The Changing Scene: Middle-Market Pro Joins Boutique Firm

One of Wall Street’s most prominent middle-market dealmakers, Michael J. Rolland, left his post as Managing Director and Senior Banker in Merrill Lynch & Co.’s Private Sales & Dives-titures Group and became an adviser to Chartwell Investments in New York. Pursuing a longtime interest of his in the private equity and leveraged buyout areas, Rolland joined the boutique firm in a position that he says will allow him to focus on the more creative elements of doing deals and to spend more time working with management teams and building businesses. Active in middle-market m&a for 23 years, he joined Merrill Lynch in 1984, following its acquisition of A.G. Becker, where he had specialized in international m&a since joining that company in 1977. At Merrill Lynch, Rolland founded the Private Sales & Divestitures Group, the company’s middle-market business. In his new position, Rolland will be active in various aspects of transactions, including sourcing and negotiating deals and helping Chartwell with the process of realizing its investments. “I have been very focused on advising sellers, but when the transaction is over, it’s on to the next deal. This will be an opportunity for me to spend a little more time building those businesses and working closely with management teams. I think I’ll find that very satisfying.” He says that at Chartwell he will continue to concentrate on mid-size deals. “You’re either a middle-market person or you’re more of a Fortune 500 sort of person. I’m basically a middle-market guy,” he notes. Throughout his career, Rolland has sold more than 300 businesses, including Polaris Pool Cleaners, Smart Carte, the Amstar sugar brand (now Domino), Alpine Lace, and Golden Cat Corp. A native of Scotland, Rolland came to the U.S. to attend Stanford Business School. After graduating, he returned to Scotland, became an investment manager, then returned to the U.S. in 1977 to “really get into the m&a business.”