August 2022
In times like these, investors and business professionals have long tried to predict the future. In the earliest civilizations, predictions from oracles, shamans, and prophets, depended on the capacity of these individuals to access other planes of being and receiving divine inspiration. In recent years, forecasters have amassed massive amounts of data (e.g., USA Facts), complex simulations (e.g., RAND Corporation, 538) and relied upon crowdsourcing predictions (e.g., DELPHI technique).
At the moment, the world is chock full of forecasts. prophecies, cliodynamics all intended to predict the future and future economic cycles and create an advantage. The clearest lesson from the history is that we use it as a guide - although it may not offer precision, history does offer patterns and direction. Historical patterns reveal cycles, waves, or sequences can be identified in the past and can therefore be expected to recur in the future.
Despite the confusion surrounding current economic indicators that oftentimes include conflicting information, we encourage you to look to the past as you attempt to predict the future. Specifically, consider 2007 - 2012 Berkshire Hathaway Investor Letters, and blog posts from Fred Wilson of Union Square Ventures, Michael Mauboussin of Morgan Stanley, Marc Andreesen of Andreessen Horowitz.
And, if Matt or I can help you make sense of all that is going on and any impacts to your search, please contact us. In the meantime, please find a selection of resources below to support your efforts.
RFC SEARCH FUND SPOTLIGHT
KNOWLEDGE-BASE UPDATES. Available to Red Forest Capital Funds Only.
Building a Board of Directors Guide to consider as you approach LOI
Customer Account Scoring Template to evaluate the health and potential of existing customer accounts
SELECT DEALS within industries of interest for Red Forest Capital funds.
Arch Amenities Group Acquires Pool Mgmt And Construction Company
Graybar Acquires Walker Industrial And Shingle & Gibb Automation
Platinum Equity Acquires High Temperature Solutions Business
The Stepping Stones Acquires Center For Behavioral, Educational, And Social Therapies (C.B.E.S.T)
Thor Equities Group Acquires cold storage warehouse For $36MM
SEARCH FUND TOPICS
PODCAST. Private Equity with Graham Weaver, Alpine Investors
Private lenders are offering cheaper debt than Wall Street banks
How to check customer references...without irritating the seller
LEADERSHIP
GENERAL BUSINESS
Small Business Policy and Economy Survey from the SBE Council
How Outreach Is Using Employees & Empowerment To Win on LinkedIn
The One Email KPI To Watch in the Age of Mail Privacy Protection
Ways to Leverage Data for Marketing and Customer Relationships
Getting Acquired Is A Legitimate Strategy For Building Your Business
EVENTS *Virtual | Search Fund Events
10 August, Cyber Security Fundamentals for Business Leaders*
11 August, Understanding Capital Structures on Exit Transactions
17 August, Complex World of Data, America Marketing Association*
9 – 10 September, Southeast ETA Conference in Charlottesville, VA
22 September, Spotlight on Latin America hosted by FT in New York
20 October, 2022 CPAs In Industry Conference in Denver & Virtual
30 October, Harvard Business School ETA Conference in Boston
LIGHTER FARE
He’s Baseball’s Only Mud Supplier. It’s a Job He May Soon Lose
Watch an Electric Fan Car Break the Goodwood Hill Climb Record
Coral in parts of the Great Barrier Reef are at the highest in 36 years
The "Howard Stern of business" & the founder people love to hate
WELLNESS
M&A, PRIVATE EQUITY & INDUSTRY UPDATES
HEADLINES. More in the Industry Updates Sections below.
