Solganick & Co.

DECEMBER 21, 2023

Navigating the Current M&A Landscape for IT Services: Cloud & Data Analytics Partners Take Center Stage by Aaron Solganick, CEO, Solganick & Co. December 21, 2023 The IT services M&A scene in 2023 has painted a dynamic picture, marked by both cautious optimism and strategic boldness.

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Software Equity Group

MAY 7, 2024

2023 saw a myriad of factors impact SaaS M&A multiples, including economic developments, technological advancements, and a public market rebound. But what are the key influences shaping valuation multiples in today’s M&A deals? The most active verticals in 2023 were Healthcare, Financial Services, and Real Estate.

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M&A Valuation Economics Business 52

Software Equity Group

MAY 8, 2024

2023 saw a myriad of factors impact SaaS M&A multiples, including economic developments, technological advancements, and a public market rebound. But what are the key influences shaping valuation multiples in today’s M&A deals? The most active verticals in 2023 were Healthcare, Financial Services, and Real Estate.

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M&A Valuation Economics Business 52

Sica Fletcher

MARCH 28, 2024

The following report contains our observations of insurance M&A trends in 2024. As a result, our analysts predict a flurry of M&A activity in H2 2024. As insurance M&A enters into the 2020s, however, buyers are looking at several additional factors that speak to an agency’s more intangible qualities.

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M&A Insurance Mergers and Acquisitions Equities 52

Sica Fletcher

MAY 29, 2024

M&A transactions for insurance companies are part of a robust but complicated market that requires ingesting a great deal of data in order to fully understand. While insurance M&A did see slight dips in deal volume and average value (Fig.2)

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M&A Insurance Equities S&P 52

Sica Fletcher

FEBRUARY 8, 2024

S&P Global’s 2023 Market Intelligence League Table Released NEW YORK, NY - February 8, 2024 - Sica | Fletcher, a premier financial advisory firm, retains its commanding presence in the #1 spot on S&P Global’s Market Intelligence League Table, a position the firm has held quarter-over-quarter since 2017.

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M&A S&P Insurance Advisory 40

Sica Fletcher

JULY 11, 2024

The following report details insurance brokerage M&A multiple averages for H1 2024. Insurance Brokerage M&A Multiples: Market Overview The 2020s have proven to be a complex market for insurance brokerages. Because several kinds of insurance are legally required (e.g., Streamlined Operations.

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M&A Insurance Debt Equities 52

Sica Fletcher

MAY 13, 2024

Q1 2024 Agency and Broker Buyer Index Reveals a Dynamic Landscape for Insurance M&A NEW YORK, NY - May 13, 2024 - Sica | Fletcher releases the Q1 2024 Agency & Broker Buyer Index. Many SF Index Members demonstrated steady increases in Q1 2024 deals compared to Q1 2023, while others have taken a strategic pause.

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Insurance M&A Broker Mergers and Acquisitions 52

Sica Fletcher

JULY 31, 2024

The 2024 insurance M&A market has changed substantially from just a few years ago, with potentially staggering implications for the future of insurance M&A transactions. Insurance M&A Transactions in 2024 The insurance M&A transactions we have observed thus far in 2024 indicate larger trends in the sector.

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M&A Insurance Debt Equities 52

Sica Fletcher

AUGUST 14, 2024

The overall tenure of an investment bank suggests that they have the expertise necessary to thrive in a wide array of M&A markets, as well as a large variance in terms of client needs and deal structures. We recommend looking at three central elements: Years of Experience. Success Rate/Close Rate. Awards & Honors.

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Software Equity Group

MARCH 13, 2023

On the surface, things looked rough: the Dow Jones, S&P 500, and the NASDAQ all finished the year with significant losses, with tech stocks hit particularly hard. While median EV/Revenue multiples declined from 4Q20–1Q22, they still outperformed the median public market multiple, and SaaS M&A deal volume jumped to a new record.

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M&A Private Equity Equities S&P 52

Sica Fletcher

JULY 23, 2024

In it, we provide readers with a quick and simple overview of the current insurance brokerage M&A market , after which we discuss several macroeconomic and industry-specific factors that could drastically affect transactions in the next six months. The market is already highly competitive, but it’s also limited to what buyers can afford.

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M&A Insurance S&P Valuation 52

Sica Fletcher

JUNE 20, 2024

The insurance M&A market in 2024 is significantly more complex now than it was 20 years ago. However, this report seeks to make sense of these qualities as a whole to provide an overview of the 2024 insurance M&A market. The table of contents below offers quick links for readers seeking specific information in later sections.

