PE Insight Series: What Kills a Deal? PE Executives Weigh In

PE Insight Series: What Kills a Deal? PE Executives Weigh In

PE Insight Series 2

In the second edition of the PE Insight Series, eight private equity executives discuss the #1 factor in failed deals. 

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Here’s a glimpse of what you’ll learn:

  • [2:06] The quantitative and qualitative aspects of failed M&A deals
  • [5:29] Why realistic expectations are crucial in the transition from LOI to closure
  • [14:25] How visibility and performance against targets can affect deal-closure
  • [24:46] The importance of transparency during due diligence 
  • [29:09] Strategies for aligning expectations pre-LOI

In this episode…

Imagine being on the brink of closing a major transaction and having it fall apart unexpectedly. What causes a deal to crumble following the LOI, and how can you prevent a failed deal?

Casey Swercheck, Joshua Bilmes, Nick Moritsugu, Bill Sommerschield, Trenton Sisson, Brian Schmidt, Bill Dyer, and John Findlay talk about the most common deal killers. With host Todd Taskey, the executives discuss the importance of transparency, how to align expectations before signing an LOI, and how visibility and performance impact deal closure. 

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Casey SwercheckCasey Swercheck is a Partner at Alterna Equity Partners, a PE firm focused on controlled and non-controlled investments in lower middle-market companies. In his role, he sources, evaluates, and structures new investment opportunities for the firm. Casey is a board member at various companies, including Bulk Express Transport and Mod Op. 

Josh BilmesJosh Bilmes is the Managing Partner of Oceans Equity, a VC and PE firm that supports ambitious leaders. With nearly 20 years of investing and M&A advisory experience, he focuses on optimizing capital structures, allocating resources, recruiting executives, and establishing efficient organizational structures. Before Oceans Equity, Josh was the Principal at Boyne Capital Partners.

Nick MoritsuguNick Moritsugu is a Principal at Imperial Capital, a middle-market private equity firm. He is also a board member at Elase Med Spas and Frontier Service Partners. Before joining Imperial Capital, Nick served as an Investment Banking Associate at BMO Capital Markets’ M&A group. 

Bill SommerschieldBill Sommerschield is the Managing Director at Keystone Capital, which invests in high-quality, market-leading businesses. He is responsible for evaluating investments, structuring and negotiating transactions, and managing portfolio companies. Before Keystone Capital, Bill worked in the investment banking divisions of Morgan Stanley and Credit Suisse, where he was involved in M&A and debt and equity financings in the business services, industrial, and education industries. 

Trent SissonTrent Sisson is the Managing Director of Mountaingate Capital, which helps entrepreneurs and management teams accelerate business growth. He is also a member of the firm’s investment committee. Trent was a Private Equity Investor at KRG Capital Partners and began his career as an Investment Banker with Wells Fargo Securities in leveraged finance.

Brian SchmidtBrian Schmidt is a Vice President at Court Square Capital Partners, a middle-market private equity fund. In his role, Brian is responsible for deal sourcing, growing existing investments, and overseeing the development and implementation of growth strategy. He serves as a board member for Power Digital, Connatix, and Health Union and is a Dynata board observer.

Bill Dyer Bill Dyer is the Managing Partner at Boathouse Capital, a debt and equity firm making minority and majority investments in middle-market companies across the US. He is a private equity executive with over 25 years of experience, specializing in mezzanine debt and equity investments. Before Boathouse Capital, Bill was a Principal at American Capital and the Director of Business Development at MSDSonline.

John FindlayJohn Findlay is a Partner at Periscope Equity, a Chicago-based PE firm that partners exclusively with founder-owned, technology-enabled business services companies. He serves on the boards of eHouse, MAS Medical, WPAS, and Uprise Health. Before Periscope Equity, John was a Senior Associate at Lone Star Funds, where he evaluated and executed new investment opportunities in financial services and business services companies.