Download Investment Bankers to the Middle Market

THE FIRM
Corporate Finance Associates (CFA) is one of North America's oldest and most prominent investment banking firms
serving middle-market companies. In its over 50 year history, CFA has recorded thousands of successful transactions by
working diligently on the client’s behalf. Our global footprint and network of over 50 experienced professionals make CFA
uniquely qualified to help you realize your business goals.
Investment Bankers to the Middle Market
Ranked the No. 10 M&A Advisor for U.S. transactions under $50 million by Thomson Reuters in 2012, Corporate Finance
Associates is an international investment banking firm serving middle-market businesses. For over 50 years Corporate
Finance Associates has been advocating on behalf of business owners who are restructuring a company, either through
divestiture, merger, acquisition or recapitalization.
YOUR BUSINESS IS OUR BUSINESS
You’ve spent years building your most important and valuable asset… your business. But now you are at a crossroads and
need advice. Whether you are selling your business, buying a company, raising capital or planning your business exit
strategy, the professionals at Corporate Finance Associates stand ready to guide you through every step in the deal
process. CFA offers a full line of investment banking services tailored to middle-market business owners.
SELLING A BUSINESS
During the life of nearly every business owner, there comes a point when one contemplates selling all or part of the
company. For some owners, the decision to sell a business and transfer the risks and responsibilities to someone else is
the clear choice. For others, the decision to sell may not be so cut and dry. It may make more sense to seek a financial
partner who really understands the industry and the business opportunities a recapitalization would bring. It may be time
to sell only a division, subsidiary or product line in order to improve the long term prospects for a company.
For most business owners a sale, merger, or recapitalization is unfamiliar territory and going it alone may not be the
smartest choice. Corporate Finance Associates (CFA) is one of the oldest and largest middle-market investment banking
firms in North America focused on the mid-sized business owner. For over fifty years, we've been helping business owners
maximize their company's value. Our commitment to remaining independent from direct lending sources or investment
capital affiliates ensures that we deliver unbiased guidance and helps to increase competition among potential buyers.
BUSINESS EXIT STRATEGY
Your Life After Business
Ultimately, every privately held business will be transferred. The ownership will change by selling, liquidation, bankruptcy,
going public, transferring to a relative, donating to charity or merging with another company. Each of these transfers has
different tax, family and lifestyle consequences for the owner. You need a Business Exit Strategy to ensure the best
possible outcome.
DIVESTITURE STRATEGY
Selling a business, a division, a subsidiary, a product line or major asset is a process that requires equal parts creative
thinking, critical analysis, expert advice, sound planning and flawless execution. Having the right team of investment
banking professionals working for you is critical to ensure success.
CFA's prime objective is to achieve the best possible terms for you. We develop a custom divestiture strategy. We
establish price expectations and realistic valuation parameters. We identify and assess prospective purchasers, nationally
and internationally, and design and draft the information memoranda.
CFA handles the divestiture process in a sophisticated and dynamic manner. We refuse to be bound by standard
methodologies… from inception to completion we regularly check and refine the sale template, thereby ensuring it reflects
not just our expectations but the best available solution in the marketplace.
CFA divestiture mandates include the development of a strategy to maximize value and achieve other objectives of the
selling shareholders such as form of consideration, timeliness, confidentiality, and minimal disruption. A controlled,
competitive sale process is typically conducted, tailored to the circumstances and sensitivities of our client and the
business. This process incorporates the identification and qualification of prospective strategic and financial buyers around
the world.
RECAPITALIZATION AND LIQUIDITY STRATEGY
There comes a time in the life of many companies when an infusion of new capital or the addition of a strategic equity
partner makes good business sense. There are a variety of reasons why it might be time for the Recapitalization of your
middle market business:
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Buyout of partners or family members
Remove a portion of the real value of your company in cash as capital gains
Remove your personal risk from all corporate liabilities
Create a vehicle to enable your management team to acquire equity or buy you out... for cash!
Grow the business with the new investor's capital and sell the remainder of your equity down the road - at an even higher value!
Whatever your reason, if you decide that personal liquidity or an infusion of new capital is a smart move, the questions
then become, “Where does this new capital come from?” and “How can I implement this growth strategy?”
CFA professionals are experts in developing custom growth strategies for middle market businesses and helping owners
implement those strategies. During our 50 plus year history, we have developed relationships with both strategic and
financial buyers alike. With our worldwide network of Dealmakers, CFA is uniquely positioned to help you achieve your
business goals.
THE BUSINESS SELLING PROCESS
For most business owners, selling a business is something that may happen only once in a lifetime. So, once you’ve made
that decision to sell… what happens next? If you haven’t experienced the business selling process before, you may not
know. During our over 50 year history, we have sold hundreds of businesses and we are experts in this field. In addition,
many of our Principals have themselves been through the selling process as former business owners.
