John D. Wagner
John Wagner is a managing director at 1st West Mergers and Acquisitions, which offers a specialty practice in the LBM sector. To learn more, contact John at: j.wagner@1stWestMA.com, or visit www.1stwestma.com.
Mind the spread between OPEX and EBITDA
A (hypothetical) Mr. Coyle started two identical lumber dealerships years ago in a thriving area of New England. When he retired, he gave one location to one son, named Mark, and one to another son, Chris.
What is a pre-empt?
The longer I am in the M&A business, the more I realize how fragile deals can be, and how easily acquirers can walk away.
Roll-up acquisitions: How they work
The term “roll-up” describes a financial engineering process used by private equity and strategic investors, where multiple smaller companies, typically in the same market sector, are acquired and merged.
How an acquisition’s working capital peg is calculated
As an acquisition closes, the investment banker representing the seller calculates the working capital peg.
Don’t take low acquisition offers personally
A neighborhood friend stormed into my house recently, fuming. He’d just put his house on the market and gotten a bid the very first day.
Creative earnout structures in the lumber and building materials industry
Even with the hot M&A market, where there is enduring support for strong acquisition values, buyers of LBM companies are not exactly splashing cash around like drunken sailors or newly elected presidents.
Already have a buyer? Why even use an investment banker?
Our investment bank will often get a call from a company that has just been approached by an acquirer.
How to pocket cash from your balance sheet in the sale of your company
In a debt-free/cash-free sale, you, the seller, must resolve any long-term debt out of the proceeds of the deal at the closing.
Time is the enemy in deal making
An acquirer spots your business, gets the deal book from your investment banker, and then—all of a sudden—there’s a rush of conference calls.
What explains the white-hot LBM M&A market?
There was already a steady low-boil of M&A activity in early 2020. But then, last November, fuel was thrown on the M&A bonfire.