100 Years Combined
and Billions in Value
1858’s mergers and acquisitions (M&A) capabilities are one of the core pillars of the firm. Our expertise spans multiple industries, investment structures, and buyer types. Utilizing an exclusive sell-side process developed by the 1858 team, we can achieve optimal structures and higher selling multiples for our clients. The typical sell-side transaction falls into the enterprise value (purchase price) range of $25 million to $1 billion. In addition to sell-side transactions, 1858 prides itself on helping clients seeking acquisitions through a well-defined buy-side process. Depending on the industry and client size, a buy-side transaction can vary greatly in size and at times may have different parameters than just price as a driving factor. Items such as capacity, geography, gap filling, etc. may determine how big and how many targets might exist in a buyer’s universe.
1858’s principals have a long history of working with senior lenders, mezzanine finance groups, and alternative lenders. Navigating the appropriate debt stack for an operating business or acquisition can, at times, seem a very daunting task for a client to “go it alone.” 1858 will assist in both finding the right debt provider(s) and help in analyzing structural elements of any proposed debt to ensure our client has adequate liquidity and the ability to service the proposed debt comfortably.
With a full analytics team, experience and underwriting expertise, 1858 is well positioned to capitalize on smaller investment opportunities that fall below our M&A advisory threshold of $25 million. Having worked on hundreds of transactions in the sell side advisory space, we know what an optimal structure and valuation should look like from an investment perspective. Our objective is to make tactical, control and non-control investments that offer the potential of above average private equity returns. 1858’s partners put their own money into every transaction and this investment is done pari-passu, with no separate share classes or differentiation from our outside investors. When we exit, ALL investors benefit and are treated the same.
SPECIAL SITUATIONS ADVISEMENT
Not all sell-side engagements are cut from the same cloth. There are times when the disposition of a company and/or its assets is critical to its survival and may even be ordered by the Courts. The team at 1858 has worked for both creditors and debtors on a variety of transactions. 1858 has experience in a full range of situations including out-of-court restructuring, sale through Section 363 of the US Bankruptcy code or even working through state programs under the Assignment for the Benefit of Creditors. While there can often be times when regulations will mandate processes and structure, there is still a certain amount of creativity that goes into most transactions. This is where the 1858 team can provide significant value. With relationships with a variety of liquidity sources and the ability to run a sell-side process simultaneously if needed, 1858 can help a client work toward a successful outcome. The one common thread across all special situations is that the purpose is to maximize returns/recoveries for investors and creditors.