litigation-and-liability-risk/
Find the full risk report on QBE's website: www.qbe.com/us/risk-report.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Michael Ewald, the global head of private credit at Bain Capital Credit, joins the podcast to discuss how private credit has fared during the pandemic and emerging trends he's watching within the asset class, including a shift toward greater protections for lenders.
Ewald, who serves as portfolio manager for the Middle Market Credit and Senior Direct Lending strategies at Bain, and as a member of the firm's Credit Committee, also speaks about his group's strategy during the crisis, how they've applied lessons learned through previous downturns, and the ways he expects the events of 2020 to shape the investment environment in the future.
At the end of the conversation, Ewald talks about the role that environmental, social and governance factors play in Bain Capital's investment decisions, as well as the firm's commitment to racial equity and social justice. More details about their position and initiatives is available at baincapital.com.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by QBE North America, part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide.
John Beckman, QBE North America's chief underwriting officer, joins the podcast to discuss the risks to businesses posed by liability and litigation. Together, they represent the top risk facing midsize companies, according to findings from a recent QBE survey that examined risk in the middle market.
In the second of three podcast episodes featuring QBE leaders, Beckman explains the concept of "social inflation," a key driver for increased liability and litigation risk. He also outlines what businesses can do to protect themselves, and the technology solutions available to help mitigate risk.
An earlier podcast episode featured Tom Fitzgerald, president of QBE North America’s Specialty & Commercial business, who described the top macro risks revealed by the survey: https://middlemarketgrowth.org/podcast-surveying-risk-in-the-middle-market-with-qbe/
Check back in the coming weeks to hear the final interview with QBE and a further exploration of risk in the middle market. Find the full risk report on QBE's website: https://www.qbe.com/us/risk-report.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Two co-founders of Vertical Bridge, Alex Gellman and Bernard Borghei, join the podcast to discuss the pandemic’s impact on telecommunications infrastructure and on their company, which owns and manages 288,000 sites nationwide, including wireless and broadcast towers, rooftops, land parcels and billboards.
A privately held company based in Boca Raton, Florida, and the focus of Middle Market Growth‘s January/February 2020 cover story, Vertical Bridge was founded in 2014, although Gellman and Borghei have been active in the space for much longer. They talk about the evolving state of wireless communications, recent M&A activity, threats posed by the “digital divide,” and opportunities for private capital to participate in the industry’s growth.
The company also recently became carbon neutral, the first tower company to do so. Gellman and Borghei talk about how Vertical Bridge achieved that distinction, its philosophy around corporate citizenship, and its charitable giving through the Vertical Bridge Charitable Network. More info is available here: https://www.verticalbridge.com/vertical-bridge-charitable-network-0
Read the Middle Market Growth cover story featuring Vertical Bridge here: https://middlemarketgrowth.org/cover-bridging-the-21st-century/
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Kevin Depew, RSM's deputy chief economist and leader of the firm's national industry eminence program, returns to the podcast to discuss the state of the U.S. economic recovery, one that has revealed an underlying K-shaped economy.
Depew also explains the impact of recent policy changes from the Federal Reserve, along with the top concerns weighing on middle-market business leaders. He assesses the federal policy response to the pandemic, including how the Main Street Lending program could be improved to better support midsize businesses.
As business leaders think about the future, Depew recommends that they anticipate greater government involvement in the economy akin to that of the 1960s and 1970s—and why that might not be a bad thing.
This episode is brought to you by RSM US LLP, a leading accounting, tax and advisory firm dedicated to the middle market.
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
In July, law firm Katten published a report about private equity activity in the animal care sector, based on survey responses from private equity investors and animal care operators.
Kimberly Smith, a partner and co-chair of the Mergers & Acquisitions and Private Equity practice at Katten, joins the podcast to walk through those survey findings and what they reveal about how investors' outlook on the industry was impacted by the pandemic, and why animal care operators' sentiment toward private equity is changing.
Smith also points to emerging opportunities in the animal care industry, what animal care practice owners say they want to hear from prospective buyers, and how an influx of investors is affecting the market.
Katten's full report, "Pets a Good Bet: Private Equity Zeroed In on Animal Care, Survey Finds," is available here: https://katten.com/webfiles/PrivateEquityAnimalCareReport.pdf.
Middle Market Growth magazine's September/October issue explored private equity's interest in a related industry, pet products. That article is available here: https://middlemarketgrowth.org/the-round-resilient-pet-industry-shows-private-equity-is-barking-up-the-right-tree/
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
The economic crisis caused by COVID-19 has led many businesses to focus on challenges related to working capital, supply chain, or the accelerated shift from brick-and-mortar to e-commerce. Yet alongside these urgent priorities, talent planning continues to be important, particularly as companies position themselves for the post-pandemic future.
Bob Ryan, a partner at Shields Meneley Partners, and Keith Goudy, the managing partner at Vantage Leadership Consulting, return to the podcast to discuss the pressing issues related to talent management and hiring that business leaders and private equity owners are grappling with today.
Drawing on their experience working with clients, Ryan and Goudy describe how the COVID crisis has changed what companies are looking for in their leaders, and how to lead effectively when employees are working from home. They offer actionable tips for advancing diversity and inclusion initiatives in a virtual work environment, and they explain why succession planning is now more important than ever.
Ryan and Goudy first appeared on the Middle Market Growth Conversations podcast last year, in an episode titled "How to Get Hired at a Private Equity-Owned Company," available here: https://middlemarketgrowth.org/podcast-get-hired-at-a-private-equity-owned-company/
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by QBE North America, part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide.
Tom Fitzgerald, president of QBE North America’s Specialty & Commercial business, joins the podcast to discuss a recent survey that explores the risks and concerns facing midsize companies in 2020.
Commissioned by QBE in partnership with the Association for Corporate Growth, the survey identifies which macro risks are weighing heaviest on the minds of middle-market leaders, along with their unmet risk-management needs.
In the first of three podcast episodes, Fitzgerald outlines the top macro risks revealed by the survey, and he describes some of the specific risks related to the pandemic, including worker safety and rehiring processes.
Check back in the coming weeks to hear the next two interviews with QBE and a further exploration of risk in the middle market. Find the full risk report on QBE's website: https://www.qbe.com/us/risk-report
The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Closing a deal in 2020 can be challenging, particularly when the parties involved operate in different countries. Yet HKW announced in July that its portfolio company Fresh Direct Produce, a fresh produce importer in Western Canada, had acquired Mike & Mike's Organics, a distributor of fresh certified organic fruits and vegetables headquartered in Woodbridge, Ontario.
On the podcast, HKW Partner John Carsello and Vice President Tom Shaw describe how they moved the deal forward during the pandemic, despite restrictions on travel to Canada from Indianapolis, where HKW is based, and why Mike & Mike's was an attractive target.
