Latest News

We focus on local and international deals up to US$500 million in value across a wide range of sectors. Since the start of 2012 our partner firms have collectively completed over 230 deals, in 30 countries worldwide with an aggregate value of over US$17.5 billion.

Headwaters MB Announces Merger with Source Companies

15th September 2011

Denver, CO – September 15, 2011 – Mergers Alliance's US partner firm Headwaters announced today that it has merged with Source Companies, LLC

Denver, CO – September 15, 2011 – Mergers Alliance's US partner firm Headwaters announced today that it has merged with Source Companies, LLC, which was founded in 1982 to provide business owning families and family offices with growth strategy, company capitalization, governance development, and generational transition services for middle market businesses. Source has successfully represented hundreds of privately owned companies on billions of dollars worth of growth initiatives, financings, liquidity generation and intergenerational transfers. Source has also developed a highly specialized capability in its ability to provide direct investment services for family offices. As part of the merger, Source will continue to provide its traditional services but has been rebranded and will hereafter operate as Headwaters SC. James C. Bly, Jr., a founder and the president of Source, remains a principal shareholder in the merged company and will serve as the Chairman & CEO of Headwaters SC. Mr. Bly and Philip W. Seefried, the Co-Founder & CEO of Headwaters will share certain group responsibilities as Co-Chairmen. Through this business combination, Headwaters has been able to expand its service offerings to include merchant banking, investment banking, integrated advisory and family office direct investment services on a single platform. This merger will enable Headwaters, through its twelve offices, to provide longer-term support for its business-owning clients, and to offer a range of services not typically offered by middle market investment banks. Phil Seefried, Co-Founder & CEO of Headwaters, said, “We are thrilled to combine forces with Source Companies. Jim Bly and his team have a proud history of advising business owning families and family offices for nearly 30 years, and they bring along impressive reach in placing direct investments with family offices. This combination expands our platform to now include four distinct capabilities: on the advisory side we now offer both full service investment banking and a unique range of advisory capabilities for business owning families and family offices; on the proprietary capital side, we have our merchant banking funds as well as access to over 1700 family offices for the placement of direct investments. This expanded and integrated service platform better positions Headwaters to be responsive to the short- and long-term needs of private company owners, many of whom are facing once-in-a-generation decisions concerning the transition needs of their companies and their family’s wealth. Headwaters now offers a complete array of services to address these needs on a national basis.” James Bly, Chairman & CEO of Headwaters SC, commented, “During the past three decades, we have developed an ability to provide integrated advisory services to clients through our multi-disciplinary professional team. The businesses owned by our clients typically represent 20%-to-90% of their families’ personal net worth. We think of businesses as assets that need to be managed for growth and value creation, just like other financial or investment assets owned by families and family offices. The needs and objectives of business owning families and family offices are often quite unique, requiring advisors with special experience and skills. Our combination with Headwaters strengthens our ability to support clients when a financing transaction or M&A transaction is required to grow their businesses or monetize. Our broader service capabilities also recognize the fact that the owners of growing, profitable private companies often own companies that are located in smaller cities, towns or rural regions. The owners of such companies, as long as they are growing and profitable, tend to operate their companies with a purpose beyond profit. We firmly believe that the growth and perpetuation of such businesses is beneficial on many levels, and our combination with Headwaters will now enhance our ability to support them.” Paul Janson, COO & President of Headwaters added, “Like Headwaters, Source services many clients which are referred by major wealth management institutions. Source’s first such wealth management industry relationship dates back to 1989. With the addition of Headwaters SC to our platform, we now have relationships with numerous major private wealth management companies and other private wealth advisors. We are committing significant resources to work with these partners to serve their clients. I believe that we can safely say that Headwaters is now the leading independently owned growth advisory and investment bank serving the private wealth industry in the US.”
< Back

latest opinion

How US private equity firms are differentiating themselves from the competition

I have recently met with private equity (PE) firms covering the US lower and middle mid-market, first in San Francisco at our international partner conference and then at the Association for Corporate Growth (ACG) InterGrowth conference in Las Vegas, which brought together sponsors with collective firepower of over $160 billion and who are responsible for around four per cent of all PE deals in the US last year.…

Cyber security: there's no such thing as bad publicity

Yet again, another large-scale cyber security attack has come out as a major news story.…

America First In The Trump Raj

US President Donald Trump has proposed a massive reduction in corporate tax rate to 15 per cent. The move, if passes muster, could be good for Indian companies but bad for the country.…

INDIAN ELECTIONS – IN THE PRICE

Indian state elections were announced over the weekend and the ruling party led by Prime Minister Modi- Bhartiya Janta Party (BJP) were the clear winners with a sweep in the key state Uttar Pradesh (UP)…

