Quarter Three Middle Market M&A Report 2019

Quarter Three Middle Market M&A Report 2019

 

LUTZ BUSINESS INSIGHTS

 

quarter three middle market m&a update 2019

“MIDDLE MARKET VOLUME INCREASES DESPITE GLOBAL BUYER CONCERNS”

U.S. deal volume was strong during the third quarter 2019, with volume rising 1.6% compared to the second quarter 2019. Overall, M&A volume is up year-to-date from both 2018 and 2017. Sustaining these levels of activity may be difficult in an economy that some are expecting to slow down.

Average and median transaction values decreased 16.0% and 4.3% from Q2-19, respectively, as a result of fewer megadeals and an uptick in transaction volume. In terms of what is next for deals, consolidation and divestitures are likely to remain in the mix. Geopolitical uncertainty could impact cross-border M&A and the interest among foreign investors for U.S. companies.

RECENT POSTS

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

 

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

How Does the Business Sale Process Work?

How Does the Business Sale Process Work?

 

LUTZ BUSINESS INSIGHTS

 

how does the business sale process work?

bill kenedy, LUTZ consulting and m&a shareholder

 

The sale of a business is usually a long journey. Most business owners have never bought or sold a business and have no reference or understanding of what the sale process entails. For reference, The Exit Planning Institute surveyed business owners, where 66% stated that they were not familiar with their business exit options.

Lack of understanding typical issues often frustrates business owners during a sale. Properly educating yourself on how the business sale process works can greatly reduce this level of aggravation. The following are some of the key areas we’ve seen business owners struggle with during a sale process:

 

#1 Confidentiality of information and how non-disclosure agreements work

Confidentiality is a key component of a business sale. Having important company information leaked can be disastrous. In addition, employees who learn about the sale before it is announced or completed can often get spooked for fear of losing their job under new ownership. So, you can understand why it’s critical to keep confidential information private.

To ensure sensitive information in a business sale is not released to unintended parties, those participating in the transaction are typically required to sign a non-disclosure agreement. This agreement helps protect your confidential information via a legal agreement.

 

#2 The differences in negotiating with one party versus running a full M&A process

Negotiating with only one interested party can be a risky move. Hiring an M&A advisor can expand your sale options and greatly improve your odds of selling your business at the best price. M&A advisors have access to a pool of interested buyers where they can negotiate multiple offers at once to not only find you the best deal, but also provide you with a back up in the event a deal falls through.

Entertaining only one interested buyer can be easily related to say, buying a pair of running shoes. You’re an avid runner looking for the perfect running shoes to help you finish that race you’ve been working towards your entire life. Would you go in to the store and buy the first pair of shoes you see? The answer to that is no. Because you’ve invested so much of your blood, sweat and tears into training for this race, you can be sure you are going to explore all your options. This means get every last detail of information you can, while do multiple comparisons on all the different shoe types, brands and more. The same goes for selling your business.

 

#3 The level of detail involved in the due diligence process

The due diligence process is a thorough investigation into exactly how your business operates. It takes a deep dive into your financials, how your management team works, the business structure, assets, liabilities and other pertinent information. Buyers typically insist on a due diligence process to identify any concerns or issues that could impact their perception of the Company’s value.

 

#4 When to inform key employees about the transaction

As stated in issue number one, confidentiality is key. Knowing when and who on your team to inform about the sale of your business can be a tricky, yet important step in the sale process. Your M&A advisor can help you get a better understanding of the who and when in this situation.

 

#5 How company performance during the sale process can impact the success of the transaction

Lastly, the performance of your business during the sale process can indeed impact closing the deal. Making sure you are operating efficiently during this time can be difficult if you are distracted with deal related issues. That is why it is important to hire an M&A advisor to work out the details for you so you can focus your time and energy on what’s important; running your business.

In all, a business sale transaction involves many moving parts that work best together with the help of an M&A advisor. You may not fully understand the sale process yet, but your advisor can help guide you through to a successful closing. For more information on our Lutz M&A services, please contact us.

ABOUT THE AUTHOR

bill kenedy

402.492.2132

bkenedy@lutz.us

BILL KENEDY + LUTZ CONSULTING AND M&A SHAREHOLDER

Bill Kenedy is a Lutz Consulting and M&A Shareholder at Lutz. He specializes in business valuation, litigation support, and merger and acquisition advisory services.

