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September 4th, Dallas Chapter Mtg
Register Here
January 27th - 29th, Las Vegas NV
AM&AA Winter Conference - SAVE THE DATE!!
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AM&AA Internaional Conference
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Save the Date!
AM&AA Europe Chapter Meeting
October 16-18, 2014
andel's Hotel, Berlin, Germany
In cooperation with EACVA (European Association of Certified Valuators & Analysts)
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| 6TH Annual
Thought Leader of the Year Nominations are NOW OPEN
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The AM&AA has partnered with BKD and Merrill DataSite to recogize the 2014 Middle Market Thought Leader of the Year.
Consider nominating executives, clients, advisors or partners who are Middle Market Thought Leaders. Nominations can include books, research studies and white papers.
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Email your US Senators NOW!!
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May through July is always the most productive time for Congress - especially in a mid-term election year - so our best chance for passing S 1923 in this session of Congress will likely be in the next 90 days.
Your US Senators urgently need to hear from YOU that this bill is important to you, and to buyers and sellers of privately held businesses in your state.
Email your US Senators NOW!
...And ask them to join:
- Senator Joe Manchin III (D WV),
- Senator David Vitter (R LA),
- Senator Saxby Chambliss (R GA),
- Senator Tom Coburn (R OK),
- Senator John Barrasso (R WY),
- Senator Patrick Toomey (R PA),
- Senator Tim Scott (R SC),
- Senator James Inhofe (R OK),
- Senator Angus King (I ME), and
- Senator Amy Klobuchar (D MN)
- Senator Bill Nelson (D FL)...
...in co-sponsoring S 1923!
We've been advised that S-1923 is one of several small, non-controversial bills that has an excellent chance of passage in the final days of the 113th Congress if we can just get 2-3 more Senate Democrats to sign on as co-sponsors, so the bill truly has balanced, bi-partisan support.
Indeed, as the Senate is now in its summer recess for the month of August, we're receiving a flurry of calls from staffers to Senate Democrats requesting more information about this bill.
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Summer Reading List
Recommended for Dealmakers
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There is nothing better than cracking open a good book during the summer. But, with so many options available, how are you supposed to choose? To help you decide, Axial compiled some recently published recommendations. The books are divided into two lists: one for dealmaking and one for general business. Whether you are looking to build relationships with new contacts, improve relationships with existing contacts, or simply become a better leader, these books are must-reads.
Go to the lists.
http://www.axial.net/forum/summer-reading-list/
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IN MEMORIUM
Joseph Rippe
We are deeply saddened to announce that our long time friend and member, Joe Rippe, has passed away. Joe had been a CM&AA member for over 10 years. He will be greatly missed.
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Why Become a Member of the Alliance of Merger & Acquisition Advisors?
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By becoming a member of the AM&AA you will be in great company and will be connected to a valuable network of M&A expert members who act as resources for other members,
- AM&AA's Listserve - ability to announce and discuss issues among the membership through an email hosting service
- AM&AA Member LinkedIn Group
- Registration discounts for both of AM&AA's prestigious events
- Name listed in the Member Directory on AM&AA's website
- Improves and broadens members' capabilities, knowledge and professional expertise through education, training and member outreach.
- Provides group buying benefits
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2014 AM&AA Summer Conference
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Evolve: Capturing Opportunities in Today's Market
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SUCCESS!! SUCCESS!! SUCCESS!!
Thank you to all our 2014 Summer Conference attendees.....over 600 registered attendees and a wonderful night at Wrigley Field.
Please join us January 27-29, 2015 at the JW Marriott Resort & Spa for our 2015 Winter Conference. The resort is centrally located in the resort community of Summerlin, NV
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Deloitte's Third-Quarter Index
Rising 'Animal Spirits' Stoke Activity
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The Deloitte M&A Index, a forward-looking indicator that forecasts future global M&A deal volumes and identifies the factors influencing conditions for dealmaking, calls for a continued uptick for Q3, bolstered by strong economic results and renewed market confidence. Global deal volumes are expected to increase 9 percent over last year's third quarter.
Click here to see why animal spirits are spilling over to M&A markets.
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 The "Certified Merger & Acquisition Advisor" (CM&AA) designation serves to maintain the highest recognized standards of professional excellence for middle market corporate financial advisory and transaction services, and to provide a benchmark for professional achievement within that overall body of knowledge.
