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How Wayfair v. South Dakota Changed M&A Due Diligence

Posted 5:50 PM by
The U.S. Supreme Court recently shifted one of the foundational principles that determine how a state can tax business transactions within its boundaries. This change will have a cascading effect in the deal space. In South Dakota v. Wayfair (Wayfair), the court held that an out-of-state company could establish nexus by exceeding certain thresholds of dollar volume or number of sales into the state, a standard known as “economic nexus.” Moving forward, potential buyers and sellers need to understand the new complexities the Wayfair decision has added to the due diligence process. It is more important than ever to have deep knowledge of what the target business sells, where it has established nexus, and whether or not it has complied with obligations in those states.
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Do You Know the Value of Your Transportation Company?

Posted 6:30 PM by
The transportation industry thrived in 2018. While signs point to some correction in 2019, the state of the market is currently strong, bank capital is readily available, and private equity firms are eager to get into the industry. These factors and more make this an appealing time for some owners to consider selling. Others are looking closely at growth opportunities such as investment in new technology and equipment.
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Quality of Earnings Engagements Provide Confidence in ESOP Transactions

Posted 12:30 PM by
When an owner decides to sell his or her company to an Employee Stock Ownership Plan (ESOP) trust, one of the most impactful factors in the transaction is the company’s value. The ESOP trustee establishes the company’s value, which affects the total transaction price. It is vital that the price is as close to the company’s actual value as possible so the seller is compensated appropriately and the participants of the ESOP are not overpaying for the company.
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Lee to Moderate Panel at 2018 Kelley School of Business Private Equity Conference

Posted 6:57 PM by
Katz, Sapper & Miller’s Mike Lee, a partner in the firm’s Transaction Services Group, will moderate a panel at 2018 Kelley School of Business Private Equity Conference. The conference, which takes place on Oct. 4 at the Conrad Indianapolis, will gather private equity specialists, investment bankers, and industry professionals to discuss the latest trends and strategies.
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Valuing Closely Held Businesses: What You Need to Know

Posted 5:45 PM by
The valuation of closely held companies is a large and growing practice. However, most people are not aware of this valuation activity since the companies being valued are closely held and, thus, private in nature. Additionally, since closely held entities are typically smaller than publicly traded entities, fewer investors are affected by the results of such valuations.
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Hooper to Address M&A Issues at American Trucking Associations Conference

Posted 2:08 PM by
Katz, Sapper & Miller’s Randy Hooper will participate in the 2018 American Trucking Associations (ATA) National Accounting & Finance Council (NAFC) Conference.
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Halstead and North to Speak at Faegre Baker Daniels’ 2018 M&A Conference

Posted 4:00 AM by
Katz, Sapper & Miller’s Chad Halstead and Mike North will speak at Faegre Baker Daniels’ 2018 M&A Conference. Taking place May 10 at the JW Marriott in downtown Indianapolis, this annual conference provides dealmakers the opportunity to learn about the latest industry trends, discuss complex mergers and acquisitions (M&A) topics, and network with others in the local M&A community.
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M&A in 2018: A Look at the Year Ahead

Posted 5:00 AM by
After record levels of dealmaking the prior two years, 2017 saw a slight decline in both the volume and number of U.S. private equity deals. With technology disrupting every industry, multiples remaining high, and fundraising reaching record levels, what will M&A look like in 2018?
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Top 10 Posts from 2017

Posted 1:28 PM by
We could not say goodbye to 2017 without revisiting the year’s most popular content. We believe these posts illustrate the depth and varied experience of our firm as well as our commitment to helping our clients further their growth and success.
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KSM Named Accounting, Due Diligence Firm of the Year

Posted 5:00 AM by
Katz, Sapper & Miller has been named Accounting/Due Diligence Firm of the Year by The M&A Advisor.
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