September 17, 2020
Boston, MA – Capstone Headwaters released its Precision Manufacturing Mergers & Acquisitions (M&A) Update today, reporting that transaction activity in the Precision Manufacturing industry has remained strong despite the pandemic. Through August, 81 transactions were announced or closed compared to 64 through the same period in 2019—a 26.5% increase year-over-year (YOY). The importance of end market exposure has been greatly exacerbated by COVID-19, with the Automotive, Energy, and Oil & Gas industries all facing dampened demand. Manufacturers that serve resilient sectors in select areas of Medical, Electronics, Consumer Goods, an
September 17, 2020
Boston, MA – Capstone Headwaters released its Water Infrastructure update today, reporting that pre-COVID trends of rapid urbanization and aging water and wastewater infrastructure have been catalysts for innovation and advancement in the Water Infrastructure industry. While COVID-19 has stressed revenues and financial visibility, it has also accelerated the adoption of digital and remote technologies to drive effective asset management, efficiency, and cost reduction in water systems.
September 10, 2020
Boston, MA – Capstone Headwaters released its Health & Wellness update today, reporting that existing consumer preferences towards nutritional supplements and functional food products have been substantially accelerated by COVID-19, evidenced by the 76% year-over-year increase in Vitamin C supplement sales during the first half of 2020, according to Nielsen. Top public players in the Health & Wellness industry have showcased resilience despite supply chain disruption and distribution challenges. Industry participants with robust e-commerce presences and sound supplier networks, coupled with online brand recognition, have captured sustained custom
September 8, 2020
Boston, MA – Capstone Headwaters released its September Chemicals Update today, reporting that demand has bottomed out in Q2 as shown by leading Chemicals public companies’ earnings commentary, with a resurgence pending the containment of the virus. As economies continue to reopen, downstream demand is expected to recover, with gains in the U.S.
September 8, 2020
Boston, MA – Capstone Headwaters released its Medical Device Outsourcing update today, reporting that while COVID-19 has severely hampered sales for medical device original equipment manufacturers (OEMs), the resumption of elective surgeries has begun to restore demand for devices and instruments. U.S. procedure volume stood at 30% of pre-COVID levels at the start of Q2 but has grown to recover near the rate seen at the beginning of the year, according to Intuitive Surgical (Nasdaq:ISRG).
August 31, 2020
Boston, MA – Capstone Headwaters released its Q2 2020 Nonprofit Software update today, reporting that fundraising software companies have experienced increased year-over-year digital giving and increased pipeline activity. COVID-19 has substantially impacted the segment with positive long-term implications as nonprofits seek to diversify their fundraising with a heavier focus on digital channels. Initial indications from our conversations show success with virtual events, raising possibilities of a shift to more virtual events in the future which seem to be delivering higher return on investment (ROI) given the high cost and effort for in person events.
August 28, 2020
Boston, MA – Capstone Headwaters released its Q2 2020 Human Capital Management (HCM) SaaS Report today, reporting last twelve-month merger and acquisition activity was strong with 150 deals and dollar volume of $7.6 billion, predominantly occurring prior to COVID-19. In Q2 2020, deal activity fell to 25 deals compared to a record 48 deals in Q1. As the country gets back to work, Capstone Headwaters expects the HCM SaaS industry to rebound with some potentially new longer-term trends emerging as capabilities like remote employee management and increased use of outsourced contractors provide more staffing flexibility.
August 27, 2020
Boston, MA – Capstone Headwaters released its Q2 2020 Capital Markets Update today, reporting that middle market merger and acquisition (M&A) activity has declined 21.6% year-over-year (YOY) through Q2 as COVID-19 severely impacted transaction volume. Buyers have focused internally to mitigate operational and financial disruptions due to COVID-19 while lenders have concentrated on protecting their loan portfolios. Private equity (PE) middle market deal activity fell nearly 50% YOY through Q2, as PE firms focused on the health of platform investments while primarily pursuing smaller add-on acquisitions.