Strong M&A outlook for mid-market pharma

The dynamics highlighted by this year’s Catalyst Pharma Fast 50 show that the sector is prime for further acquisitions and private equity investment.…

Mega Indian Telco Merger: Better late than never

Two out of India's Top 3 telco operators, Vodafone (No 2) and Idea Cellular (No 3) confirmed their merger plan earlier this month.…

Industrial Distributor Sector Overview

The latest issue of our Industrial Technology Value-Added Distributors Sector Overview, highlighting trends in M&A, financing, IPOs and capital markets for private and public companies in Industrial Technology sector, is now available.…

Trump victory & scrapping of Notes. Near term jitters provide opportunities

Two major events-one domestic and other global, have led to market jitters which in our view present an opportunity for value buying…

Agricultural Equipment and Fertilizer Update

Recent activity in the agriculture space has shown continued consolidation and financing needs. Please see our update published recently.…

So they made an offer, now what?

Financial and strategic buyers are making offers directly to business owners…

View more >

latest deals

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 1006
  'completion_date' => string '2017-07-26T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean true
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=4)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      3 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Khronos Advisory advised Star Energy Group on the sale of 33% equity stake in Star Energy Group Holdings Pte Ltd to BCPG Public Company Limited,&hellip;' (length=152)
  'display_name' => string 'Star Energy Group - Project Planters' (length=36)
Star Energy Group - Project Planters

Khronos Advisory advised Star Energy Group on the sale of 33% equity stake in Star Energy Group Holdings Pte Ltd to BCPG Public Company Limited,…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 997
  'completion_date' => string '2017-07-14T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=4)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      3 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Ethica Corporate Finance advised the shareholders of Surfaces Technological Abrasives S.p.A. on the sale of the 100% stake to the Paris-based private equity firm Astorg&hellip;' (length=176)
  'display_name' => string 'Surfaces Technological Abrasive S.p.A. - Surface' (length=48)
Surfaces Technological Abrasive S.p.A. - Surface

Ethica Corporate Finance advised the shareholders of Surfaces Technological Abrasives S.p.A. on the sale of the 100% stake to the Paris-based private equity firm Astorg…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 1004
  'completion_date' => string '2017-07-11T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=4)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      3 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Capitalmind advised Pneutec on the sale to Dutch listed company Aalberts Industries. The Dutch listed technology firm Aalberts Industries acquired 100% of the shares of&hellip;' (length=176)
  'display_name' => string 'Pneutec' (length=7)
Pneutec

Capitalmind advised Pneutec on the sale to Dutch listed company Aalberts Industries. The Dutch listed technology firm Aalberts Industries acquired 100% of the shares of…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 995
  'completion_date' => string '2017-07-10T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=3)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Ethica Corporate Finance, advised the shareholders of API – Applicazioni Plastiche Industriali – on its sale to listed US player Trinseo (NYSE:TSE), a global materials&hellip;' (length=179)
  'display_name' => string 'API S.p.A - API' (length=15)
API S.p.A - API

Ethica Corporate Finance, advised the shareholders of API – Applicazioni Plastiche Industriali – on its sale to listed US player Trinseo (NYSE:TSE), a global materials…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 992
  'completion_date' => string '2017-06-28T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=5)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      3 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      4 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Ethica Corporate Finance advised the shareholders of Maffi S.r.l., the holding company which controls MAW, in the sale of the 82.5% stake to Proa, the&hellip;' (length=158)
  'display_name' => string 'MAW Men at Work Agenzia per il Lavoro S.p.A.' (length=44)
MAW Men at Work Agenzia per il Lavoro S.p.A.

Ethica Corporate Finance advised the shareholders of Maffi S.r.l., the holding company which controls MAW, in the sale of the 82.5% stake to Proa, the…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 999
  'completion_date' => string '2017-06-02T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=3)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'A minority of the shares of Springest were sold to FD Mediagroep (also known as FDMG) (with the option to acquire the other part of the&hellip;' (length=144)
  'display_name' => string 'Springest B.V. - Springest' (length=26)
Springest B.V. - Springest

A minority of the shares of Springest were sold to FD Mediagroep (also known as FDMG) (with the option to acquire the other part of the…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 993
  'completion_date' => string '2017-06-01T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=3)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Ethica Corporate Finance advised Europe Capital Partners V, the PE holding the majority stake of Doctor Dentist, on the sale of its 60% stake to&hellip;' (length=152)
  'display_name' => string 'Doctor Dentist S.r.l. - Doctor Project' (length=38)
Doctor Dentist S.r.l. - Doctor Project

Ethica Corporate Finance advised Europe Capital Partners V, the PE holding the majority stake of Doctor Dentist, on the sale of its 60% stake to…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 988
  'completion_date' => string '2017-06-01T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=2)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Origin Merchant Partners acted as exclusive financial advisor to Avena Foods Limited (“Avena”) on its sale to Ironbridge Equity Partners (“Ironbridge”).' (length=160)
  'display_name' => string 'Avena Foods Limited' (length=19)
Avena Foods Limited

Origin Merchant Partners acted as exclusive financial advisor to Avena Foods Limited (“Avena”) on its sale to Ironbridge Equity Partners (“Ironbridge”).

