CUSTOM CONTENTN OV E M B E R 20, 2023

L E A D E R S

O F

I N F L U E N C E :Investment Bankers

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ELCOME TO THE 2023 INSTALLMENT OF OUR ANNUAL SPOTLIGHT ON SOME OF THE BEST AND MOST SUCCESSFUL

investment bankers in the region. In these pages, you’ll find profiles describing many of the genuine
leading lights in a profession that has become more important than ever – and a snapshot of what makes
them great.
These are the experts that really get our great ideas and concepts on the right track. The best of them will wear
multiple hats… providing incredibly valuable guidance and advice while helping their clients raise money in thecapital markets.
The right investment banker does more than provide an infusion of cash for your business. He or she – andthe institution they represent – can genuinely prepare your organization (with the right resources, capital andguidance) for the next level of growth and beyond.
Congratulations to the trailblazing professionals who made this list and thank you for your contributions to the
local business community’s success.

Methodology: The professionals featured in these pages did not pay to be included. Their profiles were drawn from nominationmaterials submitted to the Los Angeles Business Journal. Those selected for inclusion were reviewed by the editorial department. The
professionals were chosen based on a demonstration of impact made on the profession and on the Los Angeles community.

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26 LOS ANGELES BUSINESS JOURNAL – CUSTOM CONTENTNOVEMBER 20, 2023

LEADERS OF INFLUENCE: INVESTMENT BANKERSTRACY ALBERTPAUL ALTMAN

Vice Chairman
Palm Tree LLC

Tracy Albert is vice chairman of investment banking at Palm Tree, leadingclient coverage and business development initiatives to support Palm Tree’s
growth. Albert is recognized as one of thepreeminent investment bankers on the West
Coast, having advised hundreds of middle
market companies and entrepreneurs overa span of several decades. Prior to joining
Palm Tree, Albert was vice chairman at JD
Merit and Company, where he was responsible for planning and strategic directionof the firm, including directing JD Merit’s
expansion into several key industry verticals, and advising middle market companies
and entrepreneurs across a broad array of
industries and specialties.
Albert has developed a vast network ofbusiness contacts and close personal relationships across a broad array of industries andspecialties. His vast business network was built
meticulously over a span of several decades
and now provides a consistent flow of uniqueadvisory and transaction opportunities.

P

aul Altman is a managing director andpartner at The Sage Group, and is basedin the firm’s Los Angeles headquarters.
He has worked in consumer mergers andacquisitions for nearly 30 years, and has
been with the firm since its inception in
2000. Altman advises private and publiccompanies, as well as private equity firms
and their portfolio companies, with enterprise values up to billions of dollars.
Altman focuses his practice on helping
entrepreneurs and business owners find theideal partner and home for the premium
brand that they’ve built. In addition to
maximizing the options for what they own,
Altman, with his colleagues at Sage, views
his role as a coach, cheerleader, strategist,
creative thinker and problem solver. An
M&A process is filled with ups and downs,
and Altman, through a uniquely bespoke
approach, guides clients through this oncein-a-lifetime experience.

DAVID BARNES

D

025-31_LOI-InvestBanks.indd 26

Chris Ball is responsible for developing
and executing sell-side mergers andacquisitions at CriticalPoint. He has
led outright sales and recapitalizations ofcompanies in niche manufacturing, businessservices, transportation/logistics and medical
device manufacturing while at the firm. Ballbrings over 25 years of investment banking,business management and product development experience to assist entrepreneurs withmaximizing the value of their companies.
Prior to joining CriticalPoint, Ball was a
director with Brockett Tamny & Co., Inc.,a boutique investment bank that focuses on
sell-side mergers and acquisitions and raising
capital for companies across a wide variety
of industries. Before joining Brockett Tamny& Co., he successfully executed numerous
transactions with Janas Associates, also aboutique investment bank, for clients that
included medical device manufacturers,
service providers, petroleum distributors
and technology companies. Prior to Janas,
he was the founder of Strategic Initiatives,
Inc., a financial and general management
consulting firm.

S

Principal
CenterPoint M&A Advisors, Inc.

