Welcome New Q1 ACG Philadelphia Members
Balance Point Capital Partners
O'Neill Properties Group/ Recovery Centers of Amer.
Duane Morris LLP
Duane Morris LLP
TD Bank, N.A.
AmeriQuest Business Services
Versa Capital Management
CBIZ MHM, LLC
White and Williams LLP
Janney Montgomery Scott
Value Management Inc.
First Quarter Trends Indicate a Robust 2015 M&A Market
Commentary by Kara Donnelly, NewSpring Capital (ACG Marketing Committee Member)
Source: S&P Capital IQ
For the Complete Q1 2015 Report including Regional Deal Activity and Industry Sector Analysis... Read more
ACG Philadelphia Quarterly Member Deals
Baker Tilly Capital, LLC (Jason Cunningham, Michael Demers, Steve Economou, Ryan Hurst and Kevin Rudd members) served as investment banker on one completed transaction in Q1. Read more
Ballard Spahr LLP (Craig Circosta, Brian Doerner, Anuj Goswami, Amit Kakkar, Robert Krauss, Steven Miller and Matt Potalivo members) counseled its clients on 9 completed transactions in Q1. Read more
Blank Rome LLP (Molly Crane, Steven Dubow, Andrew Hennessy, Mathew Rotenberg and Alex Tablin-Wolf members) provided legal advisory to its clients on four closed transactions in Q1. Read more
Capital One Bank (Tom Savage member) added a new Philadelphia market executive for its commercial banking division in Q1. Read more
Cozen O'Connor (Sandra Bloch, Larry Laubach, Anne Madonia and Michael Zanan members) served as legal counsel on 4 completed transactions in Q1. The firm also promoted 2 attorneys to member in their corporate department and hired a new member for their corporate securities practice. Read more
Eureka Growth Capital (Thomas Calibeo, Jonathan Chou, T. J. Haas, Christopher Hanssens, Christian Miller, Lisa Harris Millhauser, Tassie Oswald and Brendan Stancato members) hired two new employees in Q1. Read more
Fairmount Partners (Charles Eckert, Bill Frame and Richard Wainwright members) provided investment banking services on 2 closed transactions in Q1. Read more
Fox Rothschild LLP (Terrence Kerwin and Sandra Romaszewski members) advised its clients on three completed transactions in Q1. Read more
Janney Montgomery Scott LLC (Joseph Culley, Jonathan Ketzner, Benjamin McKean, James McNaughton, Joseph Reichert, Brendan Tierney, Brian Van Der Waag and Andrew Wilson members) provided investment banking services to its clients on 11 closed transactions in Q1. The firm also promoted 4 investment bankers. Read more
LLR Partners (Kevin Becker, Christian Bullitt, Kristy DelMuto, Mitchell Hollin, Jason Jerista, Chris Mahatma, Zachary Sigal and David Steines members) closed 4 transactions in Q1. Read more
Mufson Howe Hunter & Company (Peter Hill, Dave Hoskins, James Hunter, Michael Mufson and Judit Nagy-Eichelberger members) closed three transactions in Q1. The firm promoted one. Read more
Teleflex Incorporated (Jan Monster, Jake Olin, Michael Probst and Dwayne Ritchie members) completed two acquisitions in Q1. The firm also is announcing a promotion and a new corporate development professional. Read more
For a listing of all historical featured deals please go to the LIBRARY tab.
Showcasing ACG Member Deals
Based on discussions with Chong Moua, Partner at Boathouse Capital, Michael J. Mufson, Managing Partner at Mufson Howe Hunter, and Veronica McKee, Senior Vice President, Marketing at SolomonEdwards
SolomonEdwards, based in Wayne, PA, is a privately held professional services firm focused on strategy execution, helping clients to define, manage and drive projects. SolomonEdwards solves issues related to business transformation, mergers and acquisitions, accounting and finance, and governance and regulatory compliance. Clients range from emerging growth companies, to Fortune 500 corporations, to government agencies.
Boathouse Capital is a Philadelphia-based private equity firm that manages over $350 million in two separate funds. Boathouse Capital invests $5 million to $25 million of mezzanine debt and equity into lower middle market businesses across the U.S. that generates $1.5 million or more of EBITDA.
Membership has its privileges
Boathouse Capital’s investment in SolomonEdwards reinforces the importance of relationships in the deal business. In this instance, relationships built through the ACG network resulted in the deal coming together quickly and smoothly. SolomonEdwards began the process in late October 2014, and was able to close with Boathouse Capital in roughly 3 months.
SolomonEdwards was expanding rapidly, both domestically and internationally, after the acquisition of M Squared Consulting and needed growth capital to support continued success. They elected to raise mezzanine capital and sought a growth oriented private equity firm that could offer the right expertise, capital and certainty to close.
Not surprisingly, in today’s frothy market it was a competitive auction process, with more than a dozen private equity and mezz debt firms participating in the process.
Boathouse Capital had a particular interest in the investment opportunity, having knowledge of SolomonEdwards’ presence in the region, and Edward Baumstein’s solid reputation. Boathouse Capital was also able to quickly get comfortable with the industry given their experience. Together, this made due diligence a smoother, quicker process resulting in fewer issues for Boathouse Capital, which resulted in an investment in SolomonEdwards.
Boathouse Capital was able to differentiate itself by showing a willingness to be flexible, and agreeing to mezzanine growth capital that would allow the Company to accelerate its growth. As with any deal, there were challenges, but SolomonEdwards was able to demonstrate its potential to reach its projections by providing enough data points to show a trend towards meeting its forecast. Boathouse Capital understood the risks, and was able to take a more aggressive credit analysis of the investment, not just an investor but as a partner.
Mufson Howe Hunter was brought in early, given its extensive history with SolomonEdwards. Mufson has worked with SolomonEdwards and its CEO for over 20 years, having closed multiple deals together in the past. The Mufson team was led by Michael J. Mufson, an investment banker to middle market companies for almost 30 years.
The parties acknowledge ACG’s role in providing opportunities for the Boathouse Capital team to get to know SolomonEdwards’ CEO and its management team over the years. Having this familiarity, allowed Boathouse Capital to not only rely on SolomonEdwards’ past successes, but to have confidence in the company’s future success.
Boathouse Capital: Chong Moua*, Ken Jones*
Mufson Howe Hunter: Michael Mufson*
Other ACG Philadelphia Member Firms'
Stevens & Lee: Steve Tyminski*
McGladrey (formerly Fesnak): Bill Mahoney
*ACG Philadelphia Members