Carsello and Shaw are joined by Davis Yung, Fresh Direct Produce's president and co-founder. Yung describes his company's growth trajectory leading up to COVID-19 , and how it has dealt with supply chain and safety challenges. He also offers insight into the Canadian grocery market, and how it compares with its U.S. counterpart.
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
The COVID-19 outbreak has wreaked havoc on the consumer products industry, prompting apparel and beauty brands to find ways to remain relevant. Meanwhile, many food brands and grocery retailers have seen unprecedented demand from customers who are now eating more meals at home.
In this episode of the podcast, Robert von Furth, a managing director in Stout’s Investment Banking group, discusses how various categories within the consumer product space are coping with disruption, and which will be most attractive to buyers.
He also describes what he's seeing in the middle-market deal environment more broadly, including the availability of credit, valuation challenges, and how the pandemic is changing due diligence.
The podcast interview expands on themes that von Furth writes about in the September/October edition of Middle Market Growth magazine, which ACG members will receive later this month.Access the archive here: https://issuu.com/middlemarketgrowth
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Fewer than one-third of companies that come to market end up selling successfully. Deal-makers have long sought to improve the odds by adding to their contact lists, but Denise Logan argues that establishing deeper relationships is a better solution.
Logan is the author of "The Seller's Journey," a book she wrote based on her work advising business owners and their professional teams as they navigate the complex emotional journey of selling a business.
On the podcast, Logan describes how a lack of trust causes many deals to fall apart and offers tips for how private equity firms and investment banks can establish better working relationships. She cites examples of deals imperiled by family strife behind the scenes and professional vendettas between parties on both sides of the table.
Ultimately, the trust required to close a deal successfully hinges on building stronger relationships, and Logan offers tips for how deal-makers can shift away from collecting new contacts and toward deepening their existing relationships. She suggests following the lead of basketball legend Michael Jordan, whose efforts to connect with referees paid off on the court.
"The Seller's Journey" is available for purchase through Logan's website, deniselogan.com/the-sellers-journey.
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Melissa Mounce, a managing director focused on leadership talent at private equity firm GTCR, discusses human capital management and recruitment strategies, and why this is an area where more and more private equity firms are focusing.
During the conversation, Mounce describes GTCR's approach to talent within its portfolio, and she points to the attributes that make a portfolio company leader successful--and which qualities tend not to be a good fit. She weighs in on how the leadership skill set has evolved over the years as businesses adapt to new technology and digitization.
Mounce also comments on current talent and workforce trends, including record-high unemployment, the shift toward more permanent remote-work arrangements, and the continued importance of diversity and inclusion initiatives.
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This episode is brought to you by RSM US LLP, a leading accounting, tax and advisory firm dedicated to the middle market.
Last week, the Labor Department published a jobs report that showed stronger employment numbers than expected. Yet soon after the report's release, it became clear that the unemployment rate was likely much higher than official figures suggested.
Kevin Depew, RSM's deputy chief economist and leader of the firm's national industry eminence program, returns to the podcast to give an economic update for the second quarter, including a look at the labor market and why the most recent government unemployment figures were too low.
He also explains why the stock market continues to reflect optimism despite pain in the real economy, and how that dislocation could impact economic growth.
Depew goes on to describe sentiment among middle-market business leaders and how the crisis has hastened new investments in technology, and he offers his prediction for the shape of an eventual economic recovery.
This episode is brought to you by RSM US LLP, a leading accounting, tax and advisory firm dedicated to the middle market.
It features an extended interview with Anthony DeCandido, a partner in RSM's financial services practice, and Michael Fanelli, a transaction advisory services partner with RSM.
Originally broadcast as a video interview on ACG's GrowthTV, the interview addresses the state of M&A in the middle market, including a look at deal activity, industries where deals are happening and valuation trends.
Additional topics covered on the podcast include alternative data and where deal-makers are looking for new sources of information; how to analyze business performance in today's environment; and proposals coming out of Washington that would restrict M&A activity.
To watch the video interview and access ACG's full video library, visit acg.org/growthtv. To learn more about RSM, visit rsmus.com
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit acg.org.
Mitch Cahn, president of Unionwear, a maker of custom branded accessories, spoke with ACG Global CEO Tom Bohn about the new sales strategy that prompted ACG New Jersey to honor Unionwear with a Corporate Growth Award.
Unionwear's business, like many others, has changed over the past few months, including a shift to producing personal protective equipment, and Cahn describes how they were able to pivot.
Unionwear's products also include baseball hats, backpacks, binders and more, and it manufacturers them all in the United States using union labor, making it attractive to presidential campaigns looking to order swag. At the end of the interview, Mitch hints at whose hats, Biden's or Trump's, are expected to sell fastest and why an election year is good for business.
This interview was originally broadcast on ACG's GrowthTV. Watch it at acg.org/growthtv.
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Tyler Brennan, founder and CEO of RaceDayQuads, spoke with Middle Market Growth about how he started his e-commerce business, which sells components for drones, with a focus on the first-person-view drone racing market.
Brennan founded the company five years ago while he was a 21-year-old college student, and he's managed its warehouse in Florida remotely for most of that time. He continues to lead the business, which has grown to 30 employees, even as he serves full time in the U.S. Air Force as a first lieutenant and fighter pilot stationed in North Carolina.
Many business leaders have been forced to manage their operations remotely, and Brennan offers advice based on his own experience. He also talks about the impact of COVID-19 on RaceDayQuads' supply chain, and he discusses the regulatory challenges facing the industry.
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
This week's podcast episode features Jane Miller, CEO of Lily's, a maker of sugar-free chocolate. Originally broadcast on ACG's GrowthTV, Miller speaks with ACG CEO Tom Bohn about leading Lily's through the disruption caused by COVID-19 and the support the business has received from its private equity backer, VMG Partners.
Although the company is in a strong financial position, Miller says Lily's has had to act quickly to protect the safety of employees. She also describes how her leadership style has changed at a time when everyone is working remotely, and how the company has adapted its digital marketing efforts and messaging in the current environment.
Lily's was featured in the March/April cover story of Middle Market Growth magazine, which highlighted VMG and the entrepreneur-led brands it has helped scale, including Spindrift, Justin's, Perfect Snacks and many others. That article is available in the MMG archive: middlemarketgrowth.org/cover-growing-a-healthy-portfolio/.
To watch interviews with Jane Miller and many other business leaders, visit acg.org/growthtv.
Terry Graunke, chairman and CEO of Erie Street, an independent advisory firm based in Chicago, spoke with Middle Market Growth last week about how he's leading his firm through the economic disruption caused by the coronavirus outbreak.
Graunke launched his first business in college. He has gone on to found 11 startups and has been involved with 43 separate operating businesses over the course of his career as an operator and investor. He describes what he's learned leading companies through past downturns and how he's applying those lessons today—from offering fitness perks to employees to communicating difficult news honestly and transparently.
Erie Street recently rebranded from Erie Street Capital and Graunke explains the value creation philosophy behind that change, and how the firm supports businesses through its advisory and consulting services and capital investment.
