Carl has over 30 years’ experience in the banking industry. Carl’s banking experience encompasses corporate finance, equipment finance, structured finance and project finance. Additionally, over the past ten years he has developed owned and operated various renewable energy initiatives.
He will be working in all areas of the firm’s practice with a focus on formal business valuations.
Carl holds an MBA in Finance from Babson College and a BA in Finance from the University of Massachusetts and received his Charter from the Institute of Chartered Financial Analysts in 1985. Carl also is a Certified Valuation Analyst having received his CVA credential from the National Association of Certified Valuators and Analysts in 2019.
Carl spent the better part of his career working with large multinational corporations structuring and arranging complex asset specific financing transactions. “I became a CFA because of my interest in how debt and equity markets work. This involves understanding risk and return which are integral components to measuring value.”
He spent his years in banking assisting companies in understanding these metrics and executing financings addressing a company’s corporate finance requirements.
Business valuations are a fundamental tool for business owners, providing an accurate picture of where the business is at a point in time and what changes may be beneficial. A formal valuation prepared by a CVA provides an unbiased third-party value and can be used for many purposes such as, preparing for succession or transition, evaluating potential acquisitions, obtaining financing, or during disputes such as partner disputes or divorce situations.
For Carl, a CFA, becoming a CVA was a natural extension of his professional interests.
“While in my past professional life I have been focused on financing discreet assets, as a CVA I get to focus on the risk/return dynamic of the entire enterprise. Whether or not a company is planning for a transfer of ownership, it is important to understand the relationship between risk and value. This can be a catalyst for initiating changes to company operations and financing practices. The valuation exercise is one that has benefits far beyond just how much a company is worth.”
BTS is an M&A advisory firm with offices in Pembroke, N.H. and Andover, Mass. It works with owners of private companies who want to sell or who seek growth through acquisition of other entities. It has sold manufacturing, distribution, machining and coating companies and has completed a variety of growth through acquisition deals in New Hampshire, Massachusetts, Maine and New York. It is a founding member of Cornerstone International Alliance, an association of independent M&A firms across the country.
"The entire process went smoothly and professionally. The BTS team kept me fully informed at every step. They worked hard and were effective in bringing the deal home."
"Skip and I continue to be grateful for all you have done to make the sale of Pure Flow come to fruition."
"BTS’s level of expertise in the process and close attention to detail enabled us to successfully navigate the deal."
"These types of transactions are often long and complicated and I doubt it could have been successfully completed without your close ongoing involvement."
"The outside objective point of view that you have brought us has been invaluable as we prepare for the rapid growth."
"John then found the right buyer and coordinated a seamless transition—he doesn’t miss a single detail."
"John immediately identified our strengths and experiences and discussed a business that ultimately was more in line with our goals."
"The BTS team came in, evaluated everything in a professional and thankfully non-threatening manner."
How M&A Will Respond to Next Recession
The takeaway for business owners: Get back to basics. Don’t worry about hyper growth. De-risk your company as much as possible.
Perception vs Reality with Small Businesses
Sometimes the economic picture on the news seems inconsistent with what is happening for many business owners. Nearly every owner we speak to is out straight.
NH-Based Techinical Manufacturing Company Sold
Hampshire Controls has a bright future with new ownership. The company was recently sold by Diane Rush, owner and president, to Pillar Imaging and its leader Dr. Michael Pilon.
Be Ready When You Are Ready
When a business owner says it’s time to sell, I ask, “How fast do you want to be out?” The answer I hear most is, “Yesterday.” But sellers underestimate how long the process takes.
Looking at a Sale Through the Right Lens
Sometimes our vision about the future is blurry because we aren’t considering the whole picture but only parts of it.
5 Deal Points from the Trenches
Today I work with clients of Business Transition Strategies who are implementing Growth Through Acquisition strategies. Here are a few observations from working on a wide variety of projects.
Tax Changes Could Hurt Net Proceeds
Changes proposed to the capital gains tax suggest they may need to get 30% more in a transaction in the future just to net the same value they would get today.
Good Ideas From Shark Tank Deal
One of my colleagues in Cornerstone Alliance was front and center in a recent Shark Tank exercise. A business that had been sold was put in front of four potential buyer groups.
Buyer Trends in Lower Mid-Market
Other businesses are a significant market for companies being sold within the lower mid-market.
Things to Consider in Transition Thinking
As a business owner, you have to consider the role you want to play in the business in the immediate future following a sale and how that could impact the sale.
Precision Machining Company
Initially, liquidation was a serious consideration. It would offer a quick exit but would hurt loyal employees and disrupt the customers who had come to rely on its quality production.
Green Product Company
Our client owners could dig in for the long haul…However, this would take five years or more. Owners simply lacked the horsepower to do it.
Water Purification Company and Young Buyers
Owners decided they wanted to retire. They also wanted to be fair to the staff who had been loyal to them. Could the company be sold, the staff retained and the facility remain in use?
Magnetics Company with High Profile Customers
(T)he manufacturer would need to focus on growing EBITDA to capture interest from major strategic buyers and achieve a higher multiple of earnings.