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As we approach the end of 2016, private equity continues to be a significant driver in middle market M&A. While a number of factors will continue to impose increased operating costs and more competition for deal flow, the industry has largely had a great deal of success in fundraising.
Akin to a white, wild and legendary beast with a mythical horn, a unicorn in the business world is a private company valued at $1 billion or more that lacks a lengthy track record.
Paying the highest price isn´t the key to successful bank acquisitions. The banking landscape is littered with banks that overpaid for acquisitions and subsequently found themselves on the block.
By definition, a trend is a general direction in which something is developing or changing. Prior to the end of 2016, the private equity environment trended cautiously optimistic.
For most business owners, the sale of a business is a once-in-a-lifetime endeavor. Owners should evaluate a sale and how it aligns with their goals and objectives for themselves, their families, companies, and legacies.
Any business owner who has sold a business through a merger, stock sale or asset sale has gone through what I like to call the "death march," wading through the various proposed representations and warranties.
There are four key elements to effectively manage middle market businesses: strategy, talent, alignment, and governance.
The global cost of cybersecurity breaches in the business world is forecasted to exceed $2 trillion by 2019.
The U.S. M&A market has seen an influx of Chinese buyers in the last few years. The resource-rich Chinese state-owned enterprises led the wave.
You've decided to sell your company. You've found the right buyer, the parties are completing due diligence and are negotiating the purchase agreement. It might seem like the perfect time to focus on managing your post-closing risk.
We have witnessed conditions of a seller's market, certainly for high-quality businesses, as the "status quo" for a sustained period.
Contrary to perceptions created by the pace of M&A activity, not all business owners are clamoring for an exit. Across the landscape are high-functioning private companies planning for expansion.
Raising capital for an early stage company can be a daunting task. There is a lot of useful advice and "better" practices but unfortunately no definitive roadmap for success.
Most studies suggest that 70% to 90% of acquisitions fail to generate the investment returns targeted by the acquirer.
2016 will go down as one for the record books. The markets were able to shake off several major geopolitical events this year.
When completing a transaction, hiring experienced advisers is critical. However, qualified advisers come at a price, and professional fees can become a significant component of transaction costs.
Private equity firms are facing increased scrutiny from investors, regulators, and legislators around cybersecurity.
"We want to do some deals to supplement organic growth, but don't know where to start." This is a common refrain we hear from new clients and prospects.
For an acquisition to be considered successful, one would assume the newly combined entity is better off than either of the parts were previously. Simply put, value is enhanced, not destroyed.
Closely held business owners know they someday need a succession plan, but most are focused on day-to-day operations and delay addressing the transition process.
With the continued economic recovery, more businesses are seeking to expand and diversify. All the more, they're making this happen by leveraging a major financing opportunity still at their disposal: the value they have in their assets.
Private equity buyers need to think twice before limiting their due diligence to financials. Numbers can be checked and double-checked, but they can be unreliable and misleading if they aren't evaluated in the right market context.
Tax insurance is one of a suite of risk-transfer insurance products - along with Representations and Warranties insurance and others - that are aimed at addressing deal risks.
When owners contemplate a business sale, many envision selling their entire interest to a third party. This traditional type of sale, however, may not always be possible or in the owner's best interest.
In its early years, private equity was largely practiced only in the United States.
Companies are increasingly using open source software in their businesses, and for some companies, this type of software is critical to their business models. Buyers should be mindful of the unique challenges this software poses in M&A transactions, particularly in terms of a target company's valuation.
What a year to call Cleveland our home. The Republican National Convention, a redeveloped Public Square, a UFC heavyweight champion, the Calder Cup, an NBA championship and World Series baseball.