FORMULATING THE EXIT STRATEGY
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Uncover exit goals via preliminary interview
Develop an exit strategy based on those goals
Establish business valuation criteria and ranges
Develop business value expectation
Develop enhancement strategies to maximize company value prior to sale
PREPARING THE BUSINESS FOR SALE
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Assess company’s strengths/weaknesses
Develop personalized marketing program
Prepare powerful marketing documents including a brief blind executive profile and a confidential information memorandum
Prepare a secure password protected microsite which can contain video and pdf documents
MARKETING THE COMPANY
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Identify potential buyers worldwide
Identify prospective equity and strategic partners
Identify, screen and initiate confidential discussions with potential buyers
Generate interest and arrange facility visits
EXECUTING THE SALE
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Receive Letters of Intent
Negotiate chosen Letter of Intent on behalf of the client
Negotiate structuring the transaction
Managing the due diligence process via a secure online Dataroom
Coordinate legal, tax, accounting and other professionals
Review agreements and closing documents
MEMPHIS OFFICE
Our Memphis practice has an exceptional track record as well as breadth of knowledge and international experience to
assist clients with M&A transactions. We have served many industries including: utilities, medical waste, software
development, manufacturing, railroads, trucking, real estate, medial, retail and professional services. More than any
middle-market firm in the Memphis area, we have the people, resources, and network to get the job done.
Our commitment to remaining independent from any investment or lending affiliates ensures that we deliver unbiased
guidance. We represent only one side, your side. Imagine the advantage of tapping into the negotiating skills of a CFA
principal who knows both sides of a deal.
Selling, buying or financing a business is a complex process that requires thorough preparation, skillful negotiation, and
intimate knowledge of markets and financial resources. With CFA, you'll work locally with a senior principal, who can
provide expert valuation, analysis, and negotiating skills, as well as preferred access to a national and international
network of CFA industry experts and resources
MEMPHIS TEAM
Serving as your partner throughout all phases of the transaction process, your CFA principal will guide you through every
challenge, advocate on your behalf, and leverage our firm’s wealth of experience and resources to see you through to a
successful close.
Choosing an investment banking firm is not easy. For many business leaders it is often a once in a lifetime decision. If you
harbor any doubts about the next step, call us. Selecting an experienced and knowledgeable firm that is a strong advocate
for your interests will provide the confidence and security inherent in making the right decision.
Gerald W. Lindsay, CPA
Gerald W. Lindsay is the Managing Director
for CFA's Memphis office. His background
includes over 33 years of experience in raising
corporate capital, structuring and negotiating
M&A transactions and...
Read More »
Otto W. Thomas
Otto W. Thomas is a Director in CFA's
Memphis Office. His background includes
turning around underperforming or troubled
community banks. Otto has provided
consulting services to banks...
Read More »
Brad Lindsay, CPA
Brad Lindsay is a Certified Public Accountant
with over eight years experience in
Accounting, Finance, Business Development,
and Management. As the Director of Financial
Analysis for CFA's...
Read More »
Jennifer "Jenny" Robichaux, CBI
As Director of Acquisition Services, Jenny
assists clients in effectively preparing their
business for sale. She works closely with each
client to determine their needs and the best
way to....
Read More »
EXECUTIVE PROFILE
CONTACT
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CFA Memphis
6465 N. Quail Hollow Road
Suite 215
Memphis TN 38120 USA
T / 901.751.8880
F / 901.471.3800
E / [email protected]
EDUCATION
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B.B.A., University of Memphis
PROFESSIONAL ASSOCIATIONS
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GERALD W. LINDSAY
CFA MEMPHIS
American Institute of Certified Public Accountants
Tennessee Society of Certified Public Accountants
Association of Corporate Growth, Tennessee Chapter
FINRA LICENSES
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Series 7, 79, and 66
Gerald W. Lindsay is the Managing Director for CFA's Memphis office. His background includes over 33 years of
experience in raising corporate capital, structuring and negotiating M&A transactions and corporate consulting.
Gerald began his career with Touché Ross & Company. He then became a Partner in a C.P.A. Firm in the Memphis area for
the next 24 years. In his C.P.A. practice Gerald began advising clients with M&A transactions. He also developed
entrepreneurial interests of his own and invested in commercial real estate, transportation and the utilities industries.
Throughout his career, Gerald has been involved in multiple M & A transactions involving: utilities, medical waste, software
development, manufacturing, railroads, trucking, real estate, professional services and banking and financial services.
Gerald has worked with both public and private businesses in the United States, Europe, Middle East, Japan and China. He
currently has an office in Beijing, China to support his business interests overseas.
