Middle Market Blog

McCombie Group’s lower middle market blog offers a variety of insights catered towards middle-market business owners.  We our proud that Forbes turns to our founder as an ongoing Contributor to provide insights into middle-market M&A, strategy, and restructurings.

Honesty Is A Seller’s Best Policy

This article was originally published in Forbes. Signing a letter of intent (LOI) that outlines the key provisions of a prospective deal is an exciting milestone for sellers, who have likely spent a great deal of time, energy, and money getting to this point.  But, once the LOI is executed, the seller’s negotiating power decreases…

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Business Owners: Sell Now… or Forever Hold Your Peace?

This article was originally published in Forbes and “Deal Points” (Winter 2021 edition), the official newsletter of the Mergers and Acquisitions committee of the American Bar Association. Recent events have created an unprecedented sense of urgency amongst business owners to consider selling their businesses.  The unexpected Georgia election results and resulting Democratic sweep all but…

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M&A May Boom In 2021—Here’s Why

This article was originally published in Forbes. A recession is not typically an ideal climate for M&A activity to flourish. But this recession, and our world right now, is anything but typical. Our firm has fielded an unusually high number of calls from business owners worried by the unknowns of the global pandemic, the state…

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Main Street Lending Explained By The Banker Responsible For 40% Of These Loans Nationally

This article was originally published in Forbes. With the popular Paycheck Protection Program (PPP) currently closed and Congressional negotiations over a next round of stimulus stalled, where can a small or middle-market business hit hard by the pandemic turn for capital? One avenue still open to qualifying companies is the Federal Reserve-backed Main Street Lending…

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COVID-19 May Compel Reimagining the Turnaround Business Model

This article was originally published in the Journal of Corporate Renewal (JCR), the official publication of the Turnaround Management Association (TMA). With each passing day, turnaround advisors, bankruptcy attorneys, and other supporting professionals answer the call as more and more businesses fight for their lives. Some of these businesses will implode from the pressures of the coronavirus…

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When the Fed’s Unlimited is Irrelevant

All the king’s horses and all the king’s men couldn’t put Humpty together again. I’ve been thinking about that nursery rhyme these days as the federal government throws Trillions of dollars at this deepening economic crisis, even as Bain’s big thinkers are projecting that in just two months of COVID-19 mitigation efforts, we will likely…

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Demystifying COVID-19 Relief Loans

Seemingly, every hour brings more news of death, pain, anxiety and fear as the world navigates a global pandemic. Like you, we have been closely following the news about federal and state relief efforts for our severely battered small businesses, including new low-interest loans offered through the U.S. Small Business Administration and the U.S. Treasury.…

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Demystifying EBITDA add-backs

This article was originally posted on South Florida Business Journal. If you’ve ever spoken with an investment banker or broker about selling or raising capital for your business, you’ve undoubtedly heard about EBITDA. EBITDA — or earnings before interest, taxes, depreciation and amortization — is a widely used earnings metric, particularly when quoting valuation “multiples”…

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Preparing for the Next Amazon

The next Amazon is out there, and it’s coming for your company. Business disruption is a constant threat. There will always be another company looking to take market share from your business — or worse, replace you entirely. The threat of business disruption is something you hear about constantly in the news. It’s common to…

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Navigating Trade Uncertainty

This article was originally featured in the South Florida Business Journal. Since President Trump took office, the news media has covered the so-called trade war ad nauseam. Businesses are paying attention too. A U.S. Chamber of Commerce survey found that 158 Fortune 500 companies discussed the impact of tariffs and ongoing trade tensions on earnings calls in…

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The WeWork Debacle: Ethics in Investment Banking

The Emperor Isn’t Wearing Clothes WeWork is Silicon Valley’s latest fallen angel.  The co-working start-up raised an enormous amount of cash from venture capital firms, with a final private valuation of $47 billion (roughly ten times the valuation of its profitable peer).  But, when the company took its first steps to go public in August…

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Are you a micromanager?

Are You a Micromanager?

“Micromanagement is bringing in a team of smart, talented people and crushing their souls by telling them what font size to use” – Chieh Huang. In 2013, Chieh Huang founded Boxed, an online wholesale retailer.  Like many founders, he started the company in his garage. He packed boxes by hand with a few employees.  The…

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How Much is Your Business Worth?

Whether you plan to sell your business, bring in new partners or seek growth capital, you need to know the value of your company.  That means taking a realistic perspective, rather than setting your expectations too high. When preparing a formal valuation, an accountant is likely to use one or more academic methods for determining…

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Don’t Sell Your Business to the Wrong Buyer

About 75 percent of business owners “profoundly regret” selling their business one year after finalizing the deal, according to the Exit Planning Institute Survey.  One of the prime reasons for their unhappiness is closing the sale with the wrong buyer. After all, every seller and buyer has a certain set of goals, values and priorities.…

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Selling is Not a Binary Decision

Generational transitions require capital and a renewed commitment to the business. They can force difficult decisions, including whether to sell, although other alternatives may be superior. Many owners dream of keeping their business within the family for generations, yet this becomes increasingly difficult over time. Ownership stakes become dispersed among family members whose priorities are…

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