Middle Market M & A: Handbook for Investment Banking and Business Consulting 1st Edition

Middle Market M&A: Handbook for Investment Banking and Business Consulting was written by Kenneth Marks, Robert Slee, Chris Blees and Michael Nall and published by John Wiley and Sons. None of the authors are strangers to middle-market M&A.There are numerous books that deal with mergers and acquisitions. Does the body of literature about M&A really need another book? Is this just a rehash of the same-old, same-old? Does Middle Market M&A has something fresh and useful for the reader?Any book that facilitates sound dealcraft is a welcome addition to the body of M&A knowledge. The Middle Market M&A handbook is a worthwhile addition.One of the decided differences about Middle Market M&A compared to other works is its unambiguous focus on the middle market written by practitioners who live it. Its voice is clear and that is refreshing.The book articulates the middle-market mindset. It’s not about main street—mom and pop businesses. It’s not about Wall Street Megadeals. However, practitioners of both can find fresh perspective on the middle market. Moreover, mid-market acquirers and sellers will benefit from this work by gaining a deeper appreciation of the M&A process and the mindset of the intermediaries who specialize in the market’s unique needs.This publication reflects the continuous evolution and maturity of the middle-market advisory and transaction specialist. Much of its richness is drawn from the material and shared experiences of the instructors and students of the Certified Merger and Acquisition Advisor (CM&AA) certification offered by the Alliance of Merger and Acquisition Advisors (AMAA).Middle Market M&A steps the reader through the M&A process and market—both domestic and global. But the book is more than a technical treatise on deal making. While it includes a great deal of technique and operating knowledge, one of its most valuable characteristics is that it provides a “market perspective.” The book’s content is more accessible because of this context.Much of this market perspective is inspired by Rob Slee’s work on Private Capital Markets, an area that is under-covered in the business press and our educational system. Not surprisingly, Rob Slee is one of the book’s authors.Given its size, the Middle Market M&A handbook can’t drill down into the subject matter, but it does provide an excellent overview and framework for mid-market dealcraft. It’s well organized and a dealmaker can refer to the sections that address the challenges they are facing at any given stage of the deal process.If you are in the middle M&A market—whatever the role—this is a book you will want to read and keep handy.

Kenneth Marks, Robert Slee, Christian Blees, and Michael Nall capitalize on their combined experience to offer their readers a nice overview of the middle market M&A. A middle market company is defined as one with $5 million to $1 billion in revenues. The authors subdivide their examination of the middle market M&A into three sections:1. The Middle Market: This section offers a high-level view of the private capital markets in the U.S. and abroad, valuation, and corporate development.2. The M&A Practice and Processes: The second section is a mixed bag of topics that include practice management, sell-side and buy-side representations and processes, mergers, and professional standards and ethics. The two chapters dedicated to the sell-side and buy-side representations and processes are by far the most interesting chapters in this section.3. M&A Technical Discussions: This last section is the meat of the book under review. Chapters of particular interest are those covering financial analysis, deal structure and legal documentation, M&A tax issues, financing sources and structures, and market valuation.In summary, the Middle Market M&A Handbook is a useful reference for middle market business owners and their internal/external advisors.

Really great read. Coming into the middle market space from a different area of private equity, this was a super helpful primer that I'll likely be referencing for years to come.

If you've been busy growing your business, you probably have not been spending time understanding the in's and out's of mergers & acquisitions. Most executives only do a transaction once in their business career. This book will get you up to speed on the process and most importantly valuation. Great read, plus it might save you a lot of money in investment banking fees ;-)

The authors provide a succinct view of markets, valuation, and the M&A process while offering excellent tips, and things to be considered in each phase of a deal. It's a very useful tool to refer back to as you work on a deal to make sure all the bases are covered. The discussion of market valuation and deal structure should be must reads for any seller who is trying to gain some objectivy.William Malone, Intermediary, Corporate Investment International of North Florida, Inc.

I have been working in Middle Market M&A for 30 years and have A LOT of M&A books. This one is among the best. It is LOADED with good information.This book is an absolute must for someone fairly new to the profession. It is also good reference for those that are more experienced. Everything is in one spot and there is a decent amount of detail on any one subject.It is clear to me that the authors are knowledgable.

I've been in M&A for almost 20 years and obtained the CM&AA around 2006. I heard about the book at an AMAA conference. Great refresher course and some new bits of info. I am going to give it to my associate to read becasue it is comprehensive, complete and easy to understand. I recommend it for beginner through intermediate M&A professionals of all stripes. Great work guys!

Great book for those in the industry.