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Milestone Advisors, LLC is pleased to be participating in the following speaking engagements. Please contact Joan Morgulec with any inquiries. California Association of Collectors Annual Conference September 23, 2008 Brian M. Greenberg Managing Director M&A in Accounts Receivable Management – Multiple Perspectives from People Who’ve Been There Changes in the financial markets and within the ARM industry have many owners wondering if their business is saleable, what it’s worth and who the buyers are. Many owners also want to know what really matters when it comes to buying or selling an ARM firm. Industry Merger & Acquisition advisor, Brian Greenberg, will moderate this panel and provide insight into current deal valuations and structures, recent M&A activity and trends. Panelists Bruce Colburn (CEO of Kadent and a recent buyer) and Theresa Jones (a recent seller, who sold to Kadent) will provide their viewpoint as well, as both have recently experienced an M&A transaction first-hand. You’ll hear three perspectives about doing deals in today’s market; from a buyer, a seller, and an advisor. Whether you are considering a strategic change in your business today or in the future, this session will provide you with interesting and current information, and real-life insight to assist you in your planning. Santa Rosa, CA International Factoring Association (IFA) 14th Annual Factoring Conference April 9 – 12, 2008 Timothy W. Stute Managing Director Growing Up - What are Your Options? Your sales staff is doing their job, your portfolio is growing. What now? What is the best course of action for you and your firm? We presented various options including:
Hotel Del Coronado San Diego, CA ACA Fall Forum November 13, 2007 Mergers & Acquisitions: How does it Impact Me….Should I be in the Game? Brian Greenberg Managing Director Brian Greenberg moderated a panel of industry veterans within the ARM / Debt Purchasing industry as they discussed current trends in the market, including the availability of capital for debt buying and M&A given the tightening of the lender markets, the impact of M&A on mid-sized ARM firms, how owners can prepare for an eventual sale of their firm, and their expectations of the future shape of the Debt Buying sector. Peabody Hotel Memphis, TN Western Independent Bankers Annual Directors Conference November 8-10, 2007 C. Matthew Allen Managing Director The Trials and Tribulations of M&A
A panel of experts discussed their viewpoints on the M&A process. The panel focused on issues such as: the culture of the organization, what to do and not do when thinking about or going through an M&A, what you should expect during the process, how deals are put together and structured, how the investment bankers value an M&A deal as well as accounting and legal perspectives. Hyatt Grand Champions Resort and Spa Indian Wells, CA
North East Debt Collection Connection (NEDCC) Brian Greenberg In this session, Brian Greenberg described the current environment for M&A in the Accounts Receivable Management (ARM) sector and highlighted some of the major M&A trends in the sector today. He explained what various types of acquirors seek in a transaction and why, and provided the audience with 5 M&A “headlines” that he expects we’ll see over the next 12 to 18 months. He then illustrated, step by step, the process of selling an ARM firm, elaborating on items such as maintaining confidentiality throughout the transaction, things to do now to prepare for a sale, things to avoid, and how to increase the certainty of closing the transaction at maximum value. Caesar's Palace International Factoring Association (IFA) 2007 Presidents and Senior Executives Meeting August 22-25, 2007 Timothy W. Stute Senior Vice President Positioning Your Company for Sale: Will the Current Credit Crunch Negatively Impact the Sale of Middle Market Factoring Companies? The Fairmont Copley Plaza Boston, MA American Collectors Association International June 13, 2007 Brian Greenberg Managing Director M&A in the ARM / Debt Collection Industry
Commercial Finance Association (CFA) 17th Annual Entrepreneurial Finance and Factoring Conference May 15-17, 2007 Timothy W. Stute Senior Vice President Capital Markets Update: Valuing Your Business, Assessing Debt for Growth, and Utilizing Mezzanine Debt. W Hotel-Victory Dallas, TX The Finance Forum May 23, 2007 Timothy Stute Senior Vice President Topic: Want to Know the Current Merger and Acquisition Climate? In the Finance Forum's May Luncheon, Mr. Stute spoke on who is buying, why they are buying and what they are paying. Prestonwood Country Club Dallas, TX National Association of Retail Collection Attorneys (NARCA) Brian Greenberg Topic: What’s Your Collection Practice Worth in Today’s Market? Most business owners want to know the value of their company whether they are considering a sale, involved in estate planning, or just busy running their company. However, there is no one-size-fits-all method for valuing companies across all industries. Some companies are valued based on book value, earnings per share, or revenue, but those in the Accounts Receivable Management (ARM) industry are typically valued based on “Adjusted EBITDA”. In this session, industry merger and acquisition expert Brian Greenberg explained Adjusted EBITDA, and described how it may apply to your collection entity. He provided a straight forward analysis of the various considerations that buyers of ARM firms incorporate as they assess and value acquisition candidates, and he discussed the current pricing of ARM firms in today’s market. Ceasar’s Palace Pennsylvania Collectors Association Brian Greenberg Preparing to Sell Your Company at Maximum Value What is it about your collection agency that could make it more valuable in a sale? This session covered the current market activity for mergers and acquisitions within the Accounts Receivable Management industry and included a discussion of how most buyers value agencies today. We discussed “Adjusted EBITDA”, “Multiples”, and why they matter. In the process, attendees gained an understanding of their firm’s current value and what to do in order to truly maximize value. Harrisburg, PA Mortgage Bankers Association Jeffrey M. Levine Assessing Your Mortgage Banking Strategy in a Changing Environment
