Many business owners believe that enlisting an expert in their industry is the right way to go when selling their companies. But if you want to rake in the most value for your business, there’s a better way.

There is no question that mergers and acquisitions are complicated and subject to constantly changing market conditions and industry trends. An industry expert might know plenty about a particular industry, but they are not experts on selling and buying businesses. A mergers and acquisitions firm is.

It is not uncommon for a company acquisition to be viewed as a simple transaction that means transferring the business from one owner to another. But rather than just allowing the business to simply carry on as is under new leadership, a merger or acquisition should be viewed as a solid strategy to boost the company’s overall health, productivity, and bottom line. While M&A transactions can serve as great solutions for exit strategies, they can be so much more than that. M&A should be regarded as a powerful tactical opportunity.

Often times, M&A deals are considered to be a way to get out and cash out with instant gratification. But what else might be possible when a deal is carefully crafted to deliver sustainable returns and support a powerful legacy for the business in the long-term? M&A done right can translate into great success for a company and, ultimately, its leadership.

Benchmark International is pleased to announce the transaction between Marley Drug, Inc. (“Marley Drug”) and Medicure Pharma Inc., the US subsidiary of Medicure Inc. (“Medicure”).

Marley Drug is a North Carolina corporation owned by Dr. David Marley and his wife, Elizabeth Marley. The company operates as a hybrid walk-in local pharmacy and a nationwide mail-order pharmacy focused on providing affordable prescription drugs. Established in 2002, the company is licensed throughout the United States, including Washington D.C., and in Puerto Rico.

Medicure is a pharmaceutical company focused on the development and commercialization of cardiovascular therapeutics for the U.S. market. Medicure Inc. is based in Winnipeg, Canada, and trades under the symbol MPH on the TSX Venture Exchange. Its subsidiaries include Medicure International, Inc. (Barbados), which owns the U.S. rights to AGGRASTAT and two U.S. corporations, Medicure USA, Inc. and Medicure Pharma, Inc., which distributes the company’s products in the United States.

Albert D. Friesen, PhD, CEO of Medicure Inc. commented regarding the deal, “The team at Benchmark International was very helpful in facilitating the Medicure Inc. acquisition of Marley Drug, Inc. Benchmark was well organized and kept the discussion and deal making on schedule for a timely closing to the original target date, for which I thank the entire Benchmark International team.”

The acquisition enables Medicure further to expand the distribution of its products within the United States. As a manufacturer, Medicure intends to provide branded medications, as well as extremely low-cost generic medications.

Dr. Marley commented, “It’s a perfect and responsible transition for Marley Drug.” Regarding Benchmark International, Dr. Marley added, “I can’t begin to express my gratitude to Benchmark International for their role in facilitating the sale of Marley Drug. As someone with zero experience in the M&A world, they were patient with me, as well as educational and efficient. It goes without saying I simply could not have asked for a smoother transaction. In fact, I doubt I could have had a successful transaction without the Benchmark International team.”

Senior Transaction Associate Sunny Yang Garten at Benchmark International commented, “It was a pleasure to support Marley Drug in this transaction. Dr. Marley and his team were wonderful to work with. They were engaging and always responsive to diligence requests. This acquisition represents a tremendous opportunity for both businesses and their teams. On behalf of Benchmark International, we wish both companies continued success.”

In early 2020, there was plenty of optimism for investment opportunities and growth in the sports sector prior to the COVID-19 pandemic, which has since caused disruption in nearly every sector around the world. Financial uncertainty has been a large factor in addition to issues surrounding player contracts and broadcasting rights. Mergers and acquisitions activity in the global sports world has experienced a downward trend but there is hope on the horizon.

Italian Football

Amidst COVID-19 delays, Italian football (calico) has had its share of off-the-field matters this year. In August, the Italian club A.S. Roma announced the completion of a takeover by Texas-based Friedkin Group: an 86.6% stake in for €591 million, a large decrease from the previously agreed upon figure of €750 million prior to the pandemic. This lower price demonstrates how lost matches, sponsorship, and broadcasting income all impact the valuation of sports clubs. In light of these decreasing valuations, PE firms could be motivated to seek out bargain M&A and financing opportunities.

Italy’s Serie A has also embraced private investment. In September, its 20 clubs agreed to create its own media company financed partially by PE funds in order to better organize the sale and promotion of the league's TV rights. The move is designed to improve governance and increase revenue, especially abroad.

