private equity – Open MRTD http://openmrtd.org/ Sat, 05 Mar 2022 20:08:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://openmrtd.org/wp-content/uploads/2022/01/icon-2022-01-31T171458.103-150x150.png private equity – Open MRTD http://openmrtd.org/ 32 32 Improving Acquires Google Cloud Application Consultancy YoppWorks; Scales up to $200 million in revenue https://openmrtd.org/improving-acquires-google-cloud-application-consultancy-yoppworks-scales-up-to-200-million-in-revenue/ Sat, 05 Mar 2022 08:28:53 +0000 https://openmrtd.org/improving-acquires-google-cloud-application-consultancy-yoppworks-scales-up-to-200-million-in-revenue/ by Joe Panettieri • March 4, 2022 Digital services firm Improving, backed by private equity firm Trinity Hunt Partners, has acquired YoppWorks, an app development consultancy with expertise in Google Cloud and Lightbend. Financial terms of the deal were not disclosed. The deal is expected to push Improving’s annual revenue above the $200 million mark, […]]]>

Digital services firm Improving, backed by private equity firm Trinity Hunt Partners, has acquired YoppWorks, an app development consultancy with expertise in Google Cloud and Lightbend. Financial terms of the deal were not disclosed.

The deal is expected to push Improving’s annual revenue above the $200 million mark, the buyer said.

Curtis Hite, CEO, Improve

This is the number 236 technology M&A deal that ChannelE2E has covered so far in 2022. Discover over 1,000 technology M&A deals involving MSPs, MSSPs and IT service providers listed here.

In this particular offer:

  • The buyer: Improving has over 1,000 employees listed on LinkedIn. The company positions itself as a “comprehensive IT services company, offering training, consulting, recruitment and project services”.
  • Seller: YoppWorks has 90 employees listed on LinkedIn. The company positions itself as a consulting organization that “helps companies rethink the way they build software to stay competitive, relevant, and capitalize on market opportunities.” Key areas of expertise include Scala programming language, Akka Open Source toolkit, containerized native cloud environments and applying reactive architecture, the vendor says.

Improving M&A: Past acquisitions of IT services and technology consulting

Meanwhile, private equity firm Trinity Hunt Partners has owned Improving since July 2018. For its part, Improving has a track record in mergers and acquisitions dating back to 2007. Sample deals:

  • August 2021: Tahoe Partners, a Microsoft professional services firm, in August 2021. This particular deal pushed Improving’s annual revenue to around $185 million.
  • August 2020: Object Partners, an Amazon Web Services custom software developer. This deal brought annual revenue to $150 million.
  • August 2017: ProSource Solutions, a Microsoft partner that was expected to increase Improving’s annual revenue by more than $10 million in 2018.
  • August 2017: The Willow Band from Minneapolis, Minnesota.
  • December 2013: Quadras Development of Calgary, Canada.
  • September 2012: Alphaware Training Center in Houston, TX.
  • December 2010: The Sophic Group, a Microsoft partner in Columbus, Ohio.
  • January 2007: Blue Ocean Group and Improving Enterprises merged.

Improving Acquires YoppWorks: Management Insights

In a prepared statement on the YoppWorks deal, Improving CEO Curtis Hite said:

“We have always been impressed with the YoppWorks team and their commitment to delivering innovation to their customers. There is incredible alignment between our two companies on corporate philosophy and corporate culture, and we couldn’t be more enthusiastic about integrating them into the Improving brand.

Jack Gulas, CEO of YoppWorks, added:

“This is a very exciting announcement. We have experienced phenomenal growth over the past year and joining the Improving team will provide us with the structure to continue to evolve our business and provide our clients with new product offerings. The improvement culture is amazing and very similar to YoppWorks and I see it as a 1+1=3 for all of our team members and our customers.

Trinity Hunt Partners: Cloud Consulting, MSP Investments

The owner of Improving, private equity firm Trinity Hunt Partners, has extensive experience in and around the IT consulting and MSP (managed IT service provider) markets. Example investment activity in Trinity Hunt includes transactions such as…

It is a safe beet, more details to come. Indeed, Trinity Hunt Partners raised $460 million for Fund VI in September 2021. This fund will focus on small-cap companies in the business, healthcare and consumer services sectors, Trinity Hunt said.

Trinity Hunt Partners: acquisitions targeted by private equity

Generally, Trinity Hunt Partners targets U.S. companies with annual EBITDA (earnings before interest, taxes, depreciation and amortization) between $4 million and $25 million, the company’s website says.

When Trinity Hunt Partners finds an ideal target, the private equity firm typically invests between $15 million and $50 million in each portfolio company – with the option to invest additional equity through limited partner co-investment, adds the company website.

The types of transactions typically involve significant majority and minority recapitalizations, buyouts and management buyouts, the private equity firm notes.

]]>
Kroll Corporate Finance advised Classic Design on its sale to a portfolio company of Crestview Partners https://openmrtd.org/kroll-corporate-finance-advised-classic-design-on-its-sale-to-a-portfolio-company-of-crestview-partners/ Fri, 04 Mar 2022 11:47:48 +0000 https://openmrtd.org/kroll-corporate-finance-advised-classic-design-on-its-sale-to-a-portfolio-company-of-crestview-partners/ On March 1, 2022, Crestview Partners (“Crestview”), a leading private equity firm, announced that its recently created automation solutions platform had completed the acquisition of Classic Design (“Classic” or the “ Company”), a Troy, Michigan provider of automation design and systems integration. Following the acquisition of JMP Solutions, Inc. (“JMP”) in August 2021, Classic is […]]]>

On March 1, 2022, Crestview Partners (“Crestview”), a leading private equity firm, announced that its recently created automation solutions platform had completed the acquisition of Classic Design (“Classic” or the “ Company”), a Troy, Michigan provider of automation design and systems integration. Following the acquisition of JMP Solutions, Inc. (“JMP”) in August 2021, Classic is the second acquisition as part of Crestview’s strategy to create a market-leading global automation solutions provider.

