2018 Mid-year commentary on the U.S. Appraisal Market – change is coming

Posted in M&A, FinTech By John Mathis

2018 Mid-year commentary on the U.S. Appraisal Market – change is coming

The Appraisal world is under intensifying pressure that will likely accelerate the pace of M&A consolidation.  We see the new “registry” component of the Dodd Frank rollback as another potential catalyst for consolidation in the fragmented appraiser and Appraisal Management Company (“AMC”) arenas.  In this note we highlight where the market is pricing transactions given recent notable deals, including CoreLogic’s high water mark of 13.5X EBITDA. While the larger captive AMCs appear to have satiated their acquisition appetite for now, we see newcomers gaining ground, particularly those with private equity backing, including LenderLive and Class Appraisals or public companies like Altisource (NASDAQ: ASPS) and Real Matters (TSE: REAL).  Further, the savvy independents are sure to make a play at accelerating growth through acquisition including Clear Capital, Dart Appraisal, LRES, Pro Teck and The William Fall Group.

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2018 Outlook for Technology and Services

2018 Outlook for Technology and Services

In the past year over 8,000 middle market M&A and investments worth nearly $150bn in transactions were completed. In 2018, we, like many others, see a healthy M&A horizon ahead and expect overall M&A trends to continue or even accelerate with recent tax law changes and cash repatriation by multinationals. However, there is no question that valuations have increased as this economic expansion is moving into its tenth year. Further, as the credit markets appear very open and companies and funds appear to have ample capital available, M&A should continue to see more than its share of capital action.  Although expectations are running high that business conditions will continue to improve, there is the looming thought that the bull market will not last forever.

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Harbor View’s John Mathis appears on CNBC

Posted in M&A By Shannon Italia

Harbor View’s John Mathis appears on CNBC

Harbor View's John Mathis appears on CNBC to discuss technology M&A implications as a result of the December 19 tax reform bill. 

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Harbor View Weighs in on $100bn Tech Heavyweight Transaction

Posted in M&A By Margaret Cobb

Harbor View Weighs in on 0bn Tech Heavyweight Transaction

On Monday, Harbor View Partner John Mathis joined Bloomberg Markets' Carol Massar and Cory Johnson to discuss the recent headline-making combination of technology titans Broadcom and Qualcomm. 

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The Corporate M&A Brand – Winning the War for Acquisitions

Posted in M&A By John Mathis

The Corporate M&A Brand – Winning the War for Acquisitions

For most technology and services companies, acquisitions are an important part of their growth strategy.  However, corporate M&A is often an inefficient, reactive process with limited resources and infrastructure.  With a dramatic increase in M&A activity and the growing footprint of large private equity funds, the “War for Acquisitions” is increasing in its intensity.  Wall Street continues to ratchet up growth expectations for successful companies, and M&A is one of the most effective ways to show growth in revenue and earnings in a short period of time.  M&A deals can be incredibly impactful in today’s environment where innovation and time-to-market timelines are compressed.  The companies that continue to view their acquisition programs passively are at a distinct disadvantage to their competitors and the often-nimbler private equity buyers.  The War for Acquisitions is on – it’s time to get proactive.

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Private Equity Trends in the Middle Market

Posted in M&A By Margaret Cobb

Private Equity Trends in the Middle Market

With persistently low interest rates and public equity market indices hitting record highs, investors have increasingly turned to private equity funds in their search for returns. In this low-return environment, private equity funds have enjoyed unprecedented fundraising success, accelerating the decades-long surge in private equity assets and new fund formation.

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