C

hris Bandouveris has advised businessbuyers and sellers in smaller middle-market merger and acquisition transactions
since 1992. His sole focus has been helping
smaller middle-market entrepreneurs. Bandouveris has completed 165 M&A transactions in 35 states around the US and Canada. Prior to co-founding CenterPoint in
2003, Bandouveris was president of a smaller
middle-market investment bank, where hemanaged M&A transactions for over 10
years. He assisted one buy-side client incompleting 41 acquisitions throughout
the US.
Bandouveris has completed M&A transactions in multiple industries including
roofing products, food production, industrial
manufacturing, business services, medical
devices, silicon wafer production, cosmetics,
consumer products and construction equipment rental. Bandouveris is registered with
FINRA as a general securities principal andholds Series 7, 24, 63 and 79 licenses. Bandouveris is also a 20-year member of ProVisors and has served as group leader of theSherman Oaks 2 group for the past 10 years.

KEVIN BERSON

Principal
CenterPoint M&A Advisors, Inc.

cott Berejikian has 27 years of M&A
experience and has completed transactions in 35 states and Canada. He is aprincipal at CenterPoint M&A Advisors, a
middle-market investment bank focused on
representing buyers and sellers of privately
held businesses. The firm’s merger & acquisition transactions range from $10 – $100
million in value.
Berejikian works with sell-side clients
who are typically entrepreneurs who arepreparing for retirement, business owners
taking advantage of favorable M&A market
conditions or investors and entrepreneurs
who have other interests and ideas that theywould like to pursue. He has also worked
with strategic buyers who want to grow theircompany by making multiple acquisitions.
He has assisted buyers in acquiring over 65
companies. He works closely with the buying company to set their acquisition criteria,
contact potential sellers, collect information, negotiate letters of intent, assist in due
diligence and close the transactions.

CHRIS BANDOUVERISManaging Director, Investment Banking
CriticalPointSCOTT BEREJIKIANManaging Director; Head of M&A
Palm Tree LLC

avid M.V. Barnes is managing director
and head of M&A at Palm Tree LLC.
Barnes has well over 30 years of investment banking, private equity and corporate
development experience, having closed over
350 M&A transactions with a combined
enterprise value in excess of $10 billion.
Barnes was previously head of corporate
development at Lumio, where he created,built and financed the fourth-largest photovoltaic solar sales & installation company inthe country. At Lumio, Barnes interviewed
the owners of over 100 of the top solar companies in the country, ultimately combining
five of them into Lumio. Barnes helped
recruit senior management, assisted in
the integration of the five companies, andengaged his former firm, Houlihan Lokey, toprovide the acquisition financing necessary
to purchase all five PV solar companies.
Houlihan Lokey`s Capital Markets teamsucceeded in raising $110 million of acquisition capital in a transaction that closed in
Q4 2021.

CHRIS BALLManaging Director
The Sage GroupDAVID BONROUHI

Mergers and Acquisitions Advisor
Kinected AdvisorsKevin Berson is an experienced M&A
advisor with Kinected Advisors, helping
business owners of lower-middle market
firms ($5 million to $50 million in revenue) sell their businesses for optimal value
and terms. Berson has 25 years’ experience
across M&A Advisory, business development and Big Six consulting roles.
Over the past year, Berson completed
successful M&A transactions for an IT
managed services provider, which sold toa strategic buyer and a health care services
firm which sold to a reputable private
equity firm. For both deals, Berson helped
structure controlled-auction processes that
resulted in clients achieving valuations that
far exceeded sellers’ expectations. Berson’sclients say that he does an exemplary job of
preparing the businesses for sale, often getting involved several years before the client
is ready to sell, to advise on actions that canbe taken to ultimately increase valuation
and reduce perceived risks.

Managing Director
Calabasas CapitalD

avid Bonrouhi has been in investmentbanking and private equity for over 25
years and he brings bulge bracket WallStreet experience to the lower middle market. He and his team at Calabasas Capital (adba of FINRA-registered Fallbrook Capital)
focus on representing family businesses andemerging growth companies with $10 –$100 million in revenue in sell side M&Atransactions, private equity and debt capitalraising and buyside M&A. Bonrouhi isknown for executing complex transactions
for small and mid-sized companies andnegotiating on their behalf with highlysophisticated private equity firms and large
public companies.
Bonrouhi has completed deals in a variety of industries including food, aerospace &defense, software, business services, consumer products and industrial manufacturing,
including the sales of Bandwagon Brokerageto Wholesale Produce Supply, Berkley
Molded Fiber to International Paper, Invotech to HID Global, UFP Technologies’
Molded Fiber Business to CKF and others.

