Download the FOCUS Carrier-Focused Telecom Technology Quarterly: Fall 2019 Report

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In public markets, the FOCUS Carrier-Focused Telecom Technology Index (CFTTI) had a second straight reporting period in negative territory with a three-month loss of 7.9%. This was despite strong positive returns in the broader indices of 6.3% in the S&P 500 and 6.8% in the NASDAQ. The loss this period was enough to put the CFTTI into negative territory for the full year period with a year-over-year loss of 1.3%. This performance was worse than the 0.9% gain in the S&P 500 over the corresponding time frame but slightly better than the 1.8% drop in the NASDAQ. Sector multiples are lower than they were at this same time last year. The sector revenue multiple fell from 2.4x to 2.2x, while the sector EBITDA multiple dropped from 15.0x to 12.0x.
Enterprise-Focused Telecom Technology Quarterly

Download the FOCUS Enterprise-Focused Telecom Technology Quarterly: Summer 2019 Report

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In public markets, the FOCUS Enterprise-Focused Telecom Technology Index (EFTTI) turned in a stellar reporting period this spring with a three month gain of 17.3%. Gains were broad-based as every single sub sector in the index was in positive territory for the period. In addition, the gains in the EFTTI handily outperformed the broader indices …

FOCUS Government, Aerospace, and Defense Quarterly

Download the Government, Aerospace and Defense Group’s Spring 2019 Report

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Report cover: FOCUS Government, Aerospace and Defense Group's Summer 2019 ReportThe latest issue of the FOCUS Government, Aerospace, and Defense Group Report — highlighting aerospace and defense — is now available. The new GAD Report includes:

  • Major Q2 2019 Deals in the GAD Sector
  • Performance: S&P 500 vs. GAD
  • GOVERNMENT Sector Q2 2019
  • AEROSPACE Sector Q2 2019
  • DEFENSE Sector Q2 2019
  • Selected GAD Transactions Q2 2019
  • M&A Activity in the GAD Sector
  • Recent FOCUS GAD Transactions

FOCUS Investment Banking Represents Herb’s Paint & Body in its Sale to Caliber Collision

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Washington, DC, (August 2, 2019) – FOCUS Investment Banking, a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, with a specialty in the automotive services sector, announced today that Herb’s Paint & Body of Dallas, TX has been acquired by Caliber Collision. FOCUS represented Herb’s Paint & Body in …

FOCUS Healthcare and Life Sciences Report

Download the FOCUS Healthcare and Life Sciences Report: Summer 2019

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Featured in this Issue

The Instant, Custom, Connected Future of Medical Devices

By Janet Morrissey, The New York Times*

3D-printed and “smart” pharmaceuticals are making medical treatments more effective. But it may take years before the new devices reach most patients, if they do at all.

Also in this Issue

  • Performance: S&P 500 vs. Public
…
U.S. Communications Service Provider Quarterly

Download the FOCUS U.S. Communications Service Provider Quarterly: Summer 2019 Report

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In public markets, the FOCUS Communications Service Provider Index (CSPI) enjoyed a second straight reporting period with a positive return as the index gained 3.7% in the past three months. This gain exactly split the difference between the 3.8% gain in the S&P 500 and the 3.6% gain in the NASDAQ over the corresponding time period. For the full year, the CSPI is up 13.4%, a gain which significantly outperformed the annual gains of 8.2% and 6.6% in the S&P 500 and the NASDAQ, respectively. Sector multiples also closed out the period higher than they were at this same time last year. The sector revenue multiple now stands at 2.7x (up from 2.4x a year ago) while the sector EBITDA multiple climbed to 8.0x (up from 7.4x a year ago).
Telecom Business Services Quarterly

Download the FOCUS Telecom Business Services Quarterly: Summer 2019 Report

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In public markets, the FOCUS Telecom Business Services Index (TBSI) enjoyed a second straight reporting period in the black as it turned in a solid three-month gain of 4.0%. This increase was strong enough to outperform the gains in both the S&P 500 (up 3.8%) and the NASDAQ (up 3.6%) over the corresponding time period. The TBSI also outpaced the broader indices over the past year. The sector is up 14.6% over the past 12 months, handily besting both the 8.2% gain in the S&P 500 and the 6.6% gain in the NASDAQ. Sector multiple performance was mixed over the past year. The sector revenue multiple inched up from 0.4x a year ago to 0.5x currently. However, the sector EBITDA multiple declined from 9.7x to 9.4x over the same time frame.

The Endless Summer of M&A?

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Over fifty years ago in the late 1960’s filmmaker Bruce Brown gave us his cult classic surfer documentary The Endless Summer. The film chronicles the journey of two young professional surfers who circumnavigate the globe chasing summer through both the northern and southern hemispheres in search of the elusive “perfect wave.”

As we enter the summer of 2019, the comparison to the M&A market today seems appropriate. Are we in the “endless summer” of super charged M&A activity and valuations? We have been experiencing an almost unseen level of M&A activity over the past four years and one can’t help but ask….when (not if) will it end?

FOCUS Investment Banking Announces Bob Maiden Joins FOCUS as a Managing Director and Adds Human Capital Management as an Industry Specialty

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Washington, DC, (July 2, 2019) – FOCUS Investment Banking, a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that Bob Maiden will join the firm as a Managing Director and the Human Capital Management Team Leader, adding this sector to the firm’s list of key vertical specialties that now include Advanced Manufacturing, Automotive, Capital Financing, Energy, Government/Aerospace/Defense, Healthcare, Human Capital Management, Technology and Telecom.