Benchmark International is pleased to announce the sale of Dublin-based Industrial Water Management to German-based EnviroChemie Group, a subsidiary of SKion Water GmbH.

Industrial Water Management has been established since 1974 and is engaged in the manufacture and supply of boiler and cooling water treatment chemicals and technical backup services, secondary disinfection equipment, remedial services and other water hygiene solutions to the commercial, industrial and healthcare sectors. With 30 employees, IWM generates an annual turnover of approximately €3 million.

Founded in 1976, EnviroChemie supplies sustainable system solutions worldwide for all the tasks involved in industrial water treatment and the treatment of process water, circulation water, cooling water, boiler water and wastewater. The company serves customers in industrial and commercial sectors such as pharmaceuticals & biotechnology, automotive, transportation, chemicals, dairy, food & beverage, metals, mining, public swimming pools & spas, and textiles.

The acquisition of IWM will strengthen the mutual competencies in the companies’ markets and expand the range of services available for customers. This transaction will give EnviroChemie a presence in Ireland, giving these customers the potential to benefit from EnviroChemie’s broad range of products and services as well as local support from IWM.

Conor O' Donovan, CEO of IWM, commented: "The high level of competence and diverse experience of the experts at EnviroChemie Group will enhance IWM’s capacity in providing comprehensive support to our customers in Ireland. We are also proud to bring our expertise, specifically in water hygiene and legionella treatment, to the customers of our new colleagues. Many existing and new customers will benefit from the expansion of EnviroChemie Group's range of services with complete solutions for process water and wastewater".

On behalf of everyone at Benchmark International, we would like to wish both parties the very best going forward.

Benchmark International is pleased to announce the transaction between Surrey-based Card Geotechnics (CGL) and Palatine-backed CET Infrastructure.

CGL is a specialist geotechnical and geoenvironmental consultancy, providing services for a wide spectrum of ground-based challenges across the construction industry. Using advanced software, the company pioneers time and cost-effective solutions to accommodate clients’ specifications. Operating from seven locations across the UK and Ireland, the company serves clients across a range of market sectors including residential, commercial, infrastructure and energy.

CET Infrastructure is a provider of specialist geotechnical, environmental and materials testing services to the construction and engineering sector. The company is backed by mid-market investor, Palatine Private Equity.

The acquisition, the company’s largest to date, continues its buy-and-build strategy and will take annual revenues at CET Infrastructure to over £30m, as well as significantly broaden the breadth and depth of the technical services it offers to customers.

Peter Eglinton, CEO of CET Group, says: “We are delighted to welcome the team at CGL to CET and excited about the range of skills and services that we can now offer. From the first time we met the team at CGL, we knew that we had a very similar focus around developing our staff and delivering for our customers.”

On behalf of everyone at Benchmark International, we would like to wish both parties the very best going forward.

No one knows for sure how much longer the COVID-19 pandemic will be affecting our lives and our businesses. But we do know that mergers and acquisitions are still happening, deal activity will pick up, and the way we approach due diligence in a post-COVID world has the power to make major differences when it comes to selling a company. While there are new obstacles to consider, there are also significant opportunities to identify and create value, and help companies outperform the market.

Real-time Data

Benchmark International is pleased to announce our attendance at the ACG New York Annual Technology M&A Conference on December 16, 2020.

The conference is devoted to deal making in the middle-market technology sector.

Key elements include:

• Multi billions in dry powder represented
• Attendees include premier technology investors and intermediaries
• 100+ senior capital providers and technology sector insiders
• Private one-on-one meetings scheduled with top decision makers
• Speakers include high profile founders that have sold to Facebook, Amazon, Apple, Netflix and Google

Link to Conference Registration: https://www.acg.org/nyc/events/acg-ny-annual-technology-ma-conference 

ACG New York Annual Technology M&A Conference 

Key topics include the latest trends and investment opportunities:

• Identifying how Private Equity using technology for competitive advantage and to enhance portfolio company value
• Finding tech innovations and ideas that will boom beyond CV-19
• Naming where are Capital Providers are placing their technology sub sector bet

• Joint Venture: When two or more parent companies form an entity together with a business objective, sharing in the risks and returns, and retaining their individual legal statuses. It can be an equal joint venture, in which both parent companies own an equal portion of the entity, or it can be a majority-owned venture, in which one partner owns a larger percentage of the company. A joint venture can help to save money, combine expertise, or enter new markets. It is not a partnership, consortium, or merger. 
• Equity Alliance: When one company purchases a specific percentage of equity in another company. 
• Non-Equity Alliance: When two companies enter into a contractual relationship, which allocates resources, capabilities, assets, or other means to one another.