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CUSTOM CONTENT – LOS ANGELES BUSINESS JOURNAL 27

NOVEMBER 20, 2023

LEADERS OF INFLUENCE: INVESTMENT BANKERSDIANE CABO

ALEXANDER CAPPELLOManaging Director
CriticalPoint

Chairman & CEO
Cappello Global, LLC

D

C

iane Cabo is a managing director at
CriticalPoint, a firm that uniquely
combines the best of both investmentbanking and private capital service offerings. Since joining the investment banking
team in 2016, Cabo has advised owners
on mergers and acquisitions, and debt andequity raises, with a specific focus on originating and executing merger and acquisitiontransactions.
Cabo’s highly skilled level of execution
and ability to close complex transactions
are highly regarded by clients across apparel,
consumer goods, building products, healthcare services and manufacturing. Cabo
combines her ability to deliver results witha deep commitment to building trusted
relationships with business owners, buildingon her more than seventeen years of investment banking experience advising clients at
WestPark Capital and Greif & Co. Cabo has
also been an active member of the Association for Corporate Growth Los Angeles fornearly 17 years participating in many eventsand conferences.

appello Global was founded over 50
years ago by Alexander Cappello and it
is one of the oldest and most respectedindependent investment banks in existence,with its principals completing over $160
billion in transactions in more than 60
countries.
Cappello is a long-time board director,
former lead director and current chairmanof the compensation committee of Cheesecake Factory, former lead director of Virco
Manufacturing and has served on three bankboards. Cappello is one of only two twoterm international chairmen of the Young
Presidents’ Organization (YPO) and is anactive member of the YPO Gold LA chapter
and Chief Executive Officers’ Organization.
He was also a founding charter member andchairman of the Santa Monica Bay and Bel
Air Chapters and a co-founder of the Malibu, Portugal, Russia and Beijing chapters. In
2006 YPO honored him by naming one ofits highest honors the Alexander L. Cappello Annual Award.

SHERRY CEFALICHRIS CHELEKISManaging Director
Duff & Phelps Opinions Practice of Kroll, LLC

Sherry Cefali is a managing director in
the Duff & Phelps Opinions Practiceof Kroll, LLC. She is also a memberof the firm’s Fairness & Solvency Opinion
Senior Review Committee and the Engagement Acceptance Committee. Cefali has
been with Duff & Phelps for over 30 years,
advising companies and boards, rendering
fairness opinions and solvency opinions anddetermining valuations of companies andsecurities. In addition, Cefali is director on
the board of RF Industries, chairs its Compensation Committee and the Nominations& Governance committee.
Cefali’s recent transactions include afairness opinion in connection with theacquisition of Grindr by Tiga Acquisition
Corp. in a de-SPAC transaction; a fairness
opinion to the special committee of theboard of Ecovyst in connection with a share
repurchase transaction; and a fairness opinion to certain funds affiliated with Blackstone in connection with recapitalizationtransaction of Phoenix Tower International.

Vice President
William and Henry AssociatesChris Chelekis led the William and Henry
team representing Unisorb Installation
Technologies, a designer/manufacturer ofhighly engineered products that are mission
critical for the optimum performance anduseful life of machinery installation systems,in the sale to Argosy Capital Group. Chelekis has approximately 10 years of investmentbanking experience, focusing on sale-side
M&A and special situations providing solutions to investors ranging in size from family
operated offices to middle market company
transactions.
Previously, Chelekis led the William andHenry team in representing Affordable Water
Heaters & Plumbing, a leading in-homeprovider of water heater replacement, repair
and installation services, including ancillary plumbing services, in the sale to Dubin
Clark as well as the successful sale of Enrollment123 Inc. in the sale to Housatonic Partners. He and his team have completed deals
in food & restaurants, aerospace & defense,
software, business services, consumer products and industrial manufacturing.

Congratulations on being Recognized as 2023 Leaders of Influence Investment
Bankers by the Los Angeles Business Journal
Brian Little, CFAManaging Director
Consumer Investment Banking+1 310 598 4358
brian.little@kroll.com

Karan Kapoor

Managing Director
Technology Investment Banking+1 424 249 1676
karan.kapoor@kroll.com

Sherry Cefali

Managing Director
Transaction Opinions+1 424 249 1660
sheryl.cefali@kroll.com

Kroll measures, protects, restores and maximizes shareholder value. Our Corporate Finance practice is a leading provider
of M&A advisory, debt advisory, strategic alternatives, financial due diligence, and independent transaction opinions.

