The Deal Economy: Middle Market Week

Jul. 27, 2020 - Jul. 31, 2020

About This Event

Has the Covid-19 pandemic destroyed the dealmaking environment or just changed the landscape? At the end of 2019, global M&A was strong, boosted by large deals in healthcare and technology, easy access to liquidity and a healthy amount of new-money deals and refinancings.

The effects of the pandemic have reached far and wide across the financial markets, and while much of the M&A has cooled, dealmaking in some areas has continued to see interest as private capital seeks to fund innovative companies. Innovation is vital, as the challenges in the current market have changed every aspect of the dealmaking process from book to close.

Join The Deal and a roster of senior corporate executives, private equity and institutional investors, and corporate advisers for The Deal Economy: Middle Market Week. This virtual event features a week of online sessions exploring the opportunities, obstacles and risks dealmakers face in the current environment and how to navigate through them.

The Deal Economy: Middle Market Week features daily broadcasts of panel sessions and interviews, and your registration provides access to the entire week of sessions.  You can view them live as they happen or on demand at a time that is convenient for you.

Speakers

Saema Somalya
Senior Vice President, Deputy General Counsel, Fifth Third Bancorp

Saema Somalya serves as deputy general counsel, corporate, and senior vice president at Fifth Third Bancorp. In her role, Ms. Somalya oversees the Corporate and Securities Legal team, the Office of the Corporate Secretary, Executive Compensation and Corporate Governance for Fifth Third Bancorp. Ms. Somalya joined Fifth Third in 2016.

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Brad Armstrong
Partner, Lovell Minnick
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Brendan Carroll
Senior Partner & Co-Founder, Victory Park Capital
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Jaime Forsyth
Managing Director, Monomoy Capital Partners
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Ross Gatlin
CEO and Managing Partner, Prophet Equity
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Jeff Goldfarb
Senior Vice President, Corporate Development, Jacobs
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Florence Hosanna
Director, ORIX Growth Capital
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Tiffany Kosch
Managing Director, CenterGate Capital
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Justin Noznesky
Senior Vice President, Marketing and Business Development, AtriCure, Inc.
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Eric Schaefer
Managing Director, Eurazeo
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Matthew Vaughn
Senior Vice President and General Counsel, Par Pacific Holdings, Inc.
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Kristy N. Waterman
Senior Vice President, General Counsel, Dean Foods
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Suzanne Yoon
Founder and Managing Partner, Kinzie Capital Partners
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Agenda

Monday, July 27:
11 a.m. Eastern
State of the Market: Dealmaking in a Post-Covid-19 World

It goes without saying that the Covid-19 pandemic has affected all aspects of the financial markets. As the world, and the markets, get back to normal, how can corporations position themselves to get back into the dealmaking game? Sectors including software as a service, healthcare IT, logistics and business services remain some of the ripest areas for private capital investment, but will that continue? How are investors navigating the current market? And how are businesses dealing with the disruption caused by Covid-19?

Panelist: David DeSantis, Senior Managing Director, Portfolio Manager, Head of U.S. Private Debt, CVC Credit Partners

Panelist: Jaime Forsyth, Managing Director, Monomoy Capital Partners

Panelist: Florence Hosanna, Director, ORIX Growth Capital

Panelist: Eric Schaefer, Managing Director, Eurazeo

3 p.m. Eastern
Using Carve-Outs and Divestitures to Create Long-Term Shareholder Value

As companies recover and rebound from Covid-19, how do dealmakers manage the process of identifying noncore assets and bringing them to market? What roadblocks are faced in the process of acquiring such assets, and what challenges face corporates looking to sell? How are corporations looking at noncore assets as capital becomes tougher to acquire? On the other side of the table, what opportunities do divestitures give private equity firms and other bidders?

Panelist: Ross Gatlin, CEO and Managing Partner, Prophet Equity

Panelist: Suzanne Yoon, Founder and Managing Partner, Kinzie Capital Partners

Tuesday, July 28:
11 a.m. Eastern
Exploring the Challenges in Add-on or Bolt-on Deals

Typically, dealmakers view add-on or bolt-on deals in two categories: same products, new markets or new products, same markets. Each style of dealmaking carries its own challenges. Expanding into new geographies through deals poses regulatory, cultural and financial roadblocks. At the same time, adding new products also poses its own challenges in sales integration, systems and staffing. What challenges are posed in due diligence in cementing an innovative deal, and how do dealmakers maneuver through those issues?

