Quarterly Update
| May 2019
|
Middle Market Commentary
This commentary and all associated charts cover middle market deals completed through December 31, 2018. The key information sources, GF Data and PitchBook, provide quarterly reports covering M&A, leverage activity and key deal terms. GF Data collected data from two hundred active private equity groups on 62 transactions completed in the $10 to $250 million value range in Q4 '18, and PitchBook on 368 transactions in the $100 to $500 million range. GulfStar Group actively monitors valuation metrics to provide business owners and clients with a current view of market conditions and their transaction options.
|
|
|
Avoiding Valuation Kabuki Theater
By Scott Winship, Managing Director
Middle market M&A transactions, particularly those that involve family-owned or entrepreneur-owned businesses, are replete with complex nuances that do not (typically) present themselves in up-market, institutional transactions. The emotional content of mid-market transactions is often coupled with a relative lack of "deal sophistication" on the part of the business owner(s), which can manifest in a healthy amount of confusion, as the deal is more than likely to be the first and the last deal they ever do. This confusion is often exacerbated when business owners solicit opinions from their family and friends, where viewpoints are plentiful, but contemporary and acute experience is frequently limited and/or materially misguided.
|
|
|
|
GulfStar Managing Directors
|
Cliff Atherton Jr.
Managing Director
713-300-2060
|
Thomas M. Hargrove
Managing Director
713-300-2050
|
Brian Lobo
Managing Director
713-300-2047
|
|
Bryan C. Frederickson
Managing Director
713-300-2030
|
G. Kent Kahle
Managing Director
713-300-2025
|
Colt Luedde
Managing Director
713-300-2015
|
|
Roshan Gummattira
Managing Director
713-300-2036
|
Stephen A. Lasher
Managing Director
713-300-2010
|
Scott D. Winship
Managing Director
713-300-2011
|
|
|
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.
|
Securities offered through GulfStar Group I, Ltd. an affiliated entity, member FINRA - SIPC. BrokerCheck.
|
|
|
|
|