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
Today's episode is brought to you by RSM US LLP, a provider of audit, tax and consulting services focused on the middle market. It features Kevin Depew, RSM's deputy chief economist and leader of the firm's national industry eminence program.
Depew provides an overview of the monetary and fiscal policy response to the coronavirus outbreak, and how it compares to the stimulus package implemented during the financial crisis over a decade ago. He also describes the unique challenges facing midsize businesses and the programs that could help them stay afloat.
Ahead of Thursday's jobs report, Depew offers a preview of what we should expect, along with other real-time indicators that he's watching to gauge the economic damage. He likens current events to a natural disaster and makes the case for a rapid recovery for the middle market, once the public health crisis is addressed and businesses can reopen their doors—although when that will happen remains unclear.
Middle Market Growth will continue to report on the fallout from the coronavirus and its impact on the economy, so check middlemarketgrowth.org regularly. Meanwhile, ACG and its chapters are also offering content and resources for ACG members. Visit acg.org to see the latest.
RSM is also providing information for middle-market business leaders. Check out the Real Economy blog at realeconomy.rsmus.com, where you can subscribe for daily updates. RSM will also be increasing the frequency of its Middle Market Business Index to monthly for the next several months, and it has built a COVID-19 resource center with insights for midsize businesses. All of that is available at rsmus.com
After the ACG Chicago Middle Market Manufacturing Conference, Middle Market Growth sat down with Craig Smith, an enterprise executive with Plex Systems, to talk about cloud-based systems, leveraging data and the skills gap facing midsize manufacturers today.
In this episode, Smith describes how Plex’s solutions can help manufacturers cope with supply chain disruptions, something that’s especially relevant today because of the coronavirus outbreak, which has had a major impact on manufacturing and global supply chains.
Find more content about trends facing midsize businesses and deal-makers at middlemarketgrowth.org.
During the ACG Chicago Middle Market Manufacturing Conference, Middle Market Growth sat down with Jon Walker, business development manager at EOS North America, a provider of 3D printing solutions that include systems, software, materials and services.
Walker explains how 3D printing and additive manufacturing differ from traditional manufacturing techniques, and how they can be used in applications ranging from aerospace and automotive to medical devices.
The U.S. is the No. 1 market for industrial-grade 3D printers, and according to Walker, additive manufacturing is the “great equalizer” for American companies in the face of international competition. He also describes how the technology is evolving with respect to applications and materials, and he points to areas of opportunity for additive manufacturing in the future.
Jennifer Fondrevay, founder and chief humanity officer of Day1 Ready, describes her research into why so many mergers and acquisitions fail, and how acquirers and investors can address workforce considerations earlier in the M&A process.
Fondrevay has interviewed a number of C-level leaders, HR professionals and PE investors, and she's written on the topic for Harvard Business Review. In late 2019, Fondrevay published her book, "NOW WHAT?: A Survivor's Guide for Thriving Through Mergers & Acquisitions," currently available for order on Amazon. https://www.amazon.com/NOW-WHAT-Survivors-Thriving-Acquisitions-ebook/dp/B07ZQ7SXDP
This episode was first broadcast in August 2018. Learn more about Fondrevay and her research at https://jenniferjfondrevay.com/.
This week's episode features Chris Voss, the FBI's former lead international hostage negotiator and CEO of The Black Swan Group, which advises Fortune 500 companies on performing complex negotiations.
Voss addressed the key elements that all negotiations share, from a middle-market M&A transaction to a high-stakes hostage crisis. He also suggested strategies for setting up a negotiation for success, red flags to watch for, and the best way to relay bad news. Plus, he shared real-world anecdotes from his time in the FBI.
To learn more about the topic, pick up Voss' book, “Never Split the Difference: Negotiating as if Your Life Depended on It,” or subscribe to The Black Swan Group's newsletter, "The Negotiation Edge," at blog.blackswanltd.com/the-edge.
This episode was originally released on Dec. 18, 2018.
During the Toronto ACG Capital Connection, Middle Market Growth sat down with Elmer Kim, who has spent more than 25 years working with family offices. He currently serves as chief investment officer for the Hyatt Bangia Family Office.
In this episode, Kim describes how he works with families to craft their investment strategy. He also spoke about how the family office model in Canada has evolved and the growing trend of direct investing.
For advisers looking to work with family offices, Kim offers his perspective on how to break into the space, and he outlines some of the challenges faced by young investment professionals who work in a family office environment.
Visit acg.org to learn more about the family office programs offered by ACG chapters, and check out intergrowth.org for details about the Family Office Summit on the final day of InterGrowth, ACG's annual conference.
Kevin Depew, deputy chief economist and industry eminence program leader for RSM US LLP, spoke with Middle Market Growth about recent trade developments and the underlying issues impacting U.S. economic growth.
The U.S. recently agreed to a "phase one" trade deal with China and signed the USMCA with Canada and Mexico to replace the North American Free Trade Agreement. Depew explained what those deals mean for the U.S. economy and midsize businesses in the year ahead.
He also addressed challenges beyond trade, including the tight labor market and the reluctance of U.S. businesses to make much-needed productivity-enhancing investments. Uncertainty caused by the trade war and the 2020 U.S. presidential election have made business leaders cautious, a sentiment reflected in RSM's latest Middle Market Business Index, published on Dec. 19. Depew discussed the MMBI's findings and what they reveal about how middle-market leaders are planning for the future.
The full index is available at rsmus.com/economics/rsm-middle…ness-index-mmbi.html
To read more about trends in the middle market, visit MMG's website, middlemarketgrowth.org.
Jim Owen, a managing director and head of engineering and construction in Stout’s Investment Banking group, recently sat down with Middle Market Growth to discuss industry trends.
Owen outlined three primary areas driving interest from buyers in the construction and engineering space: aging infrastructure, demand for resilient construction that can withstand severe weather events, and green initiatives. He described which types of businesses are best positioned to capitalize on these trends, as well as the valuations he's seeing for construction and engineering firms.
As we head into 2020, Owen offered his outlook for M&A activity in the industry in the coming year and shared suggestions for how firms can prepare for an economic slowdown.
A Q&A with Owen will be featured in the January/February print edition of Middle Market Growth magazine, which ACG members will receive at the end of December. An online version will be available in early January on middlemarketgrowth.org.
Read more about Jim on Stout's website: https://www.stout.com/en/professionals/jim-owen/
The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
During the Association for Corporate Growth's Strategic Acquirer Summit, Middle Market Growth sat down with two corporate development leads to talk about their roles and how they approach M&A.
The first interview explores corporate development in the tech space and features Kate Anissimov, who recently joined Google, having previously worked in corporate development and strategy at Twitter. Anissimov described how she identifies and evaluates technology businesses, and what unique challenges are associated with tech M&A.
