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CHICAGO, IL – July 24, 2025 – Sun Acquisitions, a leading mergers and acquisitions firm, today announced the successful sale of Package Steel Systems (PSS), a leading fabricator of structural steel for pre-engineered buildings based in Sutton, Massachusetts to TSS Acquisition Corp.
Shares of the company, which went public back in 2014, are up around 13.5% New Relic’s $87-per-share sale price gives it a valuation that’s less than seven times its current run-rate revenue. Monitoring service New Relic this morning said it has agreed to be acquired by Francisco Partners and TPG for $6.5 billion in cash.
He joins the investment banking arm of Daiwa Securities Group as its new head of equities after nine and a half years with Jefferies, having joined in 2014 in his most recent role. Prior to joining Jefferies, he spent just under a decade at Morgan Stanley as an executive director covering US equity sales in London and Scandinavia.
Citi has named a new head of electronic equity sales trading for the EMEA region, The TRADE can reveal. Jamie Miller Based in London, Jamie Miller has been appointed to head up the division in EMEA after eight and a half years as an employee of the bank, specialising in equity sales trading, according to an update on his social media.
DeoDap, a thriving B2B brand in India, sought to overcome sales challenges and streamline their payment process. The DeoDap Story Founded in 2014, DeoDap started as a wholesale business, connecting with manufacturers to sell products directly in the kitchenware category. But they didn’t stop there.
Hock originally joined Union in 2014 and has since been instrumental in the development of the firm’s trading strategy and structure. Sonal Rashmi has joined equity trading business Instinet in an execution sales role, following seven and a half years at Goldman Sachs.
“We’re already providing BNPL and financing at the point of sale for home improvements and auto purchases, so this is really an expansion of our strategy into travel as another vertical and another significant need of consumers.” Upgrade arguably got Uplift for a song.
Citi named Jamie Miller head of electronic equity sales trading for the EMEA region. Based in London, Miller was appointed to head up the division in EMEA after eight and a half years with the bank, specialising in equity sales trading, according to an update on his social media.
Hock originally joined Union in 2014 and has since been instrumental in the development of the firm’s trading strategy and structure. In 2015, the European asset manager unified its trading teams under one multi-asset trading desk as part of a strategic review, aimed at executing a greater percentage of orders sent by portfolio managers.
Gray initially joined Liquidnet in 2014 as head of fixed income sales for EMEA, helping build the firm’s buy-side client base in fixed income. Gray joined Liquidnet from Morgan Stanley, where he served as a managing director, responsible for convertible bond sales, trading risk and research.
Previously, he served as global head of institutional sales at TP ICAP, and before that worked as head of sales EMEA and Asia Pacific at BGC Partners for two years. Prior to joining Jefferies, he spent just under a decade at Morgan Stanley as an executive director covering US equity sales in London and Scandinavia.
Prior to joining Aladdin in 2021, he spent nearly seven years at IHS Markit in a sales and solutions role for EMEA, two and a half years at FactSet as its global head of sales and seven and a half years at Thomson Reuters as its head of sales for the Americas.
billion sale of its commercial security, fire and life safety business unit to GTCR LLC as well as Consolidated Communications Holdings Inc. on its sale to an investor group that included Searchlight Capital Partners LP and British Columbia Investment Management Corp. Zoubek at Cravath. Zoubek moved to Freshfields in 2021.
Daniel Arnold, a managing director in equities trading, has left the business, as has Adam Lawson, a director in specialist technology equity sales, said the people, who spoke on condition of anonymity as the matter is private. Arnold previously worked as a senior trader at Oriel Securities which was acquired by Stifel in 2014.
Established in 1984 and under current ownership since 2014, they have been a cornerstone in the commercial furniture market. This partnership allows our client to focus on its core operations while navigating the sale process seamlessly. They serve clientele nationwide from its headquarters in IL.
He originally joined HSBC in 2014 as a developer for front office data, working his way up to his most recent role as head of AI for markets and securities services which he served in for four years. Carter joined BrokerTec from Morgan Stanley, where she most recently served as executive director for client financing sales.
Gray initially joined Liquidnet in 2014 as head of fixed income sales for EMEA, helping build the firm’s buy-side client base in fixed income. Gray joined Liquidnet from Morgan Stanley, where he served as a managing director, responsible for convertible bond sales, trading risk and research.
The move follows one from November 2019, where the CFTC found that Goldman Sachs had failed to record the phone lines of a trading and sales desk for 20 calendar days between January and February 2014, following a software patch which caused its recording hardware to malfunction.
's motion to dismiss in a fraud and contract dispute over alleged misrepresentations relating to the sale of certain of its subsidiaries to IAC Search, LLC. IAC Search, LLC v. Conversant LLC (f/k/a ValueClick, Inc.), 11774-CB, 2016 WL 6995363 (Del.
Plaintiffs asserted that the sale was conflicted because Stewart negotiated for greater consideration for herself than for other stockholders and that the transaction did not meet the standards for application of the business judgment rule. 2014) ("MFW"). In re Martha Stewart Living Omnimedia, Inc. Stockholders Litig.,
Prior to that, Arduini held the position of EMEA head of markets, serving in the role from 2014. LedgerEdge appointed Stefano Dallavalle is its new product director and Diederik Van Suchtelen as head of its Amsterdam office and EU sales. He will work alongside Stuart Stanley, global head of FX, up until his final day at Citi.
Bomi Lee knew she wanted to specialize in M&A after working on two deals as a mid-level associate at Cravath, Swaine & Moore LLP in 2014 and 2015, she said on this week’s Drinks With The Deal podcast. “I ’s $7 billion sale of Veritas Technologies Corp. ’s $7 billion sale of Veritas Technologies Corp.
