February 22, 2021
Boston, MA – Capstone Headwaters released its Behavioral Healthcare Services Industry Update today, reporting that the industry continued to attract strong buyer interest despite economic headwinds and the global impacts of COVID-19 lockdowns.
February 19, 2021
Boston, MA – Capstone Headwaters released its February 2021 Value-Added Distribution Update today, reporting that merger & acquisition (M&A) activity rebounded in the second half of 2020, rising 207% quarter-over-quarter (QoQ) in Q3 and 15% QoQ in Q4.
February 18, 2021
Boston, MA – Capstone Headwaters released its February 2021 Building Energy Management Update today, reporting that merger & acquisition (M&A) activity declined 35%, driven by a rapid decline in deal volume in Q2. Deal volume dropped from 129 announced or completed transactions in 2019, to 84 in all of 2020.
February 8, 2021
Boston, MA – Capstone Headwaters released its Financial Technology & Payments Industry Update today, reporting that COVID-19 lockdowns have created heightened demand for the implementation of financial technology and digital payment solutions. The pandemic has also prompted an increase in e-commerce activity, and the widespread adaptation of contactless and digital payment methods via digital wallets such as Venmo.
January 26, 2021
Boston, MA - Capstone Headwaters (“Capstone”), a leading middle market investment banking firm, is pleased to announce the continued growth of the firm’s Consumer & Retail Group (“CRG”) with the addition of Managing Director Brian Boyle. He joins the Consumer & Retail Group as the most recent move in the firm’s growth strategy, which included the recent hiring of Managing Director and Group Head, Ken Wasik.
January 13, 2021
Boston, MA - Capstone Headwaters (“Capstone”), a leading middle market investment banking firm, announced it has completed the acquisition of Amherst Consulting LLC (“Amherst”) as part of a continued plan to grow the company’s Financial Advisory Services (“FAS”) group.
January 12, 2021
Boston, MA – Capstone Headwaters released its Rock Products industry update today, reporting that Construction activity has demonstrated resilience amid substantial COVID-induced headwinds, providing enhanced visibility for upstream aggregates providers. Following a 12% increase in construction starts in October led by the Nonbuilding segment, November activity modestly fell 2%, according to Dodge Data & Analytics.
January 11, 2021
Boston, MA, January 11, 2021 - Capstone Headwaters, a leading middle market investment banking firm, is honored to announce the receipt of several transaction and leadership awards from M&A Advisor, the premier global network of M&A, Turnaround and Finance professionals.
January 7, 2021
Boston, MA - Capstone Headwaters (“Capstone”), a leading middle market investment banking firm, is pleased to announce the addition of Managing Director Jamie Lisac to help lead its Special Situations Investment Banking Group (SSIB). Lisac will be based in Capstone’s Chicago office. This is the second phase of expansion for Capstone’s Financial Advisory Services (FAS) group. The first phase kicked off last month with the addition of a new team in the Denver office.
January 4, 2021
Boston, MA – Capstone Headwaters released its Apparel, Footwear, & Accessories Update today, reporting that companies have been forced to rapidly adapt their business models amid the COVID-19 pandemic, as state-mandated lockdowns restricted in-store sales and consumer spending retracted due to job losses and economic uncertainty.
December 16, 2020
Boston, MA – Capstone Headwaters released its Waste & Recycling December Update today, reporting that despite overall deal volume declines, private equity buyers, accounting for nearly 50% of transaction volume, as well as major public strategic buyers (28% of deal volume) have continued or resumed M&A to bolster geographic reach and market share while achieving operational synergies.
December 8, 2020
Boston, MA - Capstone Headwaters, a leading middle market investment banking firm, is pleased to announce the first phase of expansion for its Financial Advisory Services (“FAS”) Group, the corporate financial advisory services division of the firm. In the Denver Office, the FAS Group added a new team led by Managing Director John Koskiewicz. John and the team will be integral in building out the group’s mid-west operations.
December 2, 2020
Boston, MA - Capstone Headwaters, a leading middle market investment banking firm, was recognized at the Global M&A Network’s 12th Annual Americas M&A Atlas Awards celebrations, held virtually this year on November 16 and 17, 2020. The Awards recognize the achievements of successful dealmakers, outstanding firms and the best-growth delivering transactions.
November 17, 2020
Boston, MA – Capstone Headwaters released its E-Commerce & Internet Retailing industry update today. E-commerce demand has reached unprecedented levels amid COVID-19, with online sales rising 44.5% in Q2 year-over-year, accounting for over 16% of total retail sales, according to the U.S. Census Bureau. As consumer preferences for digital capabilities have accelerated, online marketplaces have captured heightened sales growth.
November 13, 2020
Boston, MA – Capstone Headwaters released its Q3 2020 Enterprise SaaS & Cloud Update today, reporting merger and acquisition (M&A) activity reached a record of 2,564 deals totaling over $150 billion in value over the last twelve months. M&A activity soared in Q3 to 945 deals, exceeding the prior quarterly record by nearly 300 deals while doubling Q2 volume. However, deals for the quarter tended to be smaller transactions at weaker multiples.
November 12, 2020
Boston, MA - Middle market (MM) loan volume recovered modestly in Q3, but nonetheless represented a fraction of historical levels. The rapid roll-out and adoption of government stimulus packages, including the Paycheck Protection Program, somewhat mitigated the initial impact of COVID-19 on loan portfolios. Still, LCD’s survey of portfolio managers yielded an average anticipated default rate of ~5.3% for 2020 and over 6.0% for the period ending June 30, 2021, a level nearly 400 bps wider than the same survey results at the end of 2019.
November 3, 2020
Boston, MA – Capstone Headwaters released its Outdoor Recreation & Enthusiasts update today, reporting that COVID-19 lockdowns and social distancing protocols have driven consumers to increasingly pursue recreation and leisure activities, contributing to heightened demand for outdoor, sporting goods, and tactical product manufacturers.
October 27, 2020
Boston, MA – Capstone Headwaters released its October Packaging update today, reporting merger & acquisition (M&A) activity has outpaced 2019 volumes by approximately 8% through September, primarily due to a 75% increase in Q1 year-over-year (YOY) activity. As the coronavirus induced uncertainty in capital markets, deal activity dropped sharply in Q2 and then began to pick up again in Q3.
October 26, 2020
Boston, MA – Capstone Headwaters released its Test & Measurement (T&M) Industry Update today, reporting that the performance of publicly traded T&M companies has recovered into positive territory since the onset of COVID-19. We expect this strength to continue for the remainder of the year, placing the sector in an enviable position to benefit from a return to sustainable economic growth in 2021.
October 26, 2020
Boston, MA – Capstone Headwaters released its Construction Services Industry update today, reporting that COVID-19 induced headwinds through Q2 2020 manifested in project delays and cancellations, supply chain challenges, and workforce capacity restrictions, contributing to substantial declines in construction spending. However, industry demand has rebounded in recent months, with construction notching three consecutive months of gains, rising 1.4% in August, according to the U.S. Census Bureau.