Dispatches from the front
M&A Today Event Presentations
The M&A Today symposium we hosted last week in Chicago featured 18 outstanding presentations given by experts on the topic of how to close deals in technology and business services industries.
We thought you might have interest in these presentations, so we’ve listed them below grouped by panel headings. Note that some of these presentations may take a minute to load.
Equity in Mid-Sized Deals. Pat Blandford, Principal, Frontenac Company*
Pat describes the industries and deal characteristics of interest to the firm, which manages an investment fund of about $1 billion. Some of the industries in which Frontenac invests are healthcare, HR, insurance/ financial, technology and marketing services, and publishing/communications. View the presentation.
Equity in Big Deals. Philip Canfield, Senior Principal, GTCR Golder Rauner.
Phil’s firm, with about $6 billion under management, operates in ways similar to Frontenac, with similar investment criteria, but tends to focus on larger transactions. Some industries in which GTCR concentrates are transaction processing, healthcare, information services, distribution/logistics, business services and increasingly, heavily branded products. View the presentation.
The Bank’s Perspective I. Aimee Daniels, SVP, LaSalle Bank/ABN Amro.*
LaSalle, a $55 billion bank, serves mid-market clients (those with $5 to $50 million in sales). Aimee’s practice highlights lending to software, information and business services companies.View the presentation.
The Bank’s Perspective II. Darren Latimer, VP, Wells Fargo Foothill.*
Darren lends to software/technology, distribution and manufacturing sectors in the $8 billion bank’s Business Finance Division. Both banks emphasize the importance of recurring revenue as a lending inducement. View the presentation.
The M&A Team: The Numbers & The Law
For the Larger CPA Client. Mitch Manassa, Partner, Transaction Services, KPMG*
Mitch discusses the pervasive effect of Sarbanes-Oxley on M&A transactions, even those featuring private companies, and the frequent need in deals for restating target company revenues.
For the Mid-market CPA Client. Lee Singer, Managing Director, FGMK*
Lee speaks on how to “normalize” financials statements, or adjust them to reflect GAAP and to eliminate items unassociated with the future operation of the business. He also covers commonly occurring off-balance sheet pitfalls.
Buyer’s and Sellers’ Legal Issues. Scott Glickson, Partner, Gordon Glickson* and Neal White, Partner, McDermott Will & Emery
In a combined presentation, Scott and Neil carry out a mock negotiation over the competing interests of buyer and seller. Featured in the presentation are debates over how to convey intellectual property, a particularly relevant discussion in the case of technology and service companies. View the combined presentations.
The M&A Team: Managing Expectations
The Buying & Selling Process Today. Ryan Kuhn, Principal, Kuhn Capital*
A brief tour of how the buying or selling campaign works, and what to expect from a competent intermediary. View the presentation.
Deal Communications Strategy. George Zagoudis, SVP, Financial Relations Board*
George -- with FRB, perhaps the leading communications consultant to public companies -- illuminates the cause-and-effect link between corporate strategy and financial performance, and the public’s perception of the company. He goes on to show how a disconnection between these factors has led to disastrous consequences. View the presentation.
Deal Communications Execution: Peter Cunningham, President, Cunningham & Co.*
Peter, with UPS among his clients, talks about how to translate a communications strategy into action by identifying the all-important public perception “influencer”.
What Dealsters Want
For the Tech Services Buyer. John Raveret, VP, Corporate Development, Cognizant Technologies
Cognizant is now one of the most successful technical services firms trading on Nasdaq. John speaks to what Cognizant wants to buy, and about obstacles to a successful close, and gives an example of what went wrong on a recent (but successfully closed) deal. View the presentation.
For the Software Buyer. Don Gibson, Director, Operations Integration, SSA Global
Don describes SSA Global’s approach to software acquisitions: the company considers doing deals to be an integral contributor to its growth goals, and its highly rationalized process permits strong deal volume and rapid, close integration.
View the presentation.
For the Seller. Randy Patterson, President, Turnaround and Crisis Management
Randy, founder of a successful turnaround firm, describes the process of selling a business under pressure and offers insights into how to do so rapidly and well. View the presentation.
For the Seller. Patrick Spain, Chairman/CEO, HighBeam*
Patrick, co-founder of Hoovers Online, describes his experiences in selling the pioneering Internet company and why he has purchased assets to advance the fortune of his current enterprise, HighBeam, an Internet-based vendor of research tools and databases. View the presentation.
The Tech/Business Services Terrain Now & Next
Industries Our Buyers Like. Tom Flaherty, Principal, Kuhn Capital + Roundstone*
Tom, in cooperation with Kuhn Capital, discusses his buy-side activities on behalf of large equity investment groups, particularly highlighting deals in the hot for-profit education sector. View the presentation.
Trends in Transaction Processing. Franco Turrinelli, Principal/Sr. Analyst, Wm Blair
A transaction processing industry specialist for Blair, Franco addresses the structure of the industry and the M&A implications of its future. View the presentation.
Trends in Software. Howard Smith. Managing Director, First Analysis
Howard delves into software industry trends in growth, investment and deal opportunities. View the presentation.
Trends in Business Services. Amy LaBan, VP, Lake Capital
Lake Capital, a $700 million private equity firm, specializes in service sector investments. Amy describes how the company assesses investment opportunity and where they see it now. View the presentation.
* Denotes Event Sponsor