Corporate Finance Advisory Services
for Middle Market Companies
Welcome to MidMarket
Our highly personalized, independent and specialized advisory services are designed to deliver meaningful results for middle market companies seeking to maximize equity value and complete business transactions.
We serve international and domestic private and public firms and their boards of directors, owners, and related fiduciaries and investor groups. MidMarket has helped hundreds of business owners to tackle financing and strategic transaction issues for over 30 years.
Overview
The partners in Philadelphia draw on experience in investment banking, corporate development and direct investing. We have served business owners and boards of directors on a wide range of corporate financial projects and transactions including debt and equity financing, mergers and acquisitions, recapitalizations, ESOPs, IPOs, strategic partnership analysis and corporate growth. We have the flexibility to work on projects on a completion fee or time-based fee structure as best suits the needs of our clients.
Areas of Practice
Strategic Advice
We apply market expertise to advise owners of their options along with specific details on the values, costs, terms and conditions for scenarios tied to balance sheet and cash flow data. We provide valuable insight on all the pieces to the puzzle so that owners have what they need to make informed decisions.
Mergers & Acquisitions
Our clients usually know who should buy their company or have already identified the business they would like to acquire. We help them formulate how to get that accomplished and are actively involved in every step to the finish line and beyond.
Growth Capital
We help clients raise debt and equity to fuel organic growth, acquisitions and recapitalizations to buy-out shareholders or make special distributions to owners. Sources of capital range from commercial banks to private equity funds and corporate partners.
Valuation Analysis
We help clients to realistically analyze the value of their own businesses and prospective acquisitions. Our work product ranges from structure-specific detail for negotiation of transactions to the formal reports customary for fiduciaries.
Tap into our expertise in corporate financial and strategic ownership transactions by scheduling a confidential one-on-one Virtual Consultation.
Recent Client Successes
Equity Growth Capital
Corcentric sold $80 million of Convertible Preferred Stock to Bregal Sagemount in a negotiated private placement to fund working capital and acquisitions. The financing process was led by Bank of America. MidMarket advised Corcentric in planning for the transaction, selection of agent and throughout the selection of investor and negotiation of the terms of the transaction through closing.
Strategic Acquisition
Corcentric completed the $32 million purchase of Determine, a leader in global Source-to-Pay and Enterprise Contract Lifecycle Management solutions. Corcentric is a fast-growing provider of procurement and financial process automation. MidMarket also provided advice to Corcentric on the acquisition of London-based Netsend Ltd which serves the global e-billing market as a SaaS provider and in connection with a $200 credit facility to support organic growth and acquisitions.
Growth Debt Financing
Corcentric completed a $200 million debt recapitalization by significantly increasing its revolving credit facility and introducing a term loan which involves a delayed draw provision to fund acquisitions. The financing was led by the Debt Capital Markets group of Stephens and MidMarket provided advisory support. Corcentric provides technology-enabled business-to-business solutions in accounts receivable workflow, procurement processes and accounts payable automation to a range of businesses across various industries.
Strategic Acquisition
STG finalized its $62 million purchase of Thompson and Co., a Tampa-based cigar retailer. Thompson is one of the industry’s oldest and largest retailers. Founded in 1915, Thompson was a pioneer in the cigar industry, becoming the first postal permit holder in the city of Tampa. Today, the business includes a mail-order catalog, an online website and a retail storefront. Its annual revenue is $100 million, making it one of the five largest cigar retailers. Thompson was also one of the last major retailers not owned by a cigar company.
Sale to Strategic Acquirer
Drew Estate is one of the fastest growing tobacco companies in the world. Under its mantra “The Rebirth of Cigars”™, Drew Estate has led the “boutique cigar” movement by innovating new elements to the tobacco industry with unique tobaccos and blending styles that have attracted new and old cigar enthusiasts. MidMarket assisted with strategic growth over seven years including an operating executive role and serving as corporate financial advisor in the sale of the business.
Increased Credit Facility
PJW Restaurant Group’s portfolio of 18 locations in Pennsylvania and New Jersey includes the four mostly casual dining concepts – P.J. Whelihan’s, The Pour House and Treno as well as the exclusive favorite The Chop House. The increased credit facility from Sun National with the participation of National Penn provides additional expansion financing as well as a liquidity component for ownership. MidMarket assisted in developing the financing structure and in negotiation of the credit facility.