A special congratulations to Managing Partner Kendall Stafford at Benchmark International for receiving the Americas Rising Star Dealmakers award for 2020.

Global M&A Network honored the winners of the Americas Rising Star Dealmakers during the 3rd annual virtual ceremony celebrations held this year. The prestigious "once in a lifetime" award singularly recognizes brilliant and exceptional young dealmakers from the private equity and growth investors, lending, M&A, and restructuring transactional communities.

"We congratulate the winners for their talents and commitment to excellence in executing growth generating deals. They represent the future of the industry as an invaluable team member at their firm. We are especially delighted to honor their outstanding achievements during these times of economic uncertainty as the recipient of the "rising golden star" personal trophy accolade and wish them many successes throughout their professional career and for many more years ahead." said Shanta Kumari, CEO and global group editor, at Global M&A Network.

Kendall Stafford was chosen based on her track record of success, compassionate leadership skills, and expanded M&A knowledge. Kendall commented regarding the award, "It is a tremendous honor to be recognized by the Global M&A Network as one of America’s top dealmakers. I am passionate about helping middle-market business owners achieve their exit strategies. I have been fortunate to have been given the opportunity to thrive in such a rewarding market.”

Kendall began as a Director at Benchmark International's US headquarters in Tampa, Florida. She now resides as the Managing Partner at Benchmark International's Austin office, where she continues to lead with compassion, empathy, and transparency, not only for her clients but for her team. 

Check out the full list of 2020 winners HERE, and again congratulations to Kendall Stafford for being acknowledged and receiving this prestigious award.

Cash for Kids launches Mission Christmas each year to provide gifts for children who may not receive a present under the tree on Christmas Day. In this tumultuous year, the charity needs donations more than ever as more families unexpectedly face poverty.

Working with community organisations, social workers, schools, other charities and the emergency services, Mission Christmas ensures gifts donated reach children living in poverty.

Inspired by the work the charity does, Benchmark International decided that in place of gifts for suppliers it would donate presents to Mission Christmas, which will be distributed to disadvantaged children across the North West, hoping to bring some Christmas cheer to families during these difficult times.

Calvin’s Electric is an electrical contractor that focuses on residential projects.  The company provides hardwire electric services for their clients’ projects while improving each customer’s electrical efficiency and providing electrical code compliance consulting as needed. They also offer 24-hour service for their existing customers.

Calvin’s Electric is based in Dripping Springs, a suburb of Austin, Texas, but the company services Austin and the surrounding area. They work with new home builders such as Ash Creek Homes, Brookfield Residential, Sitterle Homes, and Scott Felder Homes, to name a few.

In Charge LLC began in 2007 and provides residential production construction, custom residential and commercial construction, and retrofit services.  In Charge completes jobs that are production or custom and have vast expertise in the areas of electric options, smart home technology, and lighting. In Charge is headquartered in Round Rock, Texas, a suburb of Austin, Texas. Prior to the acquisition of Calvin’s Electric, they had seven locations in Texas.

Benchmark International proved value in finding a buyer with experience in the industry through its proprietary multi-medium marketing strategies.  Also, Benchmark International incorporated several campaigns with local, regional, and national associations. While clients are often hesitant to meet with local competitors, after speaking with both parties about their goals with a potential transaction, it was abundantly clear that there could be a great fit between them. After much work, we could get both parties in the same room where the great cultural fit emerged.

Deal Associate Amy Alonso commented, “We are excited to see that our client’s legacy will remain and prosper through this transaction. We understood that our client was seeking a company that would provide a succession plan for the company’s future while also providing a great work environment for their employees. On behalf of Benchmark International, we wish both companies continued success in the future.”

November 2020 Benchmark International facilitated the transaction between Associates in Pediatric Therapy (serving Kentucky and Indiana) and VersiCare Group of Detroit, MI.

