People Moves of the Week:

Cook M&A, Houlihan Lokey, Piper Jaffray
Cook M&A names Michael Olson vice president; Houlihan Lokey hires transaction advisory head; Piper Jaffray acquires energy investment bank

Private Equity

The Rise of the Operating Partner
Baird Capital’s Roberto Ferranti, Riverside’s Jeff Goodman, Excellere’s John Lanier, Northstar Aerospace’s David McConnaughey and Graham’s Dan Soroka (pictured) help portfolio companies improve processes and trim costs

Emerging Markets

As China’s Economy Falters, Southeast Asia Attracts Dealmakers
Inexpensive manufacturing and increased consumerism make Indonesia, Malaysia, Singapore, Thailand and Vietnam appealing to private equity firms and strategic buyers from all over the world

Digital Edition


Fund of Funds, Lender

ESOP, Recapitalization

Agriculture, Natural Resources

New York, Hong Kong

Northeast US, Asia/Pacific

United States, Canada


People Database

Exclusive data on top players in capital markets

Elizabeth A. Jaworski

Director, Legal Operations

Firm: Motorola Mobility LLC

In the news: How Legal Operations Can Help You Become More Effective and Run Your Department



Private Equity Perspective

Lenders Look for Reoccurring Revenue Businesses [ma_kulakofsky_580.jpg]

Most technology companies are marketed as reoccurring revenue businesses, which is enticing to lenders, says David Kulakofsky of Madison Capital Funding. He adds that leverage multiples have increased in the last 12 to 18 months and should remain steady.

Tech Companies Attractive Buy Today [ma_bhatia_580.jpg]

The growth characteristics of technology deals are often better than other industries. Tech companies often have cyclical growth trends that are independent of cycles making them attractive today, says Iveshu Bhatia of Audax Group.

Long-Term Revenue Contracts Helps During Economic Cycles [ma_blasco_580.jpg]

Investors are looking at new opportunities with the idea that there will be a high likely hood of some form of economic downturn during their hold time, says Ian Blasco of Riverside Partners. With this in mind, the companies attracting the more interest are companies that are resilient to economic pressure with long-term contracted revenue streams.

Challenging Time to Get Deals Done [ma_white_580.jpg]

After several quarters of record fundraising by private equity firms, the low interest rate environment and the significant amount of debt capital, it has become challenging to get deals done at reasonable valuations, says Sean White of Spire Capital Partners.

Increasing the Certainty of Close [CR_Cohen_580.jpg]

Series: Private Equities Perspectives

An unsophisticated or poorly advised seller is one obstacle that can cause a deal not to close. In this video, Claudine Cohen, Principal at CohnReznick, addresses some of the pitfalls that can hold up a deal. She also provides practical advice on what private equity firms can do to increase the certainty of close. View Now.

Identifying Regulatory Vulnerabilities in Private Equity [CR_LEVY_AROH_580.jpg]

Series: Private Equities Perspectives

Limited Partnership agreements are often too broad with regard to fees and expenses, and that makes them likely to attract attention from regulators. Watch as industry experts Chris Aroh and Jay Levy of CohnReznick answer key questions including: What should a limited partnership agreement contain? Why is a valuation policy important? And what can PE funds do to become more compliant?

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The Buyside

Agriculture Acquirers Feed on Crop Protection

Technology advances and customer demand are driving deals, such as the recent Land O’Lakes merger with United Suppliers

Solar Energy Shops Warm Up To Mid-Market M&A

An uptick in deals, including Gibraltar's acquisitions of RBI Solar and Rough Brothers Manufacturing, stems from the anxiety over the ratcheting down of the federal solar investment tax credit

E-Training Services Entice Bidders

On the heels of Lynda.com’s recent deal with LinkedIn, Riverside picks up Health & Safety Institute

The Buyside: Buyers Wake Up to Anesthesiology

Feeling pressure from Aetna and Blue Cross Blue Shield, small anesthesiology practices are welcoming Mednax, TeamHealth and AmSurg as suitors

The Buyside:
Mid-Market May Be Prone to Proxy Battles

Encouraged by Starboard’s influence on Staples to take over Office Depot, activist investors will focus increasingly on middle-market companies

The Buyside: Deal Pros Shape Up with Fitness Plays

Recent buyers focused on fitness and the outdoors include Bass Pro Group LLC, Finish Line Inc. and Kent International Inc.

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Finance Finesse

Are Senior-Secured Loan JVs the Next Big Thing?

CIT and Ares have recently formed joint ventures, as larger hold sizes help bring home deals

Unitranche Loans Charm PE Firms

The loan structure has staying power and is expected to remain popular if and when interest rates rise

Mid-Market Loans Lure Investors

Capitala Finance, Mosiac Capital Partners and Fifth Street Senior Floating Rate line up for middle-market loans

Frothy Leverage Markets Move Multiples

“Multiples have moved into double-digit territory because of the emergence of the non-bank lending ecosystem,” says Rich Lawson, HGGC CEO

Hold Size Matters in Frothy M&A Market

Buyers want to close quickly, says David Brackett, CEO of GE Antares, which was just sold to Canada Pension Plan

Finance Finesse: Turnaround Pros Focus on Education

Many schools borrowed to expand and now lack the funds to pay their debts, explains Carl Marks partner Joe D'Angelo

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