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Past Successes Include
Beginning five start-up companies, all of which are in operation today
Managing three joint ventures with the Chinese Government
Completing a merger between two leading Electric Utilities, one in the U.S. and the other in Europe.
Completing two IPOs
Gerald is a member of the American Institute of Certified Public Accountants, and has been active in the State and local
societies of CPAs. He has also made numerous presentations and contributed articles that have been published in several
industry publications.
Securities offered through Silver Oak Securities, Inc. | Member FINRA|SIPC
EXECUTIVE PROFILE
CONTACT
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CFA Memphis
6465 N. Quail Hollow Road
Suite 215
Memphis TN 38120 USA
T / 901.751.8880
F / 901.471.3800
E / [email protected]
EDUCATION
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B.B.A. Western Reserve University
J.D., Cleveland Marshall School of Law, Cleveland
State University
OTTO W. THOMAS
CFA MEMPHIS
Otto W. Thomas is a Director in CFA's Memphis Office. His background includes turning around underperforming or
troubled community banks. Otto has provided consulting services to banks and has cleaned up the commercial loan
portfolio of a $500MM commercial bank that the owners were desirous of selling. At that bank, he restructured a $60MM
portfolio of commercial loans that the acquiring entity did not want to keep.
Otto began his career as a staff accountant and later moved to a publicly traded regional investment banking firm before
becoming the head of the Trust Department of a community bank. He then moved to the commercial side of the bank as
Executive Vice President. Otto became President and CEO of a troubled commercial bank that he turned around, saving it
from seizure by regulatory authorities. He then went on to turn around three other underperforming commercial banks as
President and CEO.
As a consultant, his firm successfully completed fifty contracts with the Resolution Trust Corporation during the "thrift
crisis" of the late 1980s and early 1990s.
He has provided consulting services to and temporary management for small to middle market companies as well as
having engaged in M&A activities.
Otto has a JD and was admitted to the Ohio Bar.
EXECUTIVE PROFILE
CONTACT
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CFA Memphis
6465 N. Quail Hollow Road
Suite 215
Memphis, TN 38120 USA
T / 901.751.8880
F / 901.471.3800
E / [email protected]
EDUCATION
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B.S., University of Tennessee
PROFESSIONAL ASSOCIATIONS
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BRAD LINDSAY
CFA MEMPHIS
American Institute of Certified Public Accountants
Tennessee Society of Certified Public Accountants
Association of Corporate Growth, Tennessee Chapter
FINRA LICENSES
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Series 7, 79, 24 and 63
Brad Lindsay is a Certified Public Accountant with over eight years experience in Accounting, Finance, Business
Development, and Management.
Prior to joining the Memphis office of Corporate Finance Associates Brad began his career at Morgan Stanley. He was
responsible for developing and structuring tax-favored retirement, tax-qualified and preferred benefit plans, business
valuations, corporate and individual portfolio selection and diversification. Later, he joined a national accounting firm,
where he where he prepared audits, reviews, compilations, and tax returns and assisted publicly traded clients with
Sarbanes-Oxley financial controls. Brad has also worked internationally in China.
As an analyst living in Beijing, he reported on high profile portfolios and joint venture opportunities with the Chinese
government.
Brad is an active member of the Tennessee society of CPA's and the AICPA, as well as several local professional
associations. He currently holds FINRA Series 7, 79 and 63 licenses.
Securities offered through Silver Oak Securities, Inc. | Member FINRA|SIPC
EXECUTIVE PROFILE
CONTACT
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CFA Memphis
6465 N. Quail Hollow Road
Suite 215
Memphis, TN 38120 USA
T / 901.751.8880
F / 901.471.3800
E / [email protected]
EDUCATION
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B.B.A., University of Memphis
M.B.A., University of Memphis
PROFESSIONAL ASSOCIATIONS
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Association of Corporate Growth, Tennessee Chapter
International Business Brokers Association (IBBA)
JENNIFER ROBICHAUX
CFA MEMPHIS
Jennifer Robichaux, the Director of Acquisition Services for the greater Memphis region, assists clients in effectively
preparing their business for sale. She works closely with each client to determine their needs and the best way to position
their business in the market. Her commitment has always been to enhance the value of a company before it goes on the
market.
Jenny worked for several years at FedEx in Global Brand Management and Retail Marketing Departments. Her experience
includes brand management, communications, business plan development, and strategic planning.
Jenny earned her MBA. from the University of Memphis where she majored in Marketing. She also holds a Real Estate
License in the state of Tennessee. She is an active member of the IBBA, M&A Source and other leading M&A
organizations. She has received the Certified Business Intermediary (CBI) designation from the IBBA.