Last year, our 30th year in business, was eventful in so many ways. We settled into our new offices in the historic Tide Mill Building overlooking Southport Harbor. From this new inspirational setting, we seem to get in earlier, entertain many more clients and prospects, and work a little bit harder, even with the distractions of the seasonally-changing wildlife and spectacular sunsets out our office windows. We also managed to close several important transactions, hired and integrated a new managing director and an analyst and earned several M&A awards.
We look forward to connecting and working with you in 2018!
30 Years! In July we celebrated our 30th year in business. We are proud to have advised clients through multiple economic cycles and across a broad spectrum of assignments. For three decades, our core principals have never wavered: put our clients' interests first and be their most trusted advisor for planning, preparing and executing middle market mergers, acquisitions and capital transactions that exceed their expectations.
New Offices After 23 years in the same office, we moved into new offices in The Tide Mill Building, a historic landmark building built 1712 that straddles the Southport Harbor and is literally on the water. We invite you to visit our unique and inspirational location the next time you are in the neighborhood.
We have a number of exciting new transactions that are expected to close in the first half of the year, including:
Pharmacy Company - A multi-channel pharmacy that operates multiple retail locations, in-house pharmacies in clinics and closed door pharmacies (Reviewing offers)
Wire Manufacturing - A northeast based manufacturer of steel wire, cable, and cable hardware with approximately $50 million in revenue. (In market)
Paper Recycling - A west coast based post-industrial cardboard and paper recycling company with more than $40 million in revenue (Preparing for market)
New Team Members We added two great new members to the CMM team: Andrew Bangser, Managing Director, joined CMM in January and, in addition to his transaction work, has been leading our Maximizing Shareholder Value initiatives by working with companies years in advance of pursuing a sale. (for more info, click here)
Andrew Nemmich, Analyst, joined CMM over the summer and has already made a significant contribution.
More Awards In June, CMM was awarded the International Corporate / Strategic Deal of the Year award for its work with ComNet in its sale to ACRE, a portfolio company of LLR Partners. In November, CMM was again recognized as a finalist for not one, but two industry specific Deal of the Year awards by The M&A Advisor, including deal of the year for Consumer Services and Manufacturing. Earlier in the year, for the fourth year in a row, CMM was also nominated as a finalist for its client work in several categories by our peers at ACG:
Continued International Expansion CMM's international network, the Alliance of International Corporate Advisors (AICA) continued to expand its footprint with new investment banking affiliates especially in Asia and South America. AICA, of which CMM was a founding member, now totals 41 boutique investment banks covering 68 offices in 39 countries and now consists of more than 250 transaction professionals.
ACG Intergrowth Chairman After his years of service at both the local and national level, Ramsey Goodrich was honored to be the Chairman for the 2017 Association for Corporate Growth's annual Intergrowth Global Conference hosted in Las Vegas.
Outlook for 2018 We continue to see strong activity and valuations in the middle market, driven by dynamic private equity markets, readily available credit, ample cash from strategic buyers and a surging public stock market. It continues to be a 'sellers' market' with robust valuations and more flexible terms. Although we don't see any immediate material risks to this frothy market, we are confident that it cannot last much longer. If you or one of you clients are contemplating a transaction in the next few years, we encourage you to consider it sooner rather than later.
Carter Morse & Mathias | The Tide Mill Building | 99 Harbor Road | Southport, CT 06790Carter Morse & Mathias | The Tide Mill Building | 99 Harbor Road | Southport, CT 06890
203-349-8371 | www.cartermorse.com
Securities are offered through Carter Capital Corporation, memberFINRA and SIPC.
This information should not be construed as a recommendation, offer to sell, or solicitation of an offer to buy a particular security or investment strategy. The commentary provided is for informational purposes only and should not be relied on for accounting, legal, tax or other professional advice. While the information herein is deemed reliable, CMM cannot guarantee its accuracy, completeness, or suitability for any purpose, and makes no warranties with regard to the results to be obtained from its use.