The second half of the podcast features Peter Troup, vice president of corporate development at Veritiv, a publicly traded B2B distributor of packaging, paper and janitorial and sanitation products, based in Atlanta. Troup described what Veritiv's M&A activity looks like, how the company's deal team is structured, and what competition and disruption look like in its space.
Anissimov and Troup both spoke about how they measure success in their deals.
To read more about trends in the middle market, visit our website, middlemarketgrowth.org.
Olympic swimmer Ryan Lochte is trying to repair his reputation after two suspensions that cost him valuable sponsorship endorsements and hurt his chances of qualifying for what would be his fifth Olympic games in 2020.
To try to fix the damage, the 35-year-old swimmer signed on to CNBC's "Back in the Game," in which former baseball player Alex Rodriguez helps athletes repair their finances and reputations, as he had to do a decade ago following revelations that he used performance-enhancing drugs.
Lochte accompanied Rodriguez to ACG's 2019 InterGrowth conference, where Rodriguez was speaking, and sat down with Middle Market Growth for an interview about the show, his swimming career, and how he plans to regain the public's trust.
Lochte was suspended from swimming in 2016 during the Rio Olympics, when he claimed he was robbed at gunpoint, which led to accusations that he filed a false police report. He was suspended again in 2018 after he posted a photo of himself taking an IV injection, which the U.S. Anti-Doping Agency prohibits under most circumstances. As a result of the suspensions, Lochte lost his sponsorship endorsements and much of his income.
Parts of this interview were included in the episode of "Back in the Game" featuring Lochte, which originally aired on Nov. 13. (https://www.cnbc.com/video/2019/11/07/full-opening-the-first-7-minutes-of-the-ryan-lochte-episode.html)
During the Toronto ACG Capital Connection conference, Middle Market Growth sat down with leaders from two technology-focused growth equity firms.
The first interview in this episode features Scottie Wardell, managing partner and co-founder of Integrity Growth Partners, a firm based outside of Los Angeles that invests in software and tech-enabled services businesses. Wardell discussed the role of data analytics in value creation and how her firm leverages data during sourcing and due diligence.
The second interview is with Lisa Melchior, founder and managing partner of VERTU Capital, a Toronto-based firm that invests in Canadian technology businesses. Melchior spoke about the tech investing landscape in Canada, why venture-stage companies have had an easier time attracting capital than their late-stage counterparts, and how VERTU works with entrepreneurs to take their businesses to the next level.
To read more about trends in the middle market, visit our website, middlemarketgrowth.org.
Kal Beidas, former president and CEO and current board member of Aetna Bearing Company, spoke with Middle Market Growth on the sidelines of the Great Lakes ACG Capital Connection in Detroit to discuss the impact of tariffs on midsize manufacturers and how trade developments are reshaping due diligence.
Aetna, a bearing manufacturer based in Livonia, Michigan, is among many U.S. businesses affected by the Trump administration's tariffs on Chinese goods. Beidas described the opportunity costs for companies as they divert resources to customer service, price negotiation with customers and price concessions with suppliers. He also discussed what companies should consider when looking to shift to suppliers outside of China, and he suggested ways to evaluate supply chain exposure when considering an investment.
To read more about trends in the middle market, visit our website, middlemarketgrowth.org.
Dug Song is vice president and general manager of Duo Security, which he founded in Ann Arbor, Michigan, in 2010 and sold to Cisco last year for $2.3 billion. He sat down with Middle Market Growth on the sidelines of the Great Lakes ACG Capital Connection in Detroit to talk about the origins of Duo, why he decided to sell it to Cisco, and how the company helped draw venture capital investors to Michigan.
"The things that you do while you're small get amplified in hypergrowth," Song said, while speaking onstage at the conference. On the podcast, he elaborated on that comment by describing steps Duo took to build a strong culture early on and as it grew to reach unicorn status, and how he ensured the business could maintain its values post-acquisition. He also weighed in on the state of the information security industry, and how he's seen it evolve over the last decade.
For more insights into corporate development and M&A, consider attending ACG's Strategic Acquirer Summit on Nov. 4-5 in Dallas. Designed for corporate professionals, the program will feature speakers from Microsoft, Twitter, Johnson & Johnson, Mark Cuban Companies, and many others. Visit acg.events/sas2019 to learn more.
To read more about trends in the middle market, visit our website, middlemarketgrowth.org.
Kevin Depew, RSM's deputy chief economist and industry eminence program leader, spoke with Middle Market Growth about RSM's Q3 U.S. Middle Market Business Index.
The index, which slipped to 129.4 from 132.3 in the third quarter, reflected a decline in confidence among middle-market executives from the previous period.
Depew notes that although any reading above 100 indicates confidence among business leaders, the latest survey was conducted prior to recent escalations in the trade war with China and so does not reflect uncertainty associated with those developments.
With a global slowdown in manufacturing underway, there's the potential for risk to spread to other industries, such as professional services or commercial real estate, Depew says. The Q3 MMBI report includes steps that middle-market companies can take to prepare, and he points to two as being particularly important for surviving the trade war.
At the end of the interview, Depew recommends "Capitalism without Capital: The Rise of the Intangible Economy," a book that he's reading as part of the industry analyst program he oversees at RSM.
To read the latest RSM US Middle Market Business Index, visit https://rsmus.com/economics/rsm-middle-market-business-index-mmbi.html
To read more about trends in the middle market, visit MMG's website, middlemarketgrowth.org.
Andrew McCabe, former acting director of the FBI, spoke with Middle Market Growth about the mounting threats posed to the public and private sectors by state-supported hackers.
McCabe chronicles much of his time with the FBI in his new book, "The Threat: How the FBI Protects America in the Age of Terror and Trump." He spent 22 years with the bureau, where he began his career as an agent in the New York field office. He worked high-profile cases, including the 2013 Boston Marathon bombing, the Clinton email investigation and the investigation into Russian interference in the 2016 election. He assumed the role of acting director of the FBI in May 2017.
On the podcast, he described his reaction to the findings of the Mueller report and whether he has seen an improvement in security leading up to the next presidential election. He also addressed how cyberattacks against U.S. businesses have evolved in recent years, the impact he expects the trade war with China to have on malign cyber activity targeting American companies, and how the FBI has adapted to increasingly advanced cyber threats.
The episode referenced in the intro, featuring Chris Voss, the former lead hostage negotiator for the FBI, is available on the MMG site: https://middlemarketgrowth.org/podcast-former-fbi-lead-hostage-negotiator-chris-voss/
To hear that episode and to read about trends in the middle market, visit middlemarketgrowth.org.
Jessica Robinson, co-founder of the Detroit Mobility Lab and president and executive director of the Michigan Mobility Institute, sat down with MMG on the sidelines of last week's Great Lakes ACG Capital Connection in Detroit to talk about training the engineering workforce of the future.
In Robinson's definition, mobility encompasses the transportation of not only people and goods, but also livestock, food, and even data and information. It also increasingly includes an emphasis on social and environmental considerations. She discussed her organization's focus on creating a talent pipeline for mobility careers, which require expertise in areas including software development, cybersecurity and data science. The skills gap is already causing a hiring bottleneck and threatens to limit the growth of mobility businesses in Michigan and beyond.