AREAS OF FOCUS
AFFILIATIONS AND CREDENTIALS
  • American Institute of Certified Public Accountants, Member
  • Nebraska Society of Certified Public Accountants, Member
  • Certified Public Accountant
  • Accredited in Business Valuation
  • Certified in Financial Forensic
  • Certified Exit Planning Advisor
EDUCATIONAL BACKGROUND
  • BSBA in Accounting, St. John’s University, Collegeville, MN
COMMUNITY SERVICE
  • Construction Financial Management Association, Past Treasurer, Board Member
  • A Time to Heal (non-profit focused on cancer patients), Past Board Member

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

 

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

Understanding the Tax Implications of a Business Sale

Understanding the Tax Implications of a Business Sale

 

LUTZ BUSINESS INSIGHTS

 

understanding the tax implications of a business sale

bill kenedy, LUTZ consulting and m&a shareholder

 

Most business sale transactions are structured as ‘asset sales.’ This is where the buyer sets up a new entity that acquires the assets of the selling business. How a business is structured can have significant tax implications to a seller. In addition, how the company allocates its purchase price amongst its assets in the transaction will also affect its tax level. In this blog, we cover a few of the most significant issues we have seen surprise business owners.

 

C-Corps vs. S-Corps Taxation

Because C Corporations are legally considered a separate tax-paying entity, they are subject to a double layer of taxation when selling assets. A C-Corporation will first pay tax at the applicable corporate rate on the gain associated with the sale of assets being sold by the corporation. The shareholders will then pay taxes at capital gains rates when the remaining cash is distributed out of the corporation to the extent these proceeds exceed their basis in the corporate stock. One way C-Corps can avoid this double taxation is by doing a stock sale versus an asset sale. When a C-Corporation owner sells their stock, they only pay capital gains tax on the difference between the sale price and their basis in the stock. 

In contrast, S-Corps are pass-through entities which are not subject to tax but rather pass their tax attributes out to their owners. As a result, S-Corporations only pay taxes once, at the shareholder level, when selling their assets. Because of the single taxation, many small businesses choose to utilize the S-Corporation structure over a C-Corporation.

 

Depreciated Equipment

The amount of proceeds allocated to equipment (any property besides real estate), that has been depreciated for tax purposes, are taxed at ordinary rates, to the extent the asset was depreciated.

Example:

You purchased a machine in 2016 for $10,000 and, over three years, deducted $7,000 of depreciation. Three years later, in 2019, you sell this machine for $8,000. This means that the basis on the machine at the time of the sale would be $3,000 ($10,000 – $7,000 = $3,000). The gain on the sale would be $5,000 ($8,000 of proceeds less $3,000 of basis). All $5,000 of the gain would be taxed at ordinary rates since the $5,000 does not exceed the amount of depreciation deducted on the machine. If your gain is greater than the depreciation deducted for the piece of equipment, there is potential for a portion of the gain to be taxed at the lower capital gains rate.

 

Cash-Basis Companies

Many times, in our initial meetings with business owners considering a sale, they assume the asset sale price would be considered a 100% capital gain. However, this is often not the case, and it can have a material impact on the net proceeds the business owner receives after paying taxes. Aside from the example above for depreciated equipment, another example that can result in an owner paying taxes at ordinary rates we often see is a company utilizing the ‘cash-basis’ method. Using this method means a portion of the sale proceeds is allocated to Accounts Receivable.

For example, as discussed above in an asset sale, the sale price will be allocated to the various assets being purchased as a part of the sale. A portion of the sale proceeds will be allocated to accounts receivable. If the business has been utilizing the cash-basis method, it has not recognized income associated with these receivables. So, 100% of the proceeds allocated to these receivables would be taxed at ordinary income rates.

 

Both the sale structure (asset vs. stock sale) and how the proceeds are allocated amongst the assets, can have a material impact on the amount of taxes associated with the business sale. We recommend that, after gaining an understanding of the value of your business, you also take the time to determine the potential tax implications. Doing this will help you prepare your financial plan and consider if adjustments to the sale structure might result in a tax benefit on the sale. If you have any questions or need help determining the tax implications on your business sale, please feel free to contact us for assistance.

New call-to-action

ABOUT THE AUTHOR

bill kenedy

402.492.2132

bkenedy@lutz.us

BILL KENEDY + LUTZ CONSULTING AND M&A SHAREHOLDER

Bill Kenedy is a Lutz Consulting and M&A Shareholder at Lutz. He specializes in business valuation, litigation support, and merger and acquisition advisory services.

