In light of the rapidly changing coronavirus (COVID-19) situation, Troutman Sanders and Pepper Hamilton have postponed the effective date of their previously announced merger until July 1, 2020. The new firm – Troutman Pepper – will feature 1,100+ attorneys across 23 U.S. offices. Read more.
The last several years have seen the investment banker-led auction become a common method of selling businesses. We recently sat down with Pepper partner Andrew Hulsh and Eric Saucedo of Tricap Partners & Co. to discuss this topic. Mr. Hulsh and Mr. Saucedo both participated in a breakfast briefing in Pepper’s New York office around the auction process, which also featured executives from Star Mountain Capital, TSG Consumer Partners and JMP Securities.
Topics covered in the podcast include: the current state of the investment market (:55); how does a company approach an auction process (2:19); what does a PE fund or institutional investor need to do before an auction to increase their probability of success (3:13); tips for dealing with the management team of the company up for sale (7:39); if auctions are here to stay (10:00); and valuation and deal structure issues (10:44).