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Lower Middle Market Weekly Outlook

Good morning from a rainy New York. Since 2008, corporations have been keeping a careful eye on their balance sheets, building up larger and larger cash reserves. As the stockpiles grew larger, deal professionals waited for the strategics to eventually loosen their purse strings — and it appears the time has come.

Last week, the Federal Reserve released numbers indicating that, for Q1’14, the cash stockpiles for corporations dropped by $91 billion. It is unclear whether this was a one-time surge or a return of strategic acquisitions, but the massive mergers of late have certainly factored into the dollar value.

In other news, not all PE-backed IPOs are created equal.

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This week in history… TV Guide merges with Tele-Communications, Inc. (TCI) for $2 billion (1998).


Member Spotlight

Quarton Partners, a leading middle market investment banking firm, acted as the exclusive sell-side financial advisor on three recent transactions: Wynnchurch Capital’s acquisition of Indiana Limestone Company, Freestone Partners’ sale of Service Refrigeration Company to Source Refrigeration & HVAC, a portfolio company of Arsenal Capital Partners, and AEA Investors’ acquisition of Galco Industrial Electronics.

Quarton provides merger and acquisition (M&A) advisory, equity and debt capital raising and advice on complex securities transactions. Quarton’s principals have completed over 500 transactions in 25 countries globally across a wide range of industries, including business services, consumer products, distribution, healthcare, industrial, manufacturing, and technology. For more information, contact Eric Van Dam at 248-594-0400.


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