In 2006, Jim Leven and Bruce Mittman came together to form the broadcast group Community Broadcasters, with the goal of being the voice for the community in small and mid-sized radio markets. The duo’s primary area of focus has been in the Northeast, but recently they’ve expanded into the Southeast with the acquisition of 12 South Carolina radio stations from Miller Communications.
- A booming retail sector and business-friendly government regulations make the Southeast a great environment for businesses, specifically those in the radio industry.
- From a radio industry buyer’s perspective, the acquisition process doesn’t vary much from region to region. In addition to considering financials, there’s an increased focus on facilities and people.
- The current landscape of the broadcast industry means there’s likely to be more M&A opportunities in the future.
Continue reading A Window Into the Radio Market in the Southeast: An Interview with the Owners of Community Broadcasters
Melinda Davis Lux is an M&A partner and leader of the corporate practice group for Wyche, P.A., a South Carolina law firm. Ms. Davis Lux focuses her practice on mergers and acquisitions, joint ventures, and financing transactions.
- It is a seller’s market in South Carolina for profitable middle-market companies seeking capital. The challenge for these companies is not becoming more attractive to investors, but becoming more visible to them.
- Many out-of-state PE firms are active in South Carolina, and this is one of the biggest drivers of M&A activity.
- In addition, South Carolina companies are buying businesses in other regions of the U.S. and bringing the acquired company’s headquarters to South Carolina, which is also driving economic activity.
- Manufacturing remains a staple in South Carolina’s economy and this sector is active in the M&A market, as are the distribution, healthcare, advanced materials, aerospace and technology sectors.
- As PE firms migrate downstream towards lower middle-market companies, there is increased competition for local investors who want to buy small companies.
Continue reading A Seller’s Market in South Carolina: An Interview with Melinda Davis Lux