Investment Banking

Watermark Wire

In the Watermark Wire, we offer M&A news with details on the latest transactions in your industry, analysis of valuation trends and highlights on both successful and failed companies. All of our newsletters are designed to provide information for the world of business that relates to developing strong, healthy companies.

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The Unrecognized Downside of M&A Success Fees

Unfortunately, one downside of M&A advisory success fees is that while it ensures that the transaction advisor gets paid “fairly,” the acquirer does not necessarily benefit proportionately. The matter not taken into consideration is that acquirers often struggle to capture a return on investment from acquisition transactions above a hurdle rate. Numerous studies have analyzed…

May 2019 Six Month M&A Transaction Report

We’ve compiled six months of data on the top recent M&A transactions in the Southeast and in the US. For the first time, we’ve also including data on major canceled M&A transactions. Table of Contents Southeast Transactions Major US Transactions Major Canceled Transactions About Watermark Advisors Southeast Transactions M&A Closed Date Buyers/Investors Primary Industry [Buyers/Investors]…

M&A Wire: This Missing Ingredient in Your ‘Recipe to Sell’ Can Literally Cost You Millions

When a business owner desires to sell a company for top dollar, (s)he needs to understand the importance of having future growth plans for the business. One factor that can boost growth is if the business operates in a high growth industry where the compound annual growth rate (“CAGR”) is 10% or more. Examples of…

The #1 Discipline for Strategic Acquirers

Companies seeking to succeed at making profitable acquisitions need to plan for the reality that while most deals take less than a year to transact, becoming deal ready takes years. Companies that are well prepared will have a much higher success record and achieve better return on investment. Whether you have plans to acquire a…

How Long Does M&A Preparedness Take?

Earlier this year, The National Center for the Middle Market at Ohio State published a report titled “Middle-Market M&A – What Executives and Advisors Need to Know in Order to Make the Most of Mergers and Acquisitions.” Participants in the study included 400 executives of middle market companies (with annual revenues from $10MM – $1Bn)…

The WIRE: 50 Acquisitions, 26 Sales & 75 Private Placement Deals You Need to Know

What’s in this Issue Summer has just begun but it is already hot here in the Southeast! What has also been hot so far in 2018 is the M&A marketplace across the United States. In this issue, we update readers on the state of M&A and private placements so far in 2018 in the Carolinas,…

Stock Value Plunges 26% After Extreme Networks Fumbles Acquisition

On May 9, 2018, Extreme Networks (NasdaqGS: EXTR), a San Jose, California based networking company, saw a 26% drop in its stock after it released 3Q’18 earnings (for period ending March 31, 2018) the previous evening. In the earnings release, there was a 23.81% downward earnings adjustment. This included a $1MM surprise revenue adjustment tied…

Amazon Expands Front Door Presence

On April 12, 2018, Amazon.com, Inc. completed the acquisition of Ring, Inc. for $998.89MM in an all-cash deal. Ring Inc. was incorporated in 2013 and is based in Santa Monica, California. Ring Inc. manufactures video doorbells for homes. Its video doorbell lets users answer from anywhere in the world using Smartphone and Android devices. It…

The Wire: A Closer Look at M&A in Chemicals and Materials, Manufacturing, and Distribution

What’s in this Issue For 2018, we’re focusing the Watermark Wire on industries where we have seen the most momentum in recent years: Chemicals & Materials, Manufacturing and Distribution. With each industry, we’re selecting a leader and sharing the strategies behind their current success story. In this issue, we’ve also compared and contrasted the recent…

Q2 2017 Southeast Acquisition Report

Southeast Acquirers Active in Q2’17 Transactions Q2 2017 saw a total of 154 closed M&A transactions of Carolinas and Georgia headquartered companies, totaling $9.1Bn in deal value. Of the closed deals, three were greater than $1Bn, two were between $500-$1Bn, seven were between $100MM-$500MM, 36 were less than $100MM, and the majority of these deals…

An Interview with Robert F. Bruner: Author of Deals from Hell and Applied Mergers and Acquisitions

Bob Bruner is a University Professor at the University of Virginia, Distinguished Professor of Business Administration and Dean Emeritus of the Darden School of Business.  He is the author, co-author or editor of more than 20 books on finance, management and teaching.  As a financial economist, Bruner is best known for his research on mergers…