Kroll’s Business Services M&A Advisory acted as exclusive financial advisor to Classic Design on the transaction.

About Classic Design
Founded in 1974, Classic is an end-to-end designer, developer and integrator of custom automation solutions for automotive and defense customers. Headquartered in Troy, Michigan, with a global footprint in the United States and India and a strong heritage of engineering excellence, Classic is an established and innovative partner capable of delivering custom solutions across diverse systems and applications. Hall Render LP served as legal counsel to Classic. The Doescher Group provided additional support to company management in connection with the transaction.

About JMP Solutions, Inc.
Founded in 1987, JMP is an automation systems integrator providing solutions to various industrial and consumer end markets. It designs, engineers and integrates hardware and software to automate its customers’ manufacturing, production and distribution facilities. Headquartered in London, Ontario, with an established North American footprint consisting of 15 offices in the United States and Canada, JMP’s multi-geographic branch model gives it a strategic advantage over smaller sub-regional competitors, enabling it to provide focused, local support while growing with its best-in-class customer base across geographies and applications.

About Crestview Partners
Founded in 2004, Crestview is a value-oriented, middle-market focused private equity firm. The firm is based in New York and manages funds with approximately $10 billion in total capital commitments. The company is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has seasoned investment professionals who focus on investment research and management in each of the firm’s specialty areas: industrials, media and financial services.

]]>
Investor Relations Week: Pledge on ESG Divestment, Himalayan Yogi Indian Stock Exchange Scandal and JPMorgan Enter Metaverse https://openmrtd.org/investor-relations-week-pledge-on-esg-divestment-himalayan-yogi-indian-stock-exchange-scandal-and-jpmorgan-enter-metaverse/ Fri, 18 Feb 2022 11:51:47 +0000 https://openmrtd.org/investor-relations-week-pledge-on-esg-divestment-himalayan-yogi-indian-stock-exchange-scandal-and-jpmorgan-enter-metaverse/ – “We believe that active involvement and engagement with portfolio companies, rather than adopting a divestment strategy or avoiding the asset class, actually leads to better returns in terms of investor protection” , John Galloway, Global Head of Investment Management at Vanguard Group, Told S&P Global Market Intelligence this week. “We see the value of […]]]>

“We believe that active involvement and engagement with portfolio companies, rather than adopting a divestment strategy or avoiding the asset class, actually leads to better returns in terms of investor protection” , John Galloway, Global Head of Investment Management at Vanguard Group, Told S&P Global Market Intelligence this week. “We see the value of continued engagement in terms of the progress companies make over time in response to us and other investors.” Speaking of the green transition, Galloway said the complexity of moving to a low-carbon economy “makes us confident that our approach of remaining invested and actively engaged with these companies will lead to better outcomes.”

Reuters reported a case of “bizarre misconduct” which constituted a “flagrant violation” of Indian National Stock Exchange regulations. Chitra Ramkrishna, the former head of India’s biggest stock exchange, shared confidential information with a yogi and asked his opinion on crucial decisions, a market regulator investigation has revealed, ahead of the stock exchange’s long-awaited public listing . Ramkrishna shared information – including financial projections, business plans and the stock exchange’s board agenda – with an alleged spiritual guru from the Himalayas, the Securities and Exchange Board of India.

Coindesk reported that JPMorgan, the largest bank in the United States, has become the first lender to arrive in the metaverse, after opening a lounge in Decentraland, a virtual world based on blockchain technology. Along with the unveiling of the Onyx trade show (Coinbase said the name refers to the bank’s Ethereum-based suite of licensed services), JPMorgan published an article exploring how businesses can find opportunities in the metaverse.

In other Metaverse news, CNBC reported that “metaverse ETFs are booming” in South Korea, with retail investors “stacking” and buying into funds focused on the new frontier of technology. South Korea’s first four metaverse ETFs were launched in October and attracted $100 million in just under two weeks, according to Rahul Sen Sharma, managing partner at index provider Indxx. As of Jan. 19, eight metaverse ETFs were listed in South Korea, attracting more than $1 billion in inflows, according to data from Samsung Asset Management, which launched two of the ETFs. CNBC said that of that amount, more than $800 million was invested in four equity-focused ETFs tied to the South Korean metaverse, while more than $338 million was funneled into more global metaverse ETFs, according to the data.

– According to FinancialTimes (paywall), Tesla has accused the SEC of going ‘beyond pallor’ and harassing its chief executive Elon Musk for his compliance with a 2018 agreement over his use of social media – something the newspaper describes as “the latest salvo in a long dispute between Musk and the US stock market regulator”. Earlier this month, the electric car maker revealed that it had been subpoenaed by the SEC over its compliance with the settlement, part of which required a company lawyer to pre-approve any tweets from Musk containing “important” information. The SEC had requested information on “governance processes around compliance” with the order.

The Wall Street Journal (paywall) noted that most public companies report the value of their assets, accounts receivable and inventory, but not human capital, while investors want employers to consistently report specific data points using standardized measures in order to be able to compare one company with another. A growing number of large companies are including workforce statistics in their annual sustainability reports, but the data is not standardized. Almost none quantify this information in quarterly or annual financial statements.

Some fund managers use big data, scouring websites such as Glassdoor and LinkedIn to estimate workforce trends at the companies they cover. Others reiterate longstanding calls for regulations that would require companies to report employee data, including compensation, training, job satisfaction, demographics, and hiring and promotion rates.

CalPERS is a leader in the campaign for mandatory reporting. The pandemic has highlighted just how critical human capital risks are for companies and their investors, a CalPERS spokesperson said. The SEC is expected to unveil a rule in the coming months that would require the disclosure of standardized human capital data.

