8 minute read Middle-market M&A has traditionally been dominated by two main players: the strategic buyer and the financial buyer, typically a private equity group. In recent years however, the financial buyer landscape has evolved with two new players emerging: the family office and the independent sponsor. Private Equity Recap If you happen to live...
I was approached by a private equity group interested in purchasing my company. The partner said they’d looked at 48 companies in my market sector, and this was the first one they liked. They made a non-binding offer that I was happy with, and began due diligence. Ninety days later, they walked away from the...
It takes more than luck to sell your company for a premium price. You have to work on these four areas to generate buyer interest. Seneca, a first-century Roman philosopher once observed, “Luck is where the crossroads of opportunity and preparation meet.” Some business owners believe they’ll be able to “get lucky” and sell...
Since 1998, M&A Advisor has been connecting M&A, turnaround and finance professionals through thought leadership, facilitating connections and honoring the achievements of top deal making professionals. On November 17, the organization will be recognizing the top individuals, deals and firms for 2014 at its 14th annual M&A Advisor Awards in New York City. Allegiance Capital...
The bottom line is that your company is worth what a specific buyer in the open market is willing to pay for it. TruckingInfo.com – July 2013WebXclusive By Roger Whittaker, Allegiance Capital Corp. Business valuations are often mythical, based upon hearsay or rumors of the most recent sale in the industry. To learn more about...
While mingling at a colleague’s company barbecue the other day, a new acquaintance asked the simple question, “So, Bob, what do you do in investment banking?” “Research,” I answered, soon realizing from all the blank stares I was getting that nobody had any idea what I really do on a day-to-day basis. If most people...
What does an entrepreneur do after he sells? First, selling a business is not necessarily what an entrepreneur thinks it is. Sellers are often associated with the company and materially benefit as part of a re-invigorated management team. Generally you can group the outcomes into three groups, but it is actually a spectrum where a...
A friend asked me to sell his company for him. It was a solid company with some good niche products in an M&A market much like today. He said “I won’t take less than $14 million” because that is the value based on what his country club, golfing buddy sold his company for. As a...
Recently Steve Jobs, one of the most iconic figures in American business, announced his resignation as CEO of Apple. Although it had been widely anticipated due to health issues, it still sent shock waves through the markets. However, after the initial impact was absorbed, Apple’s stock did not tumble as had been feared. Jobs has...
Our friends Scott and Susan decided a year ago to sell their very spacious home. The kids had all left, and upkeep was getting to be a burden. Once they made this decision, they started fixing things that hadn’t seemed like a big deal- replacing a leaky faucet, tightening a loose door knob, and so...
Selling your business can be painful; it takes a lot of hard work. It’s a challenging and time-consuming process, equally rife with opportunity as well as pitfalls. When you consider that you’re embarking on a long courtship process, searching out compatible partners and negotiating mutually beneficial arrangements, it’s not unlike searching for that perfect woman...
Allegiance Capital is the eighth company David Mahmood built. As an entrepreneur and an investment banker, I’ve learned from my own mistakes and the mistakes I’ve watched others make. Beware of these pitfalls: 1. Putting off the exit planning exercise I can’t tell you how many times Allegiance Capital has been brought in to help...