PE in VC in 2022 from Tomasz Tunguz, Venture Capitalist at Redpoint
PE Maintained Its Share of the M&A Market in 2022H1 from Bloomberg
PODCAST. The State of the Mid-Market with Twin Brook’s Chris
M&A remains resilient in 2022, but further shocks could derail outlook
AEROSPACE, DEFENSE, GOVERNMENT, CIVIC & SOCIAL SECTOR
2022H1 Aerospace, Defense & Space M&A Trends from Meridian Capital
Kongsberg Defense & Aerospace Acquires NanoAvionics For $90MM
Leidos Acquires Cobham Aviation Services Special Mission Business
AGRICULTURE & FOOD
Chartwells Higher Ed Acquires Fresh Ideas Food Management Company
AUTOMOTIVE & ASSEMBLY
2022Q2 Automotive Aftermarket & Powersports Update from Solomon
It’s time to talk about consolidation in the EV charging industry
Toyota-Panasonic Battery Acquires Lithium From Ioneer's Nevada Mine
B2B, CONSULTING & PROFESSIONAL SERVICES
2022Q1 A/R Management Update from Corporate Advisory Solutions
2022H1 Business Services Industry Report from CFA Associates
2022 Trends for BPO & Contact Centers from Capstone Partners
202204 Cybersecurity and Privacy Roundup from PKF O'Connor Davies
Agileblue Acquires Crowe Managed Detection And Response Platform
Response Informatics Acquires Technologia Corporation For $7.4MM
Voxtur Analytics Corp. Acquires Municipal Tax Equity Consultants
Willis Towers Watson Public Limited Company Acquires Butterwire
EDUCATION, TRAINING & SKILL DEVELOPMENT
ENERGY, ENVIRONMENT & RELATED
California Water Service Group Acquires California Water Service And Washington Water Service & Hoh Utilities
Capital Power Corporation Acquires Midland Cogeneration Facility
Cathedral Energy Services Acquires Altitude Energy Partners Directional Drilling Services For $100MM
Corning Natural Gas Holding Acquires Argo Infrastructure Partners Lp
Momentum Midstream Acquires Midcoast Energy Assets For $42MM
Precision Drilling Corporation Acquires High Arctic’s Well Servicing & Rentals Divisions
Space City Services Acquires Tibc Rentals And Transportation
Universal Engineering Sciences Acquires Rock Engineering & Testing Laboratory
Universal Engineering Sciences Acquires Speedie And Associates
FINANCE & INSURANCE
2022 Asset And Wealth Management M&A Midyear Outlook From Pwc
2022 Banking And Capital Markets M&A Midyear Outlook From Pwc
2022Q2 Crypto & Capital Markets Tech Insights
2022Q2 InsurTech InsightsB2B Payments: The Last of Paper-based Payments and Processes
Despite Market Downturn, Wealth Management M&A Still Red Hot
House Financial Services Committee passes the Overdraft Protection Act
Arthur J. Gallagher Acquires Four Corners Group & Southern California Insurance Services
B.O.S.S. Retirement Solutions And Advisors Acquires Becker Retirement
Chubb Life Acquires Life Insurance Operations Of Cigna In Korea
Chubb Life Acquires Life Insurance Operations Of Cigna In New Zealand
Dakota Wealth Management Acquires Loveless Wealth Management
Hilb Group Acquires Howe-Lagrange And Reick Insurance Agencies
Hub International Acquires Bubrig Insurance Agency And Blue Cedar Insurance
Lpl Financial Holdings, Inc. Acquires Boenning & Scattergood
Mercer Advisors Acquires Harrison & Company Wealth Management
National Cannabis Risk Prevention Services Acquires Mg Payment
Pcf Insurance Acquires Mga Professional Warranty Service Corporation
Sanctuary Wealth Acquires Marriott Wealth Advisors For $45MM
Specialty Program Group Llc Acquires Esp Insurance Brokerage Llc
Stifel Financial Corporation Acquires Acxit Capital Partners
Wealth Enhancement Group Acquires Titus Wealth Mgmt For $14.5MM
Westland Insurance Group Acquires National Truck League Insurance Brokers
HEALTH CARE & LIFE SCIENCES
Healthcare Technology - Week in Review from Solomon Partners
2022H1 Healthcare & Life Sciences Industry Report from CFA Associates
Healthcare Payments: Consumerization & Digitization Create Opportunity
Anodyne Pain & Wellness Solutions Acquires Integrated Pain Consultants
Frontage Laboratorie Acquires Frontage Clinical Services Inc.