Institutional investor reported that about half of US allocaters plan to increase their investments in hedge funds in 2022, according to the latest report from the Alternative Investment Management Association (Aima). In December, the group surveyed 224 dispatchers across the country, including 49% working in foundations and endowments, 15% in public pensions and 11% in family offices. While private equity remains the top choice for investors, Aima found that hedge funds have started to attract attention again.

CNN said that according to a report by a group of 28 non-governmental organizations, financial institutions funneled more than $1.5 billion into the coal industry in the form of loans and subscriptions from January 2019 to November 2021, while even many made zero net promises. Reducing coal use is a key part of efforts to reduce greenhouse gases and get emissions to net zero by mid-century, and governments, businesses and financial institutions are are committed to action. But the research found that banks continue to fund 1,032 companies involved in coal mining, trading, transportation and use. The study says banks in six countries – China, the US, Japan, India, the UK and Canada – were responsible for 86% of global coal financing during the period.

– The Financial Stability Board (FSB) said policymakers must act quickly in crafting rules covering the digital asset market, given its closer connection to the traditional financial system, the FT reported. “There is clearly a higher degree of urgency,” said Klaas Knot, the Dutch central bank governor who became FSB chairman in December, describing how the board had previously been “comfortable” saying that there was no material crypto risk due to its size and lack of connectivity to traditional financial markets.

So far, global regulators have greeted crypto with a patchwork of measures, including a tough crackdown in China, and UK efforts to restrict crypto advertisements and register crypto firms for money laundering. and counter-terrorism compliance. The FSB also warned that big banks and other systemically important financial institutions were “increasingly willing” to expose themselves to crypto and pointed out that global stablecoins pose particular risks to financial stability.

– According to an assessment approved by China’s cyberspace regulator and reported by South China Morning Post. The finding, included in “expert opinions” the Cyberspace Administration of China has posted on its website, shows how the regulator is shaping up to be a key guardian of overseas listings, even as the new law, which came into effect this week, does not specifically mention Hong Kong, the newspaper said.

Questions remain over whether or not mainland businesses seeking to register in Hong Kong need to apply for a cybersecurity review. The document stresses that Hong Kong is not a “foreign market”, but is run as a separate legal system under the “one country, two systems” framework.

]]>
Multi-faceted business education leads to a career in investor relations https://openmrtd.org/multi-faceted-business-education-leads-to-a-career-in-investor-relations/ Thu, 10 Feb 2022 21:17:23 +0000 https://openmrtd.org/multi-faceted-business-education-leads-to-a-career-in-investor-relations/ As managing director of investor relations and business development at WestCap, a private equity growth technology startup, Jennifer Wilcox (née Ricciardi) draws on her graduate studies in economics at Fordham to create strategic partnerships with its customers. “What I love most about my role is educating people,” says Wilcox, who earned a master’s degree from […]]]>

As managing director of investor relations and business development at WestCap, a private equity growth technology startup, Jennifer Wilcox (née Ricciardi) draws on her graduate studies in economics at Fordham to create strategic partnerships with its customers.

“What I love most about my role is educating people,” says Wilcox, who earned a master’s degree from the Graduate School of Arts and Sciences in 2005. “I take concepts from very complicated investments and I make them understandable for our investors, by educating on our strategies, our perspectives on the markets and the impact of the markets on our sector and our investments.

Fordham’s impact at every stage of the career path

After earning a bachelor’s degree in economics and Spanish studies from Fordham College at Rose Hill in 1997, Wilcox joined the Federal Reserve Bank of New York as an analyst – an opportunity she seized when a Fed recruiter went to campus. In 2000, she landed another job at a Fordham event, this time as an analyst in Societe Generale’s investment banking unit, Cowen, thanks to an alumni networking night.

Two years later, Wilcox took stock of his career options, feeling somewhat conflicted over whether to stay on the finance side or focus on economic policy. She contacted one of her old Fordham teachers, Darryl McLeod, Ph.D., to ask about the master’s program in economics, and he encouraged her to apply. At the same time, Wilcox also started a job at a hedge fund, Ore Hill Partners. While working full-time as an analyst, she completed her education at the Graduate School of Arts and Sciences, supplementing her economics coursework with finance electives at Fordham’s Gabelli School of Business.

This combination set the stage for Wilcox to move into investor relations, a role that requires a deep understanding of investment strategies and a high degree of marketing skills. In 2009, she obtained such a position at GSO Capital Partners (now Blackstone Credit), the credit investment arm of the Blackstone Group.

“I knew about marketing and investor relations because I worked at a hedge fund on the investment side,” says Wilcox, “but Blackstone recruited me because they liked my financial experience and I could talk to investors about investments. that the company was doing in an educated way.

“The theoretical courses that I took throughout my master’s degree provided a solid foundation for understanding the drivers of markets from a macro perspective and the decisions companies make to manage their businesses from a macro perspective. mic,” she adds.

Now with WestCap since September 2021, Wilcox brings all of his experience to help the startup grow by establishing investor relations best practices, expanding the company’s institutional investor base, and crafting business development strategies. .

The importance of networking and mentoring

In addition to his successful career, Wilcox also serves as a mentor to alumni through Fordham’s Alumni Relations Office, helping current students write their CVs, providing career advice and guiding them through the processes. networking and job interviews.

This desire to help others is something Wilcox demonstrated as a student, when she volunteered as a mentor at local schools in the Bronx. In fact, she says that along with access to internships in New York, the opportunity to engage with the nearby community was one of the things that first attracted her to Fordham as a student of first cycle.

“All of these volunteer opportunities that were offered and being in such a diverse community…was a very influential part of my experience,” says Wilcox.

