Smart Business Dealmakers: The Middle-Market M&A Podcast

The past few years have been dynamic for M&A. Rising interest rates, inflation and a host of other issues have brought uncertainty across numerous sectors. But still, deals are getting done. Kicking off the 2024 Philadelphia Smart Business Dealmakers Conference, Bank of America’s Jim Dever and Fritz Franz, Archetype Solutions' Chetan Bagga, PeopleShare’s Ryan Clark and SeventySix Capital’s Chad Stender share their experiences operating in this market and discuss what it takes to get M&A deals done in today’s environment.

Akron-based accounting and business advisory firm Apple Growth Partners is set to merge with Fargo, N.D.-based Eide Bailly. AGP — which through a strategic effort by Chairman Chuck Mullen grew to become the 18th-largest accounting firm in Ohio —will see its 24 partners and 125 staffers join Eide Bailly's 3,800-person team. Chuck and tax principal Jeff Brooks talk about the deal and all that's led to it — from both joining AGP after its acquisition of Brott Mardis back in 2008, to how their recent conversation about ChatGPT ultimately sparked the firm's sale.

There are unique challenges and opportunities to running a closely held or family-owned business and having an effective board. At the 2024 Pittsburgh Smart Business Dealmakers Conference, four entrepreneurs shared tips and insights on how to present effectively to boards, emphasizing the importance of storytelling, simplicity and prioritizing critical information. The panelists also emphasized the importance of diversity, strategic focus and proactive management in effective board governance. The participants were Joe Cardosi, Meredith Meyer Grelli, Jason Wolfe and moderator Patrick Colletti.

At this year's Cleveland Smart Business Dealmakers Conference, regional leaders David Gilbert from the Greater Cleveland Sports Commission and Destination Cleveland, Greg Harris from the Rock & Roll Hall of Fame and Brian Zimmerman from the Cleveland Metroparks discuss how their innovative strategies have transformed Cleveland into a powerhouse for major sports events, scenic parks, and arts and culture. In this roundtable discussion led by First National Bank's Boyd Pethel, they highlight how their collaborative efforts drive economic growth and position the region as a must-visit destination for tourists, sports enthusiasts, and cultural aficionados alike.

The past few years have been volatile, with rising interest rates, inflation, and lots of uncertainty affecting the M&A market. At the New York Smart Business Dealmakers Conference, Bank of America's José Tavarez leads a conversation with Revel's Frank Reig, ChargeLab's Shaun Stewart and Bank of America's Shawn Hoyer on what dealmakers can expect for the remainder of 2024 and beyond.

Tariq Farid built Edible Brands from a single store in 1999 into a flourishing franchise empire that today has nearly 1,000 stores. Now he and his daughter, Somia Farid Silber, who is also now Edible’s president, are rebranding, expanding and plotting the company’s future. At this year's Atlanta Smart Business Dealmakers Conference, the two sat down with Tom Singh, a managing director and senior resident director with Merrill Lynch Wealth Management, to discuss the company's founding, flourishing and future.

There was a sharp decline in dealmaking during 2023 as the post-pandemic boom subsided and uncertainty intensified. Louis Plung & Company Partner Tony Montanaro joins the pod to discuss the factors influencing this change, how transactions are being affected, and what preparations sellers can make to have the best outcome in 2024 and beyond.

Robert Anderson Jr. served more than 20 years in the FBI, overseeing criminal and cyber investigations worldwide, including the Edward Snowden investigation. After the FBI, he served as managing director for a global organization helping companies respond to and recover from thousands of data breaches, as well as evaluate M&A target companies for cybersecurity vulnerabilities. The now Chairman and CEO of Cyber Defense Labs sat down with Smart Business Chief Content Officer Dustin Klein at the Dallas Smart Business Dealmakers Conference to discuss a range of issues, from Anderson's transition to the boardroom to his insights for business leaders on the evolution of cybersecurity threats.

The 2024 Boston Smart Business Dealmakers Conference featured a one-on-one conversation with Howard Brodsky, founder of CCA Global Partners, a groundbreaking $14 billion company. In this excerpt, he talks with Smart Business Chief Content Officer Dustin Klein about the common traits of the some of the world's most successful entrepreneurs, as well as the outsized impact delivering the unexpected can yield for a business.

Serial entrepreneur Todd Boyman has been a consumer of plant-based foods for more than three decades. So it shouldn’t be a surprise that his business passion and food passion would eventually combine in a new venture. Hungry Planet is a maker of plant-based meats with fewer calories and less fat than conventional meat and other plant-based options. In March of 2023, Todd spoke at the St. Louis Smart Business Dealmakers Conference about his experiences launching Hungry Planet, its growth plans and his thoughts on building strong organizations.

