Cassel Salpeter & Co. and its leadership team are routinely contacted by the news media to comment on investment banking, M&A and general trends affecting middle-market businesses.
For middle-market companies looking to be acquired, a foreign buyer can sometimes prove to be the best fit, but finding that buyer and closing such a deal can make for a complicated process with unique challenges.
Earlier in the week, there was lots of buzz that Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) would acquire Fitbit (NYSE:FIT), whose shares spiked more than 15% today on the news (the main report came from Reuters). While such rumors often fizzle, this one certainly did not.
On Friday, the markets waited in anticipation as trading on Fitbit (NYSE:FIT) stock was paused. Shortly after the markets opened, the news broke that Alphabet will buy Fitbit for $2.1 billion. Shares of FIT soared 15% after the announcement.
The wearables market is simply too large for Google to ignore. For example, as seen with Apple’s (NASDAQ:AAPL) latest earnings report, the category is quite lucrative and a source of strong growth. The company’s assortment of products — like the Watch, HomePod smart speaker and AirPods — generated revenues of $6.5 billion in the latest quarter, up 54% on a year-over-year basis (this is nearly as much as the Mac business!) In fact, AAPL has gotten traction with its Watch in deals with United Health (NYSE:UNH) and CVS (NYSE:CVS).
“Since Google has numerous health initiatives at present, those should complement what Fitbit brings to the table,” said James Cassel, who is the chairman and co-founder of investment banking firm Cassel Salpeter & Co. (in an email interview). “Access to the installed base could be very helpful to Google’s healthcare initiative Project Baseline – a partnership with Duke University School of Medicine, Stanford Medicine and the American Heart Association – as well as other health-centric projects they are working on. Access to big data is crucial for the future of healthcare and Fitbit has access to a lot of information.”
The adage “No man is an island” applies as readily to small or middle-market businesses as it does to an individual — perhaps even more so. According to a 2018 survey by SCORE, the network of volunteer business mentors, mentored businesses are 12% more likely to remain in business after one year, compared to the national average.
It is possible for a student from any MBA program to become a successful investment banker, says Karin Ash, a former university career services official who spent seven years helping MBA students find investment banking jobs.
If your dream is to become an investment banker at a multinational bank like JPMorgan Chase & Co., then an MBA degree from a top business school may help you achieve that goal, according to experts who have been on this career path or have placed MBA students in investment banking positions.
Capital is plentiful and the economy is humming, but don’t forget what happened in 2001 and 2008. Suddenly, companies that did not have a path to profitability in the short term were squeezed hard, often into extinction.
When I got my start in the startup world, I thought success meant becoming profitable in around five to seven years, preferably sooner. It was an assumption, and you know what they say about assumptions.
A plan of liquidation for 1 Global was filed last week in federal bankruptcy court by Greenberg Traurig’s Paul Keenan, who said the investor approval vote drew 2,425 out of over 3,600 investors, the highest he’s seen in a consumer case. That plan would go into effect in mid-October. The initial distribution of $100 million to investors will be made in early November.
Most pharmaceuticals used in the United States are either made in nations such as China and India, or use ingredients that come from those countries.
Federal prosecutors have accused Fort Lauderdale attorney Jan Douglas Atlas of helping 1 Global Capital LLC defraud more than 3,600 investors.
More than 3,600 investors who lost savings to an alleged securities fraud involving a South Florida cash-advance company stand to recover $100 million from a bankruptcy court liquidation, lawyers said Tuesday.
After a decade of steady economic expansion, the possibility of a downturn should be considered in your business’ cash-flow plans, says James Cassel, co- founder and CEO of Miami investment banking firm Cassel Salpeter.
In a week marked by “will they are won’t they” speculation about an upcoming IPO, and leaks that the We Company is considering slashing its once $47 billion valuation to some $20 billion—or maybe less—questions surround the high flying company’s future prospects.
A study by marketing service OutboundEngine found that a staggering 50 percent of business owners admit to not having a marketing plan.
Your business structure is the cornerstone of your company. It is likely one of the first things you decided on when you created your business and, since then, has guided many of your business decisions.
With the 2020 election fast approaching, presidential hopefuls set on wooing business owners need to devise a courtship strategy based on more than platitudes.
Elevated fuel costs are affecting everything from manufacturing to employee commutes. Learn how these business owners are offsetting rising gas prices.