Category Archives: Georgia

The Private Equity Phenomenon and the Fall of the IPO: An Interview with Bob Woosley

After beginning his professional service career at Price Waterhouse, Bob became the first professional employee of Frazier & Deeter, a nationally ranked CPA and advisory firm, shortly after the company was founded in 1981. In 1985, Bob became a partner and over the next 18 years he served the firm as head of the Audit and Strategic Consulting services departments. In 2000 Bob founded iLumen, Inc., the CPA profession’s leading business intelligence and analytical platform that today is used by leading CPA firms and financial institutions across the country. Bob served as CEO of iLumen through 2010 and is currently an active board member and advisor to the company. In 2011, Bob returned to Frazier & Deeter where he served as the leader of the firm’s entrepreneurial consulting practice and directs the firm’s strategic growth initiatives on both a national and local level. He is now the firm’s national practice leader in private equity.

Key Takeaways:

  • The private equity market in the Southeast has accelerated in recent years, with a lot of money chasing a limited number of quality deals.
  • A good deal of private equity firms are eager to invest in traditional, family-owned manufacturing and distribution companies.
  • Attention is shifting toward growth equity, which is more about making a minority investment in a company and betting on the existing management team.
  • The technology industry is driven more by revenue than the traditional Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)-based valuation model.
  • The Southeast is a great place to do business because of its business-friendly environment and growing entrepreneurial infrastructure.

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A Window Into the Tech Industry in the Southeast: An Interview with Doug Johns

Doug Johns is a senior advisor to Doug Johns headshotFourBridges Capital Advisors with many years of executive experience in the technology and telecommunication sectors. He also currently serves as the Chairman of the Board of Directors for NIVIS, LLC, the world’s leading developer and integrator of wireless network technologies.

Key Takeaways:

  • Overall, the technology market in the Southeast is very robust, particularly in Atlanta.
  • From a tech standpoint, the Southeast is underserved in terms of access to capital, investment bankers and advisors.
  • The tech industry in the Southeast needs increased visibility to become comparable to other major tech hubs.
  • Developing incubators and accelerator programs are critical to the growth of tech startups.

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First Annual Market Expectations Survey

A look at what investors, business owners and their advisors see in the year ahead for mergers & acquisitions in the South. 

Presented here are highlights from the first annual Investment Banking South Survey, in which we ask investors, business owners and their advisors to look back to 2014 and forward to 2015 in order to give us a sense of where the merger & acquisition market in the South is today and where it is going.

Conducted in April 2015, this survey was completed by 338 investors, business owners and business advisors – such as attorneys, accountants and bankers – from Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina and Tennessee.

As we note in the first paragraph, this will be an annual survey, with the results of each year building on the previous year, so that we can identify trends and patterns over time that may shed further light on the evolution of the middle market in the South.

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The “Halo Effect:” An Interview with Bruce Doeg

Mr. Doeg chairs Baker Donelson’s Business Department in Nashville, Tenn., which consists of more than 200 attorneys in the Securities, Corporate, Mergers & Acquisitions, International, Real Estate, Intellectual Property and Tax Groups in 21 offices across the South.

Key Takeaways:

  • Capital is available for companies in the South with strong assets and steady cash flows – especially startups and early stage businesses.
  • Increased capital flowing into startups and early stage companies creates a halo effect that is leading to more capital for middle market companies, as well.
  • Most money is coming from money centers outside the South, as well as across the globe. Foreign investors, in particular, are looking beyond the coasts for better opportunities in other parts of the U.S., especially the South.
  • Southern cities doing especially well at attracting capital include Atlanta, Nashville, Memphis and New Orleans.
  • There are a lot of people with money on the sidelines who would like to get involved in equity investments, but they don’t have the experience, time or enough capital to be the lead investor. Need to provide a way for them to get in deals.

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