He stated, “We ensure that clients gain every possible advantage in a sale, guiding them through a detailed process that maximizes value, creates competition and ensures successful execution. The firm was founded in 2014 by Michael Fletcher and Al Sica, two of the industry's leading dealmakers who have advised on over $17.5
Business owners considering the potential sale of their business operate under a number of misconceptions about the sale process and result. For some agencies, the best option is raising private equity capital, for others a sale, and for still others internal perpetuation. They structure each transaction to accomplish this end.
The central difference is this – an insurance agency investment bank provides funding services to grow the agency prior to a sale, while an M&A advisory firm provides everything else, typically at more favorable price structures. A good first option is to sit down with a trusted advisor for an expert opinion on your sale.
's motion to dismiss in a fraud and contract dispute over alleged misrepresentations relating to the sale of certain of its subsidiaries to IAC Search, LLC. IAC Search, LLC v. Conversant LLC (f/k/a ValueClick, Inc.), 11774-CB, 2016 WL 6995363 (Del.
Plaintiffs asserted that the sale was conflicted because Stewart negotiated for greater consideration for herself than for other stockholders and that the transaction did not meet the standards for application of the business judgment rule. 2014) ("MFW"). In re Martha Stewart Living Omnimedia, Inc. Stockholders Litig.,
Cantor Fitzgerald Europe appointed William Lindsay as its new head of technology, media and telecoms (TMT) sales for the EMEA region. Arnold previously worked as a senior trader at Oriel Securities which was acquired by Stifel in 2014. Lindsay joined the firm from Berenberg, where he spent the last two years.
A new federal exemption that Congress passed during its December 2022 lame-duck session provided a welcome holiday surprise for M&A Brokers and other business sale professionals. M&A brokers and others who work on business sales must have a thorough understanding of the new law, which goes into effect at the end of March 2023.
Our team’s deep industry experience and unwavering commitment to excellence have allowed us to perfect the formula for generating maximum sale prices for insurance agency sellers. “This success is directly attributed to Sica | Fletcher’s ability to optimize the value of our clients’ firms,” says Managing Partner Mike Fletcher.
The formula for calculating the CCE ratio is: CCE Ratio = Net Sales / ((Beginning Working Capital + Ending Working Capital) / 2) where Net Sales represent the total revenue generated by the company during a specific period, and the working capital represents the difference between current assets and current liabilities.
Since its founding in 2014 the company has made north of 60 acquisitions, with the majority of those acquisitions focused on B2B produce distributors. Xu saw an opportunity to modernize the system by leveraging technology to help operators do more high-value work: moving products, developing new sales channels, and connecting with customers.
To begin, we need to start with a few definitions: Investment Banks: We use the colloquial meaning of “investment banks,” which often includes M&A advisory firms and other financial services firms that facilitate the growth and sale of insurance agencies around a possible sale. Learn more at SicaFletcher.com.
The investing activities comprise the long-term asset purchase or sale. Add to it all the incoming cash from various sources like cash sale of goods or services, proceeds from the sale of assets or investments, the funds acquired by the issue of shares or through bank loans, etc. read more like salaries, taxes, etc.
There is no equity market fixing the multiple that your agency will sell at, and this is another reason you need to use an advisor when considering the sale of your agency. The EBITDA multiple paid is a function of your agency’s size, the current state of the market and the competitive situation in which your agency is being sold.
When the time comes to pass the torch along to the next generation or put the company up for sale to an outside buyer, the process of selling a family insurance agency includes several unique aspects that merit their own analysis. Inter-family loans, unpaid salaries, or shared equity structures may complicate future sales.
For agencies and brokerages looking to grow their businesses prior to a sale, most owners typically opt to work with an investment bank. The simplest answer is, “it depends on whether you need funding/want to grow your agency prior to the sale.” Do You Need Investment Banks for Insurance Sector Deals?
from a revenue-based sale and $9.8M from an EBITDA-based sale. Much rarer in BoB sales. These are much more rare in BoB sales, since the agency will remain otherwise intact following the transaction. Why Sell Just the Book? Selling an insurance agency book of business has a few advantages over selling the agency in total.
In the public markets, the use of public auctions for business sales is commonplace. Now, in the private capital markets, sellers are more concerned with confidentiality, so no one finds out a business is for sale. The authors studied 322 public deals between 2014 and 2019 that totaled more than $2.4 trillion in value.
But the online complainers were still unsatisfied, and I made a bad decision in response to these complaints in 2014. People started complaining about the length, but sales were still increasing, and most students were still getting results by finishing smaller portions. Cheese, etc.). In theory, this was a reasonable idea.
This article examines the most common types of insurance agency sellers, which we break down into two distinct categories: the owners - agency CEOs and founders - and the partners - professionals in charge of overseeing a sale to ensure the best outcome. Urgent financial requirements (e.g., Market/Business Environment.
For example, an HNW firm with a dedicated sales team following an established account-based marketing (ABM) campaign is more likely to have a high RIA valuation multiple, despite the inherent client concentration issue in that model. Learn more at SicaFletcher.com.
This is essentially a digital slideshow intended to be presented to prospective buyers to showcase your agency’s best features in support of a sale. Nearly all M&A transactions for insurance agencies take the form of an auction sale. Insurance agency M&A transactions take one of two forms: Auction.
If you are an insurance brokerage considering a future sale , the best thing you can do for yourself is speak with an advisor who knows insurance broker M&A. Our data, pulled from the SF Index, tracks approximately 75% of all deals done within the sector, making the information provided in the sections above especially data-driven.
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