The parade of aggressive business buyers competing for the acquisition of middle market companies marched mightily through 2019. Enormous floats comprised of lenders offering inexpensive debt, private equity groups stretching on valuations and strategic buyers clamoring for growth was a welcome sight to see for business owners selling quality companies. While we can’t predict how long the parade will march, the drum beats remain consistent and loud as we enter 2020.
Nolan was fortunate to capitalize on the M&A market conditions in 2019 with the closing of 16 transactions. We welcomed several wonderful people to our team this year, while seeing one of our long-time compatriots swap out his office for a retirement perch. The events of 2019 were plentiful for our firm and we’ve attempted to give you some flavor for those experiences in this annual report.
For the past 44 years we have been blessed to work with fantastic clients, management teams, professional service providers and referral partners. The bonds developed with these folks through the trials and tribulations of the M&A process are the lasting rewards of our professional efforts. The annual turn of the clock gives us a good reminder to reflect upon this and say thanks to all of you who have played a role in our success.
We wish all of you a prosperous year and hope to see many of you along the parade route in 2020.