Select Recent Transactions
Consumer M&A

Technology M&A

Transaction Opinions

SELL SIDE M&A ADVISORSELL SIDE M&A ADVISORSELL SIDE M&A ADVISORSELL SIDE M&A ADVISOR

received an investment fromhas been acquired byhas received a majority
investment fromhas been acquired by

October 2023

July 2022025-31_LOI-InvestBanks.indd 27

FAIRNESS OPINIONSOLVENCY OPINION

has completed the roll-up of
17 retail and other properties
in India related to an initialpublic offering of

has completed the spin-off of

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28 LOS ANGELES BUSINESS JOURNAL – CUSTOM CONTENTNOVEMBER 20, 2023

LEADERS OF INFLUENCE: INVESTMENT BANKERSNICK CIPITIANDREW DUNST

Director
CriticalPoint

Managing Director, E-Commerce
The Sage Group

ick Cipiti is responsible for sourcing andexecuting M&A and capital raise transactions at CriticalPoint. He has extensive experience advising owners and investors of middle-market companies on mergers
and acquisitions, and private placements
across various industries and geographies.
Prior to CriticalPoint, Cipiti worked at
DH Capital, a New York-based investmentbank with industry expertise in internet
infrastructure, telecommunications, and
SaaS sectors. With DH Capital, Cipiti
advised on more than $10 billion in transactions including sell-side and buy-side M&A,
capital raises, and restructuring deals for avariety of private equity, public company,
and entrepreneurial clients both domestically and internationally. Cipiti also evaluatedpotential investment targets and underwrote
investment cases for the firm’s private capital placement practice. Prior to DH Capital,
Cipiti spent three years at Deloitte & Touche, LLP where he worked with a variety
of clients in the health plan and financial
services industries.

ndrew Dunst is involved in leading theSage Group’s e-commerce practice, withextensive experience advising disruptive
DTC brands across various verticals, suchas footwear, jewelry, apparel, beauty & personal care, home goods, marketplaces, andsubscription models. Dunst has advised a
broad range of branded consumer companies, with significant experience in strategic
M&A, capital raises and late-stage financing
rounds, and private equity recapitalizations.
Dunst is a dynamic and energetic banker
that has become a trusted advisor and leader
in the e-commerce vertical. Having closed
dozens of transactions, Dunst has developed
a reputation for his deep expertise, strong
relationships with global strategics andfinancial investors, tenacity and enthusiasm. He has guided best-in-class companies
through a variety of corporate financematters, assisting stakeholders in achieving
their goals and positioning their companies
for their next stages of rapid growth and is afrequent expert speaker in the e-commerce
space.

KARAN KAPOORBRIAN LITTLENManaging Director;
Co-Head of Tech Investment Banking
Kroll

K

aran Kapoor is a managing director andco-head of Kroll’s Tech Investment
Banking team (Pagemill Partners). In
his current role, Kapoor directly manages
a team of tech sector focused investmentbankers based out of the firm’s Los Angeles
office and is co-head of Kroll’s global tech
investment banking team (Pagemill).
Kapoor is a seasoned investment banker
who previously worked at UBS, one of thelargest global investment banks, and Stifel,
a leading full-service middle market investment bank. Over the course of his career,
Kapoor has advised both growth stage private companies and established private andpublic technology companies across diverse
transaction types including M&A, IPOs,
and private financings but since 2019 his
primary focus has been M&A advisory for
middle-market software businesses. Over the
past four years, he has built up a thriving
mid-market tech M&A practice based out
of Los Angeles.

025-31_LOI-InvestBanks.indd 28

A

LLOYD GREIFI

n 1997, Lloyd Greif founded the Lloyd
Greif Center for Entrepreneurial Studies
at USC’s Marshall School of Business. The
Greif Center is consistently ranked among
the top five entrepreneurial studies centersin the world. Greif is past chair of the Business Tax Advisory Committee appointed by
Mayor Eric Garcetti and the Los Angeles
City Council, the Board of Directors of
the Los Angeles Economic Development
Corporation (LAEDC) and the Los Angeles
Police Foundation.
Greif holds degrees in Economics (BA–
UCLA), Entrepreneurship (MBA–USC,
Beta Gamma Sigma), and Law (JD–Loyola
Law School, Order of the Coif). He washonored to serve an unprecedented two
years in a row as commencement speakerfor UCLA’s Department of Economics
graduating classes of 2019 and 2020, consonant with the occasion of the University’s
Centennial celebration. A frequent public
speaker, he is an internationally recognizedauthority in the field of mergers & acquisitions and corporate finance.