AREAS OF FOCUS
AFFILIATIONS AND CREDENTIALS
  • American Institute of Certified Public Accountants, Member
  • Nebraska Society of Certified Public Accountants, Member
  • Certified Public Accountant
  • Accredited in Business Valuation
  • Certified in Financial Forensic
  • Certified Exit Planning Advisor
EDUCATIONAL BACKGROUND
  • BSBA in Accounting, St. John’s University, Collegeville, MN
COMMUNITY SERVICE
  • Construction Financial Management Association, Past Treasurer, Board Member
  • A Time to Heal (non-profit focused on cancer patients), Past Board Member

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

 

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

Quarter Two Middle Market M&A Report 2019

Quarter Two Middle Market M&A Report 2019

 

LUTZ BUSINESS INSIGHTS

 

Quarter Two Middle Market M&A Report 2019

 “MIDDLE MARKET UPHELD BY LARGE DEALS IN SECOND QUARTER”

Despite growing concerns over a potential economic slowdown, middle-market companies fared generally well in the second quarter. During the quarter there were 3,095 announced M&A transactions with valuations of less than $1 billion, totaling $66.2 billion in aggregate (per Capital IQ).

Debt levels are once again holding equity values aloft as 2Q-19 valuations ran higher than Q1-19. While debt usage remains strong, there continues to be evidence that more business buyers are choosing conservative capital structures, perhaps hedging against the possibility of a future economic downturn…

 

RECENT POSTS

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

 

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

The Lutz M&A Client Experience + Exit Planning Success Story

The Lutz M&A Client Experience + Exit Planning Success Story

 

LUTZ BUSINESS INSIGHTS

 

The m&a client experience

An exit planning success story

The following is a story of Bob Henrichs and his experience working with Lutz M&A over a seven-year time frame. Bob recently sold his business with the help of Lutz M&A and his story is a good example of how proper planning can produce great results.

Bob Henrichs acquired The Walling Company back in 1985 where he had been employed since 1981. The company, headquartered in Omaha, Nebraska, is a distributor of engineered mechanical equipment to customers throughout the Midwest. They offer this highly engineered equipment to fit the unique mechanical requirements for all types of industries and utilities in today’s fast-paced, high technology world. The Walling Company (TWC) prides itself in being informed and aware of the most beneficial applications to keep its customers on the very forefront of progress. The emphasis on absolute integrity in serving engineers and companies with the ultimate in mechanical equipment has been responsible for continuous and substantial growth since 1946. 

During 2012, Bob was approached by a large competitor that was aggressively buying up companies to fulfill their growth plan. During his tenure as owner, Bob had grown the business significantly, and at the time of the opportunity with this buyer, the company was profitable with revenues of $6.8M. At this time, Bob was approaching the age of 60 and was intrigued by the possibility of cashing out of the business. On the recommendation of his banker, Jason Hansen at American National Bank, Bob contacted Bill Kenedy at Lutz M&A to get advice on valuing his company, and assistance in negotiating a potential sale. Here the story begins.

 

Initial Meeting

In the fall of 2012, Bob met with Bill Kenedy and Ryan McGregor of Lutz M&A to discuss the potential sale of TWC to a large competing business. This initial (no cost!) meeting was filled with questions to Bob regarding the business. Topics included entity type, cash flow of the business, history of growth in the business, employee base/management team, etc. In turn, Bob had many questions for Lutz regarding how the sale process works, taxes, post-sale requirements, etc. As a result of the meeting, Bob hired Lutz M&A to prepare a valuation analysis specific to the purpose of potentially selling the business – at a cost to Bob of about $1,500 to $2,000.

 

Results of Initial Analysis

The initial valuation project uncovered several key issues that Bob did not know prior to hiring Lutz M&A:

  • Due to the company being a C-Corporation, and the buyer expressing an interest in buying the assets of TWC, the tax consequences of a sale of TWC assets were punitive. This issue alone made Bob unwilling to pursue the sale.
  • Even without the negative tax consequences, Bob did not believe selling TWC at a fair price was right for him at that time. Bob still enjoyed working in the business, and the profit he made each year was significantly more than what he would earn by investing the net proceeds from a sale.
  • Bob had grown a successful business and had several long-term, key employees, but ultimately if Bob were not there, the company would struggle to survive. This meant that if Bob had pursued a sale, he would have likely had to stay employed for the buyer for a few years until a replacement was identified and trained.
  • Bob and TWC did not have a CPA. Bob’s brother, a former CPA working for a private business, was preparing Bob’s tax returns annually. Due to the complexities involved with the transition planning Bob saw ahead of him, he decided to hire Lutz to help him with tax advice and preparation of tax returns.