At the end of the conversation, Robinson weighed in on autonomous vehicles and when we'll see them on the roads.
To read more about trends in the middle market, visit our website, middlemarketgrowth.org.
Tom Turmell, founder and managing director of TMT Capital Partners, spoke with Middle Market Growth about how health care entrepreneurs are looking to grow their businesses, and the common questions he hears about private equity, which continues to show strong interest in acquiring physician practices.
In addition to his role at TMT, Turmell delivers and teaches a class to physician entrepreneurs at Northwestern University's Kellogg School of Management, where he serves as director on the executive education team and as an academic director. During the interview with MMG, he described what his Physician CEO class covers, and the questions he's heard from his students about selling to a private equity buyer.
Common concerns include loss of control, both in terms of the patient experience and in making key business decisions, as well as questions over future compensation for the doctors selling the practice and junior physicians alike.
Some physicians recall a spate of failed physician practice investments by PE firms over a decade ago, but Turmell says the private equity industry has learned from those past mistakes. Choosing the right investment partner remains critical, and he suggests considerations for physicians to keep in mind as they evaluate potential investors.
During the conversation, Turmell referenced an article published in MMG in May focused on physician practice M&A: https://middlemarketgrowth.org/the-round-private-capital-stitches-up-physician-practice-space/
That article was featured in a health care-themed edition of the magazine. The full issue is available here: https://middlemarketgrowth.org/read-the-may-june-2019-issue/
To read more about trends in the middle market, visit our website, middlemarketgrowth.org.
On the sidelines of ACG Denver's Rocky Mountain Corporate Growth conference, Middle Market Growth sat down with two corporate leaders from Colorado: Karla Nugent, founder and chief business development officer for Weifield Group, an electrical contractor; and Stuart Smith, CEO of Buehler Companies, a moving, logistics and storage company.
In this episode, Nugent and Smith discuss how their companies have grown since they were founded, the role of M&A and private capital, and dealing with disruption in their respective industries.
They also describe strategies they've used within their organizations to build a strong culture, and how they've addressed talent shortages. Nugent spoke about the career paths available in construction, an industry that has changed amid technological advancement; meanwhile, Smith discussed the impact of marijuana legalization in Colorado and how Buehler has adapted its own drug-testing policies.
Nugent and Smith were panelists during the Corporate Development Summit held at the start of the Rocky Mountain Corporate Growth conference in April. To build on the momentum of ACG Denver and other chapters with corporate development initiatives, ACG Global will host its inaugural Strategic Acquirer Summit in Dallas on Nov. 4-5. More information about the event, including eligibility criteria and registration details, is available at acg.events/sas2019.
Christopher Gavigan is co-founder and chief purpose officer for The Honest Company, the baby, home and beauty products company he started in 2012 with actress Jessica Alba.
On the podcast, Gavigan discussed his experience running a wellness brand, including building trust with customers, recovering from product recalls and reputation challenges, and competing at a time when consumer goods giants are pivoting toward healthy and safe ingredients.
Gavigan also talked about his latest venture, Prima, a wellness brand focused on the benefits of CBD and hemp, and what his role at The Honest Company looks like today.
To listen to past podcast episodes and read about the latest trends in the middle market and M&A, visit middlemarketgrowth.org.
Martin Okner, president and chief operating officer of dpHUE, sat down with MMG during the Association for Corporate Growth's InterGrowth conference to talk about the evolution of the beauty industry and how dpHUE's robust digital strategy is helping the company compete in today's market.
Okner, who will step into the role of ACG Global board chairman in September, described dpHUE's business model and products, which help customers who color their hair maintain and boost color between salon visits. Okner also shared some of the innovative ways the company is leveraging technology, including an app for salon professionals to order products for their clients while earning a commission, and dpHUE House, a content studio in Los Angeles frequented by celebrities and other influencers.
Read more about the "Age of Micro Beauty" in Okner's 2017 article, referenced on the podcast: https://www.linkedin.com/pulse/age-micro-beauty-martin-okner/
To read more about trends in the middle market, visit our website, middlemarketgrowth.org.
The Association for Corporate Growth's membership includes roughly as many corporate members as private equity, and a number of them are involved in the function of corporate development. As part of its efforts to help corporate development officers build their networks and share best practices, ACG will host its inaugural Strategic Acquirer Summit on Nov. 4-5, 2019 in Dallas.
On this episode of the podcast, ACG Global board members Brent Baxter, a managing director with Nolan and Associates, and Aaron Polack, head of business development at Lion Equity Partners, discussed the role of corporate members within ACG, corporate programming at the local ACG chapter level, and what attendees can expect from the upcoming summit.
To learn more about the Strategic Acquirer Summit and the criteria to attend, visit acg.org/events/strategic-acquirer-summit.
Kevin Depew, RSM's deputy chief economist and industry eminence program leader, spoke with MMG about the economic outlook for middle-market businesses and how they're responding to tariffs, technological change and a tight labor market.
During an interview on June 19, Depew discussed recent developments in the United States' trade dispute with China, the industries that will be most affected, and how middle-market companies are adapting.
RSM recently published its latest US Middle Market Business Index, and Depew discussed some of the key findings, including the positive outlook of executives in Q2. In the index, RSM noted a concern that the middle market is not in a position to make investments for the future, such as training for the modern workforce. Among the obstacles is the overwhelming number of options of new technology offerings and vendors, which many middle-market companies lack the resources to evaluate.
To read the latest RSM US Middle Market Business Index, visit https://rsmus.com/economics/rsm-middle-market-business-index-mmbi.html
To read more about trends in middle-market private equity investment, visit our website, middlemarketgrowth.org.
Whit Matthews, senior investment director at Aberdeen Standard Investments, sat down with MMG on the sidelines of the Association for Corporate Growth's InterGrowth conference to talk about what his firm looks for when selecting GPs to work with and some of the common missteps he sees private equity firms make during succession planning.
During the conversation, he also described his firm's relationship with independent sponsors, and he commented on some of the broader fundraising and investing trends he's watching.
To read more about trends in middle-market private equity investment, visit our website, middlemarketgrowth.org.
PitchBook's director of research and analysis, Nizar Tarhuni, spoke with MMG on the sidelines of the Association for Corporate Growth's InterGrowth conference about emerging areas for private equity investment.
Although opportunity zones have garnered attention for their tax benefits and economic development goals, Tarhuni doesn't expect to see widespread middle-market PE investment through that program, and he explained why. Technology, on the other hand, is becoming increasingly popular among PE investors. He described the subsets of tech that are attracting interest now and where he predicts we'll see more activity in the future.
To read more about trends in middle-market private equity investment, visit our website, middlemarketgrowth.org.
