Value is typically expressed as a simple multiple of EBITDA (earnings before interest, taxes, depreciation and amortization). We have written a lot about EBITDA and how best to position it, but for this Insights, we shift our attention to the multiple and how owners can drive valuation higher. A Starting Point: To determine value,...Read More
Ramsey Goodrich and Terry Hannafin represented CMG at the 2024 M&A East conference, hosted by ACG Philadelphia, where over 1,000 private equity groups, investment banks, and lenders gathered to discuss deal flow, market trends, and the future of M&A. After numerous conversations with fellow attendees, we distilled several key insights that reflect the current state...Read More
Click here to download our Fall 2024 HVAC M&A Sector Update PDF Still Looking for the Long-Anticipated Recovery The expected rebound in US middle market M&A in 2024 has been slower than many observers, including ourselves, anticipated. Even as financial conditions have generally improved, previous inflation and monetary policy concerns matched with current regulatory and...Read More
Chris Reenock, Managing Director and the Industry Lead for HVAC and Geoff Bradley, Vice President at Carter Morse & Goodrich, recently attended the Emerging Leaders Conference, hosted by HARDI (Heating, Air-conditioning & Refrigeration Distributors International). CMG is proud to be an active member in this special industry association. Held over three days in Boston, MA,...Read More
CMG’s Managing Partner, Ramsey Goodrich, was honored to be a guest speaker for the Financial Executive Networking Group (FENG) discussing “Thinking about a sale? Ride the coming tidal wave of deals” hosted by Bruce Lynn. Topics covered during the webinar: – Current state of the Middle-Market M&A markets and outlook for the future – How...Read More
EBITDA – Earnings Before Interest, Taxes, Depreciation, and Amortization For better or worse has become a standard measurement of operating cash flow by which one can easily compare different companies. While most public companies quote value as a price / earnings ratio or look at net income per share, private companies use EBITDA as the...Read More
My partner, Terry Hannafin, and I attended the DealMAX conference last week, hosted by the Association for Corporate Growth at the Aria in Las Vegas. It was an incredible event with 3200 professionals from the M&A industry, and we had numerous meetings with potential private equity partners, strategic buyers, and deal professionals worldwide. Here are...Read More
Often, business owners who have made the decision to sell their business tend to disengage from it. Many opt for the path of least resistance, focus on minimizing expenses and prioritize speed over results. They almost always end up disappointed with the outcome. That is why we advocate for a disciplined planning and preparation process...Read More
Click here to download our 2024 HVAC M&A Sector Update PDF Middle Market M&A Update Despite our optimistic prognostications, the eagerly awaited rebound in general M&A activity for the middle-market did not materialize as expected in the fourth quarter of 2023. Business owners were still focused on closing out the year to hit budgets and navigating...Read More
Hiring the right investment bank is critical to the success of your transaction. The right one should prepare the owners and management team, and design a process that maximizes value, ensures business operations remain fully functional and helps owners meet their objectives. I need an industry expert For certain market segments (such as software, healthcare,...Read More
Nulla vitae elit libero, a pharetra augue. Nulla vitae elit libero, a pharetra augue. Nulla vitae elit libero, a pharetra augue. Donec sed odio dui. Etiam porta sem malesuada.