Hyatt Regency Chicago Commercial Finance Association's Timothy W. Stute Senior Vice President Market Trends: What Lenders and Buyers are Looking For Today’s market is flush with capital from lenders who are seeking further re-discount business and potential acquirers who are looking to add high yielding assets during a time of intense competition. This panel will explore the current market dynamics facing asset-based lenders and factoring companies, the qualities and characteristics that lenders to finance companies hope to see in potential borrowers, and ideas for making your business more marketable to the many buyers that have shown recent interest in the sector. 12th Annual Factoring Conference April 8, 2006 - Operations Workshop John J. Nelligan Managing Director How Much Is Your Company Worth? The presentation includes methods of determining the value of your business and historical valuations of recently sold factors and asset based lenders that may provide value benchmarks. ABA Convention 2005 September 25-28, 2005 Desert Springs, JW Marriott Resort and Spa, Palm Desert, CA Jeffrey M. Levine Managing Director The Role of Specialty Finance in Your Banking Franchise Banks and thrifts continue to be active buyers and sellers of specialty finance businesses. There are a variety of reasons for the heightened activity. Banks and thrifts are turning to the specialty finance sector as a means to expand existing business lines, shift to higher margin lending during a flattening yield curve, take advantage of a strong underlying credit strength, or acquire loan volume to sustain growth in a rising interest-rate environment. Still others seek to divest of non-core businesses that are cyclically unfavorable. This session will explore:
Commercial Finance Association's May 12, 2005 John J. Nelligan Managing Director Financing and Capital Structure Financial Managers Society (FMS) David Jones Balance Sheet Strategies for a Challenging Interest Rate Environment With the Fed preparing for its widely anticipated eighth rate hike in the past ten months, interest rates--not to mention the economy as a whole--are reaching a critical juncture. Given the uncertainty in the markets, now is not the time to reach for yield; rather it is the time focus on protecting against adverse economic events and conditions. In his presentation, Mr. Jones will discuss a number of concrete strategies on both the liability and asset side of the balance sheet to actively manage the risk/return trade-off. Bank Director Magazine Presents Tuesday, February 1st, 2005 8:50 - 9:30 a.m. As M&A activity in the banking industry escalates, so does the need to be creative with all phases of one's growth plans and/or to be responsive to unique shareholder value opportunities. This session looks at the process of evaluating and implementing a bank's strategic options. Monday, January 31st, 2005 4:00 - 5:30 p.m. Many financial institutions have executed balance sheet restructurings with the intention of removing the negative carry resulting from low yield assets and high cost borrowings. This session will provide an informative discussion on the impact of balance sheet restructurings as an independent organization, or as a transaction associated with a merger agreement. We will highlight some recent transactions, pre and post merger, and the impact to the stock price performance. MBA School of Mortgage Banking Jeffrey M. Levine Managing Director Mergers & Acquisitions in the U.S. Mortgage Banking Industry Financial Managers Society (FMS) Boston Chapter 2004 East Coast Regional Conference September 19-21, 2004 Boston Marriott Long Wharf Jackie Blue Effective Liability Management Community banks have access to many liability management tools that get overlooked. Effective liability management can be achieved through the use of a variety of vehicles allowing an institution to structure their liabilities to alter their interest rate risk position, take advantage of an outlook on interest rates, or simply as an income management tool. A variety of options will be reviewed in this session to highlight the risks and rewards of these instruments and the importance of aggressively managing the liability side of the balance sheet.
American Banker/US Banker Financial Services M&A Forum September 26-28, 2004 The Sawgrass Marriott Resort & Beach Club Jeffrey M. Levine Managing Director Merger & Acquisition Trends in Mortgage Banking Mortgage Banking has been a tremendous source of fee income and short-term interest income for virtually every bank and thrift in the country the past two and a half years. However, with interest rates rising and refinance volumes falling, many institutions, particularly community and regional banks and thrifts, are re-examining their commitment to this sector. Some banks will exit the business completely, while others will pare back their out-of-footprint lending activity or consider outsourcing strategies to reduce costs. Mr. Levine will discuss current trends in the mortgage banking M&A sector, including the strategic drivers behind the re-positioning that is beginning to occur during this post-refinance cycle.
2004 ABA Annual Convention October 3-6, 2004 Marriott Marquis New York, NY Erik N. van Nispen Managing Director Strategies to Maximize Shareholder Value This session will provide an update on conditions and trends in the equity markets, M&A trends, valuation metrics and innovative deal structures. Our speakers will identify the factors CEOs and Directors should consider when reviewing their strategic options including an assessment of the ability to execute on a chosen strategy, as well as an evaluation of the associated strengths, weaknesses, opportunities and threats. Critical questions include:
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