Smart Business Dealmakers: The Middle-Market M&A Podcast

West Monroe Senior Partner Keith Campbell stops by to talk about The Future of Diligence in Private Equity, which just happens to be the title of a report he recently co-authored. Highlighting survey findings from 100 U.S. PE companies, it explores the shifts in diligence approach that move away from identifying risk to identifying opportunity, greater data needs and the application of data analytics tools in a more commonly remote setting. Keith talks about how much progress has been made toward these changes as well as what middle-market companies headed toward a process should expect from this new diligence approach.

Venable Partner Chuck Morton has been recognized for decades as one of best middle-market deal lawyers in the United States. During his time as an M&A attorney, he's seen business leaders make some excellent choices and some not-so-brilliant decisions. He sat down with the Dealmakers Podcast to elaborate on both and provided specific examples.

After 20 years of working in PE at different firms, Jared Paquette has stepped out on his own, launching Conanicut Capital. Targeting the lower-middle-market, his aim is to deploy patient capital at founder-led businesses to help them grow. He talks about launching the firm, the first deal and how the process of getting capital backing for the firm affected how he looks not just at deals, but his own business.

Cloud Range is a cybersecurity company led by security executives and engineers who encourage military-grade simulation training for enterprise security teams. The company recently raised its first round of outside capital from three different investors. Founder and CEO Debbie Gordon talks about what that process was like for her, what she's learned that she'll apply to future rounds, and how the company plans to use the investment to grow the business.

STAQ Pharma recently raised about $45 Million of Series C venture funding to build a $70 million facility on the west side of Columbus, which will add 300 jobs to the area. Its 503B Outsourcing Facility will produce compounded medications under the Current Good Manufacturing Process (cGMP) quality system, a Federal Drug Administration standard. CEO Joe Bagan sat down with the Dealmakers Podcast to discuss the capital raises and the new, much larger facility being built in Columbus.

Michael Pearson launched Union Packaging in 1999. Over nearly 20 years, he grew it to employ some 100 people, many of which he hired from what he calls non-traditional sources. Recently he sold that business to LBP Manufacturing, and became a partner at Iron Stone Real Estate. In addition, he's giving back to the community through board participation at many Philadelphia organizations. Mike shares the story of Union Packaging, how he prepared for and executed its sale, and offers advice for those getting ready for life after an exit.

Nick Mirchef and his son-in-law, Chris Pflanz, went through the trails and tribulations of early-stage capital raises with their company SmartWitness, a pioneer in video telematics. They found a big payday at the end of it all. Today, they offer others advice using their experience as a guide.

In four short years, Detroit-based startup Airspace Link went from a couple founders and a few employees to recently raising $23 million in a Series B to aid its global expansion. It started with a $100,000 convertible note, a $3 million pre-seed, a $10 million Series A and now the global expansion raise. Michael Healander, co-founder, president and CEO, is a drone pilot enthusiast who envisions the positive impact drones could provide to economies and quality of life. His company is creating a roadmap in the sky for drones of all types and sizes.

Boon Logic, developer of machine-learning based anomaly detection algorithm, is completing its second funding round over the last four years with a nearly $40 million pre-money valuation to support the commercialization of two disruptive services. CEO Grant Goris sits down to discuss how the company was born, how it has grown, and what he's learned about raising capital along the way.