WAY Capital, Inc.’s Post

The savviest private capital firms continue to spend time on investments in professional services businesses. Here Nicholas Matthew, Craig Jourdan, Paul Armstrong and I focus on the opportunities and challenges of the sector that is keeping many Ropes & Gray LLP teams busy at the moment. #privatecapital #businessservices

I have interviewed over 30 Operating Partners over the last 2 weeks... The reasons they are exploring next steps... The firm is struggling to fundraise The firm has changed industry vertical The firm underpays operating partners Does not receive carry Not considered part of the team, seen more as a consultant Is a board member but is used by the #privateequity firm to help secure deals Only now in a downturn they listen to me and now want my help ⚠Value creation is just sold here, it is not implemented #privateequity #executivesearch #operatingpartner #valuecreation

New Mountain Capital, an investment firm, completed the investment in Grant Thornton LLP (US), a provider of audit and assurance, tax, and advisory services. Financial terms were not disclosed. “Our partnership with New Mountain Capital empowers Grant Thornton to deliver transformational, high-quality outcomes for our clients, our talented team members and the industry as a whole. The investment immediately enhances our value in the marketplace and enables us to accelerate our current strategy. We’ll enjoy greater scale, resources and agility, while better positioning the firm to make targeted investments in talent, technology, infrastructure and enhanced capabilities. Grant Thornton will further solidify our position as the industry’s platform of choice,” Seth Siegel, Grant Thornton CEO. Grant Thornton (led by Seth S.) was advised by Deutsche Bank, Dechert LLP, Mayer Brown, Vedder Price and Kekst CNC (led by Daniel Yunger and Nathan Riggs). New Mountain Capital (led by Nikhil Devulapalli and Andre Moura) was advised by Hunton Andrews Kurth LLP, Simpson Thacher & Bartlett LLP and Goldin Solutions. #MergersAcquisitionsDivestitures #Advisory #BusinessServices

CMG Managing Partner, Ramsey Goodrich, will lead a dynamic discussion at the CFO Knowledge Network about “The CFOs Role in Transaction Readiness”. The event will explore the considerations that need to be addressed by the CFO for any company preparing for a sale or raising additional capital. Topics to be addressed include:  • Developing a compelling business case and financial projections to attract potential investors or buyers.   • Strategizing for tax planning in advance of the recapitalization to optimize tax efficiency and minimize potential liabilities.   • Preparing for a detailed Quality of Earnings review that can help maximize value.   • Leveraging financial advisors and legal experts to navigate anticipated transactional nuances and regulatory requirements.  • Conducting a thorough review of the financial operations, including people, processes, controls and systems, to identify potential issues and areas for improvement.   • Implementing effective risk management strategies to safeguard the company's value during the recapitalization process.  • Establishing clear communication channels with key stakeholders, including existing investors, board members, and executive leadership. • Anticipating and addressing potential challenges or obstacles that may arise throughout the recapitalization journey. If you are interested in attending this special event, please reach out and we would be happy to help make arrangements. Featured panelists: • John Willert from Heartwood Partners • Michael Rubel from RFE Investment Partners • Jessica McCauley from Marcum LLP #cfo #mergersandacquisitions #familybusiness #founder #capital #investmentbankers #connecticut

More great advice for CFOs and Private Equity Sponsors looking to maximise the impact of the CFO in Exit Value Maximisation, this time from Matt Baird at OMERS Private Equity "Be explicit about roles and who is doing what – do this at the start. There are lots of parties involved in an exit and all roads lead to the CFO" #DeloittePrivateEquity #peioperatingpartnersforum #DeloittePEPortfolio

Focus Financial Partners CEO Ruediger Adolf is retiring at the end of the year, closing his tenure with the firm after nearly 20 years and a transaction that took it private in August. Here’s a look at the leadership transition that comes in the wake of a giant deal for the registered investment advisory firm aggregator. #professionaldevelopment #careeradvancement #rias #csuite #ceo #financialplanning #mergersandacquisitions

As part of a series of thought leadership articles on Board Services, Lindsay Craig poses the question “to equity or not to equity” in the context of corporate governance and board members’ equity ownership, considering the broader implications, trade-offs, and ethical dimensions involved. https://lnkd.in/g6bYyQjh #boardappointments #BoardDirectors #boardequity #boardpositions #boardservices #TRANSEARCHau #TRANSEARCHInsights

We have advised LPL Financial on its acquisition of wealth management solutions company Atria Wealth Solutions. Corporate and M&A partner Stephen Besen, who led the deal, said: “We are delighted to have supported LPL Financial in expanding its platform in North America through the Atria acquisition. We are seeing an increase in activity in financial services M&A, particularly in the asset and wealth management space. This transaction underscores A&O’s ability to provide clients with exhaustive transactional support for their U.S. growth objectives.” Associates Aaron Swartzman, Brittany Beyer, Yuwei Liu and Patrice Oseni from the corporate and M&A teams assisted on the deal, with support from financial services regulatory partner Hilary Sunghee Seo, senior counsel C. Wallace DeWitt and associates Sebastian Souchet and Alyssa Jones. A cross-team of attorneys from our tax, employment and benefits, antitrust, technology transactions and intellectual property, data privacy, and real estate practice groups provided additional support for the deal. #MergersandAcquisitions #Corporate #WealthManagement

We’re thrilled to launch our first-ever webinar on October 12: Sizing and Structuring Shared Ownership Programs. Learn from Ownership Works and our partners at Deloitte and Kirkland & Ellis about structuring broad-based ownership plans in private equity-backed companies. The webinar will cover:  • What a meaningful and holistic shared ownership program looks like  • How to size a plan that is meaningful for employees and feasible for the company  • Plan design examples and considerations, with an emphasis on structures that reduce administrative complexity This 10/12 webinar is exclusively for Ownership Works’ Founding Partner investors and their portfolio companies. To learn more, please email [email protected]. #SharedOwnership #EmployeeOwnership #Webinar #PrivateEquity 

In a Financial Times letter, Lindsey Stewart, CFA outlines the reasons that CEOs should not be elected by shareholders, responding to Stuart Kirk's May opinion piece which argues that shareholders should directly elect company chief executives, instead of ratifying decisions made by corporate boards. https://lnkd.in/ehMJHMCK Lindsey notes conflict of interest and regulatory dissent as just some of the problems that could arise if shareholders were to choose a company's CEO. #ProxyVoting #ShareholderEngagement #Governance