David Michaels

  • Managing Director
310-929-5955
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Biography

David Michaels is a Managing Director of Capstone where he is responsible for managing the firm’s Technology & Telecom Group (TTG). David founded SagePoint Advisors in 2008, a boutique investment banking firm focused on providing M&A advisory services to technology and telecom companies. Prior to founding SagePoint, David was a Co-Founder, Partner and Managing Director at Montgomery & Co., a leading investment bank focused on serving emerging-growth technology companies. David co-founded Montgomery’s investment banking business in 1996 and played an instrumental role in building the business to over $50 million in revenues and 80 employees. Mr. Michaels also ran the firm’s Communications and Digital Media Technology practice areas prior to his departure.

David has intimate knowledge of the strategic landscape, market dynamics and technology underpinnings of several high technology market segments including Mobile Software & Services, Consumer Internet, E-Commerce, Enterprise SaaS, Cloud & Infrastructure Software and Consumer, IT & Telecom Hardware. Prior to joining Montgomery in 1994, David worked as an investment banker at Bankers Trust and prior to that, as a structural engineer at General Dynamics.

Education

The Anderson School at UCLA - MBA - Entrepreneurship

The University of Michigan - BS - Mechanical Engineering

Registrations & Affiliations

FINRA - Series 79 & 63 Registered Invetsment Banking Representative

Industry Coverage

The Q3 Application Development & Deployment Software Executive Summary is available for download below.  The integration of technology into every aspect of business and society has ensured long-term demand for Application Development (AppDev) & Deployment Software and has made the industry an attractive opportunity for both strategic and financially-driven mergers and acquisitions (M&A). Read more

The latest issue of our Enterprise SaaS & Cloud Industry Report, highlighting trends in M&A, financing, IPOs and capital markets for private and public companies in the SaaS & Cloud sector, is now available. Highlights from this report include: Record merger & acquisitions (M&A) activity with 1,917 deals totaling over $200 billion during the last twelve months, IPO activity slowed in Q1 with just two deals compared to seven in Q4 2018, Private M&A targets were valued at a median revenue multiple of 4.6x LTM, above historic norms but slightly below the 5.0x we saw for 2018

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Following a year of unprecedented merger and acquisition (M&A) volume, the Education Technology (EdTech) industry has kept pace with 2018 activity with 57 deals announced or closed in the US and Canada year-to-date. Private equity groups (PEGs) remain very active buyers and have accounted for 54% of deal volume to-date. Read more