M&A wrap: Huntington Bank, Atlas Holdings, Gen Cap, Platte River
Mergers & Acquisitions has named 36 leaders the 2019 Most Influential Women in Mid-Market M&A, including Medley Capital's Marilyn Adler, Kainos Capital’s Sarah Bradley, Madison Capital Funding’s Jennifer Cotton, Kayne Anderson Capital Advisors' Nishita Cummings, Huntington Bank's Karen Davies (pictured), Pelham S2K Managers' Venita Fields, Antares Capital’s Shannon Fritz, Avante Mezzanine Partners’ Jeri Harman, Duane Morris’ Nanette Heide, the Riverside Co.’s Pam Hendrickson, Monroe Capital’s Karin Kovacic, Stifel’s Justine Mannering, KPS Capital Partners’ Raquel Palmer, Huron Capital's Gretchen Perkins, Accordion’s Michelle Van Hellemont and Sterling Investment Partners’ Amy Weisman. All 36 are outstanding dealmakers both inside and outside of their firms. This year, we asked the featured dealmakers to tell their own stories through Q&As, including their advice for women. "Always remember that you are not just a box on an org chart," advises Davies. "You are an individual. You have a voice. You have a unique skill set. Take on the role, and put your stamp on it, own your accomplishments. Go for it. Take the risk."
Atlas Holdings LLC has acquired Saxco International LLC, a distributor of packaging products to the wine, spirits, craft beer and food sectors.
Gen Cap America Inc. it has purchased Blower Application Company Inc., a manufacturer of shredders and fans.
Platte River Equity-backed In-Place Machining Co. has bought Cutting Edge Services Corp., a diamond wire sawing, drilling and precision removal contractor for the industrials sector. Abacus Finance provided financing.
For more deal announcements, see The weekly wrap: Bristol-Meyers, Fortis, GI Partners.
For more fundraising, see PE fundraising scorecard: Bregal Sagemount and CMC Capital.
Mergers & Acquisitions asked leading dealmakers about their outlook for the middle market in 2019. View the video conversations, shot at ACG Philadelphia's M&A East:
It is a seller's market, and deal activity is expected to remain steady, says Ramsey Goodrich of Carter Morse & Goodrich. Watch the full video: Outlook 2019: Great time to sell.
Private equity firms and strategic buyers will use their excess cash and capital to look for deals, says Bharat Ramprasad of Stifel Nicolaus. Watch the full video: Outlook 2019: Excess capital to fuel M&A.
Rising interest rates and regulatory changes may increase volatility, cautions Mark Emrich of Murray Devine. Watch the full video: Outlook 2019: Keep an eye on rising interest rates.
Private equity firms are giving back - organizing groceries at food pantries, mentoring students in schools, running races for cancer cures and pitching in at animal shelters. In time for the holidays, Mergers & Acquisitions highlights the philanthropic and volunteering initiatives of 5 PE firms: the Carlyle Group LP (Nasdaq: CG), Frontier Capital, Huron Capital, the Riverside Co. and Star Mountain Capital. At Carlyle, charity starts at the top, with CEO David Rubenstein's signing of The Giving Pledge, a commitment by the world’s wealthiest individuals and families to dedicate the majority of their wealth to philanthropy. Community involvement is more important than ever to today’s work force. Millennials, defined as people born between 1981 and 1996 by the Pew Research Center, are “for sustainability, diversity, inclusion and giving back to the community,” says Carlyle managing director Christopher Ullman. Read the full story, The Big Give.
Dealmakers share their thoughts on Giving Back in video interviews conducted by Mergers & Acquisitions at ACG Philadelphia's M&A East. Check out our video with Reed Smith's Jonathan Moyer: For millennial dealmakers, giving back is part of who they are. And watch our conversationw with Baker Tilly Capital's Judit Nagy-Eichelber: Volunteer work brings teams together.
With the rising number of cyberattacks, conducting due diligence on data is more important than ever in dealmaking. Read the full guest article by Neil Coulson and Cynthia Cole of Bakter Botts: Why mitigating data risk is crucial in M&A.
The ongoing challenges in the retail sector continue to force some retailers to close, including the June liquidation of Toys R Us, backed by Bain Capital and KKR & Co. Inc. (NYSE: KKR).Technology is driving many of the transactions. Best Buy Co. (NYSE: BBY) recently agreed to spend $800 million to buy GreatCall, a provider of emergency response services for seniors, from Chicago private equity firm GTCR. Meanwhile, GreatCall announced a partnership on-demand transportation provider Lyft to make it easier for seniors to get car service. For more, see 5 trends driving retail M&A deals.
Wild Card games played on Saturday and Sunday will determine the last four spots to compete in the NFL playoffs. Off the field, football players build companies. New England Patriots quarterback Tom Brady recently teamed with former Giants defensive end Michael Strahan, who is the co-host of ABC’s Good Morning America, to launch a sports media startup called Religion of Sports Media. Muhsin Muhammad, who played wide receiver for the Carolina Panthers and the Chicago Bears, is a managing director of private equity firm Axum Capital Partners. Steve Young, former San Francisco 49ers quarterback, is a co-founder of private equity firm HGGC. View our slideshow, NFL stars Tom Brady, Michael Strahan, Steve Young go PE.