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 976
  'completion_date' => string '2017-05-29T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=3)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Odin Financial Advisors advised iyzico in its Series C fundraising round, led by Vostok Emerging Finance, in order to boost expansion in Europe and Middle&hellip;' (length=162)
  'display_name' => string 'iyzico' (length=6)
iyzico

Odin Financial Advisors advised iyzico in its Series C fundraising round, led by Vostok Emerging Finance, in order to boost expansion in Europe and Middle…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 977
  'completion_date' => string '2017-05-17T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=4)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      3 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Capitalmind advised SYLPA Group on its acquisition ENTRA Group in a competitive process. Following its third MBO backed by EPF Partners (PE fund) in July&hellip;' (length=161)
  'display_name' => string 'ENTRA' (length=5)
ENTRA

Capitalmind advised SYLPA Group on its acquisition ENTRA Group in a competitive process. Following its third MBO backed by EPF Partners (PE fund) in July…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 972
  'completion_date' => string '2017-05-09T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=3)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'The initiator, Dr. Dietrich Schrapper, a long term Capitalmind client, together with Ufenau has completed the first part of this transaction by acquiring the nucleus&hellip;' (length=173)
  'display_name' => string 'DermaClin Deutschland GmbH - Project Wilhelm' (length=44)
DermaClin Deutschland GmbH - Project Wilhelm

The initiator, Dr. Dietrich Schrapper, a long term Capitalmind client, together with Ufenau has completed the first part of this transaction by acquiring the nucleus…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 971
  'completion_date' => string '2017-05-05T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=4)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      3 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'i-SOLUTIONS Health is a provider of hospital / laboratory / radiology information systems. The company is an established brand on the German healthcare IT market&hellip;' (length=169)
  'display_name' => string 'i-SOLUTIONS HEALTH GmbH' (length=23)
i-SOLUTIONS HEALTH GmbH

i-SOLUTIONS Health is a provider of hospital / laboratory / radiology information systems. The company is an established brand on the German healthcare IT market…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 970
  'completion_date' => string '2017-04-28T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=2)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Headwaters MB advised Neya Systems LLC, a leading developer of unmanned systems for defense, homeland security, and commercial users, on its sale to Applied Research&hellip;' (length=173)
  'display_name' => string 'Neya Systems' (length=12)
Neya Systems

Headwaters MB advised Neya Systems LLC, a leading developer of unmanned systems for defense, homeland security, and commercial users, on its sale to Applied Research…

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 974
  'completion_date' => string '2017-04-20T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=6)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      3 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      4 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      5 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Catalyst advised LDC on the secondary management buy-out of Addo Food Group.' (length=76)
  'display_name' => string 'Addo Food Group' (length=15)
Addo Food Group

Catalyst advised LDC on the secondary management buy-out of Addo Food Group.

/var/www/mergers/website/views/scripts/deals/feed.php:10:
array (size=7)
  'id' => int 986
  'completion_date' => string '2017-04-13T00:00:00+0000' (length=24)
  'publicised_transaction' => boolean false
  'hide_on_website' => boolean false
  'involved_users' => 
    array (size=5)
      0 => 
        array (size=2)
          'level' => int 0
          'user' => 
            array (size=1)
              ...
      1 => 
        array (size=2)
          'level' => int 1
          'user' => 
            array (size=1)
              ...
      2 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      3 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
      4 => 
        array (size=2)
          'level' => int 2
          'user' => 
            array (size=1)
              ...
  'intro' => string 'Headwaters MB advised RAGE Frameworks, a leader in knowledge-based automation technology and services providing Artificial Intelligence (AI) for the Enterprise, on its sale to Genpact&hellip;' (length=191)
  'display_name' => string 'Rage Frameworks, Inc.' (length=21)
Rage Frameworks, Inc.

Headwaters MB advised RAGE Frameworks, a leader in knowledge-based automation technology and services providing Artificial Intelligence (AI) for the Enterprise, on its sale to Genpact…

View more >
'http://api.mergers-alliance.com/api/public'