B

President
William & Henry AssociatesD

avid Iannini has over 30 years of investment banking/financial experience. He
has held senior positions at Salomon
Brothers in New York and Los Angeles andSchroder Wertheim. Iannini has executedover 200 transactions for both large capitalization public companies such as Avon
Products, Xerox, Eastman Kodak, Toys R
Us, Hilton Hotels, Dial Corp., Viad Corporation and Textron as well as for small andmedium-size entrepreneurial and private
businesses.
In terms of mergers and acquisitions,
Iannini has worked on both domestic andcross-border transactions including the $3
billion sale/restructuring of Security PacificAsia Bank Ltd. for Bank of America, the$350 million sale of Avon’s Apparel Fashion
Division, Textron’s $2 billion acquisitionof Cessna, the $2 billion spin-off of Hilton
Hotels gaming operations, the $780 million
sale of Dobbs Foodservice to Swiss Airlines
and the sale of the $1 billion Petrie stake inToys R Us; among many others.

ROBERT MAGGIACOMOManaging Director
Krollrian Little is a managing director in theConsumer M&A advisory practice for
Kroll and is based in the Los Angeles
office. Little has over 22 years of experienceadvising middle-market clients on mergers
and acquisitions and private placements ofdebt and equity. He has closed numerous
transactions across the broader consumer
landscape, including apparel, e-commerce,
specialty retail, sporting goods, food &beverage and restaurant sectors. Prior tojoining Kroll, Little served as a managing
director at Imperial Capital where he led
the firm’s Apparel practice. He has also held
senior positions at US Bank, Union Bankand FocalPoint Partners.
Little is also a chartered financial analyst as well as a FINRA-registered generalsecurities principal and possesses Series 7,
24, 63 and 79 licenses. He is a frequent
lecturer on topics such as valuation and corporate finance and is an adjunct professor of
finance and business economics at USC.

DAVID IANNINI

Owner
Greif and Company

PATRICE McNICOLLManaging Partner
Synergy Advisors LLC

B

ob Maggiacomo founded Synergy Advisors to provide high quality investmentbanking advisory services for transactions and companies underserved by thelarge investment banks. He leads a teamof similarly experienced professionals at
Synergy Advisors, which primarily focuseson sell side M&A and strategic partnering
advice for entrepreneurial businesses, private equity backed companies and corporate
divestitures.
Maggiacomo has had an extensive careerin investment banking and merchant banking, spanning over three decades, having led
groups at major Wall Street firms. He has
managed or otherwise been meaningfully
involved in over $15 billion of merger transactions and financings, primarily for companies in various segments of the healthcare
and life sciences industries. Outside theoffice, he has been involved in various
church charitable activities, a volunteer at
his children’s schools, and has mentored
young students with an interest in investment banking, finance and/or healthcare.

Senior Managing Director;
Co-Head of Investment Banking
B. RileyP

atrice McNicoll is the co-head of investment banking at B. Riley Securities.
Prior to joining B. Riley, McNicoll
created and served as chief executive officer of MLV & Co., a boutique investmentbank which he sold to FBR in 2015. He waspreviously a managing director at Cantor
Fitzgerald & Co. in New York where heplayed a key role in originating revenues
and building the firm’s investment banking
practice. McNicoll structured and executedvarious capital market transactions for corporate clients across a number of industry
including renewable and traditional energy,
tech, healthcare, finance and shipping.
Over the course of his career, McNicoll
has served on multiple private, public andnon-profit company boards and continues
to be active as a board member and advisor.
He currently serves as an executive member
for the MAPLE Business Council which
promotes investment, trade and entrepreneurship between the United States andCanada.