Panelist: Brad Armstrong, Partner, Lovell Minnick

Panelist: Tiffany Kosch, Managing Director, CenterGate Capital

Panelist: Justin Noznesky, Senior Vice President, Marketing and Business Development, AtriCure, Inc.

1 p.m. Eastern
Keynote Interview with Kristy N. Waterman, Senior Vice President, General Counsel, Dean Foods

Dean Foods is a leading food and beverage company and the largest processor and direct-to-store distributor of fresh fluid milk and other dairy and dairy case products in the United States. This past November, the company initiated voluntary Chapter 11 reorganization proceedings with the intention of using the process to protect and support its ongoing business operations, address debt and unfunded pension obligations, while working toward a sale of the company. Kristy N. Waterman, Senior Vice President, General Counsel will discuss the challenges they faced while navigating a bankruptcy and complicated restructuring process featuring five separate deals all in the middle of the global Covid-19 crisis.

3 p.m. Eastern
Spotlight Interview
Wednesday, July 29:
11 a.m. Eastern
Navigating Cross-Border Deals

With worldwide travel and connectivity disrupted by the coronavirus, how has the market changed for cross-border deals? How are multinational companies looking at aspirations in foreign markets and growth plans abroad? Has the art of cross-border deals changed following Covid-19? How are PE firms, which still have record amounts of dry powder, finding deals in new markets, and how are they navigating these processes in a new world?

1 p.m. Eastern
Is Sustainability Sustainable? Spotlight Interview with Saema Somalya, Senior Vice President, Deputy General Counsel, Fifth Third Bancorp

Do investors, who often complain about companies’ ESG practices really care about these initiatives? Or are they just a lever to enact greater short-term change? Saema Somalya, Senior Vice President, Deputy General Counsel at Fifth Third Bancorp explores the concept of being socially conscious while maintaining the sustainability of shareholder returns. What is the role of the shareholder vote? How are the SEC and federal regulations playing a part in corporate behavior? Before Covid-19, ESG was the buzzword in the market, but how has the pandemic impacted the discourse and the semantics around sustainability?

3 p.m. Eastern
ESG Initiatives: Balancing Sustainability and Growth

Eco-friendly, socially conscious and pro-governance investments have been hailed recently with a surge in focus on ESG initiatives. But sustainability and profitability don’t always go hand in hand. How can dealmakers balance sustainable investments with profits and long-term growth? How do companies plan for future growth but also stay prepared for shorter-term issues? What are the biggest challenges facing companies making a pivot to more sustainable practices, be it in manufacturing, operations or dealmaking?

Panelist: Virginia Fogg, General Counsel, Norfolk Southern Corporation

Panelist: Matthew Vaughn, Senior Vice President and General Counsel, Par Pacific Holdings, Inc.

Thursday, July 30:
11 a.m. Eastern
Spotlight Interview with Jeff Goldfarb, Senior Vice President, Corporate Development, Jacobs

Jacobs Engineering Group has undergone a remarkable transformation over the last several years, driven by both the reinvigoration and shaping of its culture as well as portfolio change through significant acquisition and divestiture. In this session, Mr. Goldfarb will discuss the key elements and lessons learned from this outstanding transformation.

3 p.m. Eastern
Valuations Post-Covid-19

A sellers’ market turned at the drop of a hat for dealmakers, as capital or serial acquirers were pulled into conserving business operations, employment levels and communication among employees. With valuations coming off lows, how should dealmakers view the market? Is it time to be an opportunistic buyer or conserve capital to make sure you can weather the next downturn? For deals that are getting done, what are the main motivations for those sales, and what are owners expecting from the market?

Panelist: Brendan Carroll, Senior Partner & Co-Founder, Victory Park Capital

Friday, July 31:
11 a.m. Eastern
The New Face of Healthcare: A New Digital Revolution

Valuations and sales of many companies in healthcare are in waiting as elective and nonessential surgeries and healthcare procedures remain on hold. The attention has shifted to the burgeoning stay-at-home healthcare industry, more specifically the digital stay-at-home healthcare industry, where companies that offer in-home and remote services are growing, garnering high valuations and receiving investments to keep up with demand. What does the future of healthcare look like, and how are industries such as cybersecurity, payment technology and automation playing a role in the new face of healthcare?

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