ACG Philadelphia's Featured Member Spotlight is designed to help foster new, meaningful connections by generating greater understanding of our members, their roles, and their needs. On a monthly basis we will recognize dealmakers across functions and career stages. Reach out via email or find them on LinkedIn.
Patty Graver, Partner, Co-Founder
Third Arch Investments
Tell us about your role / firm. Third Arch Investments is a Philadelphia-based investment firm making long-term investments in high quality small businesses. We cater to owner-operators who feel under-served by their available investor universe, whether considering a full buyout, a structured exit, or bringing on a partner to help drive growth. We are “on-the-ground” investors focused on preserving and building upon the businesses’ existing legacy. I am a Co-Founder and Partner of Third Arch.
What are you looking for? We look for long-standing businesses with defensible value propositions in the greater Philadelphia region (selective screening for the broader Mid-Atlantic). A typical target has revenue of $20-60M and EBITDA of $2-6M. We avoid commoditized businesses but source broadly across niche manufacturing, value-add distribution, consumer products, and certain types of business services.
What's on your mind? Having launched our firm on the heels of the pandemic, it has been great to start connecting with local business owners and the Philadelphia deal community in person. If we have not crossed paths yet, please reach out. I would welcome the opportunity to meet you.
Yogi Kantharia, Vice President – Middle Market Lending
ACG Philadelphia Marketing Committee
Tell us about your role / firm. I am with the Middle Market Commercial Banking team responsible for the origination and management of Middle Market relationships. WSFS Bank, is the oldest and largest locally managed bank and trust company headquartered in Delaware and the Greater Philadelphia region. As of March 31, 2021, WSFS Financial Corporation had $14.7 billion in assets on its balance sheet and $24.7 billion in assets under management and administration. WSFS provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management.
What are you looking for? We cover businesses with revenue size between $20MM-$200MM primarily in the Mid-Atlantic region. Our team provides financing to companies and/or sponsors within a 2-hour radius of WSFS Headquarters. Our focus is on providing senior financing to the lower end of the Middle Market (typically $2MM - $10MM EBITDA). We are a relationship-oriented bank rather than a transaction centric bank with appetite for both asset-based and cash flow structures (cash ﬂow leverage ≤4.0x).
What's on your mind? A definitive merger agreement whereby Bryn Mawr Bank Corporation (“Bryn Mawr”) will merge with WSFS Financial Corporation (“WSFS”) was announced on 3/10/2021. With nearly $20 billion in assets and an approximately $43 billion Wealth Management business as of December 31, 2020, WSFS believes that following the merger it will be the only bank in the region with distinct market-share advantages, including market knowledge, local decision-making, a full-service product suite and a balance sheet to compete with larger regional and national banks.
Tell us about your role / firm. I am a partner at Wipfli and Co-Leader of the PE industry practice and have over 30 years of experience servicing PE (both fund level and portfolio company level). Our Private Equity Services Group includes our accounting, tax and transaction advisory teams as well as WCF Advisors. We are all a cohesive unit. Wipfli is a top 20 accounting and consulting firm in the United States with over 2,600 associates in 50 offices.
What are you working on? The deal environment is extremely active right now, so we are currently working on a number of QOE engagements as well as post transactional A&A/Tax engagements at the portfolio company level. We are committed to serving our clients through a client-focused and relationship-driven approach and our focus is to build those relationships in the lower middle market.
What's on your mind? I believe that getting together with my clients and contacts throughout the year allows me to maintain and nurture the relationship to foster better depth and flow of communication, so I am hoping the Covid environment that prevented face to face meetings is behind us. I am also curious to see how sellers and buyers will continue to react to the resumed deal activity.
Tell us about your role / firm: AMETEK is a global, multi-industry company based in Berwyn. AMETEK has been publicly listed on the NYSE since 1930 and is a component of the S&P 500 with 2020 sales of $4.5 billion. My role as a Director, Corporate Development at AMETEK is a traditional one encompassing the entire M&A life cycle. The breadth of our businesses creates opportunities to assess a very diverse set of acquisition targets and meet some very talented engineers and business leaders.
What are you working on? AMETEK is a serial acquirer, and we are always searching for attractive acquisitions. So far in 2021, we have deployed $1.85 billion on five acquisitions and we continue to work on our strong pipeline of deals. The ideal target is a technically differentiated business, a market leader in their niche space, and run by a strong management team. We look for both new platforms and bolt-on targets.
What's on your mind? It will be interesting to see which changes in transactions brought on by the pandemic become normalized as we continue to reopen. What will be the new “normal” and what opportunities will it create?
Katie Wilusz Long, ASA, CFA, Manager
Value Management Inc.
ACG Philadelphia Young Dealmakers Committee Chair
Tell us about your role / firm: I am a manager at Value Management Inc. (VMI). Value Management Inc. was founded as a business valuation firm thirty years ago. We have since added investment banking services where we represent lower to middle market companies on the sell side in transactions. Whether providing a business valuation or aiding in a transaction, we focus on providing our clients with a smooth, seamless process that is transparent. While we are industry agnostic, many of our clients are family businesses and since VMI is a family business (founded by my father, Ed Wilusz), we have the unique benefit of relating to our clients on multiple levels.
What are you working on? I am currently involved in a number of ESOP (employee stock ownership plan) transactions, as well as several sell side deals. In anticipating the ‘silver tsunami’, we strive to educate selling shareholders about various options, and assist in a successful sale, be it to a strategic buyer, private equity, or employees. We are currently looking for add-on buyers for a communications/in-house marketing company (based in U.S. with a European subsidiary) as well as for a composites manufacturer (U.S based, products sold internationally).
What are your business challenges? Our current business challenge, like many of our clients, is finding and hiring experienced employees. Many of our clients are having difficulty finding staff to grow; usually we hear the opposite problem (finding work to keep staff busy). We are currently hiring to support our growth as well. Other than that, it’s an exciting time to work in M&A, with a strong market, inexpensive lending, and lots of potential buyers and sellers.