“Nobody Knows Anything”
April 2, 2020
Attempts to gain perspective on the deal market in the midst of coronavirus have reminded me of this ageless observation from the screenwriter William Goldman:
Read MoreIn the Thermocline
February 26, 2020
In its just-released February report, GF Data turned to an oceanographic term to describe the state of the middle market, noting that all of the action is in the thermocline the layer in deep water subject to significant temperature change even when the surface temperature is changing hardly at all.
Read MoreHeading for the Exits
December 10, 2019
As my GF Data partners and I travel the country, one question dominates every conversation regarding this improbably long-lived seller’s market: “What inning is it?”
Read MoreStill the Same
November 21, 2019
Generally favorable market conditions for private business sellers continued to prevail in the third quarter, according to GF Data’s just-released November report.
Read MoreSeller’s Market, Seller’s Rules
September 12, 2019
Seller-friendly positions on deal points continue to accompany favorable economics in this sustained seller’s market, according to GF Data’s Fall 2019 Key Deal Terms Report.
Read MoreTracking the Hidden Rises & Falls in the Private Equity Industry
September 4, 2019
We are seeing valuations remain at unprecedented levels. But that does not mean every business is being valued as highly as it was a year ago. Some industries – auto parts, building products – have started to flag based on concerns about the economic cycle or trade policy. Others – health & wellness, direct-to-consumer – continue to find room to surge. What are the differentiators between the two groups? It isn’t just industry, but often sub-categories within industries getting different receptions from buyers and lenders.