M3 Wake Research acquired MSRA Company

  • Background: Multi-Specialty Research Associates (“MSRA”), based in Lake City, FL, is a founder-owned clinical research site, conducting Phase I-IV clinical trials. Since its inception, MSRA, a leader in clinical trials, has conducted clinical trials for leading sponsors in therapeutics, vaccines and diagnostics.
  • Cassel Salpeter:
    • Served as financial advisor to the company
    • Ran a focused, competitive sales process, identifying and contacting strategic and financial buyers
    • Successfully identified a strategic buyer interested in expanding its operations in Florida
    • Was extensively involved in the process from buyer selection through closing
  • Challenges:
    • Expedited sale and due dilligence process to ensure the sellers timeline was met
    • Balancing seller’s objectives to maximize value while preserving organizational structure
  • Outcome: In May 2022, MSRA was acquired by M3 Wake Research, headquartered in Raleigh, NC, an integrated organization of premier investigational sites, with over 16 research locations throughout the U.S..

The Aaron’s Company acquired BrandSmart U.S.A.

  • Background: BrandsMart U.S.A. (“BrandsMart”), based in Fort Lauderdale, FL, is a leading Southeast U.S. appliance and electronics retailer, offering a wide selection of brands, and thousands of products, including appliances, consumer electronics and computers, furniture, and other home goods. 
  • Cassel Salpeter:
    • Served as financial advisor to the company
    • Facilitated the due dilligence process, working closely with the team to expeditiously and clearly answer acquirer’s questions
    • Assisted in the structuring, negotiating, and closing of the transaction
  • Challenges:
    • Ensured the desires were met to carry on the company legacy after decades of family ownership
    • As it was an unsolicited transaction, the seller was not fully prepared for the nuances of a sales process
    • Extensive due dilligence process without interrupting business, while working to meet the timing needs of a public company acquirer
  • Outcome: In April 2022, BrandsMart was acquired by The Aaron’s Company (NYSE: AAN), a leading technology-enabled, omnichannel provider of lease-to-own and purchase solutions with headquarters in Atlanta, GA.

Promotions of Laura Salpeter and Tahz Rashid

Committed to providing world-class independent investment banking services to middle-market and emerging growth companies, Cassel Salpeter is pleased to announce the promotions of Laura Salpeter from vice president to director and Tahz Rashid from analyst to associate.

End of Year Round-Up

As Cassel Salpeter & Co. looks back on more than a decade of providing superior financial advisory services, we continue to grow in market intelligence, experience, and quality of personnel, refining our capabilities for the businesses we serve.

Cassel Salpeter & Co. Facilitates Sale of MoviePass Assets to PreTechnology Inc.


Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide, today announced it has successfully facilitated the sale of the assets of MoviePass, Inc. (“MoviePass”), a subscription-based movie ticketing service that allowed subscribers to see several movies for a fixed monthly fee, to PreTechnology Inc.

The deal sets the stage for a MoviePass relaunch in 2022.

“We were privileged to work with Alan Nisselson, the trustee for the Chapter 7 estates of Helios and Matheson Analytics Inc., to help find a home for the MoviePass assets. We are pleased to have been able to add additional value to the estate despite the challenging environment in the entertainment industry presented by the pandemic,” said Philip Cassel, a managing director at Cassel Salpeter & Co.

The assets were successfully sold in November with the purchaser being MoviePass co-founder Stacy Spikes.

Previously, in April 2020, Cassel Salpeter also assisted the Chapter 7 Trustee with the sale of MovieFone and other assets of the debtor.

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Cassel Salpeter & Co. Facilitates Sale of EveryMundo to PROS Holdings

 Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide, today announced it has successfully represented EveryMundo, LLC, a digital offer marketing pioneer with headquarters in Miami, Fla., in the company’s sale to PROS Holdings, Inc. (NYSE:PRO), a provider of SaaS solutions optimizing shopping and selling experiences with headquarters in Houston, Texas. 

PROS paid $80 million in cash at closing, subject to certain customary adjustments, and will deliver approximately $10 million in stock in the future, subject to certain conditions.

Since its founding, EveryMundo has been focused on helping brands like American Airlines, Star Alliance, Tennis Australia, Greyhound, and Japan Airlines Vacations maximize their reach and engagement, enabling deeper direct relationships with their customers across multiple channels in the most flexible and profitable way possible. For example, with airlines, this means being able to quickly and effortlessly publish offers on direct or indirect channels that entice customers back to owned channels, avoiding the increasing fees charged per offer by global distribution systems that limit reach and erode margin. 

“We’re proud to have been able to work with the EveryMundo team and my son, Co-Founder and President Seth Cassel, to find the right buyer and partner in PROS,” said Cassel Salpeter Chairman and Co-founder James S. Cassel. “There is a strong cultural fit and shared vision between the companies. The combination of EveryMundo and PROS enables them to scale to the next level of growth, gain greater market penetration and increase digital consumer engagement.”

EveryMundo Co-Founder and President Seth Cassel added: “Today is a monumental day for our team and a next step in our quest to disrupt industry paradigms hindering market growth and opportunity for airlines and B2B organizations. The cultural fit and business model alignment with PROS is what makes this combination so powerful and what will enable us to transform the brand experiences for the businesses we serve.”

“It was incredibly rewarding working with Cassel Salpeter, said EveryMundo Co-Founder and Chief Executive Officer Anton Diego. “The firm’s knowledge and experience were invaluable throughout this process, and helped make the transaction seamless, without interrupting our business, and while working quickly and diligently to achieve the best outcome for our team.” 

The Cassel Salpeter team was led by Chairman and Co-founder James S. Cassel and Managing Director Philip Cassel, with the assistance of Associate Edward Kropf.

