Reynolds Advisory Partners’ bankers have advised a large number of private and public company clients such as Sears, JC Penney, Bergen Brunswig, Titan, Thomas & Betts and Zell/Chilmark in making strategic acquisitions to advance their business plans. Collectively, our bankers have successfully executed more than 130 M&A transactions for over $50 billion in aggregate value.
We have helped clients grow geographically, consolidate fragmented industries, and/or expand their product lines. As experienced advisors in these complex transactions, we offer a compelling, independent perspective to our clients' growth strategy. In this role, we can identify strategic trends, specific company acquisition opportunities, and/or assist in executing transactions already identified or in progress. We approach buy-side assignments in a highly customized fashion seeking to supplement existing client acquisition teams to add value wherever appropriate. More specifically this may include:
- Strategy development
- Target identification and initial approach
- Diligence and valuation
- Auction and bankruptcy process participation
- Financing
- Negotiations and Closing
In addition to traditional investment banking buy-side diligence, we offer buy-side clients the opportunity to work with our Operations Consulting affiliate to perform a detailed operational review of the target. This entails a more detailed level review of the business from a CFO’s perspective focusing on opportunities for quick wins and faster synergy realization. In particular, automation and process improvement opportunities are identified to enhance profitability, reduce close times, improve management reporting, eliminate redundant staffing or address skill set gaps and improve accounting, human resource and operating systems, data and controls. Once this review is complete, specific recommendations are made for immediate action. To the extent these operational changes impact near-term or long-term profitability, the financial impact of the agreed upon recommended changes will be modeled for inclusion in the add-backs or pro forma financials to position the buyer to receive maximum credit for these synergies from financing sources. Reynolds Advisory Partners works closely with our Operations Consulting affiliate to educate potential lenders on these operational improvements and the resultant value creation. Click here for more on Operations Consulting.
Examples of Selected Buy-side Transactions
| Client | Transaction Value ($mm) | Transaction Description |
|---|---|---|
| 3D Systems Corporation | 45 | Merger with DTM Corporation |
| Acorn Products, Inc | 10 | Acquisition of HB Sherman |
| Advanced Communications Systems, Inc | 30 | Buyside advisory |
| AG Edwards, Inc | 12 | Advised the company on the acquisition of CPI Corp |
| Ancra International Corp | 35 | Leveraged buyout |
| Avnet | 485 | Acquisition of Hall Mark Electronics (Freeman Spogli) |
| Bergen Brunswig Corp | 420 | Advisor in hostile takeover of Durr Fillauer |
| Blackstone | 135 | Acquisition of Great Lakes Dock & Dredge |
| Carsonite International | n.a. | Management buyout |
| Diversified Products Corporation | n.a. | Leveraged buyout |
| DLJ/Sefinco | 200 | Acquisition of Loehmann's from May Company |
| Eastman Corp | 142 | Leveraged buyout |
| ExecuStay Corporation | 25 | Buyside advisory |
| Fleming Companies Inc | 600 | Acquisition of Malone & Hyde (KKR) |
| Fleming Companies Inc | 1,085 | Acquisition of Scrivner |
| House of Fabrics | n.a. | Buyside advisory |
| Huffy Corp | n.a. | Acquisition of Gen X Sports Inc |
| Inergy L.P. (Kansas City Equity Partners) | 92 | Advised the company on acquisition of Independent Propane Company |
| JC Penney | 285 | Acquisition of Fay's Drug Stores |
| Kmart | 75 | Acquisition of a division of Venture Stores |
| MSC Software Corporation | 90 | Acquisition of Advanced Enterprise Solutions Inc |
| Protective Life Corporation | 180 | Advised the company in acquisition of United Dental Care, Inc. |
| Quality Food Centers (Zell/Chilmark) | 360 | Acquisition of Hughes Family markets |
| Quintec Industries Inc | n.a. | Leveraged buyout |
| R&B Inc | 43 | Acquisition of the Dorman Products Division of Sun Distributors |
| Schuylkill Metals Corp | 80 | Leveraged buyout |
| Sears Roebuck & Co. | 90 | Acquisition of minority share of MaxServe |
| Sears Roebuck & Co. | 415 | Acquisition of Orchard Hardware Supply (Freeman Spogli) |
| The Registry Inc. | 46 | Buyside advisory |
| The Registry Inc. | 85 | Acquisition of Application Resources |
| The Titan Corporation | 40 | Buyside advisory |
| The Titan Corporation | 95 | Acquisition of Jaycor, Inc. |
| The Titan Corporation | 95 | Buyside advisory |
| Thomas & Betts | 430 | Acquisition of American Electric (Forstmann Little) |
| U.S. Premium Beef, Ltd. | 232 | Acquisition of Farmland National Beef Packing Co LP |
| UniGroup, Inc. | 120 | Acquisition of Mayflower Transit |
| Wausau Paper Mills, Inc. | 450 | Merger of equals with Mosinee Paper Corp |
| Xrite, Inc. | 180 | Acquisition of Pantone, Inc. |
| Xrite, Inc. | 280 | Acquisition of Amazys Holding AH |
| Total | 6,987 |