Mirus Capital AdvisorsMirus Capital Advisors

June 2014

Friday, June 27, 2014

Recurring revenue counts in industries far beyond software

The recurring revenue (“RR”) business model gets a lot of attention in software M&A and growth investment, and for good reason.  Most growing subscription/ software-as-a-service (SaaS)-based software companies trade in the public markets for north of 6x revenue and many of those fortunate few with annual revenue growth over 40% trade for over 10x revenue. […]

Thursday, June 26, 2014

The Top 3 Reasons You Want a Broad Buyer List When Selling Your Company

Recently, a topic has been on several different blogs discussing whether, when your business is being sold, you should go to a small number of buyers, or a broad buyer list.  Based on the title of this blog, you can probably figure out my point of view. Often when I’m talking to a business owner […]

Tuesday, June 24, 2014

Kalypso Acquires Integware; What is Driving Consolidation of System Integrators?

First of all let me congratulate Kalypso Managing Partner Bill Poston and Integware CEO Chris Kay on their recently consummated merger (See Press Release).  Both companies are fine organizations that will do great things together going forward.  This truly is a case of excellent synergies that will make an ideal combination. When Chris approached Mirus […]

Sunday, June 22, 2014

Three perspectives on M&A value: what you pay, what you get, and what you give.

Warren Buffett is fond of quoting Ben Graham’s adage: price is what you pay; value is what you get.   Mr. Buffett is a renowned investor and acquirer of companies, but what does this adage mean when it comes to selling?  For the seller, price is what you get. What do you give? In M&A, […]

Friday, June 20, 2014

Healthcare M&A: Big deals getting all the attention

2014 has to go down as the year of the big announcement (it may also be remembered as the year of the failed Pfizer bid for AstraZeneca). One might think these mega deals are crowding out middle market activity. But that’s only true in the newspapers. In fact, there have been over 1,000 healthcare deals […]

Posted by in Healthcare
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Tuesday, June 17, 2014

“$163 million?!!!? Hey, Terminate ME!” (Break-up fees in the middle market)

Hillshire Brands agreed last month to acquire Pinnacle Foods for $4.3 billion in a deal intended to broaden Hillshire’s product offerings beyond Ball Park hot dogs, Jimmy Dean sausages, and other protein products by adding Pinnacle’s roster of iconic grocery brands including Birds Eye, Mrs. Paul’s, Log Cabin, Duncan Hines, Vlasic and more.  The market […]

Monday, June 16, 2014

US manufacturing continues to bloom in May

US industrial production increased in May for the third time in four months, rising a seasonally adjusted 0.6% from April, according to the Federal Reserve. Capacity utilization climbed to 79.1% in May, continuing to provide support for manufacturing expansion in 2014. US manufacturers were generally impaired by the harsh winter, and the performance in recent […]

Tuesday, June 10, 2014

5 Reasons to Sell Your Business in 2014

Owners of many privately-held businesses have sat out the recent resurgence in M&A activity while waiting for their company performance to rebound and waiting for M&A valuations to match their expectations once again.  Abundant capital and fervent demand are fueling a strong M&A market, so owners should consider these five reasons to sell their businesses […]