At the end of the initial valuation analysis, Bob determined that he did not want to pursue a sale at that time. He decided to continue operating TWC as he had previously but adding Lutz as the CPA firm for TWC.

 

Next Steps

TWC continued its steady growth, and several more meetings between Bob and Lutz occurred during 2013 and 2014. The first simple move was to make an election to have TWC taxed as an S Corporation. This election did not cause any tax liability for the business and was a simple way to limit the taxes on its sale in the future (at least five years after election). 

Next, Lutz assisted Bob with identifying the key value drivers of his business to help him think about ways to increase its value. One piece of advice was to consider hiring a higher-level employee to take over some of Bob’s responsibilities. Initially, Bob did not like this idea, as it did not make sense to him to hire someone to do things that he could do relatively easily.

 

Instead of Selling the Business, Let’s Buy a Business!

In early 2015, Bob received a call from the owner of The Donald Corporation (TDC), a friendly competitor located in Ankeny, Iowa. The owner, who was in his 70’s, had decided he wanted to sell his business and that Bob and The Walling Company would be a good fit. Bob met with the owner and came back with financial information to share with Lutz.

Over the next several months Lutz worked with Bob on negotiating the acquisition of TDC. They tackled how to structure the business in the most tax-effective manner and how to integrate accounting between companies. The transaction closed successfully in the middle of 2015, and TWC was now operating with significantly more revenue, profit, employees and territory. The acquisition opened the door for TWC to customers in several new states and was immediately paying dividends.

 

Get the Monkey Off Your Back

The success of the TDC acquisition was apparent early on, and so was the additional burden on Bob’s daily routine. By early 2016, TWC was humming along, and Bob was now at 60 years of age. Although Bob was still enjoying the business, he was looking to spend some more time enjoying his success.

Lutz had repeatedly been telling Bob that he should look to hire a high-level person to take over most of the day to day operational functions. The only way Bob would be able to sell TWC eventually and retire was to have people in place to run the business without needing Bob around. Bob was skeptical but agreed to try to find someone to fit this role. 

Bob tried on his own and also hired an executive search firm recommended by Lutz Talent to assist. After meeting with several candidates, the executive search firm introduced Bob to Rob Barie. Bob had a good feeling about Rob and after several meetings agreed to hire Rob for the role. 

This was a difficult decision for Bob; he had to pay a significant salary to get someone of Rob’s caliber into his business. In fact, it cost Bob about 10% of his prior year profit to hire Rob. However, knowing that it was a critical move for him to be able to exit from the business someday, he gave it a try.

Rob learned the business quickly and meshed well with the other employees of TWC. He brought new ideas, advanced the company’s technical capabilities, and quickly proved to be a valuable asset to the company. 

Shortly after being hired, Rob mentioned to Bob that he had an interest in buying the company when Bob was ready. He stated he had some financial backing and was willing to work with Bob on this in the future. This idea sounded good to Bob. Rob would know the business and employees, and there would be less of a disruption in the business if Rob purchased it, as opposed to an outside third party.

 

The Time is Right

At the beginning of 2019, Bob decided he was ready to sell the business to Rob. Bob was comfortable with Rob taking over and was ready to start his new phase in a post-sale role. Bob and Lutz developed a reasonable valuation for the business and provided the information to Rob. 

At that point, Rob hired his own team to assess the value of the Company and prepare an offer to purchase the business. After minimal negotiations and coordination with the company’s bank (still Jason Hansen at American National Bank!), a deal was struck. The transaction closed July 31, 2019, and all parties were happy with the sale and the overall process. 

From the time that Bob first met with Lutz, the top-line revenue and total value of the business almost doubled. Additionally, due to the proper tax planning, the tax bill as a percentage of the sale price was practically cut in half! 

