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Most business owners think about valuation only when a sale is on the table.  By then, it is usually too late to influence it.  In a market where PE-sponsored middle-market…Read More

Most business owners think about valuation only when a sale is on the table.  By then, it is usually too late to influence it.  In a market where PE-sponsored middle-market…Read More

I was watching The Bear the other night, the award-winning television series about a young chef trying to transform his family’s chaotic Chicago sandwich shop into a world-class restaurant, and one moment…Read More

In 2026, buyers and lenders are no longer just underwriting a food manufacturer’s past performance. They are underwriting how hard the next chapter looks. That shift – driven by converging…Read More

Most capital raises that go wrong do not fail because of the deal structure. They fail because of the timing. A company can have a sound growth plan, a credible…Read More

Financial stress rarely appears all at once. It usually cascades over time.  A company takes on debt to support growth. Working capital tightens. Interest expense rises. Customer payments slow. Margins compress. Before long, management is spending…Read More

Last year, U.S. companies raised approximately $2.4 trillion in capital outside of public markets. Most of it moved quietly, through a mechanism most people outside of finance have never heard…Read More

How Business Owners Can Plan for a Successful Transition  Most business owners spend years building value, but far fewer invest the time to plan how they will realize it. The…Read More

Valuation gaps emerge when buyers and sellers disagree on the value of a company and are often seen as a deal-breaker. In practice, it is more often a structuring problem to be solved. Sellers see the years…Read More

The Program Is Over. The Workout Is Not. When we first wrote about the Main Street Lending Program, the issue was straightforward: borrowers were approaching a five-year maturity wall and…Read More