Industry Reports

Q1 2018
This report provides insight into mergers & acquisitions (M&A), capital market activity, and market dynamics in the Building Products & Construction Materials market through the first quarter of 2018. Capstone Headwaters’ Building Products & Construction Services team advises business owners, entrepreneurs, executives and investors in the areas of mergers and acquisitions, capital raising, and various special situations.    
Q2 2018
On the heels of impressive and transformative deals in the Food & Beverage industry during 2017, major public companies have remained acquisitive into 2018 as they respond to consumer preferences.  Campbell Soup has continued to diversify beyond soup offerings with the $4.9 billion acquisition of Snyder’s-Lance (closed in March), while Hershey has also bolstered its Better-For-You (BFY) snack product line with the acquisition of Amplify Snack Brands (closed in January).    
Q2 2018
With the number of fatal occupational injuries increasing for three consecutive years, as reported by the Bureau of Labor Statistics,1 operators within a wide spectrum of industrial and manufacturing related industries have been forced to reexamine existing workplace safety infrastructures and procedures and deploy capital to correct inefficiencies.  A growing number of companies have begun to incorporate safety data in reporting and have invested in more advanced occupational and health related research to help track and reduce fatalities.  
Q2 2018
Last year, we predicted renewed emphasis on transactions featuring C4ISR capabilities as a result of commitments to speed critical enabling technologies to the warfighter.  Within the C4ISR industry, drone operations, investment in intelligence gathering platforms, and the national priority placed on missile defense drove interest.  Firms in this industry were also providing software, engineering, and training services that allow advanced technologies to impact mission success.  Suppliers sought to build out product capabilities, and expand systems incorporating data analysis
Q2 2018
The tightening labor market has driven demand for specialized staffing firms. Companies offering niche recruiting services that have been acquired in 2018 have included: Construction Labor Contractors, Smart Rhino Labs (Truck Driving), Gros Executive Recruiters (Plastics and Packaging), Roy's Staffing (Hospitality), Carnegie Affiliates (Information Technology), and Access Staffing (Industrials).  
Q2 2018
Demand for eLearning, corporate & professional training solutions continues to climb, aided by the low unemployment rate (4.1%)1 and rising number of jobs in the US economy (projected by the Bureau of Labor Statistics to reach 20.5 million between 2010-2020).2 While companies may spend considerable time locating the ideal candidate, on the job training including, onboarding, licensing, and leadership development, is often required or ongoing.
Q2 2018
Value-Added Distribution operators with established vendor relations, distribution channels, and diversified product offerings remain active in the merger and acquisition (M&A) marketplace on the heels of attractive valuations and the availability of relatively cheap capital. Due to the need for continued growth, leading industry players continue to prioritize overall goodness of fit when analyzing a potential bolt-on opportunity.
Q2 2018
Last year’s Aerospace & Defense merger & acquisition activity highlighted the underlying structural characteristics of an industry dominated by an airframe duopoly, powered by a handful of engine makers, and the reactive efforts of a vast consolidating supply base.  Airbus and Boeing sought to expand their dominance by: completing transactions with smaller regional aircraft, bringing work back in house, and extending profitability over the life of an aircraft.  Meanwhile, suppliers worked to counter balance OEM pressures by combining and building out complete systems
Q2 2018
Through Q1 2018, merger and acquisition (M&A) volume and investment activity, both early stage and later stage, has been off to an impressive start across the FinTech spectrum.  Notable Q1 transactions included Silverlake Partners’ $500.0 million investment in Credit Karma, valuing the company at $4.1 billion; CME’s $5.4 billion bid for UK’s NEX trading & risk management platform; and RBS’ announced acquisition of FreeAgent (an accounting software provider for freelancers) for $75.0 million.  Additionally, the largest of all IPO’s year-to-date
Q2 2018
Impressive levels of merger and acquisition (M&A) activity in the Packaging industry through year-to-date (YTD) 2018 suggests that the industry remains in a consolidation phase following consecutive years of significant deal volume in 2016 and 2017. There have been 38 transactions announced or closed through YTD 2018, compared to 36 in 2016 and 34 in 2017 during the same period. Target companies are experiencing significant interest from a diverse range of strategic and financial buyers.

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