Mirus Capital AdvisorsMirus Capital Advisors

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 28, 2022

10 Questions with Stuart Rose

Stuart Rose is a Partner at Mirus and a recognized expert in direct marketing and retail investment banking. With over 15 years of deal making experience he has completed sell-side and buy-side transactions for clients such as Cuddledown, Victorian Trading Company, Imaginova, S&S Worldwide, AmeriMark, and the Thompson Group.  Stuart holds a Bachelor of Arts […]

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 […]

Tuesday, November 02, 2021

Four ways a CFO can add value in M&A

The CFO brings a critical perspective to the sale of a business.  Typically she’s the one with the best understanding of the “numbers”, the financial history and the overall economics of the business.  Most CFOs have got their monthly reporting process down and know how to work efficiently with lenders and auditors.  There’s a regularity […]

Wednesday, October 27, 2021

Just what is recurring revenue?

We’ve worked with companies across many industries and one question that comes up all the time is: “how much of your revenue is recurring?”  Are customers coming back regularly? Predictably? Are you competing for each sale, or is repeat purchase more typical?  Are you “spec’d in” to customers’ products and what’s the lifecycle of those […]

Friday, September 17, 2021

8 factors driving software valuation multiples

Public software company valuations have risen to astronomical levels in recent years. Valuations for small privately held software businesses are strong as well and can vary significantly from one transaction to the next.   What drives a 2x revenue multiple vs. a 10x revenue multiple? Some key factors influencing transaction multiples include: Size: larger companies […]

Wednesday, February 03, 2021

How has the COVID-19 pandemic changed the deal process?

It’s been remarkable to see the rebound in deal activity in the last few months and to observe the M&A process shift to virtual settings. A few things that we’ve observed: Most or all of the deal process can be done remotely. Most meetings can be done over videoconferencing, and most diligence can be done […]