The combination of Bob’s expertise, the acquisition of TDC, the hiring of key employees and strategic (including tax) planning from 2012 to 2019 produced a fantastic experience for Bob Henrichs of the Walling Company. His story is a perfect example of how putting effort into transition (exit) planning can pay off. Bob will tell you that it was not that hard to do. It took some time and some money, but the return on investment was incredible, financially and for the peace of mind knowing the company he built was in good hands.

ABOUT THE AUTHOR

bill kenedy

402.492.2132

bkenedy@lutz.us

BILL KENEDY + LUTZ CONSULTING AND M&A SHAREHOLDER

Bill Kenedy is a Lutz Consulting and M&A Shareholder at Lutz. He specializes in business valuation, litigation support, and merger and acquisition advisory services.

AREAS OF FOCUS
AFFILIATIONS AND CREDENTIALS
  • American Institute of Certified Public Accountants, Member
  • Nebraska Society of Certified Public Accountants, Member
  • Certified Public Accountant
  • Accredited in Business Valuation
  • Certified in Financial Forensic
  • Certified Exit Planning Advisor
EDUCATIONAL BACKGROUND
  • BSBA in Accounting, St. John’s University, Collegeville, MN
COMMUNITY SERVICE
  • Construction Financial Management Association, Past Treasurer, Board Member
  • A Time to Heal (non-profit focused on cancer patients), Past Board Member

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

 

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

Lutz M&A Advises Midwest Scaffold Service on its Sale to Sunbelt Rentals

Lutz M&A Advises Midwest Scaffold Service on its Sale to Sunbelt Rentals

 

LUTZ BUSINESS INSIGHTS

 

LUTZ M&A ADVISES MIDWEST SCAFFOLD SERVICE ON ITS SALE TO SUNBELT RENTALS

BILL KENEDY, LUTZ CONSULTING AND M&A SHAREHOLDER
bob loewens, LUTZ M&A manager

 

Lutz M&A announced that it served as exclusive financial advisor to Midwest Scaffold Service (“MWSS” or the “Company”), in connection with its acquisition by Sunbelt Rentals, a wholly owned subsidiary of Ashtead Group (LSE:AHT). Based in Omaha, Nebraska, MWSS rents, constructs and dismantles a fleet of scaffolding and related equipment including sectional, systems and swing stage scaffold, plastic enclosures and trash chutes. In addition to its Omaha headquarters MWSS has offices in Des Moines, Iowa, and Denver and Colorado Springs, Colorado. Ashtead Group is an international equipment rental company headquartered in London. Sunbelt Rentals, the second largest equipment rental company in the U.S., is the largest of Ashtead’s three operating subsidiaries. Sunbelt’s acquisition of MWSS closed in September 2019.

Midwest Scaffold Service was founded in 2002 by Company President Tim Weber, who had extensive industry experience prior to founding MWSS. Over the years Mr. Weber and MWSS’ reputation grew in the Omaha market eventually leading to it becoming the leading scaffold rental Company in the area. Further, opportunities arose in 2007, 2011, and 2012 to open branches in Denver, Colorado Springs and Des Moines, respectively. Mr. Weber will remain with Sunbelt in a consulting role for one year following the transaction. However, Mr. Weber’s son, Rusty Weber, will continue under Sunbelt’s ownership in his current role as head of the Omaha operations.

Mr. Weber stated, “MWSS’s new ownership under Sunbelt is an ideal scenario for the Company and our employees. Their financial capacity will allow us to expand our rental fleet to further serve our existing markets.” On working with Lutz M&A, Mr. Weber said, “Lutz represented MWSS very well and brought multiple options to the table, allowing us to evaluate the best new owner for our Company.”

Commenting for Lutz M&A, Bob Loewens added, “We appreciated the opportunity to work with Tim and MWSS on this transaction. Sunbelt made perfect sense as a buyer with their strategic interest in developing a scaffold presence across the Midwest. We are happy of the outcome for Tim and his Company.”  

About Lutz M&A, LLC: Lutz M&A is a Nebraska-based mergers and acquisitions advisory firm, serving lower middle-market businesses in the Midwest across a range of industries. Lutz M&A is committed to providing its clients with a comprehensive, skilled and professional marketing process not typically available to smaller market companies. For more information, visit www.lutz.us.

About Ashtead Group:  Ashtead is an international equipment rental company with national networks in the US and the UK and a small presence in Canada. It rents a full range of construction and industrial equipment across a wide variety of applications to a diverse customer base.  For more information, visit www.ashtead-group.com.

