Middle Market M & A (eBook)

KENNETH H. MARKS is Founder and Managing Partner of High Rock Partners, a boutique firm of strategic and M&A advisors. He is an expert in mergers, acquisitions, and financing of emerging growth and middle market companies. CHRISTIAN W. BLEES is President and CEO of BiggsKofford Certified Public Accountants and BiggsKofford Capital Investment Bank. He is the lead instructor of the Certified Merger & Acquisition Advisor (CM&AA) credentialing program. MICHAEL R. NALL is Founder of Alliance of Merger & Acquisition Advisors and a recognized speaker on the valuation, growth, and sale of middle market companies. THOMAS A. STEWART served as Executive Director of the National Center for the Middle Market, and Editor-in-Chief and Managing Director of Harvard Business Review.

Preface

Acknowledgements

Part One - Middle Market Overview

C1 The Middle Market

C2 Private Capital Markets

C3 Valuation Perspectives

Part Two - For the Business Owner / Operator and Entrepreneur

C4 Transition, Succession and Exit Planning

C5 Value Growth and Optimization

Part Three - The M&A Practice and Processes

C6 Practice Management

C7 Sell-Side Representation and Process

C8 Corporate Development and the Buy-Side Process

C9 Buy-Side Representation

C10 Technology in the M&A Process

C11 Professional Standards and Ethics

Part Four - M&A Technical Discussions

C12 Financial Analysis

C13 Market Valuation

C14 Deal Structure

C15 Financing Sources and Capital Structure

C16 Due Diligence

C17 Tax Provisions Used in M&A

C18 Legal Documentation

C19 Regulation and Compliance

C20 Cross Border Considerations

Glossary

About the Authors

About the Contributors and Reviewers

Index

"Understanding how private businesses access capital for growth and successful owner transition is one of the most critical and least understood parts of the small and medium-sized business economy. This second edition of Middle Market M&A is a must read for anyone who needs to master the ever-evolving dynamics of the private capital marketplace. There is no better reference book for equity investors, private company owners and the advisors that unite them."

--BRETT PALMER, President Small Business Investor Alliance (SBIA)

"Often overlooked or discussed only as an afterthought, Marks and his co-authors have focused on an increasingly important part of the vibrant M&A market -- the so-called 'middle market' where indeed the most deals take place. This market is huge as are the implications for buyers of mid-sized companies, their founders and sellers, the myriad advisors, investors and business school students. This book should be on the bookshelf of every one of those groups. This handbook provides not just an overview of the necessary elements for success in mid-market dealmaking, but is a rigorous and, importantly, up-to-date compendium of the broad range of issues that anyone dealing in this market will encounter."

--SCOTT MOELLER, Director, M&A Research Centre; Professor, University of London