Martin LLP is a trusted advisor to regional and national clients on corporate, litigation, and real estate matters. As a sophisticated law practice, we are particularly valued for our relationships with growth companies and their private equity and venture capital investors. With a proactive approach, we partner with our clients, anticipating their needs and providing practical advice focused on maximizing the value of their business opportunities.


  

June 2018
In this edition of our newsletter, we focus on the trend of private equity firms
increasingly pivoting their strategy to bolt-on or add-on acquisitions.

Private Equity
Finance2Increased Bolt-On Activity is Lengthening Hold Periods
Pitchbook
As sponsors increasingly look to grow platform investments through bolt-on acquisitions versus a pure turnaround play, evidence suggests that the average time to achieve an exit is being extended by 20-25%.

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Utilizing portfolio companies as acquisition vehicles, sponsors are creating value through cost synergies traditionally only available to a corporate acquirers situated in a similar business sector.   

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Finance3Lower Cost Growth - Deal Value Rises in a Crowded Market 
Forbes
As the deal environment becomes increasingly competitive, sponsors are employing a variety of strategies to differentiate themselves in a crowded field, including focusing on bolt-on strategies aimed at achieving scale on a less costly basis. 

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Finance4Operating Partners Can Play an Important Role in Bolt-On Strategies
Axial
A seasoned operating partner can help drive operational improvements at a portfolio company but can also be a valuable asset to a sponsor in helping to identify, execute on and integrate bolt-on acquisitions. 
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MLLPNewsMartin LLP News
In a June 5, 2018 decision, District Judge Vincent L. Briccetti denied PepsiCo's motion to dismiss a breach of contract claim asserted by Betty, Inc., a Trumbull, CT advertising agency, related to the commercial Pepsi aired during the 2016 Super Bowl.  In the Southern District of New York lawsuit, Betty claims that Pepsi unlawfully used ideas created by Betty without including Betty in the process.  Betty previously defeated a motion made by Pepsi to dismiss Betty's copyright infringement claim.  Betty is represented in the lawsuit by Martin LLP litigator Mark S. Gregory.

TeamTriumphMartin LLP Participates in 5k with MyTeam Triumph 
Members of Martin LLP recently had the opportunity to participate in a 5k  race with My Team Triumph

MyTeam Triumph is an  organization whose missio n is to enrich the health and well-being of individuals with disabilities for fostering lasting, authentic relationships through teamwork and environment of endurance athletics. 
 
 
MartinLLP3Kenneth DellaRocco Selected for 2018 Super Lawyers 
Martin LLP is proud to announce that Kenneth DellaRocco has been selected for inclusion in the 2018 edition of Connecticut  Super Lawyers.   Only 5% of attorneys in Connecticut receive this distinct ion .   Super Lawyers , a Thomson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The listing has been published annually since 1991.
 
LaurelHouseMartin LLP is Proud to Support Laurel House
Martin LLP participated in the Laurel House Resources to Recover event in April 2018. The Laurel House provides mental health resources to people coping with mental illness, and their families, across numerous communities in and around Connecticut.
 
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