"You will emerge with timely, immediately applicable strategies for finding and closing the optimal deals to carry out your long-term business objectives. To achieve the highest deal value, you will employ superior valuation techniques to determine the right price and conduct due diligence in many dimensions. Optimizing your deal structures from financial, accounting and tax standpoints, you will maximize shareholder value going forward. And your initiatives will harmonize the structure and performance of the transformed enterprise you create."
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It's a Good Year for IT
Race to Expand Portfolios Drives Deals
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For buyers and sellers of IT businesses, 2014 may be the best year yet since the Great Recession for conducting mergers and acquisitions. According to a survey at the 15th Global IT M&A Forum, IT executives say the market is ripe with companies with the right mix of technology, market reach and domain expertise to make purchases viable. North America remains the hot spot for tech M&A and the primary driver of M&A activity is the need for expanding portfolios and capabilities without long technology and market development cycles.
See the best news yet for sellers.
http://channelnomics.com/2014/07/10/survey-2014-good-year-ma/#.U8GCO9NesVk
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Best First Half in Three Years
Slow May Can't Stall Momentum
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The first six months of the year generated more middle-market deals than the same periods in 2012 and 2013. The best month for middle-market M&A in 2014 so far was January, which benefitted from deals that didn't quite close by year-end. Coming in second was April, which generated 203 transactions valued at $29.9 billion. The worst month was May, which produced only 145 deals valued at $16.1 billion, in part due to bank holidays in the U.S. and Europe.
See why concerns about May were unfounded by clicking here
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| Professional Development: |
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How to Become a Better Leader
Start by never Asking These Questions
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Questioning is undoubtedly a valuable leadership tool. Asking the right questions can help business leaders anticipate changes, seize opportunities, and move their organizations in new directions. But how you question is critical. Questions can be great for engaging and motivating people, but they can just as easily be used to confront or blame, and can shift the mood from positive to negative.
Some specific questions to avoid.
http://blogs.hbr.org/2014/07/5-common-questions-leaders-should-never-ask/
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Security a Major M&A Headache
One That Dealmakers Can't Avoid
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Cyber espionage is quickly emerging as a viable risk to the global mergers and acquisitions market, a factor that dealmakers can't afford to ignore anymore, according to law firm Freshfields Bruckhaus Deringer. A recent survey conducted by the firm has highlighted a worrying level of complacency toward the assessment of cyber risks during M&A deals, despite the fact that cyber security is a hot-button issue across businesses. Cyber risk is a relatively new but important component in the due diligence process, with the Freshfields study highlighting that security breaches can reduce deal value or see the entire process squashed.
Most firms admit to not addressing the problem.
http://www.heraldsun.com.au/business/breaking-news/cyber-security-a-major-ma-headache/story-fnn9c0hb-1226984147031?nk=b4f4a142e6f38fcf00be237013bf73e6
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Study Challenges View of Buyout Firms
From Debt-Fueled Returns to EBITDA Growth
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Operational improvements, rather than debt, have fueled returns at private equity-backed businesses sold since the financial crisis, according to a new study that challenges the view that leverage has driven returns from boom-era deals. Of the companies that were bought by buyout firms between 2005 and 2008 - and have since been sold - operational improvement was a key factor in boosting returns, according to the study that analyzed deal information on the sales, multiples, net debt, enterprise value, cash flows, and earnings before interest, taxes depreciation, and amortization from 701 private equity exits globally between 1990 and 2013.
See how much value was created through EBITDA growth.
http://blogs.wsj.com/privateequity/2014/06/24/data-buffet-buyout-firms-graduate-from-debt-fuelled-returns/?mod=WSJBlog
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Is Freelancing the Future?
A New Spin on an Old Industry
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M&A has historically been an old-fashioned industry characterized by large institutions and structured career tracks. However, a change is on the horizon. For most M&A professionals, a career starts at investment banks, where thousands of analysts are hired each year and rigorously trained in financial analysis, Microsoft Excel, market research, and presentation building. While a few climb the ranks to become relationship-focused managing directors, the majority leave, switching to investment careers at private equity firms and hedge funds, strategy careers at large corporations, or abandoning the M&A world altogether. This rigid structure is beginning to evolve as many entrepreneurial dealmakers choose to branch off and pursue freelance options or establish their own boutique shops.
See what is accelerating this trend. http://www.axial.net/forum/freelancing-future-m-a/
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Our goal is to help make your business as efficient and profitable as possible. We will work with you to help solve your problems, while understanding that you have limited resources and budget. Upon completion, we will present to you a written assessment of your business and recommendations for improving inefficiencies and cost. Sign up today.
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