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Knowledge Centers

Private Equity-Backed Deals in the Middle Market:
An Outlook for 2013

Held on Thursday, November 15, 2012 - 10 a.m. EST

Middle-market deal activity has been dealmaking's engine in 2012, largely fueled by private equity investors. While the pace of deals throttled back somewhat in the third quarter, all the ingredients for a surge in deals remain in place. Word on the street has it that, once the election is over and the fiscal cliff averted, the corresponding lift in business confidence will take hold and the logjam of private equity-backed deals will start to clear, and rapidly.

The question is where will that activity be, and which middle-market opportunities look to offer the most reward? Which industry sectors and regions will garner the most private equity interest and why? Which are the most promising exit events - a strategic or a secondary sale? With record levels of committed capital that must be put to work or possibly lost, portfolio companies which need to be sold and corporate balance sheets flush with cash, how can middle-market dealmakers best position themselves for 2013? Join The Deal LLC for a discussion of the key concerns that middle-market dealmakers have going into the new year, including private equity's appetite, debt financing, regulatory requirements, deal sourcing and the needs of strategic acquirers.

On Nov. 15, with the help of leading middle-market private equity investors and M&A advisers, we'll aim to answer these and other critical questions facing dealmakers as they prepare for 2013. After just 60 minutes, listeners will have a refreshed perspective on the direction in which the market is heading and a better understanding of private equity's deal appetite, debt financing availability, pending regulatory requirements, deal sourcing and the needs of strategic acquirers.


Miller_Suzanne_New_227x128.jpgMatt Miller
Editor at Large

The Deal

As editor at large at The Deal, Matt Miller has written feature stories investigating the successes and struggles of major metropolitan areas like Cleveland, Philadelphia, Milwaukee, San Diego and Boston, and covered the bankruptcies of Catholic dioceses around the country resulting from incidents of sexual abuse by priests.

Matt has spent more than 25 years in business journalism, with much of that time based in Asia for The Wall Street Journal Asia. Miller opened The Wall Street Journal Asia's New Delhi bureau, was bureau chief in Manila and an investigative reporter based in Hong Kong, where he broke stories on a number of major financial scandals. He also was the Pacific Rim correspondent for The San Diego Union-Tribune and has contributed to the BBC, NPR, Institutional Investor, the Far Eastern Economic Review and the Los Angeles Times.

Expert panel:

ChrisBehrens_142x142.jpg Jay Jester
Managing Director, Business Development
Audax Group

Mr. Jester is a Managing Director and Director of Business Development. Previously, Mr. Jester was a General Partner with Florida Capital Partners, a middle market private equity firm. Mr. Jester also worked at Bowles Hollowell Conner & Company.

Mr. Jester received a B.A. from the University of North Carolina at Chapel Hill.

TomByrne_142x142.jpg John Sinnenberg
Cyprium Investment Partners

John R. Sinnenberg is the Chairman and co-founder of Cyprium Investment Partners, a private equity firm currently investing out of its third fund which has $500MM in committed capital. Cyprium primarily makes 'sponsorless' non controlling mezzanine and equity investments in privately-owned middle market companies. Previously, Mr. Sinnenberg founded Key Principal Partners, a predecessor group in 1998 simultaneously establishing Cyprium Investors, a vehicle for institutional and high net worth families to invest side-by-side in certain of the KPP Funds' investments. Mr. Sinnenberg also established a fund of funds as well as a secondary unit under the KCC name while leading KPP. Prior to founding KPP, Mr. Sinnenberg established Regis Capital Partners to invest in middle market companies. Mr. Sinnenberg previously worked at The Barclays Group, where he co-founded its BZW Mezzanine Group, which began operations in 1989. From 1980 to 1989, he served in a variety of investment banking, trading and senior lending functions with The Barclays Group and Bankers Trust Company in London, Atlanta and New York.

In addition to serving on the boards of several portfolio companies, Mr. Sinnenberg serves as a trustee of The China Institute, director and chair of the finance committee for Breakthrough Charter Schools, a trustee of the Ahuja Medical Center and a trustee of the Rock and Roll Hall of Fame and Museum.

Mr. Sinnenberg received an MBA from the Wharton School at the University of Pennsylvania and a BA in Economics from Bucknell University.

MarkEssig_142x142.jpg Tom Schauerman
Norwest Equity Partners

Tom Schauerman focuses on management buyouts, recapitalizations, and growth financings within the technology and business services, manufacturing, and distribution industries. He is responsible for sourcing investment opportunities, creating transaction structures, managing the investment due diligence process, and obtaining necessary financing for investments. Tom also works with portfolio management teams with their strategic planning, execution of business plans and completing add-on acquisitions. In addition, he has completed several successful investment and liquidity events for NEP portfolio companies, including Pelican Products, Amcom Software, Surgical Information Systems and GoHealth.

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