Dear Clients, Partners, and Friends of
This past year has certainly been eventful, both on a macro level and for us here at the firm. The overarching story is one of broader economic uncertainty--especially over the last month.
Today, the Fed is active, stock markets are churning, and economic indicators are shifting. Some economists are even forecasting a recession (and they should know--they've correctly forecast 11 of the last 8 recessions!).
In our full annual letter, I break down some of the drivers behind these economic shifts--and, at risk of sounding more like a Washington newsletter, dip into the political and policy-related factors keeping CEOs sleeping restlessly despite the booming economy. All that said, it's a seller-friendly market and we're excited as we look ahead to 2019.
I also get to use this opportunity for my favorite activity: thanking you for your continued role in our success. I know I say this every year, but this truly has been our busiest year ever.
We moved our headquarters to Scottsdale, AZ, launched our Lower Middle Market Group (a dedicated practice offering comprehensive M&A advisory services tailored to companies with enterprise values of $5 - 30M), released more than 100 new pieces of intelligence, spoke at and met industry leaders at multiple conferences, and of course successfully created value with multiple smart clients.
We would not be where we are today without you--and I hope we have the opportunity to continue to profit together in the new year.
Happy Holidays, Happy New Year, and, as always, Happy Selling!