Today, SoulCycle is a well-known fitness brand with indoor cycling studios across the country. But back in 2006, the first SoulCycle opened in a former dance studio off of a rear lobby in New York City, a location that the company's co-founders, Elizabeth Cutler and Julie Rice, found on Craigslist.
On this episode of Middle Market Growth Conversations, Cutler describes how she and Rice built SoulCycle into a successful business, why she recommends the co-CEO management model, what it felt like to sell SoulCycle to fitness company Equinox in 2015, and the advice she'd give to other entrepreneurs considering an exit.
After this podcast interview, Cutler spoke onstage during a fireside chat at ACG's annual InterGrowth conference, the preeminent gathering for middle-market M&A professionals. Next year's event will be held in Las Vegas on April 20-22. Learn more at intergrowth.org.
Adam Boscoe, director of corporate development for Trimble, spoke with MMG about his company's M&A strategy, including what makes a target attractive, how Trimble's corporate development team is structured, and the types of deals he likes to see from investment bankers.
Trimble is a 40-year-old public company that provides advanced positioning solutions used in industries like agriculture, construction and transportation to increase productivity and improve safety. Boscoe estimates the company does about seven to 10 transactions each year, and in 2018 it completed two of its biggest deals to date.
During this episode, which was taped on the sidelines of ACG Denver's Rocky Mountain Corporate Growth conference, Boscoe also shared his perspective on deal terms today and how private equity buyers have impacted the market.
For listeners involved in corporate development, ACG Global is launching a new event called the Strategic Acquirer Summit, which will be held in Dallas on Nov. 4-5. Look for more information at acg.org.
Pauline Brown, the former chairman of North America for LVMH Moët Hennessy Louis Vuitton, reflects on her experience overseeing LVMH's portfolio of luxury brands in the company's largest market, and she offers insight into how high-end brands are faring in the changing retail landscape.
After leaving LVMH in 2015, Brown joined the faculty of Harvard Business School, where she teaches a course she developed called "The Business of Aesthetics." On the podcast, she describes why a business that prioritizes aesthetics—and the human connection it establishes with its customers—will position it for success relative to competitors who treat their products like commodities.
Brown, who has also held roles at The Carlyle Group, Estee Lauder and Bain, will speak on May 7 during ACG's InterGrowth conference in Orlando, following the women's breakfast. To learn more about the conference and to view the full speaker lineup, visit intergrowth.org.
Working for a private equity-backed business isn't for everybody. According to Bob Ryan, a partner at Shields Meneley Partners, only 1 in 5 professionals he works with in his firm's executive transition program is a fit for a leadership role at a PE portfolio company.
In this episode of the podcast, Ryan and Keith Goudy, managing partner at Vantage Leadership Consulting, discuss what it takes to thrive at a PE-backed company, how compensation is changing, and the strategies companies are using to attract talented leaders and employees alike.
At a recent ACG event in Detroit focused on cross-border trade, Middle Market Growth sat down with leaders from ACG's Detroit, Western Michigan and Toronto chapters. They weighed in on how issues like tariffs and NAFTA renegotiation are impacting middle-market companies, and whether legalization of cannabis presents an investment opportunity for ACG members.
The episode features interviews with Chris Letts, vice president at Morgan Stanley and president of ACG Detroit; Ben Gibbons, a partner with RSM Canada and a member of the ACG Toronto board of directors; and Eric Kamstra, a member of the board of ACG Western Michigan.
It was taped during the Cross-Border Connections conference, an event hosted by ACG Detroit, Western Michigan and Toronto in March.
Joseph Comartin, Canada’s consul general in Detroit and a former member of Parliament, spoke with MMG on the sidelines of the recent Cross-Border Connections conference hosted by ACG’s Detroit, Toronto and Western Michigan chapters. He discussed the trade relationship between the U.S. and Canada, the impact of the steel and aluminum tariffs, and a collaborative infrastructure project that promises to yield economic benefits on both sides of the border.
Lower middle-market companies are increasingly attracting interest from private equity buyers. To hear what it takes to successfully partner with these businesses, MMG sat down with Matt Petrucci, a partner with Plante Moran’s transaction advisory services team, and Brett Holcomb, a principal with private equity firm Prospect Partners.
Check out Part 2 of this interview to hear Petrucci and Holcomb discuss the role PE firms play in helping a company preserve its culture. They also describe the most innovative business models they’ve come across, and the broader trends they expect will impact middle-market investing.
In Part 2 of our interview with Matt Petrucci, a partner with Plante Moran’s transaction advisory services team, and Brett Holcomb, a principal with private equity firm Prospect Partners, the two discuss the role PE firms play in helping a company preserve its culture.
They also describe the most innovative business models they’ve come across and the broader trends they’re watching. In case you missed it, check out Part 1 of the interview, featuring a discussion of what it takes to invest successfully in the lower middle market.
During the Atlanta ACG Capital Connection, MMG Editor-in-Chief Kathryn Mulligan sat down with Jim Douglass of Fulcrum Equity Partners and Scott Linch of DHG Private Equity to discuss dealmaking in the Southeast, industries to watch, and a new accounting change that’s impacting private equity portfolio companies.
Joe Brusuelas, chief economist for RSM, speaks with MMG's editor-in-chief about what U.S. middle-market managers should be watching as the economy slows and risk factors mount, notably the trade dispute with China. He weighs in on the likelihood of a 2019 recession in the U.S., the impact of the Fed's decision to pause its rate hikes, and how to plan for NAFTA modernization.
Brusuelas also discusses his middle-market reading recommendations: a paper from the San Francisco Federal Reserve titled “How Much Could Negative Rates Have Helped the Recovery?”, and “Capitalism without Capital: The Rise of the Intangible Economy” by Jonathan Haskel and Stian Westlake.
Mark Heimbouch, president and chief operating officer of Worldpay, speaks with MMG’s editor-in-chief a year after Cincinnati-based Vantiv acquired Worldpay Group, based in London, in one of the largest transactions in the payment processing industry in the last several years.
Heimbouch discusses how the deal came about and the post-close integration process at the combined company, named Worldpay. He also weighs in on how cybersecurity considerations factor into M&A decisions and the new opportunities presented by legalized gambling in the U.S.
Registration for ACG's annual InterGrowth conference is now open, so MMG sat down with two veteran attendees to hear about what first attracted them to the middle-market dealmaking event, how they maximize their time there, and InterGrowth's impact on their careers.
Ramsey Goodrich, managing partner at Carter Morse & Goodrich, and Karin Kovacic, managing director for the East Coast region at Monroe Capital, also discuss which career level InterGrowth is best suited for, their favorite speakers from past years, and the worst mistake you can make when preparing for the conference.
Learn more at https://www.intergrowth.org. Register by visiting https://www.mylibralounge.com/sites/ig2019/attendee.
This week's episode features Adrianna Czornyj, a partner with Persistence Capital Partners, the only private equity firm in Canada focused exclusively on health care investing.