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M&A Insurance Valuation Equities 52

Sica Fletcher

AUGUST 30, 2023

Q2 Broker Buyer Index Shows a 16% Increase in Deal Volume Over Q1 2023 NEW YORK, NY - August 30, 2023 - Sica | Fletcher releases the Q2 2023 Agency & Broker Buyer Index. The Sica | Fletcher Agency & Broker Buyer Index is the most comprehensive report on insurance brokerage M&A activity in existence.

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M&A Insurance Broker Private Equity 52

Sica Fletcher

MARCH 26, 2024

On average, company leaders in any industry who attempt an M&A transaction using an in-house team average 30% less once the deal is complete. Below, we offer a basic breakdown of the most common advisors in an M&A transaction. The two most common types of M&A buyers are: Strategic. Retirement. Financial Security.

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M&A Insurance Valuation Advisory 52

The Harvard Law School Forum

APRIL 25, 2023

and Paul S. Scrivano, Davis Polk & Wardell LLP, on Tuesday, April 25, 2023 Editor's Note: George Bason is partner and Chair of the Mergers and Acquisitions practice, and Andrew Ditchfield and Paul S. This post is based on a Davis Polk memorandum by Mr. Bason, Mr. Bason, Mr. Ditchfield, Mr. Scrivano, James P.

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Sale Mergers and Acquisitions S&P Private Equity 95

Sica Fletcher

NOVEMBER 9, 2023

Q3 Index Reflects an Emphasis on Strategic Fit for Investors in 2023 NEW YORK, NY – November 8, 2023 - Sica | Fletcher releases the Q3 2023 Agency & Broker Buyer Index. According to the report, SF Index members acquired 402 Agents/Brokers YTD through September 2023, totaling $1.70B in agency and broker revenue.

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Broker M&A Insurance Mergers and Acquisitions 40

The Harvard Law School Forum

MAY 2, 2023

Kushner, FTI Consulting, on Tuesday, May 2, 2023 Editor's Note: Jason Frankl and Brian G. Persistently high inflation, coupled with the fastest Fed tightening cycle seen since 1988, contributed to making 2022 the worst performing year for the S&P 500 Index since 2008, thrashing growth and technology stocks in particular. [1]

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Consulting S&P Economics Government 83

Focus Investment Banking

JULY 2, 2024

This was despite a generally favorable market that pushed the S&P 500 up 3.6% However, the sector still lagged both the S&P 500 and NASDAQ by a wide margin over the past year. The S&P 500 is up 26.3% and the NASDAQ up 4.0%. over this time frame, while the NASDAQ gained 29.4%. revenue and 24.9x

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S&P M&A Acquisitions 52

Sica Fletcher

JUNE 11, 2024

The Insurance Brokerage M&A Market in 2024 On average, insurance brokerages are seeing the highest valuations they’ve had in a decade. Since H1 2023, the average insurance brokerage valuation multiple has hovered around 11.6x Last year's data saw PE firms acting as buyers in ~90% of all transactions.

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Broker Insurance Valuation S&P 52

Sica Fletcher

AUGUST 21, 2024

Sica | Fletcher has been providing M&A advisory services to agencies and brokerages of all sizes for a decade. In that time, we’ve represented thousands of clients and quickly became one of the most active boutique M&A advisory firms in the market today. Do You Need An Insurance Agency Investment Bank?

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Investment Banking Insurance Banking Bank 52

Focus Investment Banking

JULY 16, 2024

This was despite a strong overall market that pushed the S&P 500 up 3.9% However, this performance once again lags the broader indices by a fairly wide margin, as both the S&P 500 and NASDAQ gained more than 20% over the past year. over the past three months. and the NASDAQ up 8.3% in our summer reporting period.

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Business S&P M&A Engineering 52

Sica Fletcher

FEBRUARY 6, 2024

2023 Year-End Index Reflects Continued Emphasis on Strategic Fit for Investors NEW YORK, NY - February 6, 2024 - Sica | Fletcher releases the 2023 Year-End Agency & Broker Buyer Index. According to the report, SF Index members acquired 566 Agents/Brokers in 2023, totaling $2.2B in agency and broker revenue.

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Broker Insurance Mergers and Acquisitions S&P 52

The Harvard Law School Forum

JUNE 27, 2023

Kushner, FTI Consulting, on Tuesday, June 27, 2023 Editor's Note: Jason Frankl and Brian G. 7] A pause may be more beneficial to investors than a direct rate cut would be; the S&P 500 has historically climbed 16.9% Kushner are Senior Managing Directors at FTI Consulting. Strine, Jr. discussed on the Forum here ).

