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Resources for Sound Business Decisions.™

Middle Market M&A: Handbook for Investment Banking and Business Consulting

Book Review

Middle Market M&A: Handbook for Investment Banking and Business Consulting was written by Kenneth Marks, Robert Slee, Chris Blees and Michael Nall and published by John Wiley and Sons. None of the authors are strangers to middle-market M&A.

There are numerous books that deal with mergers and acquisitions. Does the body of literature about M&A really need another book? Is this just a rehash of the same-old, same-old? Does Middle Market M&A have something fresh and useful for the reader?

Any book that facilitates sound dealcraft is a welcome addition to the body of M&A knowledge. The Middle Market M&A handbook is a worthwhile addition.

One of the decided differences about Middle Market M&A compared to other works is its unambiguous focus on the middle market written by practitioners who live it. Its voice is clear and that is refreshing.

The book articulates the middle-market mindset. It’s not about main street—mom and pop businesses. It’s not about Wall Street Megadeals. However, practitioners of both can find fresh perspective on the middle market. Moreover, mid-market acquirers and sellers will benefit from this work by gaining a deeper appreciation of the M&A process and the mindset of the intermediaries who specialize in the market’s unique needs.

This publication reflects the continuous evolution and maturity of the middle-market advisory and transaction specialist. Much of its richness is drawn from the material and shared experiences of the instructors and students of the Certified Merger and Acquisition Advisor (CM&AA) certification offered by the Alliance of Merger and Acquisition Advisors (AMAA).

Middle Market M&A steps the reader through the M&A process and market—both domestic and global. But the book is more than a technical treatise on deal making. While it includes a great deal of technique and operating knowledge, one of its most valuable characteristics is that it provides a “market perspective.” The book’s content is more accessible because of this context.

Much of this market perspective is inspired by Rob Slee’s work on Private Capital Markets, an area that is under-covered in the business press and our educational system. Not surprisingly, Rob Slee is one of the book’s authors.

Given its size, the Middle Market M&A handbook can’t drill down into the subject matter, but it does provide an excellent overview and framework for mid-market dealcraft. It’s well organized and a dealmaker can refer to the sections that address the challenges they are facing at any given stage of the deal process.

If you are in the middle M&A market—whatever the role—this is a book you will want to read and keep handy.

Robert Machiz,
MoneySoft, Inc.

MoneySoft, Inc. was founded in 1991 in Phoenix, AZ. The company creates and publishes specialized software productivity solutions for fixed asset accounting, business valuation and evaluation the economics of middle-market merger and acquisition situations.

©2013 MoneySoft, Inc.