She also found a strong sense of community on campus, where she made strong friendships in addition to gaining professional skills and knowledge. When talking to current students, Wilcox tells them her best advice is to network with alumni, faculty, and other students.

“Be persistent and don’t let those ties fade,” she says. “Fordham has an extremely strong alumni network who are ready to help others further their careers. Along with the knowledge gained during your studies, this is the most important aspect of going to graduate school. , regardless of career path.

]]>
“Use company income and dividends against the high bill” – Corriere.it https://openmrtd.org/use-company-income-and-dividends-against-the-high-bill-corriere-it/ Sat, 05 Feb 2022 04:49:46 +0000 https://openmrtd.org/use-company-income-and-dividends-against-the-high-bill-corriere-it/ from Maurizio Giannattasio The opposition asks to use the 210 million and the dividends that the multi-services pays each year to the municipality to intervene on the high bill. Palazzo Marino’s response: “No prejudice, but that would amount to cutting essential services for the city” A2A’s historic headquarters in Corso di Porta Vittoria changes hands. […]]]>
from Maurizio Giannattasio

The opposition asks to use the 210 million and the dividends that the multi-services pays each year to the municipality to intervene on the high bill. Palazzo Marino’s response: “No prejudice, but that would amount to cutting essential services for the city”

A2A’s historic headquarters in Corso di Porta Vittoria changes hands. While waiting to transfer employees to the new skyscraper in Piazza Trento in 2025, the multi-services company earns cash by selling to the Henderson Park fund, a London-based private equity group, also two other assets. The first via Balduccio da Pisa, the second via Gonin. Total transaction: 221 million euros.

The stone in the pond

End of the first half. The second opens with Brothers from Italy that following what the centre-right did in Brescia decides to present a agenda in which A2A is asked to use part of these revenues to calm the increase in electricity and gas bills. And the same for the dividends paid into the coffers of the Palazzo Marino: 62.5 million euros. An operation that the executive of the Palazzo Marino does not approve for reasons of merit: because subtracting dividends to distribute them on the bills would amount to subtracting resources from essential services for the city and for the weakest groups. To throw the stone in the pond, it is Daniela Santanché, regional coordinator of FdI with the adviser Enrico Marcora who will materially present the agenda. “The Municipality could make part of the dividends from A2A available to families and businesses”, specifies Santanché. Marcora goes further: “I remember that Aem was founded in 2010 to counter Edison’s monopoly and allow Milanese to save money. It did the same after the war by investing in the power stations of Valtellina. The company has always responded to the needs of citizens. Today, another cry of alarm. The Municipality makes A2A dividends available to calm the bills of small and medium-sized businesses and sports centers that are suffering the most. And do the same with the money from the sale of the buildings”. The League had done the same with Pietro Marrapodi asking to use 15% of the dividends. AND Forza Italia also signs.

Marine Palace

The answer comes from the budget adviser, Emmanuel Conte. “We are all aware of the importance of the issue for families and businesses. There is no ideological prejudice, but the real question to ask would be another. Faced with missed dividends, what services should I cut since A2A money is a non-binding income that is used to finance all current expenses, social assistance, public transport, urban sanitation? Who should be kicked out of the tower? ‘ Especially at a time like this, when the pandemic inevitably affects municipal accounts. “We are working on the 2022-24 budget and the balance is not there yet. The government has rightly recognized the difficulty of the cities by doubling the transfers in 2020 and 2021 to reach one billion euros, as well as by providing for one billion in the Sostegni ter decree to calm the bill for the first quarter of companies and families. It is right that it is so because the theme is national and must concern everyone”. But what would it mean to spread A2A dividends on the Milanese’s bills? If it were 15% as requested by the League, that would mean 15 euros more per year and per family. If they were all 62 million, 100 euros. One tenth of the expected increase. The leader of the Democratic Party, Filippo Barberis, also spoke: “We must intervene in a way that is complementary to the government and not overlapping, because the risk is to throw away or steal money for fundamental interventions for citizens. . Moreover, it would not distinguish between those who have income difficulties or not. We continue to work on the deferral of payments, the maxi-maturities and the transfer”.

A2A

Finally, the proceeds from the sale of the head office. A2A responds: “The sale of part of the Milanese properties held by A2A is part of the broader activities of asset turnover
, already foreseen in the strategic plan presented last year. The resources recovered will be used for the construction of the group’s new headquarters in Piazza Trento, for the improvement of other properties in Milan and will contribute to the financing of the ambitious 18 billion investment plan planned for the coming years”.

If you want to stay up to date with news from Milan and Lombardy, subscribe to the Corriere Milano newsletter for free. It arrives every Saturday in your mailbox at 7am. Enough
Click here.

February 4, 2022 (change February 4, 2022 | 08:40)

]]>
Investor relations week: Liquidity dries up, bankers’ money hits the headlines and hedge funds turn to Russia and Ukraine https://openmrtd.org/investor-relations-week-liquidity-dries-up-bankers-money-hits-the-headlines-and-hedge-funds-turn-to-russia-and-ukraine/ Fri, 04 Feb 2022 12:36:45 +0000 https://openmrtd.org/investor-relations-week-liquidity-dries-up-bankers-money-hits-the-headlines-and-hedge-funds-turn-to-russia-and-ukraine/ – “Liquidity has been a feature of the $51 billion U.S. stock market,” noted the FinancialTimes (paywall), “but over the past two weeks fund managers have watched its deterioration as costs rise to make large buys or sells, prompting some to avoid making big trades altogether.” The document reports that the “huge swings” in US […]]]>

– “Liquidity has been a feature of the $51 billion U.S. stock market,” noted the FinancialTimes (paywall), “but over the past two weeks fund managers have watched its deterioration as costs rise to make large buys or sells, prompting some to avoid making big trades altogether.” The document reports that the “huge swings” in US stocks such as Meta, PayPal and Snap reflect surprises in their financial results, but also highlight what investors say is a recent dramatic drop in the ability to trade large lots of shares. Stocks below Wall Street estimates plunged in value on a scale rarely seen outside of a crisis, the paper said.