 

MSS

Lutz M&A was the exclusive financial advisor to Midwest Scaffold Service.

 

Lutz M&A was the exclusive financial advisor to The Walling Company

 

Acquired by Platform Capital.

Lutz M&A served as the exclusive financial advisor to Perrin Manufacturing.

 

 

Acquired by Christensen Farms.

Lutz M&A served as the exclusive financial advisor to SmithCo Manufacturing Inc.

 

Fantasy's Logo

 

Acquired by Casey's General Stores.

Lutz M&A served as the exclusive financial advisor to Fantasy's, Inc.

 

eX2 Technology

 

Acquired by Columbia Capital.

Lutz M&A served as the exclusive financial advisor to eX² Technology.

 

AcquireWeb

 

Acquired by Claritas, Inc.

Lutz M&A acted as the sell-side advisor to AcquireWeb

 

C&W Transportation logo

 

ACQUIRED BY PLATFORM CAPITAL.

Lutz M&A was the exclusive financial advisor to C&W

 

 

ACQUIRED BY EVOLVE CAPITAL.

Lutz M&A was the exclusive financial advisor to Hands of Heartland

 

ACQUIRED BY GREAT RANGE CAPITAL.

LUTZ M&A WAS THE EXCLUSIVE FINANCIAL ADVISOR TO LABOR SOURCE LLC

CCW, LLC

huhot

 

Acquired by SUN CAPITAL PARTNERS, INC.

Lutz M&A was the exclusive financial advisor to CCW, LLC

Triage

 

ACQUIRED BY MCCARTHY CAPITAL.

Lutz M&A was the exclusive financial advisor to Triage Staffing

Hockenbergs Logo

 

ACQUIRED BY TRIMARK USA LLC 

Lutz M&A was the exclusive financial advisor to Hockenbergs

Linoma Software

 

Acquired by Help/Systems, LLC

Lutz M&A acted as the sell-side advisor to Linoma Software

MDH

 

Lutz M&A was the exclusive financial advisor to Midwest Door & Hardware

nifco

 

Lutz M&A was the exclusive sell-side advisor to NIFCO Mechanical

HKS Medical Information

 

Acquired by ARGENTA PARTNERS LP

Lutz M&A was the exclusive financial advisor to HKS

Infinity Data Solutions

 

Acquired by WORLD DATA PRODUCTS

Lutz M&A was the exclusive financial advisor to Infinity Data Solutions, LLC

Provider Plus

 

Lutz M&A was the exclusive financial advisor to Providers Plus

M7

 

MAJORITY RECAPITALIZATION

Lutz M&A was the exclusive financial advisor to M7 Logistics

Smeal

 

MANAGEMENT BUYOUT

Lutz M&A was the exclusive financial advisor to Smeal Manufacturing

ABOUT THE AUTHOR

bill kenedy

402.492.2132

bkenedy@lutz.us

BILL KENEDY + LUTZ CONSULTING AND M&A SHAREHOLDER

Bill Kenedy is a Lutz Consulting and M&A Shareholder at Lutz. He specializes in business valuation, litigation support, and merger and acquisition advisory services.

AREAS OF FOCUS
AFFILIATIONS AND CREDENTIALS
  • American Institute of Certified Public Accountants, Member
  • Nebraska Society of Certified Public Accountants, Member
  • Certified Public Accountant
  • Accredited in Business Valuation
  • Certified in Financial Forensic
  • Certified Exit Planning Advisor
EDUCATIONAL BACKGROUND
  • BSBA in Accounting, St. John’s University, Collegeville, MN
COMMUNITY SERVICE
  • Construction Financial Management Association, Past Treasurer, Board Member
  • A Time to Heal (non-profit focused on cancer patients), Past Board Member

402.778.7955

bloewens@lutz.us

LINKEDIN

BOB LOEWENS + LUTZ M&A MANAGER

Bob Loewens is a Lutz M&A Manager with over nine years of experience. He specializes in business valuations, financial consulting, and M&A advisory services.

AREAS OF FOCUS
  • Mergers & Acquisitions
  • Business Valuation
  • Financial Consulting
AFFILIATIONS AND CREDENTIALS
  • CFA Society Nebraska, Member
  • Chartered Financial Analyst
  • Certified Valuation Analyst
EDUCATIONAL BACKGROUND
  • BSBA, University of Nebraska, Omaha, NE

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

 

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850