August 20, 2020
Boston, MA – Capstone Headwaters released its Education Technology Coverage Report today, reporting that the COVID-19 pandemic has ignited a transformation in the Education industry by necessitating the widespread adoption of technological tools and validating the crucial role that education technology must play in both the short and long-term. According to the report, merger and acquisition (M&A) activity prior to the COVID-19 outbreak was on pace to exceed last year’s record-high deal activity. From January to March, 42 transactions were announced or closed compared to 33 during the same period in 2019—a 28% increase. However, yea
August 19, 2020
Boston, MA – Capstone Headwaters released its Q2 Middle Market Leverage Finance report today, reporting that middle market (MM) lending activity came to a screeching halt in Q2 and only recently has new issuer volume returned. However, the focus initially has been on opportunistic, well-structured financings involving fundamentally sound businesses in recession-resistant sectors. According to the report, companies in cyclical sectors hard-hit by the recent market changes will still be able to find new capital, but on decidedly investor-friendly terms that will reflect today’s higher loan pricing, conservative valuations, and creative risk-retu
August 18, 2020
Boston, MA – Capstone Headwaters released its August 2020 SaaS & Cloud Report today, reporting merger and acquisition (M&A) activity fell in Q2 2020 to 473 deals for the quarter, better than Capstone Headwaters expected, as deal activity remained surprisingly high though deals tended to be smaller transactions at weaker multiples. M&A revenue multiples of 3.3x for private targets and 3.7x for public targets are down from 2018 and 2019 levels with Q2 hitting some of the lowest quarterly numbers on record.
August 18, 2020
Boston, MA – Capstone Headwaters released its August 2020 Environmental, Health & Safety (EH&S) Report today, reporting EH&S operators that provide personal protective equipment (PPE) as well as sanitization products and services have seen an unprecedented uptick in demand as states follow suggested Center of Disease Control (CDC) and Occupational Safety and Health Administration (OSHA) guidelines to protect workforces and prevent the virus’ spread.
August 17, 2020
Boston, MA – Capstone Headwaters released its August 2020 Food & Beverage Report today, reporting robust activity from January through March, outpacing 2019 volumes by nearly 15%. However, deal activity significantly slowed starting in April and is now down 10.6% through July.
August 14, 2020
Boston, MA – Capstone Headwaters released its Pharmaceutical Outsourcing report today, reporting that despite COVID-19 induced disruption, merger and acquisition activity has remained robust in the Pharmaceutical Outsourcing industry with 37 transactions announced or completed in year-to-date (YTD) 2020, slightly outpacing the 36 transactions in YTD 2019.
August 12, 2020
Boston, MA – Capstone Headwaters released its Healthcare Information Technology (IT) Update today, reporting that the industry is undergoing an accelerated growth phase as the pandemic pushes the Healthcare industry to innovate and meet patient demand despite limitations on in-person visits.
August 11, 2020
Boston, MA – Capstone Headwaters released its August 2020 Building Products report today, reporting that COVID-19 has created unprecedented
August 7, 2020
Boston, MA - Capstone Headwaters, a leading middle market investment banking firm, is pleased to announce the addition of Managing Director Kenneth Wasik. Mr. Wasik will lead Capstone’s Consumer & Retail Group.
July 21, 2020
Boston, MA - Capstone Headwaters was named U.S. Middle Market “Investment Bank of the Year” by ACQ5 Magazine during their 2020 Global M&A Awards.
April 9, 2020
Boston, MA - Capstone Headwaters, a leading middle market investment banking firm, has expanded its Financial Advisory Services (FAS) practice with the addition of Managing Director Jack Bradley. Jack is highly successful at initiating and negotiating complex transactions, including debt restructurings and acquisitions, and has extensive mergers & acquisitions experience in due diligence, valuation, terms, and deal structure.
April 6, 2020
Denver, CO - This week, Capstone Headwaters' President, Phil Seefried, was interviewed by Private Equity Professional regarding his perspective on the deal market in the midst of the coronavirus outbreak. In the article "Nobody Knows Anything", written by GF Data CEO Andy Greenberg, Seefried shares his view on the current M&A deal pipeline. Here is an excerpt from the article:
"According to Phil:
