Q1 2023: Tech Deal Report
Miami Investment Banking Firm Cassel Salpeter Releases Tech Industry Deal Report
South Florida firm publishes Q1 2023 Tech Investment Banking Report surveying technology deals, industry M&A, and public markets activity
Flourish Research Holdings, LLC Acquired Central Research Holdings
- Background: Central Research Associates, Inc. (“CRA”), based in Birmingham, AL, is a leading, founder-owned, multi-specialty clinical research site, offering clinical trial opportunities to patients in Birmingham and the surrounding areas.
- Cassel Salpeter:
- Served as financial advisor to CRA
- Successfully identified a strategic buyer interested in expanding its footprint in the Southeastern U.S.
- Was deeply involved in the process from buyer selection through closing
- Challenges:
- Expedited marketing process to ensure the sellers timeline was met
- Maintained original deal timeline despite challenging market conditions
- Navigating extensive diligence process without interrupting the business
- Outcome: In April 2023, CRA was acquired by Flourish Research Holdings, LLC (“Flourish Research”), a large clinical trial site network in the U.S.
Corbett Technology Solutions, Inc. Acquired Firecom
- Background: Firecom, Inc. (“Firecom”), based in Woodside, NY, is the largest fire alarm company in New York City, servicing approximately 800 high-rise buildings, and is one of only five companies in the U.S. to manufacture its own fire life safety systems for high-rise buildings.
- Cassel Salpeter:
- Served as financial advisor to the company
- Ran a highly-focused competitive sales process, identifying and contacting strategic buyers
- Assisted in the structuring, negotiating, and closing of the transaction
- Challenges:
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- Maximizing and delivering value for synergies
- Managing ownership and operational complexities
- Navigating extensive diligence review process
- Outcome: In June 2022, Firecom was acquired by Corbett Technology Solutions, Inc. (“CTSI”), a leading provider of communication, collaboration, life-safety, and security solutions for clients across the East Coast. CTSI is a portfolio company of Wind Point Partners.
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.
Q4 2022: Healthcare Deal Report
Miami Investment Banking Firm Cassel Salpeter Releases Healthcare Industry Deal Report
South Florida firm publishes Q4 2022 Healthcare Deal Report surveying private placements, M&A, IPOs, public market activity, and trends
Q4 2022: Aviation Deal Report
Miami Investment Banking Firm Cassel Salpeter Issues Aviation Industry Deal Report
South Florida firm publishes Q3 2022 Aviation Deal Report surveying year’s company M&A, deal flow, and market trends
Q4 2022: Tech Deal Report
Miami Investment Banking Firm Cassel Salpeter Issues Aviation Industry Deal Report
South Florida firm publishes Q3 2022 Aviation Deal Report surveying year’s company M&A, deal flow, and market trends
Q3 2022: Aviation Deal Report
Miami Investment Banking Firm Cassel Salpeter Issues Aviation Industry Deal Report
South Florida firm publishes Q3 2022 Aviation Deal Report surveying year’s company M&A, deal flow, and market trends
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.