Q2 2017 Private Placement Report

Q2’17 saw a total of 91 successfully closed private placement capital raises, totaling just over $940.3 MM, across North Carolina, South Carolina, and Georgia. Across all three states, the Information Technology sector led the way in terms of total deal value with 27 capital raises, totaling $501MM. Q2 2017 Capital Raises by Sector: NC, SC…

Inside Venture Capital

Many entrepreneurial companies seek to become backed by venture capital (VC) because such backing signals strong buy-in from a large investor asset class who believes in the company’s business model. Venture capital also helps a company grow. But, as many know, the venture capital community is tight-knit. For companies seeking VC for the first time,…

The Significance of Hurdle Rates, Cost of Capital and Valuations for Those Exiting Business Ownership

M&A is a complicated process requiring unique skills and difficult decision-making.  According to the 2017 Private Capital Markets Report, (produced by Pepperdine’s Graziadio School of Business in January 2017 and covered the deal making market over the previous 12 months) 35% of all 2016 sell-side M&A transactions did not close.  The number one reason, explaining…

Q2 2017 M&A Market Report

Table of Contents Historical M&A Transactions Market Summary Nationwide Disclosed M&A Transactions Southeast Disclosed Transactions Southeast Transactions by Industry Consumer Discretionary Healthcare Industrials Information Technology Materials Historical M&A Transactions In 2017, US M&A deal volume is expected to reach its highest level since its last cyclical peak in 2007. However, total closed M&A deals, measured…

A Closer Look at the Southeast Q1 2017 Private Placement Market

Q1 2017 saw a total of 105 successfully closed private placement capital raises, totaling just over $817MM, across North Carolina, South Carolina, and Georgia. Across all three states, the Information Technology sector led the way with 35 capital raises, totaling $337.19MM, in Q1 2017.

The Difficulty in Raising Equity Capital in the Southeast—yet Solutions Exist

At the 5th annual DIG South Innovation Conference in late April 2017, a host of young, hopeful companies presented promising business concepts to many different classes of investors. The investors were themselves hoping to run into avant-garde opportunities. In one session, “Investing in the South – The Current State of Deal Flow Around the Region,”…

Q1 2017 Nationwide M&A Market Report

We’ve compiled all of the data on Q1 2017 nationwide M&A transactions. Read the report.

Why So Many Sellers Have Regret Following a Transaction

Business owners who sell their companies often end up regretting their transaction. PriceWaterhouseCoopers conducted a survey with business owners who had previously exited. The results of their survey proved that 12 months after selling, 3 out of 4 business owners surveyed “profoundly regretted” the decision to sell. This Wire delves into a major reason for…

The Two Most Critical Business Attributes When Selling A Company

To receive strong market interest from acquirers, financial results and momentum are critical when selling a company. Watch a video with Investment Banker Hagen Rogers discussing these key areas with a South Carolina businessman who recently sold his company. Are you interested in learning more about preparing your business for a sale? Contact Us to...

Trying To Raise Capital For Your Business Venture? It Pays To Know The Rules.

The business world is more competitive than ever. That’s especially true for entrepreneurs and privately owned businesses. Success depends on a number of factors, not the least of which is raising money and securing investors. What exactly is the best way to capitalize your business for desired growth and scale? On the subject of fundraising,…

Why Do Acquirers Fail In Capturing Roi With M&A?

Failure in mergers and acquisitions (M&A) is pervasive. There are many contributing factors, but according to a survey conducted by Watermark Advisors, the three most common reasons for this are: (1) cultural issues leading to the loss of key people from the target, (2) overpaying for target, and (3) integration issues. Let’s take a closer…

Why Do Acquirers Overpay For Targets?

The challenge that acquirers have in being successful in mergers and acquisitions (M&A) is significant. There are many contributing factors, but according to a survey conducted by Watermark Advisors, the three most common reasons for this are: (1) cultural issues leading to the loss of key people from the target, (2) integration issues, and (3)…

Are Business Valuations Actually Valuable?

According to the 2016 Private Markets Report published by Pepperdine University, over the past year, approximately 35% of deals terminated without transacting. The number one reason (40%) was that the buyer and seller could not agree on pricing.

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