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Spring 2018 Conference Workshops
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All workshops occur on Tuesday, May 8 and run throughout the day, starting at 8:00 am. 

8:00 am - 9:30 am

Capital Market Readiness - It's Never Just About the Money

Moderator: Doug Tatum

A panel of board-level advisors will discuss the notion of capital market readiness in the context of an entrepreneurial founder-owner’s mindset and willingness to sell -- what drives entrepreneurs or family business owners to actually decide to sell – when, why, and under what circumstances does that decision get made.

9:45 am - 10:45 am

Selling to a Public Company: Preparing Your Clients to Maximize Value

Moderator: Larry Stevens

The combination of a booming economy, cash-rich balance sheets, cheap financing, and diminishing opportunities for organic growth have caused corporate buyers to refocus attention on middle-market acquisition targets. This workshop is designed to help participants understand the vagaries and differences in selling to a public company, versus a private buyer, and what sellers should expect in valuation, diligence, and process. 

The workshop will also prepare advisors to better manage their clients’ expectations with respect to people or talent issues, communications, timing, earn outs, escrows, purchase price adjustments and other closing issues.

10:45 am - 11:45 am

Tax Reform and its Impact on Business

Moderator: Monty Walker

The Tax Cuts and Jobs Act of 2017 was signed into law on December 22, 2017. It represents the most significant overhaul of our tax laws in over 30 years. The act contains substantial changes to the taxation of businesses, individuals, tax-exempt organizations, and others. Initially, the package was aimed at simplification, but the changes enacted are anything but simple.

The hallmark of the new legislation is the reduction in the maximum corporate tax rate and the reduction in the maximum tax rate imposed on owners of pass-through entities, such as partnerships and S corporations, with respect to qualified business income.  The new law will have a profound impact on tax planning for corporations, partnerships, sole-proprietorships, and their respective owners.

This workshop will cover the details of the biggest U.S. tax legislation changes since 1986 and how these changes will affect business tax planning and business transactions. 

1:45 pm - 2:45 pm

Critical Decisions in the M&A Process: Positioning Your Firm to Attract and Close Sell-Side Assignments

Moderator: Greg Carpenter

In this workshop, we outline a program to create the actions you can take to attract middle market sellers and convert them to clients. Topics include key decision points most often used by sellers to choose an M&A intermediary, elements of a successful marketing program, website design, lead generation, presentation materials, managing the seller interview and closing the sale.

2:45 pm - 3:45 pm

Getting Search Fund Deals Done

Moderator: Heather Endresen

There has been significant growth in the number of active “Search Funds” actively seeking businesses to acquire in the lower middle market. This panel will explore the origins of this growth (entrepreneurship through acquisition courses being taught at major business schools) and the differences in the various Search Fund models. The panel will discuss best practices for an effective and efficient dialogue in working with this type of buyer.

4:00 pm - 5:00 pm

Working Capital  The Importance of Managing Liquidity and Efficiency

Moderator: Lauren Glazebrook

In this workshop, we will discuss the different approaches used to calculate working capital and when it is appropriate for working capital to be included in the purchase or sale of a business. In addition, we will cover how intermediaries can help ensure the consideration received is what the seller believes it should be, and how to best prevent deals from falling apart as a result of working capital.

Lastly, we will touch on current trends in net working capital pegs in purchase agreements, how to mediate disputes over time, and the methodology differences between pre and post acquisition analysis.