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Financial Institution Banking Bank Consulting 83

Sica Fletcher

MARCH 8, 2024

The inherent uncertainty of the M&A market over the last 18 months has underscored the importance of context for supplementing a full understanding before we can gain a better sense of what to expect in 2024. So, how did we get here? What Is Affecting Insurance Agency EBITDA Multiples?

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Insurance M&A S&P Valuation 52

Focus Investment Banking

OCTOBER 23, 2024

gain in the S&P 500 and the 2.6% gains in the S&P 500 and NASDAQ, respectively. gains in the S&P 500 and NASDAQ, respectively. This means that as of now, 2024 is not looking to be much of an improvement over 2023 in terms of the total number of transactions. This outperformed both the 5.5%

Business 52

Business S&P Engineering M&A 52

Sica Fletcher

APRIL 30, 2024

This article presents a step-by-step guide on how to value an insurance agency - both in the sense of how a valuation agency/M&A advisor goes about valuation, and also in terms of what insurance agency owners can do to maximize their valuation prior to running an M&A deal.

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Insurance Valuation M&A S&P 52

The Deal

JULY 19, 2023

DEN) turned to Stephen M. Cox, Andrew P. Denbury chief administrative officer and general counsel James S. The companies hope to close the deal in the fourth quarter of 2023, pending approvals from regulators and Denbury shareholders. Denbury Inc. Gill, Douglas E. XOM) for $4.9 billion in stock announced July 13.

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Sale Mergers and Acquisitions M&A S&P 52

Sica Fletcher

OCTOBER 23, 2024

RIA valuations are typically performed by one of three parties: The M&A Advisor A Third-Party Specialist The Seller Themselves Although many sellers attempt to perform their own valuations, we strongly recommend against this. We highly recommend that sellers speak with an M&A advisor before taking their company to market.

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Valuation M&A Insurance Advisory 52

Sica Fletcher

JUNE 14, 2024

Insurance agency owners who are considering the prospect of running an M&A deal process often have many concerns about the fate of their agencies, but the most common by far are those surrounding the agency’s purchase price at closing. Some smaller agencies, for example, might get a higher multiple than 6.1x

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Insurance Valuation M&A S&P 52

Focus Investment Banking

APRIL 11, 2024

gain in the S&P 500 and the 9.1% However, this return lagged the year-over-year performance of both the S&P 500 (up 27.9%) and the NASDAQ (up 34.0%). FOCUS is proud of its commitment to the Telecom Business Services sector and we are excited about the prospects for companies in this space. a year ago to 1.2x

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Business Telecommunication Engineering M&A 52

Sica Fletcher

APRIL 11, 2024

Seller 1: The Owners Insurance agency sellers typically have clear motivations and goals going into the M&A deal process. Insurance Agency Seller Motivations Insurance agency owners enter into an M&A arrangement with one of several goals in mind.

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Insurance Advisory M&A Investment Banking 52

Sica Fletcher

MAY 15, 2024

EBITDA: The Standard Insurance M&A Valuation Model EBITDA (Earnings before interest, taxes, depreciation, and amortization) is the standard valuation model within the insurance M&A industry. In addition, third-party M&A institutions like S&P Global Data or Statista can provide more generalized data.

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Insurance M&A S&P Valuation 52

Sica Fletcher

JULY 1, 2024

The Process of Selling an Insurance Brokerage Selling an insurance brokerage essentially consists of six phases and spans between 8-18 months on average: The Phases of Selling an Insurance Brokerage We should note that this process is longer than it used to be; insurance M&A transactions just a few years ago took between 6-12 months on average.

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Insurance M&A Advisory Funds 52

Sica Fletcher

AUGUST 6, 2024

To begin, we need to start with a few definitions: Investment Banks: We use the colloquial meaning of “investment banks,” which often includes M&A advisory firms and other financial services firms that facilitate the growth and sale of insurance agencies around a possible sale.

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Investment Banking Insurance Banking Bank 52

Sica Fletcher

JULY 2, 2024

For agency owners looking to sell their business in 2024, it’s helpful to know something about the insurance M&A buyer landscape before going in. The graphic below illustrates the dramatic differences in activity among the top 25 buyers between 2022 and 2023.

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Insurance M&A Private Equity Advisory 52

Sica Fletcher

SEPTEMBER 12, 2024

We do not provide a detailed overview of the M&A process (readers can find this breakdown in " How To Sell: Insurance Agency M&A, Step-By-Step "), but focus instead on the changes specific to selling a family insurance agency. In particular, sellers should be aware of: Family Reputation as an Asset.

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