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Mergers & Acquisitions News


02/06/2017

Focus on Mergers & Acquisitions: Market Update


After strong growth in 2014 and 2015, mergers and acquisition activity for private equity firms in the middle market decreased in 2016. According to PitchBook, private equity middle-market M&A activity (defined as transactions from $25 million to $1 billion) decreased 14.4% to 1,908 transactions while total deal value decreased 12.0% to $367 billion.

04/03/2014

Focus on Mergers & Acquisitions: EBITDA and Cash Flow, A Tale of Two Metrics


In the worlds of M&A and valuation, companies’ values are often quoted based on multiples of EBITDA. However, its usefulness is limited to the financial sophistication of its user. In fact, in very few instances is EBITDA a reliable indicator of cash flow.

02/18/2014

Focus on Mergers & Acquisitions: Considerations With Buying A Company That Owns Real Estate


Many financial buyers prefer to acquire companies free-and-clear of real estate. However, there are times when there is little choice but to acquire a business’ real estate in tandem with the business.

12/20/2013

Got Revenue?


In a number of recent financial due diligence engagements, RubinBrown's advisors noticed probable misstatements of a target's reported revenue. Revenue misstatements usually result in a reduction to revenue (and EBITDA), but not always. The following is a list of revenue misstatements that have been uncovered, as well as the usual direction of any adjustment necessary to bring a company's reported revenue in line with reality.

08/07/2013

Focus on Mergers & Acquisitions: Top Ten Actions to Take Before Going to Market


Presuming that you've made the decision to sell your company and are fully committed to seeing it through, the below items represent what we feel are the Top 10 actions to take before putting your company up for sale. Many of these actions are best undertaken years ahead of a potential sale, yet we often find business owners scrambling to complete these action items during a buyer's due diligence process.

05/06/2013

Focus on Private Equity: The State of Mergers & Acquisitions Activity


The blistering pace set in the 4th quarter of 2012 has passed, but deal flow, while slow in early 2013, looks to be picking up. The middle market1 continues to be a bellwether for the greater M&A market. Secondary buyouts2 represent an increasing share of private equity exits.