Over 18 years and more than $15 billion in transactions, DGP Capital's Jack Chang has been advising businesses public and private on how to get the most out of their business when it's time to sell. He brought that experience to bear when he joined us to talk about what sellers can do to make their business attractive to buyers, when they should start the process and who they can turn to for help as they work to maximize their deal.

Rob Hale thinks he's an unlikely person to listen to when it comes to dealmaking. After all, he became a billionaire and lost it all by the age of 35. But Rob rebounded from the failure of Network Plus to co-found Granite Telecommunications, which made him a billionaire again and eventually co-owner of the Boston Celtics. That failure and rebound yielded three essential business lessons that Rob shared with attendees at the 2023 Boston Smart Business Dealmakers Conference.

Human capital and corporate culture play a key role in most M&A transactions. In this episode, we talk to a different sort of business leader about asset management, team building and creating a winning culture — in a very literal sense. Nic Barlage is CEO of Rock Entertainment Group and its many holdings, including the NBA’s Cleveland Cavaliers. He oversees more than 500 full-time team members throughout the business operations of the Cavaliers. Nic sat down with Smart Business Chief Content Officer Dustin Klein to discuss talent acquisition and development, building a winning culture, and the importance of leadership. What follows are excerpts from that conversation, which took place in June 2023 at the Cleveland Smart Business Dealmakers Conference.

Jumpstart Capital founder and Managing Partner Vic Gatto has been investing in early-stage health care businesses for nearly a decade. His organization — Jumpstart Foundry, Jumpstart Health Investors and Jumpstart Capital — works to bring innovation to what could be considered a timid but also complex industry. He talks about the formation and evolution of the venture capital firm, the opportunities he's seeing in these early-stage ventures as well as their challenges.

Carrie Thome left the Wisconsin Alumni Research Foundation, where, as the Chief Investment Officer, she oversaw a $3 billion investment portfolio, to co-found NVNG Investment Advisors, an investment platform and network made up of a family of funds. The organization closed its Fund 1 in late 2021. Carrie talks about the organization, leaving WARF to launch it, her experience as a fund raiser and the progress NVNG has made since its start in 2019.

Compelled by the invitation of Jesus to "love our neighbors as we love ourselves," Corner to Corner was founded by Will and Tiffany Acuff in 2011. The young couple wanted to create a relationship-centered nonprofit that focused on seeing neighbors in their low-income Nashville neighborhood flourish on their own terms. In partnership with the community, the first program was aimed at equipping those recently out of prison with the necessary skills to gain meaningful employment. Since those early days, Corner to Corner has grown and expanded programming throughout Middle Tennessee, all in meaningful partnership with neighbors. Will sat down with Smart Business to discuss how it all started, how he raised funds and what the future holds for Corner to Corner.

Patrick Patterson went from the third person at what ultimately became Level Agency to its co-owner, sitting in the CEO seat for the first time. And shortly after taking over the business, he brought in PE partners — also a first — to help accelerate the company's growth with M&A-minded advisers who can help the agency accomplish its ambitions goals. Patrick talks about the management buyout, how he connected with his PE backers and what it took to close the deal, what life is like with a PE partner and the agency's plans for the future.

While service providers such as hotels and restaurants were severely debilitated by the pandemic shutdown, others thrived. One such example is Reimagine Care, a Nashville-based in-home cancer care enabler. It’s taken cancer care from the clinic to patients' living rooms. Aaron Gerber, co-founder and former CEO of Reimagine Care, says the scope of what can be done for patients has greatly changed with tremendous advancements over the last two and half decades. What had not changed was how that care was delivered. Aaron talks about raising capital and providing oncology healthcare to patients in their own homes.

After years of investing in early-stage companies in the SaaS, robotics, internet of things, health & fin tech spaces, Ven Raju has taken his talents from New York to Pittsburgh where he now heads Innovation Works as its president and CEO, while also holding the position of managing director of Riverfront Ventures. The two organizations have a symbiotic relationship — Innovation Works invests at the earliest stages of a venture while Riverfront provides follow-on capital to those companies that gain traction. Ven compares and contrasts his investment experiences between the two cities, and offers the perspective he's hearing from investors he's talking to as he works to grow Southwest Pennsylvania's startup stature in the market.

Stephen Glicken is working to disrupt ticket sales as we know it with his company, Project Admission. It's a unique model that managed to survive the collapse of live events during COVID and continue to draw investor interest, gain market traction and land significant partnerships. Stephen talks about the business, its growth, fundraising, investors and what he hopes to be saying in the next five years about the company he launched.