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ACG CHARLOTTE:
Service Economy

The chapter is hoping to rope in veteran dealmakers, improve programming and book high-profile speakers

ACG Charlotte might be looking to revamp, says chapter president Steve Menaker.

The chapter's membership, in stark contrast to its ACG counterparts in other cities, is largely a young demographic, says Menaker. Of the 405 members, ACG Charlotte is made up mostly of service members.

The chapter doesn't attract many high-ranking private equity and M&A executives, and is looking into ways to attract the veteran dealmakers doing business throughout North Carolina's largest city.

ACG Charlotte's current members have high event attendance, and the chapter is evaluating ways to add value to its members and is considering some changes in its programming, including bringing in more high profile speakers, Menaker says. So far, the chapter is off to a decent start.

Over the past two years, ACG Charlotte started hosting more panel events, as well as panels that focus exclusively on mezzanine lending and fund raising.

The chapter brought in Dan DiMicco, chairman and chief executive of Nucor Corp., as a speaker. At a March 2012 event, he spoke about how Nucor survived the 2008 recession without widespread layoffs and increased its net profit by six times in 2011, compared with 2010.

ACG Charlotte also had a January 2012 event where Ed McMahan, partner at Falfurrias Capital, the private equity firm that sold off Bojangles Restaurants Inc., a southern fast food chain, and Randy Kibler, president and chief executive of Bojangles, spoke to members about the transaction.

Currently, plenty of sectors have maintained a stay in and around the city for its local ACG chapter to capitalize on pulling in new members. There is a significant manufacturing presence, as well as healthcare and distribution industries growing throughout Charlotte, Menaker says. Energy companies have also set up shop in Charlotte, including Duke Energy Corp. (NYSE: DUK), the Shaw Group and Areva (EPA: AREVA).

The chapter doesn't have a capital connection event, so its wine tasting is its culminating program, with about 225 attendees, Menaker says. Sponsoring private equity firms set up tables and members spend the night wining and dining.

"No question, it's the most popular event," Menaker says.

 


 

Fact File:

ACG.org/Charlotte

Year Founded: 1990

Number of Members: 405

Annual Dues: $175 Young Professionals, Approved Corporate members; $350 Service and other members

Approval Required for Membership: No

President: Steve Menaker, assurance partner, McGladrey LLP

ACG Charlotte, a chapter made up primarily of service members, is considering altering its programming, which focuses on current transaction topics and local market issues, to add more high-profile speakers in an attempt to attract more high-ranking private equity and M&A advisory executives.