White Papers

White Paper: Private Equity Investment in Dermatology – April 2020 State of the Market

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After seven strong years, private equity investment in dermatology has been in decline since 2019. Now, elective procedure bans and shelter-in-place orders have practice owners wondering if the opportunity to sell has passed. This paper  examines  the differing views on pe-backed consolidation, key performance indicators, investor activity, and saturation by geography and practice size. We see several positive factors for our current and potential clients within a coming private equity player restructuring.

White Paper: Private Equity Investment in Gastroenterology – 2020 Outlook

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Is gastroenterology the next darling of private equity? Large GI practice acquisitions exploded in 2019, tripling that of the prior three years. Expansion to new geographic areas doubled in each of the last three quarters of 2019. We see this activity accelerating in 2020 when a significant number of new private equity investors enter the market and physician sellers see high demand for their practices.

White Paper: Private Equity Investment in Ophthalmology – 2020 Outlook

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Private equity investment in ophthalmology practices has been one of the "hottest" sectors in M&A over the last several years. We believe the market will continue to be strong but our key indicators now signal a transition to Network Growth in 2020 – a more mature phase characterized by consistent add-on acquisitions. There are still open geographies with great opportunity, such as Texas and multiple areas on the West Coast. We project increased deal activity in these areas including large platform acquisitions.

White Paper: The Physician Sellers Guide to Private Equity Firms Investing in Orthopedics – April 2019

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Private equity investment in orthopedic practices is in the early pioneering stage. Twelve private equity firms have participated in major orthopedic and spine practice investments … 6 as LEAD investors and 6 as participating investors. We examine the six lead investors to understand their investment strategy, current geographic footprint, and growth prospects. We also discuss the five issues we believe will drive the future growth of private equity investment in orthopedics.

Download the FOCUS white paper “Preparing for an Asset-Based Financing”

white paper cover reading "preparing for an asset based financing"

Recently, many businesses have faced a new reality when they are abandoned by their traditional commercial banks and are forced to search for non-traditional sources of capital. Commercial banks have tightened their credit standards dramatically since the crash or have abandoned commercial lending entirely.

For many middle market distributors, manufacturers, and service firms, asset-based lending …

A picture of a data stream on the left and agriculture farming equipment on the right with text reading "precision agriculture"

PRECISION AGRICULTURE: M&A, Investment, and Start-ups on the Rise | Special Market Report | Second Edition | Winter 2014

Established agriculture and technology companies and a host of startups are bringing innovative products and services to the agriculture arena--this emerging industry is called precision agriculture. The expanded Second Edition of this Special Market Report includes the following: Introduction; Market Participants—Public Companies; On the Horizon—Big Data and “Here Come the Drones;” Private Company Participants; and Partnerships Drive Integrated Solutions.
A picture of a data stream on the left and agriculture farming equipment on the right with text reading "precision agriculture"

Download the Precision Agriculture: M&A, Investment, and Start-ups on the Rise: Special Market Report | Winter 2014

As farmers are increasingly under pressure to squeeze out profits and comply with burdensome regulations, they search relentlessly for operational efficiencies. To satisfy this escalating demand, established agriculture and technology companies and a host of startups are bringing innovative products and services to the agriculture arena, focused on helping farmers close that gap.

This emerging …

A graph with countless data touch points

FOCUS Investment Banking Big Data White Paper

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Big Data is a phenomenon resulting from the vast amount of data created by individuals, machines, corporations, and government, driven by technology trends that include social media (Twitter, Facebook, blogs, Four Square, You-Tube, etc.), wireless technologies, enterprise applications, mobile devices, and sensors (GPS, RFID, medical devices, smart grid, manufacturing processes, etc.), most of which are …

Download the FOCUS white paper “The Future of Community Banking”

white paper cover reading "the future of community banking"

Recently, First Virginia Community Bank announced the acquisition of 1st Commonwealth Bank, a small de novo bank started in 2009. The transaction is pending regulatory approval and will be treated as stock-for-stock with value to book at about 97 percent.

Why is this typical of the future?

Over the next three to five years, this …

The Economic Environment for Middle Market Mergers & Acquisitions 2010 to 2012 — Six Industries to Watch

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a whitepaper cover titled "the economic environment for middle market mergers & acquisitions 2010 to 2012 - six industried to watch"

In 2010, global M&A activity increased for the first year since 2007. According to Mergermarket, the 2010 economic environment led to a worldwide increase in M&A transactions by 14 percent with the value of these transactions increasing 20 percent over 2009. For the same period, U.S. M&A transactions total value increased by 10 percent.

Additionally, …