mergers and acquisitions can impact all of the above \u2013 and vice versa.<\/li>\n<\/ul>\nand when private equity cash flows in, everything changes and interacts.<\/p>\n
as marc rosenberg, of rosenberg associates, says in the observations section of the survey report, \u201cone thing that pe transactions have made abundantly clear, and something i\u2019ve been saying for 20 years: cpa firms are worth way more than the piddly one times fees (or less) that have typified cpa sales for decades.\u201d<\/p>\n
pe firms may be looking only at the traditional metrics of value, but their money\u2019s still green, and their injection of investment funds is making m&a more difficult for accounting firms looking to acquire what they lack.<\/p>\n
terry putney, of whitman transition advisors, offers a detailed comment in the survey:<\/p>\n
\u201cmany traditional firms that have historically relied on m&a as a significant growth strategy have resigned themselves to the fact that they will have difficulty competing with pe on many acquisition opportunities. whereas there are about a dozen well-known pe firms that have acquired and are operating accounting firms, there are two to three times that many seeking to enter the market. i think it\u2019s fair to characterize the current market as a feeding frenzy within pe.\u201d<\/p>\n
so some pe firms may be diving into a feeding frenzy with a weak awareness of all the variables that are fomenting turmoil in the accounting industry.<\/p>\n
jennifer wilson, at convergencecoaching, says, \u201ci fear that pe firms are overpaying for their equity stakes (and driving firm prices up for acquirers) and that realization will begin to dawn on some of them who realize there might not be a flip in sight.\u201d<\/p>\n
in other words, to some extent pe is adding even more turmoil to the ongoing turmoil, more mud to the muddy waters of valuation. but that doesn\u2019t mean that anybody\u2019s eschewing the frenzy. by all accounts, private equity\u2019s here to stay, and more\u2019s on the way.<\/p>\n","protected":false},"excerpt":{"rendered":"
the m&a picture has changed.<\/strong> \n <\/a> \nby 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n","protected":false},"author":17,"featured_media":133314,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[5,3002],"tags":[],"class_list":["post-133279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-outlook","category-special"],"acf":[],"yoast_head":"\nwhat\u2019s your firm worth? private equity wants to know - 卡塔尔世界杯常规比赛时间<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n