– Banker salaries made headlines this week as Bloomberg (paywall) reported that big bonuses are back, with yachts and champagne back on the bill. eFinancialNews says $500,000 is the new $400,000 for CEO salaries at banks and the FT describes how Credit Suisse changed bonus rules in an effort to retain top executives. Credit Suisse has warned senior bankers they will have to give up part of their cash bonus if they leave within three years, the newspaper said, describing the move as “a controversial step designed to retain staff as the lender is struggling to recover from a series of crises”. .’

– The FT reported that hedge funds are “recovering” Russian and Ukrainian assets after steep declines since last fall, while institutional investors are “staying on the sidelines”. The newspaper said the institutions see heightened political risks as “too hot to handle”. Many large investors have become increasingly nervous about the possibility of military conflict in Eastern Europe. The specter of war or Western sanctions against Russia has made financial assets in the region “too difficult to hold” for some large traditional managers, the paper notes, although it adds that some hedge funds are “plunging on the market” looking for bargains. , believing that while Russian President Vladimir Putin is unlikely to back down soon, he will not want to risk a significant conflict. The newspaper quotes David Amaryan, founder of Balchug Capital, a global fund managed from Moscow, saying: “We are absolutely convinced that there will be no war”.

– In a similar vein, the United States on Thursday warned Chinese companies that they would face consequences if they sought to evade any export controls imposed on Moscow in the event of an invasion of Ukraine by Russia. CNBC reported US State Department spokesman Ned Price making the remark after China’s Foreign Ministry said China and Russia had coordinated positions on Ukraine. “We have an array of tools that we can deploy if we see foreign companies, including those in China, doing their best to thwart US export control actions, evade them, circumvent them,” he said. Price during a regular press briefing.

– Rio Tinto this week released a full self-commissioned report into the treatment of its 47,000 employees worldwide, with the findings described as “deeply disturbing” by CEO Jakob Stausholm. According to CNN, the external review found that “bullying and sexism are systemic on Rio Tinto worksites, with almost half of those being bullied”. The company has promised to implement all of the report’s recommendations as it seeks to rebuild its reputation following the demolition of the Juukan Gorge caves in Western Australia in 2020, a move that ultimately forced the then CEO, Jean-Sebastien Jacques. Stausholm, the company’s former chief financial officer, took the top job, promising to “restore confidence”. the FT said it was “a report that should be read widely” and described it as a wake-up call for business.

– According to Wall StreetJnewspaper (paywall), US and European activist investors are targeting some of the UK’s largest public companies, taking advantage of falling share prices to push for corporate breakups and other changes. The flurry of activity shows how particularly ripe the UK market is for activist campaigns. The benchmark FTSE 100 index has a total market value of approximately $2.7 billion, making it one of the largest European indices and providing investors with a pool of large-cap candidates. At the same time, the market has become cheap due to problems with individual companies, a relative lack of high-growth technology companies and the economic fallout from Brexit.

“The opportunity to restructure companies and improve returns that have been weak in recent years makes the UK attractive to activist investors, private equity or other global investors,” said Sharon Bell, strategist European stocks at Goldman Sachs.

Reuters reported that Shell began trading with a single line of shares after the British oil company confirmed the assimilation of its A and B shares as part of plans to simplify its two-tier structure. The group, which dropped “Royal Dutch” from its name last month after moving its UK headquarters from the Netherlands, said its shares would begin trading on Euronext Amsterdam, the LSE and the NYSE. Shell, which held its first board meeting in London on December 31, introduced the two-class share structure in 2005 after a previous corporate overhaul.

– Alphabet, Google’s parent company, said its board approved plans for a 20-to-1 stock split, CNBC reported. The move comes a year and a half after Apple recently split its stock, giving away three shares for every share held. Alphabet intends to split the stock’s Class A, Class B and Class C shares, according to an income statement, although the change will require shareholder approval. Each shareholder at the close of business on July 1 will receive – on July 15 – 19 additional shares for each share of the same class of shares that he holds. In 2012, Google added Class C shares, which have no voting rights. The company already owned Class A shares, which carry one vote per share, and Class B shares, which are closely held by the founders and early investors and carry 10 votes.

– The “memestock” revolution “is largely filling the pockets of large financial companies”, according to WSJ. He reported that brokerages serving retail investors received a windfall last year for selling their clients’ order flow to e-commerce firms, even as the practice came under scrutiny. increasingly scrutiny from regulators. The top dozen U.S. brokerages earned $3.8 billion selling their clients’ stock and options orders last year, up 33% from 2020, according to news reports. data compiled by Bloomberg.

– Hong Kong hopes for a revival of the IPO after a disappointing second half last year, according to the South China Morning Post. He noted that “several companies have applied for a listing in Hong Kong just before the Lunar New Year holiday”, with companies betting that demand for initial public offerings will improve after a “dismal” January that did not saw only a handful of offers. The newspaper reports that BIEL Crystal, the world’s largest maker of smartphone screens and a company that counts Apple among its customers, is one of the companies to have filed for listing plans. This is the second time the company has submitted IPO plans, after its application expired last summer. At the time, Biel founder Yeung Kin-man said the company was aiming for around $2 billion.

Another notable IPO request comes from Trinity Acquisition Holdings, a special-purpose acquisition company co-sponsored by Li Ning, a former Chinese Olympic gymnast and chairman of the eponymous sportswear company, which already trades on the stock exchange. from Hong Kong.