Infosys Acquires Life Sciences Consulting And Technology Leader
Sharps Technology Inc Acquires Safegard Syringe Manufacturing Facility
The Ensign Group, Inc. Acquires Henderson Health And Rehabilitation
The Stepping Stones Acquires Center For Behavioral, Educational, And Social Therapies (C.B.E.S.T)
Ultragenyx Pharmaceutical Acquires GeneTx Biotherapeutics For $776MM
HOSPITALITY, TRAVEL & TOURISM
2022Q1 Restaurant Industry And Same-Store Sales from Trinity Capita
2022H1 Restaurant Sector Update from Duff & Phelps (nee Kroll)
INDUSTRIALS, MANUFACTURING & MATERIALS
2022H1 Metal Fabrication Industry Report from CFA Associates
Graybar Acquires Walker Industrial Products And Shingle & Gibb Automation
Hyperion Materials & Technologies Acquires Premium Diamond Solutions
Majestic Steel Usa Acquires Quicken Steel And Mercury Transport
ProFrac Services Acquires Signal Peak Silica of Monahans For $33.8MM
Tenaris Sa Acquires Benteler Steel & Tube Pipe Manufacturing
Us Lbm Acquires Florida Truss Manufacturer And Supplier Deco Truss
MARKETING & ADVERTISING
MEDIA & TELECOMMUNICATIONS
2022 Media And Telecommunications M&A Midyear Outlook From Pwc
202207 Media & Entertainment Article Series from Solomon Partners
Allen Media Group Acquires Black Television News Channel For $11MM
Fiume Capital And Juggernaut Acquire Thrill One Sports & Entertainment
X1 Esports And Entertainment Ltd. Acquires Tyrus Talent Services
REAL ESTATE, ENGINEERING & CONSTRUCTION
2022 Engineering And Construction M&A Midyear Outlook From Pwc
2022Q2 Facility & Residential Services Update from Solomon Partners
202204 Facilities Services: Eco-Friendly Technologies from League Park
2022 Engineering And Construction Industry Outlook from Deloitte
Allied Power Holdings Acquires Radiation Safety & Control Services
Arch Amenities Group Acquires Pool Mgmt And Construction Company
Massey Services Acquires Peninsular Pest Control Of Jacksonville
Platinum Equity Acquires High Temperature Solutions Business
Pye-Barker Fire & Safety Acquires Bender & Modlin Fire Sprinkler
Sciens Building Solutions Acquires Central California Company
The Ensign Group, Inc. Acquires Real Estate Assets In California
Thor Equities Group Acquires cold storage warehouse For $36MM
Willscot Mobile Mini Holdings Corporation Acquires Modulease
RETAIL, WHOLESALE & CONSUMER SERVICES
2022H1 Consumer / Retail Industry Report from CFA Associates
Blackstone, Other Firms Turn Attention to Vast Retail Market
Chalice Brands Ltd. Acquires Cannabliss & Co. Retail Locations
Munch's Supply Acquires Wholesale Sheet Metal And Pile Protection
TECHNOLOGY
202207 Semiconductor Industry Update from Fairfield Capital Advisors
Tone Software Acquires The Casi Suite Of Z/Os Output Transformation Products
TRANSPORTATION, LOGISTICS & PACKAGING
2022 Transportation And Logistics M&A Midyear Outlook From Pwc
2022H1 Transport, Logistics & Supply Chain Report from CFA Associates
202202 Transportation & Logistics M&A and Valuations from Peakstone
Replacing the “Take-Make-Waste” Model with Sustainable Supply Chains
American Storage & Logistics Acquires Binghamton Material Handling And Granite Industrial
Fleetpride Acquires Keystone Spring Service Of Pittsburgh And Portersville
Körber Acquires Enspire Commerce Platform And Global Freight Audit And Payment Service
Menasha Packaging Acquires Georgia-Pacific's Color-Box Business
Nextier Asset Acquisition Acquires Continental Intermodal Group
Sweeping Corporation Of America Acquires Central Valley Sweeping
Sweeping Corporation Of America Acquires Total Power Sweeping
Transportation Infrastructure Partners Acquires Terminals Fernandina
WASTE MANAGEMENT & RECYCLING