Czornyj addressed the question she's asked most frequently: How do you invest in health care in a country with a public health care system? She also spoke about the types of investments Persistence targets, the differences in health care regulations across provinces, and the growing number of U.S.-based private equity firms entering Canada to invest in the health care industry.
This podcast episode was recorded during the Toronto ACG Capital Connection. Czornyj will serve as co-chair for the 2019 conference.
This week's episode features Chris Voss, the FBI's former lead international hostage negotiator and CEO of The Black Swan Group, which advises Fortune 500 companies on performing complex negotiations.
He addressed the key elements that all negotiations share, from a middle-market M&A transaction to a high-stakes hostage crisis. He also suggested strategies for setting up a negotiation for success, red flags to watch for, and the best way to relay bad news. Plus, he shared real-world anecdotes from his time in the FBI.
To learn more about the topic, pick up Voss' book, “Never Split the Difference: Negotiating as if Your Life Depended on It,” or subscribe to The Black Swan Group's newsletter, "The Negotiation Edge." Sign up for the free newsletter by texting fbiempathy to 22828, or subscribe online at https://blog.blackswanltd.com/the-edge.
Two technology experts sat down with MMG Editor Kathryn Mulligan at the Toronto ACG Capital Connection conference to discuss innovation in artificial intelligence and fintech.
The first half of the episode features an interview with Shelby Austin, managing partner at Omnia AI at Deloitte Canada, who discusses middle-market companies’ adoption of artificial intelligence, how AI will alter employment, and the role governments and corporations play in shaping the future of work.
In the second interview, Christine Ing, co-lead of the technology practice at McCarthy Tetrault, talks about financial technology, including how fintech companies should weigh cybersecurity and regulatory risks, and new ways private equity firms can leverage big data to enhance their due diligence.
Frank McGrew, managing partner at McNally Capital, returned to the podcast to discuss new guidance from the U.S. Treasury Department for investing in opportunity zones, including how to file, the time period in which investments must be made, and stipulations for investing in operating businesses.
The 2017 Tax Cuts and Jobs Act created the opportunity zone program, which incentivizes investors to deploy capital gains into economically disadvantaged areas. McGrew provided an overview of opportunity zones in an earlier episode of this podcast.
McNally Capital and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for information purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
Joe Brusuelas, chief economist for RSM, joined MMG Editor Kathryn Mulligan to provide an economic update for the middle market, including how the tight labor market, trade tensions and monetary policy will impact midsize companies.
Brusuelas expects the labor shortage will lead to production bottlenecks next year, prompting companies to substitute robotics and automation for human labor, and he outlined why it's essential that middle-market participants closely watch moves from the Federal Reserve.
Additional insight into these topics is available in RSM's latest Real Economy report, available at https://rsmus.com/economics/the-real-economy.
Matt Sondag, leader of West Monroe Partners' M&A practice, and Brian Jacobsen, managing partner of West Monroe Capital, joined MMG Editor Kathryn Mulligan to discuss the business and technology consulting firm's new co-investment strategy, including how it began and the types of deals the firm looks for. They also weighed in on trends impacting middle-market M&A heading into 2019.
Frank McGrew, managing partner at McNally Capital, spoke with MMG Editor Kathryn Mulligan about a provision of the 2017 tax reform legislation designed to attract capital to economically disadvantaged communities. Investing in opportunity zones can benefit family offices and private equity firms from a tax perspective, and McGrew weighed in on how his firm is approaching the program.
McNally Capital and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for information purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
Orin Winick, national director of investment advisory for Aspiriant, spoke with MMG Editor-in-Chief Kathryn Mulligan about the increase in entrepreneurs selling their businesses and emerging trends in wealth management—from using storage facilities as a means of generating cash flow, to investing in the nascent cannabis industry.
This episode was recorded onsite at the annual ACG Los Angeles Business Conference.
Langston Emerson, a partner with The Cypress Group, spoke with MMG Editor-in-Chief Kathryn Mulligan about current legislative proposals relevant to the middle market. He also offered insight into the upcoming midterm elections, including key races to watch and how a shift in control of the House of Representatives could impact the legislative agenda.
To learn more about ACG's public policy and advocacy initiatives, visit acg.org/public-policy.
Chris Jackson, Deloitte Private technology leader and managing director of Deloitte Consulting, spoke with MMG Editor Kathryn Mulligan about his firm's recent 2018 Mid-Market Technology Trends Report, which examined the intersection of talent and technology at middle-market companies.
Darin Brock, head of business development for Toronto-based TorQuest Partners, spoke with MMG Editor Kathryn Mulligan about the M&A environment in Canada, attractive investment areas for TorQuest, and several of the firm's recent investments, including A&W's Canadian franchise.
Jennifer Fondrevay, founder and chief humanity officer of Day1 Ready, spoke with MMG Editor Kathryn Mulligan about her research into why so many mergers and acquisitions fail, and how acquirers and investors can address workforce considerations earlier in the M&A process.
Fondrevay has interviewed a number of C-level leaders, HR professionals and PE investors, and she's written on the topic for Harvard Business Review and in a forthcoming book. Learn more about her writing and research at jenniferjfondrevay.com.
Dr. Ronit Molko, founder and principal of Empowering Synergy, spoke with MMG Editor Kathryn Mulligan about the expanding market for autism services and the role that private equity firms play in helping companies in this industry grow, improve business processes, and ultimately drive better outcomes.
Jim Mintz, founder and CEO of Mintz Group, spoke with MMG Editor Kathryn Mulligan about how the #MeToo movement is influencing companies' investigations of prospective employees and board members, and how it's impacting due diligence during an M&A transaction.
Drawing on more than 30 years of experience conducting investigations all over the world, Mintz weighs in on how to uncover past behavior of sexual misconduct and what companies frequently get wrong.
Michael McAdoo, a senior adviser with the Boston Consulting Group, spoke with MMG Editor Kathryn Mulligan about global trade issues, including the Trump Administration's steel and aluminum tariffs, trade disputes with China and the status of NAFTA renegotiation.
During the interview, McAdoo explained each issue and its impact, and he outlined steps middle-market business owners can take to mitigate the risks created by trade uncertainty.
McAdoo has more than 25 years of experience working at the intersection of business strategy, international geopolitics and public policy. Earlier in his career, he served as a senior member of the Canadian prime minister's staff at the time NAFTA was signed and Canada joined the World Trade Organization. Later, he held a series of senior executive positions with aerospace and transportation manufacturer Bombardier, including managing a production facility in Mexico.
Andrew Fulford, vice president of corporate development for HBM Holdings, spoke with MMG Editor Kathryn Mulligan about HBM's approach to investing in industrial products and services businesses, including the subsectors where the firm is seeing opportunities. He discussed HBM's role helping companies adopt new technology and address the growing skills gap in manufacturing, as well as the role the firm plays in helping companies adopt to policy changes such as the recent steel and aluminum tariffs.