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Rounding Out Veteran Team, Cassel Salpeter & Co. Welcomes New Analyst Francisco Belliard

Committed to providing world-class independent investment banking services to middle-market and emerging growth companies, Cassel Salpeter is pleased to announce the addition of up-and-coming financial professional Francisco Belliard, who joins the firm as an analyst. 

In this role, Francisco will bring his research, analytical, and critical thinking skills to assist the firm in its investment banking advisory services, including conducting valuations. 

“Delivering the best services to our clients requires a well-rounded team of veterans, as well as rising stars like Francisco who are capable of bringing financial industry acumen, impeccable analytical skills, and a fresh perspective to our work,” said President and Co-Founder Scott Salpeter. “Francisco already shows signs of being capable of bringing thoughtful analysis and new energy to our already proven and experienced team. We look forward to his contributions at Cassel Salpeter.”

FRANCISCO BELLIARD 

Prior to joining Cassel Salpeter, Francisco interned in the tax and legal division at KPMG Dominicana. Having graduated magna cum laude with a double major in international business and finance from Florida International University, he is a member of two academic honor societies: Beta Gamma Sigma and Tau Sigma. 

Click to learn more about Francisco

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Cassel Salpeter & Co. Facilities Sale of Comprehensive Eye M.D. to Spectrum Vision Partners

Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle-market companies in the U.S. and worldwide, represented Comprehensive Eye M.D., a highly regarded eye care specialist, in the company’s sale to Spectrum Vision Partners, LLC (Spectrum), an organization serving many of the top ophthalmology groups and ambulatory eye surgery centers in New York, New Jersey, Connecticut, and Pennsylvania, and a portfolio company of Blue Sea Capital, a private equity firm based in West Palm Beach, Florida.

“We are proud to have worked with Comprehensive Eye M.D., Dr. Marc Wietschner, and the Spectrum team. It took hard work, persistence, and expertise, but we found them the right partner to move forward within this transaction,” said Cassel Salpeter’s co-founder and chairman James Cassel.

Comprehensive Eye M.D.’s owner and founder Dr. Wietschner added: “We couldn’t be more thrilled to have teamed up with Cassel Salpeter. The expertise and professionalism shown by Cassel Salpeter in connection with this sale was second to none. They made the entire process as painless as possible, even through the difficulties brought on by the pandemic.”

The Cassel Salpeter team was led by co-founder and chairman James Cassel and Vice President Laura Salpeter. Comprehensive Eye M.D.’s attorneys were Douglas Menikheim, Benjamin Malerba, Scott Feuer, and Joseph DiBella of Rivkin Radler LLP, while Spectrum used David Manko, Peter Eggers, and Cyrus Abbassi of Proskauer Rose LLP as its legal counsel.

Cassel Salpeter would like to thank Greg Wappett of Spectrum, and Heidi Wietschner of Comprehensive Eye M.D. who worked diligently to expedite the transaction’s closing.

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Cassel Salpeter & Co. Welcomes New Analyst Aaron Schiff to its Veteran Team

Committed to providing world-class independent investment banking services to middle-market and emerging growth companies, Cassel Salpeter is pleased to announce the addition of an up-and-coming and skilled professional, Aaron Schiff, who joins the firm as an analyst. 

In this role, Aaron will leverage his financial analysis and equity research expertise to assist with the firm’s M&A and advisory services. 

“A critical aspect of the work we do is to provide keen financial insight and  prudent analysis for our clients,” said chairman and co-founder James Cassel. “Aaron is a sharp, bright-minded team member who will do just that, and is a wonderful addition to our very experienced team. We look forward to the many great things he will contribute while at Cassel Salpeter.”

AARON SCHIFF 

Aaron earned dual bachelor’s degrees in finance and in international studies, summa cum laude, from Rowan University, where he also competed on the university’s NCAA varsity men’s swim team.

Click to learn more about Aaron

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Cassel Salpeter & Co. Secures Debt Financing For Plantation Boat Mart & Marina, Inc.

Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide, represented Plantation Boat Mart & Marina, Inc. (“Plantation”) in securing senior debt financing from Synovus Bank. The financing will support various recapitalization and growth initiatives. 

Plantation Boat Mart & Marina, Inc. operates as an independent, family owned boat dealership and marina. Founded in 1996 and based in Tavernier, Florida, Plantation is a dealer for Sea Hunt Boats, Deep Impact Boats, Invincible Boats, and Blackwater Boats. They also offer an excellent selection of quality pre-owned center console boats and yachts. Plantation’s parts and service department continues to grow and is now one of the most complete and largest departments in South Florida, with over 40,000 square feet under-roof. 

Plantation is proud to have achieved both Top 100 Dealer in North America and the National Marine Manufacturers Association’s 5-Star Certified Dealership status. Plantation is not just a boat dealership—but a way of life. The connectivity to their customers is long-standing and essential, as they return to Plantation year after year, purchase after purchase, to support their passionate lifestyle for boating. 

“Cassel Salpeter has years of experience helping middle-market businesses like Plantation raise capital, complete recapitalizations, and mergers and acquisitions,” said Cassel Salpeter Director Joseph “Joey” Smith, who led the assignment. In this instance, we helped Plantation in evaluating its financing options and assisted throughout the due diligence and closing process. Plantation’s Founder Elias De la Torre, Jr. added: “We are grateful for the expert guidance that Cassel Salpeter provided in connection with the transaction.”

Robert Gardana, Esq., Aldo Lastra, Jr. CPA, and Anita Aedo, Senior Vice President & Director of Middle-Market Banking at Synovus Bank, also worked diligently to expedite the transaction’s closing.

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.