2017 M&A: Race to the finish?
As we enter the final stretch of 2017, the year behind us saw a continuing rush of M&A activity, albeit at a slower pace than the frenzied 2016. At the same time, many market observers are optimistic about deal activity in 2018. For most of 2017, the year was notable for its dearth of blockbuster […]
The Einstein Effect
The recent headline “Einstein’s Note On Happiness, Given To Bellboy In 1922, Fetches $1.6 Million” demonstrates a few things relevant to valuation. Albert Einstein, the German-born theoretical physicist, father of the theory of relativity and the famous E = mc^2, and soon-to-be Nobel prize winner, was travelling to Tokyo in 1922 when he learned was […]
Time is on whose side?
The refrain of the song popularized by the Rolling Stones goes “time is on my side, yes it is.” How time is used in a negotiation, who manages the timetable and who benefits from a faster conclusion to the negotiation can be influential factors in the outcome. Time is usually on someone’s side in a […]
8 Reasons to Hire an Investment Banker when Selling Your Business
“He who represents himself has a fool for a client.” While Abraham Lincoln was talking about lawyers, a recent empirical study shows the same could be said for business owners who forego the services of an investment banker when selling their business. A research paper on “The Value of Middle Market Investment Bankers” published by […]
Three steps to a great (not just “good”) M&A exit
In preparing for an upcoming event where I’ll be moderating a panel made up of an investor, an advisor and executive who each have been through the M&A process, I’ve been considering some of the more successful M&A exits my firm has been involved in. One of the topics the panel will be covering is: what […]
Open Source and the impact on Selling your Software Business
Now before I start, let me say that this is not a judgement on the use of open source as a part of your development strategy. My opinion is that in general that open source initiative has been a great boon to the software development community and by sharing code and tools, developers have saved […]
Answers to Questions from Middle Market C-Suite Executives: Part 2
This week Mirus partner Andrew Crain is answering questions from C-suite executives of middle market companies about investment bankers’ role advising private business owners. Here is Part Two of the Q&A: Question: What are the biggest mistakes a middle market company makes in engaging in its first acquistion? Underestimating the importance of company culture is […]
The value of a phone call
I was recently at a panel presentation hosted by a local technology firm. One of the panelists recounted his recent success landing a multi-million dollar order with a big box retailer. It was a complex story and situation. The product has to be on the shelves for the holidays, and so had to ship in […]