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CUSTOM CONTENT – LOS ANGELES BUSINESS JOURNAL 29

NOVEMBER 20, 2023

LEADERS OF INFLUENCE: INVESTMENT BANKERS

JON MERRIMAN

BRADY MONEY

Senior Managing Director; Chief Business Officer
B. RileyJ

on Merriman serves as chief businessofficer for B. Riley Financial, as well as
Senior Managing Director, Investment
Banking with B. Riley Securities, the firm’s
investment banking arm. In these dual roles,
Merriman works closely with public andprivate corporations across multiple industry
groups, private equity investors, law firms
and IR firms to leverage the firm’s resources
to create solutions and drive revenue.
Merriman specializes in advising highgrowth public and private companies oncomplex financing, capital markets related
and operational issues. With over 35 yearsof experience in the investment banking,brokerage and trading businesses, he has
deep experience in corporate turnarounds,
debt and equity transactions and helping
companies grow across a broad variety ofindustries, including the healthcare, technology and consumer sectors. He also has
experience in managing fast growing organizations, having spearheaded MerrimanHoldings from zero to $100+ million inrevenues in less than five years.

Brady Money began his career as ananalyst with Greif & Co. and has beensteadily promoted through the ranks
to managing director where he has been
involved with dozens of entrepreneurial
clients. Money works with clients on bothmerger & acquisition transactions and capital raising as well as new deal origination.
His experience at Greif & Co. involves awide array of industries including manufacturing, aerospace & defense, consumer products & retail, and business services.
Money brings nearly 17 years of diversified financial experience in the areas offinancial services and middle-market investment banking. He has, and continues to be,
intimately involved in all aspects of investment banking deals, from due diligence,
positioning, marketing and negotiating themost value-enhancing transactions for his
clients. One of his recent transactions was
the sale of Lugano Diamonds & Jewelry, Inc.
to Compass Diversified, a publicly-tradedprivate equity firm.

THE INVESTMENT BANK TO PREMIUM
CONSUMER BRANDS AND DIGITALLY
NATIVE COMPANIES

has completed arecapitalization with

JOEL MONTMINYManaging Director
Greif & Co.

has completed arecapitalization withhas completed arecapitalization withNISHEN RADIA

CEOMontminy & Co.

Senior Managing Director; Co-Head of M&A
B. RileyJ

oel Montminy, the founder and driving
force behind Montminy & Co., is adistinguished figure in the field of investment banking. With over 25 years of leadership experience in mergers and acquisitions,
he has earned recognition as an industry
leader. Recently, he furthered Montminy &Co.’s reputation by adding sector and service
talent, leading the firm in 2022 to a record
year.
Montminy’s professional impact issubstantial, focused largely on Southern
California but extending across borders. He
has an impressive track record of over $6
billion in middle-market transactions to his
credit. Additionally, he has skillfully executed cross-border transactions totaling morethan $2.5 billion, spanning 30 countries. In
2022, Montminy expanded Montminy &Co’s service capabilities and sector expertiseby adding dedicated capital markets, sponsor
coverage and sports advisory teams. He isperhaps best known for representing privately held, family-owned companies in a saletransaction.

Nishen Radia is senior managing director and co-head of M&A at B. Riley
Securities, a leading middle market
investment bank. He has over 27 years ofexperience advising middle-market companies on mergers and acquisitions, debt
and equity recapitalizations and financial
restructurings. His clients include multi-billion-dollar private equity funds and familybusiness owners.
At B. Riley, Radia has driven outstanding outcomes for his clients by combining
his bulge bracket experience with tenacityand dealmaking creativity. Prior to joining
B. Riley through its acquisition of the firm
he co-founded, FocalPoint Partners, Radia
previously worked in investment banking at
Merrill Lynch, SocGen and Baring Brothersin London, New York and Hong Kong. Overthe course of his finance and managerial
career, Radia has served on multiple private,public and non-profit company boards andcontinues to be active as a board member
and advisor.

TRANSACTIONS.
TRANSITIONS.
TRANSFORMATIONS.
Palm Tree is the modern M&A advisor. We integrated
investment banking and ﬁnancial consulting services to cultivateeﬃciencies, drive business evolution, and create value.
We enable businesses to better prepare for, respond to, andexecute on strategic events such as transactions, transitions,and transformations.

was acquired by

was acquired by

was acquired by

LOS ANGELES\\\CHICAGO\\\DETROIT\\\DALLAS+1 (310) 636-2050
www.palmtreellc.com
Member: FINRA / SIPC

Los Angeles— New York — London — Paris

Copyright ©2023 Palm Tree LLC. All rights reserved.
Securities products and services are oﬀered through Palm Tree Securities LLC. Member FINRA, SIPC.

