At Cassel Salpeter & Co., 2024 marked a year of progress and steadfast dedication, highlighting nearly 15 years of service in the lower-middle market. Our ability to navigate a constantly shifting economic landscape is a testament to our unwavering focus on delivering value to our clients. We upheld our commitment to excellence, providing superior investment banking and financial advisory services that define our reputation—an achievement made possible by the trust and confidence placed in us by our clients and referral network, for which we express our deep gratitude.

As we look ahead, we reaffirm our promise to nurture existing relationships, forge new ones, and capitalize on emerging opportunities to create maximum value.

As we step into 2025, we carry forward the lessons and successes of the past year standing ready to guide our clients through the challenges and opportunities that lie ahead.

View of 2024, Vision for 2025

2024 was a year of progress within the lower-middle market, fueled by M&A activity in resilient sectors such as healthcare, aerospace, biotechnology, and transportation, with strong interest from financial sponsors and family-owned businesses capitalizing on strategic growth opportunities. We are proud of our team’s efforts and accomplishments in identifying opportunities, adapting strategically, and closing healthy and distressed M&A deals, including two notable bankruptcy sales under Section 363.

Cassel Salpeter achieved success across key sectors, while cultivating strong relationships with our clients and strategic partners. As we look ahead, we are excited to further deepen our expertise in these areas and explore new opportunities to deliver impactful results.

The potential policy shifts under the new administration introduce a layer of change for the business landscape. Tariffs, tightening immigration policies, including deportations, tax law changes, reduced regulation and adopting a more protectionist stance in foreign affairs will have far-reaching implications for supply chains, workforce availability, and international partnerships. Additionally, inflation levels and interest rates will be important factors in market activity. While these may pose risks, they also present opportunities for strategic adaptation and resilience—areas where Cassel Salpeter is uniquely positioned to provide guidance and support to our clients—such as less government involvement and regulation, along with shifting emphasis on energy and manufacturing, among other key industries seen as critical to national security.

With market dynamics shifting rapidly, Cassel Salpeter’s versatility and adaptability ensure we can guide clients through the risks and rewards of expected policy changes under the new administration. Whether it’s facilitating a timely sale, raising capital, acquiring newly available assets, or executing a strategic restructuring, we stand ready to provide the comprehensive investment banking services our clients have come to rely on, both on the sell-side and buy-side.

Amid a Complex Market, Cassel Salpeter Sustained Deal Flow and Prepared to Leverage Emerging Opportunities on Behalf of its Clients

As we reflect on 2024, we express our continuing and deep gratitude to our clients, referral relationships, community partners, and supporters of Cassel Salpeter. We do not take your trust and relationships lightly. While we are always looking for new relationships, it is the existing ones that we enjoy nurturing as they continue to grow and evolve. Our success is a product of our tenacity, knowledge, and expertise, but without your partnerships, we would not be as successful. As you know, our assignments and relationships continue to be throughout the United States. While we love living in sunny South Florida, we work with companies in all regions of this great country and in certain cases, internationally.

As we enter 2025, our focus remains on leveraging our expertise to help identify opportunities for all our client’s and prospects’ needs, but particularly in sectors such as healthcare, aerospace and defense, consumer products and services, and technology. We are confident that our skills and expertise in M&A, restructuring, capital raising, and financial advisory services enable us to meet the needs of our clients.

Highlights Include

Successfully handled in excess of 40 M&A, capital raising, restructuring, and advisory assignments across a broad spectrum of industries. Our team completed this work on behalf of family businesses, private and public companies, including debtors in Chapter 11 cases, financial sponsors, boards of directors, and special committees.

We continued publishing the Florida Sponsor Deal Report, a semi-annual report recapping sponsor deal flow in Florida; our Healthcare Investment Banking Report tracking industry deal flow, while providing deep dives into industry trends and impacts; as well our Aviation Deal Report, a quarterly resource for the aerospace and defense community keeping you informed of developments within the aviation capital markets; and the Tech Review, a quarterly report highlighting emerging trends and developments in the technology marketplace. All are available on our website at www.casselsalpeter.com.

Chairman and Cofounder James Cassel joined Healthcare Managing Directors Ira Leiderman and Margery Fischbein and Aviation Director Joey Smith in providing thought leadership and subject matter expertise featured in media including USA Today, Transacted, Sun Sentinel, Nasdaq Trade Talks, Mergers & Acquisitions, CBS News Miami, and BioSpace.

In 2024 we added Analyst Cody Evans to our team. A former associate at Equity Methods, he holds a bachelor’s in finance from St. John’s University in Minnesota and joins our team of seasoned veterans and mid-career professionals. In addition, we are pleased to announce that Eddie Kropf has been promoted to Senior Associate. Eddie has been an integral part of our team since joining as an Intern in 2019.

Industry Knowledge

About Cassel Salpeter & Co., LLC

Cassel Salpeter & Co., LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the United States and worldwide. Together, the firm’s professionals have more than 100 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com.