John Oechsle, CEO of Swiftpage, spoke with MMG Editor Kathryn Mulligan about the ways in which artificial intelligence and voice activation are transforming the software industry. He shared how Swiftpage's customer relationship management offering Act is incorporating these technologies. Oechsle also discussed the company's rapid growth through acquisitions.
Trish Gilbert, chief talent officer for private equity firm Wind Point Partners, spoke with MMG Editor Kathryn Mulligan about the increased focus on talent at middle-market private equity firms. Gilbert discussed the characteristics she looks for when evaluating potential leaders, Wind Point’s process for CEO selection, and how the firm builds relationships for the long term.
Jeff Immelt, the former CEO and chairman of GE, spoke with MMG Editor Kathryn Mulligan onsite at ACG’s InterGrowth conference following his keynote address. He reflected on his time at GE and what he thinks the press has gotten wrong about his tenure, and he offered some advice for President Trump on how to handle the trade dispute with China.
Immelt also shared what he sees as the biggest challenge facing U.S. businesses today, how to address the growing skills gap in the United States, and the future of digital innovation.
Mark Yusko, CEO and chief investment officer of Morgan Creek Capital Management, spoke with MMG Editor Kathryn Mulligan about the investment opportunities he sees in blockchain technologies and cryptocurrency. During the conversation, he discussed his firm’s recent acquisition of Full Tilt Capital, the regulatory environment surrounding blockchain and cryptocurrency, and how the world is moving from securities to tokens.
Yusko gave the keynote address at ACG Raleigh Durham’s Capital Conference, themed around the crypto economy, in early April, and spoke with MMG onsite at the event.
Pat Morris joined ACG Global as president and CEO in December. In this episode of the podcast, he spoke with MMG Editor Kathryn Mulligan about his career leading up to ACG, his experience with the association so far, and what’s in store moving forward.
Chris Hebble, a managing director at Houlihan Lokey, spoke with MMG Editor Kathryn Mulligan about raising capital for small and midsize companies, including how long the process typically takes and the time commitment for a middle-market management team. He also offered insight on the impact on borrowing of rising interest rates and tax reform.
Hebble is the chairman of ACG InterGrowth 2018, and he weighed in on the value of networking opportunities at the conference, held this year in San Diego on May 2-4. To learn more, visit www.intergrowth.org.
Joseph Brusuelas, chief economist of RSM, spoke with MMG Editor Kathryn Mulligan by phone on March 19 about the potential impact of tariffs on U.S. middle-market businesses, his recent trip to China, and the results of the latest RSM US Middle Market Business Index.
Andrew Appel, CEO of IRI, spoke with MMG Editor Kathryn Mulligan about how retailers are leveraging data, analytics and social media as they try to become multichannel and more consumer-centric. Appel talked about the changing landscape of retail, and how a company like IRI, which has been around for nearly four decades, continues to innovate and adapt to changing market dynamics.
Dan Sustar, CEO of Trademark Global, spoke with MMG Editor Deborah Cohen by phone about his company's niche in the e-commerce ecosystem. Profiled on the cover of MMG's January/February issue, the Lorain, Ohio-based company sources, warehouses and ships products for some of the biggest names in e-commerce while also developing its own products.
Roger Nanney, vice chairman of Deloitte LLP and Deloitte Private U.S. leader, spoke with MMG Editor Kathryn Mulligan by phone about Deloitte's "Global Perspectives for Private Companies" report, based on a survey of more than 1,800 executives of middle-market companies worldwide.
Amit Bouri, co-founder and CEO of the Global Impact Investing Network, spoke to MMG Editor-in-Chief Deborah Cohen about the increasing interest among investors, including private equity, in achieving positive social and environmental impact alongside a financial return. Bouri and Cohen spoke on Jan. 31 on-site during an impact investing conference that the GIIN helped produce in Chicago.
Jane Rowe, senior managing director and head of private capital for Ontario Teachers’ Pension Plan, one of the pioneers of the Canadian private investing model, talks with MMG Editor-in-Chief Deborah Cohen about the plan’s strategy, including backing private equity funds, plus direct investment alongside GPs and long-term equity holds.
Steven Kaplan, the Neubauer family distinguished service professor of entrepreneurship and finance at the University of Chicago Booth School of Business, speaks with MMG Editor in Chief Deborah Cohen about the Lincoln Middle Market Index, which he developed with investment bank Lincoln International; Booth’s private equity programming; and Kaplan's research, including on how analytics can predict CEO success.
In part two of his Dec. 8 interview, RSM US LLP Chief Economist Joseph Brusuelas talks with MMG Editor in Chief Deborah Cohen about the global implications of tax reform, the outlook for the United States’ free trade agreements, and the books he’s been reading recently.
Denis O'Sullivan, an ACG National Capital board member who provides financial planning services to company founders, has played a key role to shine a spotlight on emerging technology companies in the Washington, D.C., area.
He shares some of the exciting companies featured at the Washington Technology Showcase, the growth of analytics and big data as a focus area for government services firms, and the challenges and opportunities facing private equity firms that try to enter this market.
Joseph Brusuelas, chief economist of RSM US LLP, speaks with MMG Editor Deborah Cohen about his firm’s recent Real Economy report, which looks at how the middle market is performing compared with the wider economy. He also weighs in on the most recent U.S. jobs report, the stock market, tax reform, cryptocurrencies and more.
This is the first half of Brusuelas’ interview, recorded on Dec. 8 and released as a Middle Market Growth Conversations bonus episode. The second half of the conversation will be released in the podcast feed in January.
Dave Neiswander, president of World Bicycle Relief’s U.S. operations, discusses the nonprofit’s mission to deliver bikes to students, health care workers and others in developing countries in Africa, South America and Southeast Asia. Dave also talks about how the organization’s fast-growing for-profit subsidiary, Buffalo Bicycles, is generating revenue and creating jobs across the globe.
Natasha Granholm, a partner with PwC who works with private equity clients, discusses the provisions she's watching as the GOP tax reform bill moves its way through Congress, as well as the technological innovation happening in tax departments across organizations.
Melissa Gonzalez, a retail futurist and founder of The Lion'esque Group, talks about creating transformative experiences for customers with physical pop-up stores, like IRL in Chicago, that integrate online-only brands with in-person shopping. Rather than lamenting the decline of brick-and-mortar stores, Gonzalez points to new opportunities for retailers, consumers and real estate owners alike.
The co-founder and CEO of Grand Rapids, Michigan-based craft brewer Founders Brewing reflects on how the industry has changed since the brand began to take off in 2008, and how the company has been able to maintain its cult following and independent identity while benefitting from outside capital.
Neal Levine of LivWell Enlightened Health on the Cannabis Industry by Middle Market Growth Magazine
Employee stock ownership plans, or ESOPs, make good business sense and could help address middle-market companies' talent challenges, according to Mary Josephs, founder of Chicago-based investment bank Verit Advisors. And while private equity has traditionally been cautious in dealing with ESOPs, that's starting to change.