]]>
Corporate Finance Associates Worldwide Documents Frenetic pace of mergers and acquisitions https://openmrtd.org/corporate-finance-associates-worldwide-documents-frenetic-pace-of-mergers-and-acquisitions/ Mon, 31 Jan 2022 22:03:26 +0000 https://openmrtd.org/corporate-finance-associates-worldwide-documents-frenetic-pace-of-mergers-and-acquisitions/ Analysts described the fourth quarter of 2021 as hot. Corporate Finance Associates Worldwide, a investment bank for the mid-market, released its M&A Report for the Technology Services Industry for the fourth quarter of 2021. Researchers analyzed the volume and overall value of M&A deals, providing data on the value of companies listed on the stock […]]]>

Analysts described the fourth quarter of 2021 as hot.

Corporate Finance Associates Worldwide, a investment bank for the mid-market, released its M&A Report for the Technology Services Industry for the fourth quarter of 2021. Researchers analyzed the volume and overall value of M&A deals, providing data on the value of companies listed on the stock exchange. They found an “extraordinarily high trading volume” and described the fourth quarter of 2021 as scorching hot.

Some of the most significant mergers and acquisitions included:

  • American Tower’s acquisition of data center operator Coresite for approximately $10.1 billion.
  • Acquisition by CDW of Sirius Computer Solutions for approximately $2.5 billion.
  • Acquisition of Trace3 by American Securities.
  • Databank acquired four data centers from data center operator CyrusOne for approximately $670 million.
  • Variant Equity acquired CompuCom from OfficeDepot for approximately $305 million.
  • Wipro acquired cybersecurity consultancy Edgile for $230 million.
  • Acquisition of CompuGain by Unisys for $87.3 million.
  • Merger of the Herjavec Group with the cybersecurity company Fishtech Group.
  • Japan-based Nomura Research Institute acquires cloud solutions provider Azure Core BTS.
  • The Carlyle Group acquires data center operator and hybrid cloud solutions provider Involta.
  • Quisitive acquired cloud solutions provider Azure Catapult Systems for $51.5 million.

The IT services industry followed the general trend with “a freeze in M&A activity when the pandemic shocked capital markets in the second quarter of 2020, followed by a robust rebound for a few quarters until a peak in fourth quarter of 2021,” the report said.

Cloud and Containers/Kubernetes

Analysts suggest that when private equity firms execute acquisitions with large companies, they reveal priorities and technologies that may reign supreme in the future. These technologies are often developed first for the US government. Several of the companies acquired in the cloud space in the fourth quarter strengthen the federal government.

  • European consultancy Capgemini has acquired Maryland-based VariQ, a AWS and Azure blue cloud solutions provider that serves the US government.
  • Montreal-based CGI has acquired Maryland-based Array Holding Company, an AWS and Azure partner that provides digital modernization services to the US Department of Defense.
  • Private equity firm Washington Harbor Partners has acquired suburban Washington DC-based AWS cloud solutions provider CollabraLink, a company that serves the US government.

Learn about other cloud acquisitions here.

cyber security

Channel Futures recently covered acquisitions made by Cerberus Cyber ​​Sentinel, 11:11, and Wipro, as well as Herjavec Group’s merger with Kansas City-based cybersecurity solutions provider Fishtech Group.

Other mergers and acquisitions that materialized in the last quarter include:

  • Globant has acquired Atix Labs, a professional services company that provides blockchain and crypto solutions in the United States and South America.
  • GoSecure, a Montreal-based managed detection and response (MDR) solutions provider, has acquired Covail, an Ohio-based cybersecurity solutions provider specializing in artificial intelligence, automation and machine learning.
  • IBM acquired Dutch company ReaQta, a threat detection and response platform.
  • Kroll has acquired Security Compass Advisory, a Toronto-based enterprise cybersecurity advisory firm specializing in Azure and AWS.
  • Chicago-based managed services and professional services firm netrix acquired Philadelphia-based cybersecurity solutions provider BTB Security.
  • Japanese company Itochu International invested $31.5 million in North Carolina-based MSSP SilverSky in October.
  • In early January 2022, SilverSky acquired Massachusetts-based Cygilant, a cybersecurity-as-a-service provider with a security operations center in the UK.
  • Florida-based cybersecurity and blockchain backup company Sollensys has acquired Arkansas-based Celerit, a provider of managed network and cybersecurity solutions that focuses on the financial services industry.

MSP

Private equity continued to show the love of MSPs in 2021. We reported on some notable mergers and acquisitions in the fourth quarter, including a strategic partnership between New Charter Technologies and Spokane, Washington-based Exbabylon, a direct cloud solutions provider from Microsoft. Channel Futures also covered Foxborough, Mass.-based Thrive’s acquisition of Alabama-based InCare Technologies, a managed services provider focused on the healthcare industry.

Other MSP mergers and acquisitions include:

  • Ontario-based MSP Corp has acquired two Canadian MSPs.
  • Connecticut-based CompassMSP has acquired Maryland-based managed services provider MRW Systems.
  • Louisiana-based managed service provider General IT acquired Charlotte, NC-based MSP Versiant and Waco, TX-based managed services provider Unicom Technologies.
  • Domain Technology Partners, a portfolio company of private equity firm Frontenac, completed a merger with managed service providers Compudyne, ProviDyn and MyITpros.
  • MSP, based in Portland, Maine, has logically acquired MSP Halski Systems, based in Georgia, a company with approximately 50 employees.
  • Meriplex, a Houston-based provider of managed cybersecurity and SD-WAN solutions, has acquired Boston-based Reliable IT, a managed services provider focused on the healthcare and financial industries, and Optimum Networking, Colorado-based managed services provider focused on oil and gas. industry.
  • Arizona-based Cerberus Cyber ​​Sentinel acquired the following MSPs and MSSPs in Q4 2021: New Jersey-based managed security service provider (MSSP) Red74, New Jersey-based MSP Atlantic Technology Systems and the MSSP Arkavia based in Chile.

