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Monday, May 09, 2022

Every Owner Exits – Part III

This month, I conclude my series on exit options (see Part I and Part II) with a discussion of recapitalizations and ESOPs. Recapitalizations Minority recapitalization is a type of investment in which an investor provides debt and equity capital in exchange for a less than 50% ownership stake in a company. Capital can be used […]

Monday, April 25, 2022

Every Owner Exits – Part II

As a follow-up to last month’s blog, I’d like to share some additional thoughts on exit options.  Below I discuss the options of going public or selling a business. Go Public When a firm decides to go public, there are three primary options Traditional IPO – the company hires an investment bank to underwrite the […]

Monday, March 07, 2022

Every Owner Exits

There comes a time in every business owner’s life when he or she will move on.  Exiting an ownership position can take many forms, from a very public IPO, to a gift to the heirs, a sale to new owners, to, I dare say, a tragic death at the desk. This article highlights the characteristics […]

Monday, June 21, 2021

COVID-19 Impact on E-Commerce

Approximately 51% of United States residents are at least partially vaccinated as of June 2021. With the rate of positive COVID-19 cases dipping, we are slowly watching the country return to pre-pandemic life.  As we watch life return to normal, it is clear that there will be potent effects to both retail and e-commerce in […]

Tuesday, January 19, 2021

E-Commerce Valuation and the COVID-19 Bump

COVID-19 is the story of the year 2020.  It had a profound effect on our businesses, politics, health and relationships.  Analyzing the effects on relationships, politics and health should be left to doctors, therapists and pundits.  How it affected business, especially e-commerce, is fascinating. While much of the country was shut down beginning in mid-March […]

Wednesday, January 29, 2020

4 Factors That Can Influence Your Valuation

For many years I have written that a company’s value during a sale process is determined primarily by three variables: Size of the company, growth of the company, and profits of the company.  Of course, that is overly simplistic. Many other factors influence the value of a company. Several examples are: the industry in which […]

Monday, January 27, 2020

Direct Marketing Deal Elements

By Stuart Rose, Mirus Capital Advisors and Geoff Wolf, Wolf Direct There are important numbers and concepts used to evaluate the acquisition of companies. Sales, growth, profitability, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), and discounted cash flow (DCF).  All of these are important when presenting a company for sale in a Confidential Information […]

Friday, January 10, 2020

It was the Best of Times

It was the best of times, it was the worst of times.  Stock market indices are achieving record highs while nearly 40% of publicly traded US businesses lost money over the last 12 months (according to James Mackintosh of the WSJ). How is that happening?  How do companies like Tesla trade at valuations of billions […]