The Middle Market Business and Private Equity Outlook for 2020 | Calkins Law Firm

The Middle Market Business and Private Equity Outlook for 2020

December 10, 2019

Event Recap:

Our meeting on September 20 was a great discussion with Dan Kessler of Cyprium Partners. Dan ably pinch hit for Cindy Babitt who was called out of town on a new deal on the West Coast.

David Brown put Dan through his paces regarding the firm’s model and competitive advantage over other PEs. Dan stated that Cyprium’s edge in the lower middle market is its ability to keep existing owners/leaders at the target company post close while providing that same owner with much desired liquidity. Since Cyprium generally acquires a minority equity position, the existing shareholders can preserve their upside and business leadership. Cyprium’s investors provide them much welcomed strategic input, and capital to enhance growth.

Cyprium’s targets are industrial, health care and business services companies with at least $8M in EBITDA. The firm prefers to invest between $10-60M per transaction. In that market, Dan sees continued strong deal activity for the next couple of years.

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