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…

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…

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…

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”…

ethics in investment banking merchant bank miami florida jaliz maldonado consulting

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…