Quarterly Update | September 2020
Middle Market Commentary
Middle market merger and acquisition deal activity continues cautiously as owners wade through the aftereffects of COVID-19, Paycheck Protection Program loans, and the tax implications of an election year. Market data through June 2020 provides an unsurprising view of the M&A environment in the months following the onset of the pandemic – flat valuations, dramatic decrease in deal volume, and less available debt. It will likely take another two or three quarters for market data to reflect transactions that would have closed this spring yet went on hold as a result of unfavorable market conditions related to COVID-19. Meanwhile, M&A practitioners continue to monitor client performance on a situational basis as they weigh which deals to bring to market. 
Upcoming Webinar: Private Equity Breakfast Speaker Series
Please join us for the Private Equity Breakfast Speaker Series, a premier middle market virtual series where senior members of leading private equity firms are invited to present their perspectives on the private equity arena. This event is geared towards senior-level equity investors, investment bankers, lenders, attorneys and other financial services professionals.

Date: Tuesday, October 13, 2020
Time: 10:00 - 11:00 AM (CST)
Cost: Complimentary

Zoom link provided upon registration
Upcoming Webinar: Unlocking the Value of QoE Reports
Register for this webinar to understand the most significant financial tool for evaluating proposed transactions or financings – Quality of Earnings (QoE) Reports. This is a great opportunity for business owners, CFOs, controllers, or other similar financial executives. Learn from panelists who have first-hand experience working on transactions and know the value of this tool. Hear how strategic parties and financial sources evaluate cash flow and performance, and how business owners optimally position themselves to attract and command the most lucrative buyout offers, while demystifying the financial diligence issues involved.

Date: Thursday, October 8, 2020
Time: 3:00 - 4:00 PM (CST)
Cost: Complimentary

Zoom link provided upon registration
Case Study: GulfStar Provides Strategic Alternatives to Niche Industry Leader
Tanknology's Dual Purpose to Serve Fuel Tank Owners and Protect the Environment

This case study explores how Tanknology, Inc. became the largest provider of environmental compliance testing and inspection services for retail fuel providers in the United States, some of the key objectives of the transaction and GulfStar's advantages in a majority recapitalization.
Post-COVID M&A A Braver, Newer World
Published in The Texas Lawbook on July 30, 2020
Written by Colt Luedde (GulfStar) & Larry Wilson (BoyarMiller)

The pundits say that the only constant is change. That statement has never been truer than in 2020. This article looks at how COVID-19 will affect the buying and selling of businesses in the present and the future.
Webinar Recap: Resilience How Private Equity Firms Made Strategic Changes During the Quarantine
ACG Houston presented Part Two of the Big Pivot Webinar Series on Resilience: How PE Firms Made Strategic Changes During the Quarantine on July 23, 2020. GulfStar, The CapStreet Group, Main Street Capital Corporation and WhiteHorse Capital discussed marketing, conducting due diligence, lending to and closing different opportunities during the quarantine.
Recent Transactions
GulfStar Managing Directors
Cliff Atherton
Managing Director
713-300-2060
Kent Kahle
Managing Director
713-300-2025
Colt Luedde
Managing Director
713-300-2015
Bryan Frederickson
Managing Director
713-300-2030
Stephen Lasher
Managing Director
713-300-2010
Scott Winship
Managing Director
713-300-2011
Tom Hargrove
Managing Director
713-300-2050
Brian Lobo
Managing Director
713-300-2047
Begin With the End in Mind
When you decide it's time to make an important business transaction, it's critical that you assemble the right team of experts to ensure you are optimizing the outcome.
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