The seller,  Associates in Pediatric Therapy, has provided therapeutic services to children with special needs in Metro Louisville, Lexington, Bowling Green, Erlanger, and Southern Indiana since 2007. Renea Sageser, CEO of APT, and husband Scott started with six part-time employees and grew to over 175 employees who serve patients in rural areas to receive high-quality care closer to their homes.

The buyer, VersiCare Group, is a Detroit, MI-based provider of home and community-based services for children and adults with intellectual and developmental disabilities.

“We are pleased to welcome APT to the VersiCare Family,” stated Lauren Sclesky, CEO of VersiCare. “When we decided to launch an aggressive growth plan in 2018, we targeted companies who share the mission in “helping people succeed” that has led to VersiCare’s success. With this new partnership, I am confident we can continue to provide best-in-class services across Kentucky and Indiana in addition to our other service areas.”

Benchmark International was fortunate enough to represent another highly sought after business opportunity with Associates in Pediatric Therapy.  “We had a lot of connections along the way.  We never know who he is going to put in our path.  We challenge ourselves every day to be better.  We are only here for a short period of time.  I pray we cross paths again one day.  Thank you and your team for their contributions,” stated CFO of APT, Scott Sageser.

Matthew Kekelis, Transaction Director with Benchmark International, added “Scott and Renea Sageser are truly the most caring clients whom I have ever had the pleasure of working with.  Their passion for providing quality care to children in need and providing a family environment for their staff is commendable. It deserves to be recognized.”

Benchmark International is pleased to announce the transaction between All-Star Fire, LLC (“ASF”) and Fire Safety and Protection, LLC (“FSP”), a portfolio company of Sunny River Management (“SRM”).

Benchmark International is pleased to announce the transaction between NEWGROUP (PTY) LTD and an Undisclosed Acquirer for the Regal Pet Health Brand.

NEWGROUP (PTY) LTD is a private company owning several brands in the complementary medicines and natural beauty sections including Herbex. NEWGROUP brands trade throughout South Africa and internationally.  The Regal Pet Health brand – A division of NEWGROUP– is comprised of a range of herbal remedies that offer the pet owner the tools to address the health of their pets naturally.

Eddie Bisset, Chief Executive Officer for NEWGROUP, commented on the transaction saying, “I would like to thank the full Benchmark team for the smooth facilitation of the Regal Pet Health Brand sale. The level of professionalism displayed by everyone from start to finish is unparalleled. As a first time seller, we were guided every step of the way, with no pressure or unanswered questions. Every concern, question or change of strategy was met with prompt courteous answers.”

The acquirer, is one of the top five companies in the Health and Beauty Industry with a growing footprint in the rest of Africa. The acquirer commented on the transaction: “It really was a pleasure working with Benchmark in facilitating this transaction. They were really on the button and extremely quick to give feedback in making things go as smooth and fast as possible.”

Tiaan Smit, Transaction Director at Benchmark International added, “Throughout the entire process all parties involved were communicative and collaborative, allowing the Benchmark team to execute a swift transaction. It was a pleasure to represent NEWGROUP (PTY) LTD in this transaction and we are delighted to have found a good home for the Regal Pet Health brand. On behalf of everyone at Benchmark International, we would like to wish all parties every success for the future.”

Benchmark International is pleased to announce our attendance at Kayo’s Healthcare Investment Forum on December 2, 2020.

The conference will explore why private equity finance has become such an attractive option for healthcare companies, with a focus on healthcare service, practice management, and healthcare tech.

Attendees include:

• C-Suite executives at public and private healthcare service and healthcare technology companies
• Venture capital, private equity, healthcare and private equity industry advisors, and lenders

Link to Forum Registration: https://kayoconferenceseries.com/summits/ 
Link to Agenda: https://kayoconferenceseries.com/healthcare/healthcare-investment-summit-agenda/ 

Kayo’s Healthcare Investment Forum

The conference will cover new technologies, new entrants, a shift to outpatient and home-based services, and the move towards value-based care continue to create new financial pressures for healthcare organizations. As healthcare leaders reimagine their services and transform operations, private equity is stepping up to help.

Kayo believes women should have a community that supports, elevates, and champions them. That’s why they create industry events where professional women can connect with leaders, advance themselves, and champion other women. They want women to know they’re stronger when they Trailblaze Together.