Issue: 31
APRIL 2015

Good News:
2015 M&A Source Spring Conference Hotel Discount Deadline
Extended to April 10!

If you haven't already reserved your hotel room for the upcoming 2015 M&A Source Spring Conference, good news! The original hotel discount deadline has been extended to this 
Friday, April 10. In addition, The M&A Source staff also recently visited Atlantic City in preparation for the conference, and reported that the conference hotel is in a terrific part of the city with fantastic restaurants and breweries, an easy walk to the famous boardwalk, a beautiful beach, and over 100 shops just across the street from the Sheraton. Check out  photos taken during their visit for a sneak peek of the area.


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In This Issue

Flying Under the Radar

Joe Lindsey, M&AMI, CBI
Chair of The M&A Source 


Organized 1991 - 1992, The M&A Source has flown under the radar for more than two decades, but throughout those years we have served the needs of our members and their local, regional, national and international clients.


Because The M&A Source was organized by members of the IBBA (International Business Brokers Association), and approved by the IBBA Board of Directors, many misconceptions still exist.  One of the more common misconceptions is that our members focus on Main Street, mom & pop business listings and sales.  If that were true, there would have been no need to create the M&A Source because transactions of that size and complexity were, and still are, the focus of the IBBA and its members.

Pratt's StatsPrivate Deal Update: 1st Quarter 2015


The information provided below is excerpted from the Pratt's Stats Private Deal Update: 1st Quarter 2015, which is copyrighted by and available exclusively from Business Valuation Resources, LLC. Brokers who contribute transaction details to Pratt's Stats on closed business sales receive the complete Private Deal Update plus three months of free access to the database for each deal included in Pratt's Stats.


The quarterly Pratt's Stats Private Deal Update (PDU) provides general trend information on valuation multiples and profit margins for transactions in the Pratt's Stats database, available exclusively through Business Valuation Resources, LLC (BVR) at


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Investment Bankers Don't Have Magic Words
Bill Snow

Takeaway: Investment  bankers do not have magic words that they whisper in the ears of buyers to get them to pay more for a company. Sellers should be wary of any advisor who says (or implies) they have that ability. Valuation is the intersection of competition, the strength (or weakness) of the underlying business, honesty, the want/need of the buyer, the motivation of the seller, the tenor of the times, and the skill of the investment banker.

A pleasant surprise for many business owners is the discovery that finding buyers for their businesses 
is not difficult. In good economic times and bad, companies want to make acquisitions. Perhaps buyers are willing to pay more in good times, perhaps companies with some " hair" more readily will find buyers in a frothy market, but the bottom line doesn't change: Finding buyers is not difficult. Frankly, finding a buyer is the easy part. Closing a deal that makes sense for the seller is the tricky part. 

Market Pulse Q1 Survey NOW OPEN!


The first quarter's Market Pulse Survey of 2015 is now open! This is an important industry initiative led by the IBBA and M&A Source in partnership with Pepperdine Private Capital Markets Projects. This survey, which only takes minutes to complete, aims to take the pulse of the current brokerage marketplace, from recent closings to what is in the pipeline. The results of the survey are then analyzed and transformed into a report that contains invaluable data to strategically build and maintain a successful and sustainable business.

The Q1 survey will take approximately seven to nine minutes to complete; it will officially close April 15 at 11:59 pm PDT. Please note the survey should be completed on an individual basis and you are welcome to forward to other brokers and intermediaries in your firm to get your office's complete data.

To take the survey,
click here. For more information about the Market Pulse Quarterly Survey and Report, click here. 

How A Recapitalization Can Help Boost The Business

Prospect Partners 

"If you don't know where you're going, you'll wind up somewhere else." - Yogi Berra, former Major League Baseball catcher, manager, and coach.


So what's next? Many business owners picture their ultimate goal - a successful sale, transitioning ownership to the next generation, a comfortable retirement. Expecting to manage day-to-day operations for another seven years or more, they may not be thinking about - or know - how to best achieve that outcome.


A recapitalization can be a key part of the transition to the "next" chapter, for both the business and its owner.


"Owners should at least go through the thought process - they should know what a recap is and how it could play a role in helping them grow their business, reduce personal risk, and ensure they don't get stuck holding the company when they can least afford to," says Lou Kenter of Prospect Partners. 


The Top 10 Deal Killers: How to Avoid Them
Ron Stacey
Founder and Managing Director, Legacy Advisors

It's an all-too-familiar story line in the deal business: after months of hard work and in many cases hundreds of thousands of dollars in legal fees and expenses, the deal blows up. Most of the time it's solely the fault of the participants, usually the seller, but sometimes external factors can add to the risk of deal failure. The really unfortunate thing about these bad outcomes is that many can be avoided with careful planning, due diligence preparation and just plain common sense. This article addresses the top 10 deal killers and offers some suggestions on how to avoid them.


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Welcome New 

M&A Source Members


Karen Barnes

Artie Barrett

Sri Geedipalli

Kelly Park

Wilf Rapp

David Whitehead

Michael Wildeveld 

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Editor's Desk

As Chair of the Communications Committee and Editor of the BRIDGE, I welcome your questions, comments, suggestions, letters to the Editor, etc. Our goal is to provide content that is relevant to our readers.  Your feedback will help us achieve that goal.


Members of The M&A Source are encouraged to submit articles for publication.

Mike Camerota,  M&AMI,  CBI 

About Us
M&A Logo
The association is organized and operated to promote members' professional development to better serve their clients' needs, and to maximize public awareness of services performed by intermediaries and ancillary advisors who facilitate solutions available for lower middle market merger and acquisition transactions. 

The M&A Source was established in 1991 to address the challenges faced by merger and acquisition professionals. This international organization currently has more than 350 M&A dealmakers including intermediaries, investment bankers, attorneys, accountants, financial planners and others involved in the M&A process.