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Corporate Dealmakers
If you’re shopping a healthcare company and want to find a few private equity professionals or investment bankers who focus on this area, it won’t take long to get started. Type in the right phrases on a search engine like Google, or search a news-rich site like www.mergersunleashed.com, and within seconds you’re looking at relevant results.
But try figuring out who focuses on M&A at a specific corporation, and not surprisingly the task is much more daunting. True, at large companies like Cisco and Microsoft, there are specific people who head acquisition efforts and have titles to reflect it. These people typically advertise their contact details and often speak at industry events. But for the majority of companies in the middle market, ‘acquisition seekers’ are much more elusive. Sometimes the best contact is the VP of business development, other times it’s a C-suite executive.
Strategic acquirors have always been important within the M&A market, but with financing terms still putting a lid on sponsor-backed deals, the value of corporate M&A pros—to advisors, lenders, and every service provider in the M&A world—is arguably higher than ever.
For the scores of firms targeting these contacts, the best option has been to access lists of corporate contacts through events, through publications like M&A Magazine and IDD Magazine, and through associations like ACG. The trick, in the spirit of knowing your customer, is to keep a few important things in mind:
The point is, since the corporate dealmaker market is loosely defined and presents some case-by-case obstacles, targeting your message is paramount—especially at a time when strategics are driving the deal market.
Adam Reinebach 
The Leading Authority on Corporate Growth.
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DEALSAngelo Gordon Buys in Sale-LeasebackPrivately held investment advisor’s play to help KIK Custom Products beat back debt is represents a growing trend. H.I.G. Capital Sells Stream Holdings For $200MH.I.G. Capital has sold Stream Holdings Corp. to Global BPO Services Corp. (now known as Stream Global Services, Inc.),for $200 million in cash plus adjustments. Stream is a global provider of technical support and other business process outsourcing services. Stream provides integrated business process outsourcing services for many of the world’s technology, computing, communications, software, consumer electronic and media clients. H.I.G.’s platform investment was made in 2003 through its acquisition of a $75 million call center division of Software Spectrum, and later acquired Stream from Solectron in 2004, forming Stream Holdings. Nordic Capital and Avista Capital Partners Complete ConvaTec AcquisitionNordic Capital and Avista Capital Partners have completed the acquisition of ConvaTec from Bristol-Myers Squibb Co.. ConvaTec develops and markets wound therapeutics, critical care and ostomy care products. As previously announced, Nordic Capital and Avista Capital Partners plan to integrate Unomedical, a manufacturer of single-use medical devices based in Copenhagen, into the ConvaTec business within the next few months.
Please contact Naz Bayazit to inquire about advertising opportunities with this e-newsletter. Naz.Bayazit@sourcemedia.com.
FIRMSHancock Fabric Gets $100m from GE Corporate LendingHancock, based in Baldwyn, Miss., filed for bankruptcy in March 2007. Evergreen Pacific Partners Closes $425M Buyout FundEvergreen Pacific Partners has closed its second fund with $425 million. Evergreen Pacific Partners invests in traditional buyouts, management led buyouts, and growth equity investments involving traditional industry, middle-market companies in the Western U.S. and Canada. LLR Closes Third FundLLR has closed its third fund, LLR Equity Partners III, with $800 million in committed capital. The firm exceeded the fund’s initial goal of $600 million. The firm’s existing investors contributed over $500 million of the $800 million raised. The fund’s predecessors, LLR Equity Partners I and LLR Equity Partners, respectively raised $260 million in 1999 and $360 and 2004. The firm has about $1.4 billion under management. Emerging-Market PE Funds Growing SharplyInstitutional investor appetite for emerging-market private equity funds, especially limited partnerships targeting Asia, shows no signs of slowing, according to data from the Emerging Markets Private Equity Association. There were 104 emerging market private investment funds, accounting for $35 billion, raised in the first half of 2008. The new funds marked a 68% increase from emerging market-oriented fund closing for the same period in 2007, according to a report announced by the EMPEA. Asia-focused funds secured $26.3 billion in commitments or more than double the $11.6 billion raised by emerging Asian funds in the first half of 2007. Out of this amount, investment vehicles geared towards China funds garnered $11.2 billion through June 2008 and India-centric funds grabbed $3 billion, which represented a 357% increase from the same period last year. The EMPEA, a Washington-based industry trade association with more than 230 members representing more than 40 countries, reported that the average size of emerging market funds jumped 72% from $197 million in the first half of last year to $339 million in the first half of 2008. PEOPLEGolub Appoints Senior MDsGregory Cashman and Andrew Steuerman will run the sponsor finance business and make new investments for the firm. Resilience Expands TeamResilience Capital Partners hired Michael Lundin and Michael Merriman as operating partners of the turnaround private equity firm. Lundin is a former president and chief executive officer of Oglebay Norton Co. and Merriman is a former CEO of Lamson & Sessions. Merriman was CEO of Lamson & Sessions until its sale to Thomas and Betts last year. SL Capital Partners Strengthens US Private Equity TeamSL Capital Partners has appointed Jamie Ebersole to senior investment director, North America. Jamie will be based in SLCP's Boston office, prior to joining SL Capital Partners; Jamie spent eight years at Allianz in a number of roles, the last of which was Managing Director, Allianz Private Equity Partners. Rattner Retires As DLJ ChairmanSteven Rattner, chairman of DLJ Merchant Banking Partners, retired on Wednesday, after a 20-year-long career at the bank. DLJ, which was formerly known as Donaldson Lufkin & Jenrette, is the private equity investment affiliate of Credit Suisse Group AG. In March 2005, Rattner was named chariman of DLJ Merchant Banking Partners. Following the news of his departure, a Credit Suisse spokeswoman told MergersUnleashed on Thursday that Rattner had decided “to spend more time with his family” and declined to comment further on the timing of his exit. Nicole Arnaboldi will succeed Rattner as chairperson. She joined DLJ in 1985 as an associate, later becoming a managing director in the firm’s merchant banking team. Following the November 2000 merger of Donaldson, Lufkin & Jenrette and Credit Suisse First Boston, Arnaboldi became a managing director at Credit Suisse First Boston. She will remain co-head of Credit Suisse's illiquid-alternatives business. Rob Shafir, chief executive officer of Credit Suisse's asset management division, said, “Having been with DLJ in private equity for over 20 years, Nicole is well positioned to oversee the continued success and growth of this important middle market business and continue to provide excellent results for our investors." Arnaboldi received her bachelor's degree, master's degree in business administration and law degree from Harvard University. In November 2007, DLJ announced plans to acquire Deffenbaugh Industries, a waste services company based in Shawnee, Kansas. Schwartz To Exit JPMorganAlan Schwartz, the former chief executive of Bear Stearns, will not remain at JPMorgan Chase. He “will be moving on from the firm at the end of August to pursue other interests,” an internal memo from JPMorgan Chase chief Jamie Dimon stated. JPMorgan did not return calls seeking comment. Schwartz became CEO at Bear Stearns in January, succeeding James E. Cayne, who left the amidst concerns of the firm’s mounting liquidity problems. Previously, Schwartz was co-president of Bear, a position that he held since 1991. Bear Stearns was acquired by JPMorgan Chase in a bailout plan facilitated by the Federal Reserve and Treasury Department in March. | |||||||||||
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