310.478.7899 www.sagellc.com

025-31_LOI-InvestBanks.indd 29

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30 LOS ANGELES BUSINESS JOURNAL – CUSTOM CONTENTNOVEMBER 20, 2023

LEADERS OF INFLUENCE: INVESTMENT BANKERS

ARTIN SEDIGHAN

AARON SOLGANICK

rtin Sedighan has been an investmentbanker since 2004 and has focused on
both buy-side and sell-side mergers &acquisitions, capital markets, leveraged
finance and restructuring transactions forsmall-to-large-cap public and private companies. Sedighan has advised clients in a
broad array of industries including businessservices, consumer products, education,
food & beverage, industrials, financial institutions, financial technology, healthcare,lifestyle & fitness, media, specialty retail,technology and real estate.
Sedighan joined Cappello in 2011 as avice president and has since been promoted
up the ranks through the managing director
and was selected to lead the firm’s origination and execution activities as president
at the end of 2019. Under Sedighan’s leadership, Cappello Global has secured andclosed several significant client mandates,
including Snow Valley LLC, a Southern
California ski resort operation, on its sale to
Alterra Mountain Company.

aron Solganick is a high energy andexperienced technology investmentbanker with an entrepreneurial spirit.
He launched the investment bank Solganick & Co. in 2009 to focus exclusively oncompleting mergers and acquisitions of software and technology services companies.
Solganick’s notable recent M&A transactions completed include: Atos acquisitionof Visual BI, Wipfli’s acquisition of Waypoint, Fort Point Capital’s acquisition ofStrata Information Group, Data Storage
Corporation’s acquisition of Flagship Solutions, The Silicon Partners acquisition ofiXerv Americas, DAS Health’s acquisitionof Itentive Healthcare Solutions and Iteligen Healthcare, Stackpath’s acquisition of
MaxCDN, GP Strategies acquisition of HulaPartners, Stefanini’s acquisition of CXI,Contax’s acquisition of Aptelis and Onshore
Partners, Business and Decision’s acquisitionof Inforte (completed at previous firm),
and Alerion Capital Group’s acquisition of
Navigator Business Solutions. He previously
served as senior vice president, investmentbanking at B. Riley Securities.

President & Managing Director
Cappello Global, LLC

A

BRITT TERRELL

ANDREW D. WILLIAMSON

ritt Terrell is a managing director andhead of the Palm Tree Capital Markets
service line, which helps clients navigate
corporate finance, leveraged acquisitions
and corporate debt restructuring. Terrell isa tenured middle-market corporate financeprofessional with more than 30 years offinancing experience. He has been underwriting, structuring, closing and managing
credit portfolios since the 90s, with a focus
on middle-market leveraged acquisitions
and corporate debt restructuring for overtwo decades.
Terrell was the founder of Backbone
Capital Advisors, a capital markets financing advisory boutique specialized in private
debt and equity capital raises for buyouts
and recapitalizations. After 12 years of leading Backbone Capital, the firm was acquired
by Palm Tree in early 2023 and Terrell wasnamed to lead its capital markets service
line. Prior to founding Backbone Capital, he
was head of Capital Markets at The GoresGroup.

ndrew Williamson has over 17 years ofinvestment banking and private equity
experience in addition to CFO andrelated operating management roles in portfolio company investments. At Calabasas
Capital (a dba of FINRA-registered Fallbrook Capital), Williamson specializes ingrowth capital transactions including mergers, acquisitions, divestitures and leveraged
recapitalizations in information technology,
software and aerospace and defense.
Prior operating roles for Williamson haveincluded senior manager at Oracle Corporation after it acquired private equity-backed
Treasury Services Corporation; CFO of
the Merex Group, including Kellstrom
Defense, a private equity-backed aerospaceand defense company where he completed
multiple acquisitions; and CFO and generalmanager of private equity-backed DM Natural Products, acquired by Bradford. Recently completed transactions include the saleof Applied Photon Technology to Amglo;
the sale of Invotech Systems to HID Global;
and the sale of UFP Technologies’ Molded
Fiber Business to CKF.

CEO and Founder
Solganick & Co.

