Tag Archives | buyouts

watsons bay

Culture and Investment: Winning Platform or Ship Wreck?

I had the pleasure of seeing Biz Stone, co-founder of Twitter, at a recent conference in Las Vegas. While he and I are wired quite differently (maybe a reason his net worth has a ‘B’ in it), he noted several compelling tenets and principles he used to drive the cultural development of Twitter. And we […]

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kid with mask upside down

Wall Street Journal misses on Bank article

While I have great respect for WSJ’s reporting overall, I think they got several material points wrong in a recent article on banking (“Banks Sit Out Riskier Deals – Regulatory Pressures Push Some Lenders to Let Lucrative Deals Go” 01/21/14). Based on my experience from front-line leveraged lending and my privilege of being involved with […]

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Value Maximization article published by Axial

The Gaffin Group was pleased to have an article on value maximization published on the Axial network. The Gaffin Group Founder and President, Mark Gaffin, discussed the on-going research effort in this area. “Our Group continues its research efforts into private capital formation and the middle market. An important area of discovery is now the […]

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201304_confused_woman

Is LBO Lending Specialized?

“Ignorance more frequently begets confidence than does knowledge”. – Charles Darwin I am often asked whether middle market LBO lending is specialized. To a great extent, the answer is “yes”. Certainly, there are essential elements of transaction analysis, underwriting, and account management in middle-market leveraged deals that require a more sophisticated approach than is typically […]

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201304_car_salesman

The CIM…sales document or due diligence?

In larger middle market transactions we typically see senior and junior debt facilities with multiple lenders. Given tight timeframes in most LBO transactions, a delicate balance is struck between how much reliance can be placed on the confidential information memorandum (the “CIM”, also known as a bank book, etc.) and how much will be invested […]

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paper and dagger

WSJ Weekend Investor Really Misses the Mark on Private Equity

Mark Hulbert was busy elbowing his way onto the anti-private equity bandwagon on July 5th with his confusing dispatch “Real Returns: Are Private-Equity Gains Built to Last?” Mr. Hulbert heroically ignores a large body of readily accessible research and data to precariously perch his pejorative premises on quite arguable findings from a single, tax-return driven […]

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Axial’s “17 Must-Read M&A Quotes from 1H 2013” – Gaffin Group cited

The Gaffin Group is honored to have Mark Gaffin cited as one of the must read quotes on M&A for the first half of 2013. Mr. Gaffin noted: “We are pleased that our research findings are be included in such a compelling list. As we noted in a prior post, we were interviewed for our […]

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