For more information on the fourth quarter M&A outcome for resellers, read the Corporate Finance Associates Worldwide report.

]]>
Investor Relations Week: Digital Dollar ‘inevitable’, mom and pop bail and Saudi Arabia crowned king of Middle East IPOs https://openmrtd.org/investor-relations-week-digital-dollar-inevitable-mom-and-pop-bail-and-saudi-arabia-crowned-king-of-middle-east-ipos/ Fri, 28 Jan 2022 10:21:32 +0000 https://openmrtd.org/investor-relations-week-digital-dollar-inevitable-mom-and-pop-bail-and-saudi-arabia-crowned-king-of-middle-east-ipos/ – The United States is likely just a few years away from a central bank digital currency (CBDC), according to Bank of America, reported Cash and risks. The bank predicts that the United States will issue government-backed digital coins sometime between 2025 and 2030. CBDCs “are an inevitable evolution of today’s e-currencies,” Bank of America […]]]>

– The United States is likely just a few years away from a central bank digital currency (CBDC), according to Bank of America, reported Cash and risks. The bank predicts that the United States will issue government-backed digital coins sometime between 2025 and 2030. CBDCs “are an inevitable evolution of today’s e-currencies,” Bank of America strategists wrote. Alkesh Shah and Andrew Moss in a report. In the meantime, the use of digital currencies issued by private entities will likely increase, they said.

The Federal Reserve discussed the development of its own coin in a 35-page article last week, saying the article was just a first step and it had no plans to proceed without the support. of the White House and Congress. He pointed to a number of benefits, such as cheaper and faster cross-border payments, but also noted several potential risks, including possible runs on financial firms and a reduction in the number of deposits in the banking system.

– “I wonder what was the force that turned an orderly decline into a real rout [Monday] Morning?’ request Bloomberg (pay wall). The answer: “Mom and Dad are flowing”. In a “panicked selling spasm” early Monday, retail investors sold $1.36 billion worth of shares net by midday – most in the first hour – according to data compiled by JPMorgan strategist Peng Cheng Chase & Co. According to its estimate, stock sales were 3.9 standard deviations above the full-day average over the previous 12 months, the company added. As “the rush out” sent the Nasdaq 100 down nearly 5% in Monday morning trading, Bloomberg also noted that the news could be a sign of “seller exhaustion.” The leading averages staged a “breathtaking reversal within hours of the wave of sell orders arriving,” he said, with stocks actually ending higher.

Bloomberg reported that, according to Goldman Sachs, Saudi Arabia will remain the most active stock market in the Middle East, even if the United Arab Emirates pushes more companies to go public. John Wilkinson, head of emerging markets equity capital at the bank, based in London, described 2021 as an “outstanding year” for the Persian Gulf. The IPOs of ACWA Power, Solutions by STC and Saudi Tadawul Group in Saudi Arabia, along with several others in Abu Dhabi, pushed equity issuance in the Middle East and North Africa to around $23 billion. dollars last year. Riyadh had more registrations than any of its Gulf rivals over the past year, Bloomberg added. Saudi Arabia’s economy, the largest in the Middle East, has been boosted by soaring oil prices above $85 a barrel and the government’s easing of coronavirus restrictions. The Tadawul All Share Index is up 8% this year, according to Bloomberg data, making it one of the best performers in the world.

– The FinancialTimes (paywall) reported that international banks have warned Beijing of its plans for new overseas listing rules. Banks said an overhaul of China’s overseas registration regime could deter them from advising on IPOs, which “would jeopardize a source of funding that has fueled some of the most successful companies.” best known in the country”, according to the newspaper. Asia Securities Industry and Financial Markets Association, the region’s main banking lobby group whose members include Goldman Sachs, Morgan Stanley and JPMorgan Chase, has written to Chinese regulators seeking clarification on the proposed rules after the calamitous listing of the rideshare app DiDi Chuxing in New York last year, according to two people familiar with the matter.

– The SECOND reopened the comment period on proposed rules under the Dodd-Frank Act requiring the disclosure of information reflecting the relationship between executive compensation paid by a company and the company’s financial performance. The reopening is due in part to certain developments since 2015, when the proposal release was released, including changing executive compensation practices, according to the agency.

“If passed, this proposed rule would enhance the transparency and quality of executive compensation disclosure,” SEC Chairman Gary Gensler said in a statement. “The commission has long recognized the value of executive compensation information to investors. In 2015, [it] proposed rules to implement the Dodd-Frank Act’s “pay for performance” requirement. In this reopening release, we consider whether additional performance measures would better reflect Congress’ intent in the Dodd-Frank Act and provide shareholders with the information they need to evaluate a company’s executive compensation policies.

– Dow Jones has added its own ESG data to the growing information available to investors, reported Media Markets. The new dataset provides sustainability scores and sentiment on more than 6,000 publicly traded companies, Dow Jones said, with a scoring model aligned with SASB standards, covering five sustainability dimensions and 26 categories. To differentiate itself from the many ESG rating providers currently in the market, Dow Jones will combine “company-disclosed data with information from thousands of global sources,” Markets Media said, creating a service “uniquely focused on news”.

– The FT report that, according to the Conference Board, less than 10 eligible companies out of nearly 12,000 have demonstrated that they are ready to comply with the new environmental reporting rules that came into force in Europe at the start of the year. The group warned that the majority of European companies it has analyzed may not provide data at the end of their financial year on capital expenditure on key issues such as renewable energy.

New EU rules require any listed company with more than 500 employees to publish the percentage of revenue, capital expenditure and operating costs of activities covered by the green taxonomy – a classification system that defines the environmentally sustainable activities in line with EU climate change objectives. The global assessment found that “only a handful” had published taxonomy audits. There was widespread ignorance, said Anuj Saush, head of the Conference Board’s governance and sustainability center, which sends nearly 200 members a briefing on how to comply.

