As the economy recovers, and the market adjusts to the new post-pandemic normal, 2021 is shaping up to be a banner year for M&A activity. Sellers of strong, well-performing middle-market businesses find themselves in a favorable position to capitalize on opportunities from well-funded buyers or strategics, while buyers are seeing a growing pool of companies starting to evaluate strategies and noncore assets.
How has the Covid-19 pandemic forced dealmakers to change their approach? How has deal sourcing changed in the wake of the Covid-19 pandemic? Are carve-outs a favorable deal type for both buyers and sellers? will SPACs continue to play a significant role in the M&A market? Will ESG play a significant role in dealmaking?
Join The Deal and a roster of senior corporate executives, private equity and institutional investors, and corporate advisers for The Deal Economy Dallas. This full day, in-person event explores the opportunities, obstacles and risks middle-market dealmakers face in the current environment and how to navigate through them.
Ms. Tiffany Kosch is a Managing Director at CenterGate Capital a $350 million lower middle market private equity fund. Tiffany has over 20 years of investment experience creating value in lower middle market companies.
Will the recovery bring back larger deals? Will the market for more exits via SPACs and IPOs stay robust? Will a rising nationalistic sentiment and a post-Covid focus on reliable and resilient supply chains lead to a more local bias in sectors such as healthcare, clean energy and green infrastructure? What are investor expectations for the rest of 2021?
Panelist: Damian Burke, Managing Director, Main Street Capital Corporation
Panelist: Daniel Grinnan, Vice President, The Riverside Company
Panelist: Tiffany Kosch, Managing Director, CenterGate Capital
Private Equity firms are circling as they look to create value from overlooked corporate business units. Meanwhile, the pool of targets is growing for PE and strategics alike, as the pandemic has forced many corporations to look inward and assess their own operations. How has the carve-out deal changed during the pandemic? What mix of buyers are corporates seeing for carve-out transactions? How does PE differentiate itself in a process for a carve-out asset?
Panelist: Dodie Butler, Board Chair and Board Member, Thomas Crown, Inc.
Panelist: Adam Shulman, Vice President and Deputy General Counsel – Acetyl Chain and Business Strategy & Development, Celanese Corporation
SPACs (Special Purpose Acquisition Companies) are shell companies created for the sole purpose of taking a private company public and have been playing a significant role in the M&A market, as capital flows at a staggering rate into these “blank check” companies. For sellers, SPACs expand the investor pool and provide a way to access capital that otherwise might not have been available and may be more desirable than an outright sale to another corporate or PE buyer. Will we see the SPAC frenzy continue, and what nuances do investors and companies need to be aware of?
The recovery of M&A activity toward the end of 2020 continues to accelerate in 2021, and as valuations remain high, we see targets coming from a growing pool of sellers. Paused deals have re-emerged, private equity still has record amounts of dry powder to deploy, and companies that were hit hard during the pandemic are reassessing strategies and noncore assets. What sectors will see opportunity during the recovery? What obstacles may affect deal flow? How will the new presidential administration’s laws and regulations on tax and trade change the landscape? What role will M&A play in the overall global economic recovery?
Panelist: Ross Gatlin, CEO & Managing Partner, Prophet Equity
Panelist: Barrett Lidji, Partner, Northaven Capital Partners
Panelist: Jack Sadden, Partner, Valesco Industries
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A series of discussions for healthcare dealmakers on the current opportunities, pitfalls and latest developments in the M&A market.
Experts discuss trends in the tech M&A market including virtual dealmaking, the proliferation of SPACs, stock sell-off and cross border deals.