Transaction Advisory
Major League Experience for the Middle Market

The story of our transaction advisory services is best told in the financing and acquisitions of more than 100 soft-drink bottlers with which we have been involved.  In addition, our involvement with the financing and acquisition of five Major League Baseball© teams set us apart from other transaction advisors.

Soft drink bottlers and major league sports franchises are at opposite ends of the industry spectrum, but they perfectly represent the wide variety of industries we serve.  There is no substitute for the depth of experience we bring to our clients, experience wrought from involvement in over $15 billion in transactions.

Buy-Side Representation

• Preliminary Valuation – The first step in buy-side representation begins with a preliminary estimate of  the value of the target. Obviously our expertise in business valuation plays a crucial role in this first step.
  
• Financial Forecasts and Feasibility – Our work in buy-side representation typically begins with forecasting the future cash flows based on management’s assumptions and a new capital structure. Our work in preparing these detailed forecasts provide objective insight as to whether or not the price is feasible.
  
• Due Diligence – With our background in audit and tax and a wide range of experience, we prepare in-depth due diligence to look behind the historical operation results and thus determine if new operation assumptions are feasible. The results of our work feed back into the financial forecasts.
  
• Preparation of Financing Memorandum – The information on the target and the industry in which the target operates gained in our preparation of the financial forecast and due diligence serves as the basis for our preparation of the financial memorandum. These memorandums contain important operational information that lends credence that the price to be paid for the target can be justified.
  
• Arranging Debt and Equity Financing – The memorandum serves as the basis for obtaining debt and equity to finance the transaction.  No one better understands and communicates this information than those who prepared the forecast.  Moreover, we can prove the assumptions through due diligence. We work shoulder to shoulder with the buyer to obtain the financing.
  
• Negotiating the Transaction – With our depth operational knowledge, understanding of business value, and knowledge of the financing ability of the operations, we help our client negotiate the purchase price, terms of the acquisition, and the financing to be put in place.
  
• Closing the Transaction – It is truly not over until the money changes hands and we work with buyer and sellers and their legal counsel to drive a deal to the closing table. Our experience in working with hundreds of transactions provides us with the ability to recognize potential road blocks to closing and thus provide assistance to achieving a successful closing.

Sell-Side Advisory – Sell side is much the same as buy-side advisory as it involves many of the same aspects: preparing financial forecasts, understanding the business, and the industry in which the company operates. We believe knowing how a buyer thinks is the key to knowing how to sell a company. We have also spent years working with equity funds and have data bases to identity strategic buyers. And of course our valuation experience is a key for a successful sell-side engagement. Due to regulatory issues with FINRA we have spun out our sell-side advisory to our affiliated FourBridges Capital Advisors. (www.fourbridgescapital.com)