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Wednesday, May 27th, 2015
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Submit Q2 Closed Deals

ACG Philadelphia members with closed Q2 2015 deals should reply to the survey by Monday July 13. You can re-enter the survey to make updates.

DealWire Q2 Survey Link

Note: only deals LED BY YOUR LOCAL OFFICE and CLOSED DURING April 1 - June 30, 2015 are eligible for submission.

Members on the Move - we'll include announcements relevant to the deal community such as new hires or promotions within your M&A group.
 

Welcome New Q1 ACG Philadelphia Members  

 

Eric Abel
U.S. Trust

Rich Altus
Lee Equity

Daniel Bernstein
Balance Point Capital Partners

Jonathan Carletti
TD Bank

Chad Elliott
O'Neill Properties Group/ Recovery Centers of Amer.

Peter Jakuc
AmeriHealth Caritas

Jason Jerista
LLR Partners

Kevin Krisowaty
Wells Fargo

Joe Lally
RR Donnelley

Timothy Levy
Duane Morris LLP

David Lincoln
Element Partners

Mairi Luce
Duane Morris LLP

Neel Makhija
SJI

Patrick Malarkey
CertainTeed

Michael Markus
HGE, Inc.

Robert Mindick
TD Bank, N.A.

Matt Plevelich
NewSpring Capital

Mike Rowbotham
AmeriQuest Business Services

Richard Schreiber
Versa Capital Management

Luke Snyder
CBIZ MHM, LLC

Maulin Vidwans
White and Williams LLP

Andrew Wilson
Janney Montgomery Scott

Edward Wilusz
Value Management Inc.

About DealWire
ACG Philadelphia's quarterly M&A report, captures deal and transactional activities from around the region based on ACG Philadelphia members' and other dealmakers (investment bankers, private equity professionals, professional service firms and corporate executives).

Click here for Historical Featured Deal Summaries

Questions about DealWire Philadelphia should be directed to Jen Simons at jsimons@acg.org.
 
 
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Q1 2015 DealWire




First Quarter Trends Indicate a Robust 2015 M&A Market
Commentary by Kara Donnelly, NewSpring Capital (ACG Marketing Committee Member)


Economic Environment Favors both the Buyer and Seller


The opening quarter of 2015 suggests confidence continues to remain high among investors, business owners, executives and Board members. Capitalizing on the strength of the current market, overall transaction volume increased 10% in the first quarter of 2015 relative to the first quarter of 2014.
 

               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

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

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

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

Boathouse Capital
Boathouse Capital (Bill Dyer, Steve Gord, Ken Jones, Chong Moua, Andrew Olsen, Shivam Patel and Colin Raws members) completed 4 transactions in Q1. The firm also promoted 2 employees to vice president. Read more
Capital One Bank

Capital One Bank (Tom Savage member) added a new Philadelphia market executive for its commercial banking division in Q1. Read more

Cozen O'Connor

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

Drinker Biddle & Reath
Drinker Biddle & Reath (Elizabeth Babson, Joshua Bernstein, Stephen Burdumy, William Clark, David Denious, Neil Haimm, Laura Householder, Daniel Krane, Matthew Meyers, Lauren Platko, Douglas Raymond, John Talbot and Ron Tanner members) represented its clients on 18 closed transactions in Q1 and elected a new partner. Read more
Duane Morris LLP
Duane Morris LLP (Peter Byrne, Heather Carmody, Maria Rose Granholm, Richard Jaffe, Timothy Levy, Mairi Luce, Darrick Mix, Kathleen Shay, Thomas Spencer, Barry Steinman and David Toner members) counseled its clients on 9 closed transactions in Q1.  The firm also added 4 new attorneys. Read more
Eureka Growth Capital

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

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

Fox Rothschild LLP (Terrence Kerwin and Sandra Romaszewski members) advised its clients on three completed transactions in Q1. Read more

Graham Partners
Graham Partners (Matthew Arden, Joseph May, Clemente Micara-Sartori, Robert Newbold, Andrew Snyder, Liz Weiner and Joshua Wilson members) closed three transactions in Q1. Read more
Griffin Financial Group, LLC
Griffin Financial Group, LLC (John Lee member) served as investment banker on 8 completed transactions in Q1. Read more
Janney Montgomery Scott LLC

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

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

Morgan, Lewis & Bockius LLP
Morgan, Lewis & Bockius LLP (Justin Benford, Tracy Dowling, David Gerson, Barbara Shander, Kevin Shmelzer and Lindsay Tarnowski members) served its clients on 14 closed transactions in Q1. Read more
Mufson Howe Hunter & Company

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

NewSpring Capital
NewSpring Capital (James Ashton, Michael DiPiano, Kara Donnelly, Steven Hobman, Skip Maner, Brian Murphy, Andrew Panzo, Matt Plevelich, Anne Vazquez and Adam Veverka members) completed three transactions in Q1. Read more
Pine Hill Group
Pine Hill Group (Jerry Buckley, Michael Estadt, Chuck Jacobson, Stephen Nardi, Keith Ruck and Barry Smith members) provided due diligence services to its clients on five closed transactions in Q1.  Read more
Pine Hill Valuation Services
Pine Hill Valuation Services (Sean O'Reilly member) provided services to its clients on seven closed transactions in Q1. Read more
RLS Associates
RLS Associates (David Bernstein and John Ralston members) served as investment banker on two closed transactions in Q1. Read more
SSG Capital Advisors, LLC
SSG Capital Advisors, LLC (Mark Chesen, Michael Goodman, Michael Gorman, Matthew Karlson, Terry Kohler and J. Scott Victor members) acted as investment banker on three completed transactions in Q1. Read more
Stifel
Stifel (Lauren Harrington, John Honovich, Robert Kent, David Lazar and Bharat Ramprasad members) served as investment banker on three closed deals in Q1. Read more
Stradley Ronon Stevens & Young, LLP
Stradley Ronon Stevens & Young, LLP (Michael Bonner, Christopher Rosenbleeth and Todd Vanett members) counseled its clients on 4 completed transactions in Q1.  Read more
Teleflex Incorporated

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

The Bridlebrook Group
The Bridlebrook Group (William Doyle member) provided M&A advisory on one completed transaction in Q1. Read more
White and Williams LLP
White and Williams LLP (George Hartnett, Michael Mentzel, Ryan Udell and Maulin Vidwans members) served as legal counsel for its clients on two closed transactions in Q1. Read more
  
 

For a listing of all historical featured deals please go to the LIBRARY tab.

Showcasing ACG Member Deals


3 ACG Member Firms Close Q1 Deal
Interview by Anne Madonia, Cozen O’Connor (ACG Marketing Committee Member)

 




 


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

Deal Synopsis

On February 3, 2015, Boathouse Capital completed an investment in SolomonEdwardsGroup, LLC, to provide the company with additional capital for growth following their recent acquisition of M Squared Consulting.

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.

Teams
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

 

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