A recent edition of the Globe & Mail featured the following eye catcher: “Canadian M&A Craters in the Third Quarter”. While it’s true that mega-deals cratered in the third quarter, mid-market activity, the bread and butter of Canadian mergers and acquisitions, remained strong, writes Karen Fisman of Toronto boutique M&A advisory firm Valitas Capital Partners. In an exclusive feature article for PE Hub Canada, Fisman says Valitas and other market sources believe 2017 is in fact shaping up quite well for Canada's mid-market, with the fourth quarter already off to a strong start.
By Michael Kauffman, Tech DNA The technology risks uncovered by technology due diligence fall into three main risk categories: hidden liabilities, increased downside risks, and decreased upside risks. Hidden liabilities These risks are often the largest liabilities. They include: Cybersecurity/Privacy risk: By now most professionals understand the reputational risks of being hacked. A potentially greater […]
By Patrick J. Crocker, MHT Partners Private equity is in love with all things gummy, investing in a gummy-vitamin revolution that’s sweeping the $41 billion U.S. vitamin/mineral/supplement market. Virtually nonexistent a few years ago, the gummy-supplement market is already valued at more than $1 billion in annual U.S. revenue and is rapidly growing — a […]
There has been a ton of spinout activity over the past few years, more than some industry veterans have seen since the halcyon days of the market peak. At that time, sources told me, every investment professional with an inkling of talent was at least considering making a moving and starting his or her own […]
Let’s face it, we in the private equity industry are performance junkies, and not just professionally but probably in our personal lives, too. But there’s good reason for this. Many studies show that we tend to move and improve what we measure. It’s in that spirit that we’re happy to share some key results and takeaways […]
There is momentum in Washington to lighten the regulatory burden on private equity. That was the sentiment expressed by speakers at the Association for Corporate Growth’s 2017 Middle Market Public Policy Forum in late September. And while that momentum may be building, it doesn’t mean the industry is likely to see any wholesale rollback of […]
By Jonathan Gilbert, Crystal & Co Over the past few years, dealmakers have discovered how much representation-and-warranty insurance policies can streamline negotiations and closing deals. Under these policies, an insurance carrier promises to compensate the buyer of a company if there is an unanticipated breach of seller representations in the purchase agreement: for example, noncompliance […]
By Peter Fair, Golub Capital With the exit hurdle moving higher for tech unicorns, it’s harder for venture-backed software companies to access public equity markets. But there’s good news: Private equity has the tech sector in its sights. The multiples just might make founders and their venture backers think twice about the IPO as their […]
California Public Employees’ Retirement System is in talks under which BlackRock would take over its $26 billion private equity portfolio, according to Bloomberg. This is some weird, wild stuff. CalPERS, if you haven’t noticed, has been heavily scrutinized around PE, mostly because of its past inability to fully track the costs of the program. Like many public […]
By Chris Fay, Greenwich Strategy Investors who are doing commercial due diligence the way they’ve always done it are almost certainly missing opportunities to own great companies. Commercial due diligence used to be a confirmatory step at the end of the acquisition process. In today’s tough market it’s got to be front-loaded. It serves not […]