The Wall Street Journal (paywall) reported that the SEC has proposed measures that would significantly increase its understanding of private equity funds and certain hedge funds, the first in a series of plans to expand the agency’s oversight of private markets. The proposal would increase the amount and speed of confidential information that private equity funds and hedge funds report to the agency on a document known as Form PF. The primary goal, SEC Chairman Gensler said, is to enable regulators to better identify the risks that are building up in private markets.

Net assets managed by private funds reached $11.7 billion in the first quarter of last year, compared with $5.3 billion in 2013, according to the SEC. This growth has raised concerns among some policymakers that invisible risks may be accumulating in a sector of the market far less transparent than mutual funds or publicly traded companies.

– London Metal Exchange chief Matthew Chamberlain steps down after five years in role to join crypto start-up, reported AM from the city. Chamberlain will become the chief executive of digital asset custodian Komainu, a company that safeguards $5 billion worth of crypto on behalf of its clients. Commenting on his appointment, Chamberlain said: “I have always been passionate about creating safe and effective solutions to ensure that global markets operate as efficiently as possible.” He described Komainu’s model as combining “the best of traditional and decentralized finance, and truly [representing] the natural evolution of our industry.

Chamberlain is the latest experienced traditional markets executive to be “drawn into the crypto space,” the newspaper added, noting that last year former UK chancellor Philip Hammond joined digital asset custodian Copper as than advise. City AM said the move signals “a collision between the worlds of traditional and decentralized finance.”

– Gryphon Advisors became Tomorrow Sodali (Canada) following the December 2021 acquisition of Canadian proxy solicitation firm by global corporate advisory firm Morrow Sodali. The deal bolsters Morrow Sodali’s Canadian offering, with the company noting in a statement that the company ranked as the #1 activist advisor in the Canadian market, according to Bloomberg’s Global Activism Review 2021. Morrow Sodali was also ranked number one in M&A counsel by The Deal (US) and Mergermarket (globally) for 2021 and 2020, the firm added.

]]>
David Blowers | Director of Growth | business Finance https://openmrtd.org/david-blowers-director-of-growth-business-finance/ Sun, 23 Jan 2022 14:22:57 +0000 https://openmrtd.org/david-blowers-director-of-growth-business-finance/ David Blowers, Jr. is Director of Growth for the Corporate Finance practice, based in the Chicago office. He draws on over 10 years of experience in investment banking and management consulting, with deep expertise in strategy, operations and large-scale change management. David leads the firm’s operations growth strategy, focusing on financial analysis and business development […]]]>

David Blowers, Jr. is Director of Growth for the Corporate Finance practice, based in the Chicago office. He draws on over 10 years of experience in investment banking and management consulting, with deep expertise in strategy, operations and large-scale change management.

David leads the firm’s operations growth strategy, focusing on financial analysis and business development projections, developing key performance indicators for revenue models, designing and executing strategic plans across all service lines and auditing budgets and forecasts.

Prior to joining the company, David served as a project manager at the Boston Consulting Group (BCG), where he executed digital transformation projects, resulting in millions in savings through the development of digital tools and robotics. With functional expertise in growth strategy, transformation, corporate finance and operations, he has advised management teams on how to build revenue growth while effectively managing change. He has also performed several due diligence analyzes for private equity clients in the healthcare, consumer goods and industrial goods sectors. Prior to BCG, he was with Kroll, performing M&A transactions and dividend recap analysis for private equity clients.

David was the former Vice President of Steppenwolf Associates Theater and led fundraising for Steppenwolf for Young Adults, an initiative to provide arts education to Chicago public schools.

David holds an MBA from the Kellogg School of Management at Northwestern University. He also holds a BA in Economics from the University of Michigan and studied at the London School of Economics. He is a professional musician in the Chicago area.

]]>
Anthony Berkus | Corporate financing and restructuring https://openmrtd.org/anthony-berkus-corporate-financing-and-restructuring/ Sat, 22 Jan 2022 18:05:51 +0000 https://openmrtd.org/anthony-berkus-corporate-financing-and-restructuring/ Anthony is Managing Director of Transaction Advisory Services, based in the Los Angeles office. He draws on more than 15 years of professional experience in transaction advisory, accounting and finance. Prior to joining the firm, Anthony was a Vice President at CTS Capital Advisors, LLC, where he was responsible for performing and managing buy-side due […]]]>

Anthony is Managing Director of Transaction Advisory Services, based in the Los Angeles office. He draws on more than 15 years of professional experience in transaction advisory, accounting and finance.

Prior to joining the firm, Anthony was a Vice President at CTS Capital Advisors, LLC, where he was responsible for performing and managing buy-side due diligence engagements for leveraged buyout, senior and subordinated debt and strategic transactions in the middle market. . Previously, he was a senior partner in the Insurance and Business Advisory Services practice at PricewaterhouseCoopers. Notable clients included Disney Studios, ABC Networks, Sony Pictures Entertainment, independent film production and distribution companies, software, internet commerce and digital media companies. Special assignments at PricewaterhouseCoopers included two business segment divestitures, forensic proceedings on an investigation into fraudulent financial reports and an IPO.

Anthony has expertise in advising lenders, strategic buyers and private equity firms on pre-investment financial and accounting due diligence and post-investment portfolio company reviews. His representative transactions cover a wide range of industries, including software, media, healthcare, manufacturing, business services, hospitality, education and consumer products.

Anthony holds a master’s degree in public accounting and a bachelor’s degree in accounting from the University of Texas at the Austin McCombs School of Business. He is a Certified Public Accountant in the State of California (inactive) and also holds FINRA Series 79 and 63 registrations.

]]>