In The News

The principals of M&A are quoted regularly and frequently in publications ranging from Business Week and Forbes to the Wall Street Journal, the New York Times, New York Post, Los Angeles Times, and other major publications worldwide. M&A has been the subject of interviews on business-radio and television programs including the Fox Business News, CBS MarketWatch, The Street.com TV, Yahoo! Finance TV, Sirius XM Radio, BBC-Worldwide and CNBC. Below are links to a sample of articles in which M&A has been quoted:

Michael Maxworthy Makes the Case for a Dual Process Strategy in The Fintech Pandemic Playbook

August 2020

Partner, Michael Maxworthy was quoted by Calliber Intelligence in their newest offering: The Fintech Pandemic Playbook, a first of it's kind study, targeted at CEO's, Founders and Investors with the goal of providing "a framework for navigating not only the current crisis but also the path forward." You can read the direct quote below (or skip to page 20).

 

A few founders we spoke with are running a dual process of raising a round while simultaneously talking to investment bankers or strategic buyers. We met with a handful of investment bankers to understand the current appetite for mergers and acquisitions (M&A) and red flags for founders. What we heard is that startups caught in the wrong part of the funding cycle are now faced with both a tougher funder and M&A environment. Though the funding might be available, the probability of hitting growth targets while sales are still sluggish from COVID is unknown. 

 

Michael Maxworthy, Co-founder and Executive Managing Director of tech investment bank Marlin & Associates, provided his takeaway:

“Clients frequently work with us to run a dual process that contemplates either the entire sale of a company, a majority recapitalization or a minority recapitalization. In these cases, we reach out to both strategic and financial buyers to understand the various options that management would have as it considers strategic alternatives. 

In some cases, the financial sponsors have a portfolio company that is looking for roll-up opportunities in our client’s space, or if big enough, a brand new platform.”

 

Despite the anomalous market conditions, laid out in section IV: “Customers,” only 10% plan on exiting. Even so, it may be a last resort after cutting expenses, sharpening their focus on revenues, and raising capital to protect the business.

 

Source: "The Fintech Pandemic Playbook: MAKING IT “WORC”, A Navigational Framework for Founders,CEOs and Investors." Caliber Intelligence Proprietary Research,  August 2020, p. 20.

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