FOCUS Investment Banking Arranges Financing for VfD Technologies Acquisition of Isimac Machine Company
Vienna, VA (November 5, 2020) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services announced today that VfD Technologies, Inc. (“VfD”) has obtained subordinated debt financing from Tecum Capital to fund its acquisition of Isimac Machine Company, Inc. (“Isimac”). The FOCUS’ Advanced Manufacturing & Automation Team represented VfD in the transaction.
FOCUS U.S. Communications Service Provider Quarterly: Fall 2020 Report
Public Markets For the second straight reporting period the FOCUS ...
FOCUS Telecom Business Services Quarterly: Fall 2020 Report
Public Markets
For the second straight reporting period the FOCUS Tele- com Business Services Index (TBSI) managed a positive return but still underperformed the broader indices. The TBSI gained 1.0% over the past three months, but the S&P 500 and NASDAQ gained 8.5% and 11.0%, respectively, over the same time frame. The TBSI remains in negative territory for the full year period with a drop of 5.7%. Once again this compares unfavorably to strong gains in both the S&P 500 (up 13.0% year-over-year) and the NASDAQ (up 39.6% year-over-year).The sector revenue multiple held steady compared to the year-ago period at 0.6x. However, the sector EBITDA multiple has declined over the past 12 months from 8.5x to 7.4x.
FOCUS Carrier-Focused Telecom Technology Quarterly: Fall 2020 Report
Public Markets
FOCUS’ Carrier-Focused Telecom Technology Index (CFTTI) returned to the red this period with a three-month loss of 1.3%. This looks particularly bad in the context of the performance of the broader indices, with the S&P 500 up 15.0% and the NASDAQ up 24.1% over the corresponding time period. The sector still remains in positive territory for the full year with a 12- month gain of 3.1%. Even so, this gain significantly underperformed both the 19.9% gain in the S&P 500 and the 46.9% gain in NASDAQ over the past year. Multiple performance for the CFTTI is mixed.The sector revenue multiple ticked up slightly from 2.2x a year ago to 2.3x currently, while the sector EBITDA multiple declined from 11.9x to 11.3x.
FOCUS Investment Banking Represents Nokian Tyres’ Vianor Stores in the USA in a Sale to Gill’s Point S Tire & Auto Service
Washington, DC, (September 17, 2020) — FOCUS Investment Banking, a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, with a specialty in the automotive aftermarket, announced today that Nokian Tyres company-owned Vianor Stores in New England have been acquired by Gill’s Point S Tire & Auto Service. FOCUS represented Nokian Tyres in this transaction.
FOCUS Enterprise-Focused Telecom Technology Quarterly – Summer 2020
Public Markets
After dipping slightly in our spring report, the Enterprise-Focused Telecom Technology Index (EFTTI) roared back in our summer period to past a three-month gain of 23.9%. Every single sub sector in the index was in positive territory, and three of the five sub sectors posted double digit gains.The EFTTI’s gains compared favorably to both the 12.3% gain in the S&P 500 and the 20.9% gain in the NASDAQ over the corresponding time period.This period’s strong performance was also good enough to bring the sector into the black for the full year period with a gain of 10.4%.This is on par with the year-over-year gain in the S&P 500 of 9.8%, but significantly lags the 31.4% gain in the NASDAQ. Sub sector multiples recovered nicely and are now higher than they were this same time last year. The sector revenue multiple increased from 4.8x to 5.3x, while the sector EBITDA multiple inched up from 20.0x to 20.9x.
FOCUS Investment Banker Michael McGregor Discusses Tire Dealership M&A
In the wake of COVID-19, you might be wondering if merger and acquisition (M&A) activities at the tire dealership level have kicked the bucket. According to MTD research, rumors of that demise have been overstated. Just compare last year's MTD Top 100 list of the biggest independent tire dealerships in the United States to this year's MTD 100.
FOCUS Telecom Business Services Quarterly: Summer 2020 Report
Public Markets
The FOCUS Telecom Business Services Index (TBSI) benefitted from the overall market correction to March’s downturn and grew 17.4% over the past three months. Despite this strong performance, the sector still underperformed both the 20.0% gain in the S&P 500 and the 30.6% rise in the NASDAQ over the corresponding time period.The trend is similar for the full year period as the TBSI dropped 2.5% compared to 5.4% and 25.6% increases in the S&P 500 and NASDAQ indices, respectively. The sector revenue multiple held steady compared to this same time last year at 0.6x. However, the EBITDA multiple for the sector fell from 8.6x a year ago to 7.4x currently after a March low of 5.9x.FOCUS U.S. Communications Service Provider Quarterly: Summer 2020 Report
Public Markets
The FOCUS Communications Service Provider Index (CSPI) rebounded strongly from the steep decline in our spring report to post a gain of 10.4% in the past three months. Even so, this period’s gains still did not erase all of the losses from the spring. In addition, the CSPI also significantly underperformed both the 20.0% gain in the S&P 500 and the 30.6% gain in the NASDAQ over the corresponding time period. The sector also underperformed the broader indices for the full year as the year-over-year loss of 3.3% in the CSPI compares unfavorably to both the 5.4% gain in the S&P 500 and the 25.6% gain in the NASDAQ. Sector multiples are largely consistent with where they were a year ago. The sector revenue multiple dipped slightly from 2.8x to 2.7x, while the sector EBITDA multiple held steady at 7.8x.
