Loughlin Management Partners + Co. Acquired By BDO
7 Mile Advisors acted as the exclusive sell-side advisor to Loughlin Management Partners + Co. in their sale to BDO.
BDO USA, LLP ACQUIRES LOUGHLIN MANAGEMENT PARTNERS + CO
The acquisition will expand BDO’s turnaround and restructuring services and operational consulting capabilities, and is aligned with market trends indicating that Financial Advisory and Accounting services providers are preparing for an economic adjustment.
CHARLOTTE, NC — 7 Mile Advisors, a boutique investment bank with a strong history advising management consulting and business services firms, announces the acquisition of Loughlin Management Partners + Co (“LM+Co”) by BDO USA, LLP (“BDO”). LM+Co, a boutique business advisory firm focused on corporate restructuring and turnaround services, interim management, as well as operational value creation services tailored for private equity investors, will join BDO, one of the nation’s leading accounting and advisory firms, in an effort to expand BDO’s turnaround and restructuring services, and operational consulting capabilities. 7 Mile Advisors advised LM+Co as their exclusive sellside advisor throughout the transaction.
“Jim Loughlin and his team are tenured and consummate professionals, particularly well positioned to improve the value of businesses for shareholders,” said Tripp Davis, Partner at 7 Mile Advisors. “Joining the BDO team will only amplify their access to company owners, investors, and lenders who would benefit from their financial, operational, and performance improvement expertise.”
“I’m incredibly pleased with the outcome of this transaction”, commented LM Principal James J. Loughlin, Jr. “ The team at 7MA understood my goals and architected a thoughtful and effective sale process, identifying the appropriate strategic partner options and ultimately bringing together BDO and LM”.
The new group will operate as BDO Consulting Group, LLC, a separate legal entity and affiliated company of BDO USA, LLP. With the addition of LM+Co, BDO expands its suite of event driven business advisory services to support clients throughout their corporate lifecycle. BDO’s corporate and deal advisory services include supporting clients with mergers and acquisition transactions, business restructuring and turnarounds, operational consulting and business improvement, valuation advisory, and investment banking.
The LM+Co team enjoys strong relationships with the senior lender, creditor and equity investor communities and has served in both advisory and interim management roles in more than 200 restructuring situations. With a bench of financial and operational experts, LM+Co professionals have successfully completed more than 600 engagements, helping clients improve operating and financial performance and enhancing shareholder value. The senior professionals of LM+Co Capital, a boutique investment banking and financial advisory firm specializing in middle market and restructuring engagements, and affiliated with LM+Co will also be joining BDO.
The addition of LM+Co to BDO will be effective as of August 1, 2019. LM+Co principal and managing director, James J. Loughlin, Jr., joins BDO as Managing Director responsible for leading the firm’s business restructuring and operational value creation practices. Most of the LM+Co team will relocate to BDO’s New York office at 100 Park Avenue, with others establishing a presence for the newly acquired restructuring and operational advisory group in BDO offices around the country, including Arizona, Florida, Southern California, Texas and Pennsylvania.
“BDO is pleased to be joining forces with LM+Co to bolster the resources and national presence of our corporate restructuring and operational advisory solutions, which will greatly benefit our clients,” said Jay Duke, national managing partner of Advisory Services at BDO USA, LLP. “We value the quality of service and extensive knowledge of middle market private equity and restructuring that Jim and his dedicated team of professionals deliver to the marketplace. Our two firms’ commitment to excellence align well and will help to ensure a successful, bright future together.”
Mr. Loughlin also stated, “Bringing our firms together will strengthen our combined offering as a value-added service provider across the entire corporate lifecycle and mergers and acquisition continuum. With the national and international resources of BDO behind us, our ability to provide clients with effective, tailored solutions to complex situations is significantly enhanced. I couldn’t be more excited about the future. This strategic combination is a win-win for all parties, especially our clients.”
Known for its outstanding reputation, LM+Co has consistently won industry accolades including the “2019 Boutique Consulting Firm of the Year” by the Global M&A Network for the Turnaround Atlas Awards and numerous awards from the Turnaround Management Association.
7 Mile Advisors continues to be active in the Business Services and Management Consulting space, regularly covering the industry via whitepapers, quarterly earnings synopses, blogs, and podcasts. The firm serves their global client base from 5 regional offices, and has completed seven transactions to date this year.
“Through the representation of LM+Co, 7 Mile Advisors gained first-hand insight into a trend that we’ve been tracking for some time. This transaction is yet another example of a market leading accounting, financial advisory, or investment banking firm diversifying its offerings while bolstering counter-cyclical capabilities in an effort to prepare for the next economic downturn. Interested parties focused on our analysis of the tenure of credit and equity market expansion, high corporate debt as a percentage of GDP, and increased global/political risk as contributing factors towards a potential correction in the near future,” said Tim Frye, Director at 7 Mile Advisors. “In preparation for the next economic cycle, organizations continue to evaluate and acquire capabilities that will allow them to capitalize on related opportunities.”
Through the representation of Loughlin Management Partners + Co, 7MA was actively involved in the communication and evaluation of buyers’ thoughts and perspectives on the importance of maintaining Value Creation and Turnaround Management consulting expertise.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit 7mileadvisors.com.
About BDO USA
BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax and advisory services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through more than 60 offices and over 650 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of more than 73,000 people working out of 1,500 offices across 162 countries.
Restructuring and turnaround services within the United States are offered through BDO Consulting Group, LLC, a separate legal entity and affiliated company of BDO USA, LLP, a Delaware limited liability partnership and national professional services firm. Certain restructuring and turnaround services may not be available to attest clients of BDO USA under the rules and regulations of public accounting.
BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a U.K. company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information please visit: www.bdo.com.
BDO USA, LLP
Ariail Barker, 7 Mile Advisors
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Sally Slater, Bliss Integrated Communication
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