As a native New Yorker, I’ve seen a lot of people flee to Florida over the last two years. As a M&A editor, my curiosity piqued of what that means for investments. I found out a lot of interesting things. PE firms such as Levine Leichtman Capital Partners, Thoma Bravo and GTCR are all taking shine to the state.
“Establishing an office in Miami has not only expanded and enhanced our presence in the U.S., but also provided a gateway to other national and global markets to help support Thoma Bravo’s overall growth,” says Chip Virnig, a partner at Thoma Bravo told me. In 2021, Thoma Bravo opened an office in Miami citing the region’s growing tech sector. “Miami is a vibrant and growing tech and financial hub that’s welcoming and fostering innovative thinking.”
“There are a lot of technology companies that are growing and maturing that could be great candidates for acquisition and that is driving buyer interest,” says James Cassel, co-founder of Miami-based investment bank Cassel Salpeter & Co. “There has been a major commitment to pushing South Florida to build its tech sector.”
In addition, Florida is tax friendly with no state income tax, has tons of sunshine and access to three international airports, all which make the state very business friendly.
Read my full analysis here: PE Firms See the Light in the Sunshine State
– Demitri Diakantonis