A

Managing Director; Head of Capital Markets
Palm Tree LLC

B

Managing Director
Calabasas CapitalA

New Trends in Fintech Growth for 2024
T
‘Consumers are looking for new

he fintech industry is growing rapidly, and it
is expected to continue to grow in the years
to come. In 2024, the global fintech market
is projected to reach $324 billion. This growthis being driven by a number of factors, including
the increasing adoption of digital payments,
the rise of mobile banking, and the growing
demand for financial services by underserved
populations.
There are a number of lessons that can belearned from the recent years of fintech growth.
One lesson is that there is a strong demand forinnovative financial services. Consumers arelooking for new and convenient ways to manage
their money, and fintech companies are meeting this demand with innovative products andservices. One lesson is to prevent fintech operations from causing loss of savings and to watch
out for mismanagement by fintech managers.
Another lesson is that fintech companies
need to be customer-centric. In order to succeed, fintech companies need to focus on providing products and services that meet the needsof their customers. This means understanding
the needs of their target market and designing
products and services that meet those needs.
Finally, fintech companies need to be regulated to avoid problems. The financial services
industry is heavily regulated, and fintech companies need to be aware of the regulations that
apply to them. Failure to comply with regulations can have serious consequences for fintech
companies.
The future of fintech is bright. The industry
is growing rapidly, and there is a strong demandfor innovative financial services. However, fin-025-31_LOI-InvestBanks.indd 30

and convenient ways to manage
their money, and fintech companies
are meeting this demand with
innovative products and services.’

tech companies need to be customer-centric andregulated in order to succeed.
Here are some of the key trends that are
expected to shape the fintech industry in 2024:
THE RISE OF OPEN BANKING
Open banking is the practice of sharing
financial data between banks and third-party
companies. This allows third-party companies
to develop new financial services that are more
personalized and convenient for consumers.
THE GROWTH OF MOBILE PAYMENTS
Mobile payments are becoming increasingly
popular, as consumers are looking for moreconvenient ways to pay for goods and services.
Fintech companies are developing new mobile
payment solutions that are more secure anduser-friendly.
THE GROWTH OF
ARTIFICIAL INTELLIGENCE (AI)AI is being used by fintech companies toimprove a variety of financial services, such as
fraud detection, customer service, and investment management. AI is expected to play aneven greater role in the fintech industry in theyears to come.
THE GROWTH OF REGTECH
Regtech is the use of technology to help
financial institutions comply with regulations.
Fintech companies are developing regtech
solutions that help financial institutions toautomate compliance processes and reduce therisk of regulatory violations.
The fintech industry is a rapidly growing
and evolving industry. The industry is expected
to continue to grow in the years to come, as
new technologies and innovations are developed. Fintech companies that are able to adapt
to the changing landscape and meet the needsof consumers will be well-positioned for success.
Information for this article was provided by
EIN Presswire.

11/16/23 4:09 PM

BRANDED CONTENT – LOS ANGELES BUSINESS JOURNAL 31

NOVEMBER 20, 2023

LEADERS OF INFLUENCE: INVESTMENT BANKERS

M&A Set to Pick Up in 2024
Despite Ongoing Headwinds‘We’re relatively optimistic aboutO
the outlook for 2024, as deal
ver the past year, M&A dealmakers haveconfronted their most prolonged challenges
since the 2008–2009 financial crisis. Risinginterest rates, geopolitical tensions, and recession fears contributed to a sustained downturnin deal activity that bottomed out in the firstquarter of 2023.
Since that low point, however, more dealmakers have returned to the negotiation table
and M&A activity appears to be stabilizing. Thisbodes well for a pickup in dealmaking in the
coming months, despite macroeconomic, geopolitical and regulatory headwinds, according to
the 20th edition of BCG’s Global M&A Report.
“We’re relatively optimistic about the outlook for 2024, as deal activity shows promising
signs of recovery,” said Jens Kengelbach, BCG’s
global head of M&A and a coauthor of thereport. “That said, challenges for dealmakers
remain—in particular, a higher cost of capital,
which will push companies to consider large ortransformational deals with an even higher levelof scrutiny. This could mean pursuing acquisitions, divestitures, and sometimes a combination of the two in order to bolster growth andreshape businesses.”
M&A MARKET STUMBLED IN 2023
After the M&A frenzy in 2021 and early
2022, dealmaking was subdued during the latter
half of last year and the first eight months of2023. Through the end of August 2023, compa-

nies had announced approximately 21,500 deals
year-to-date, with a total value of $1.18 trillion.
Deal volume fell by 14% compared with thesame period in 2022, and deal value plummeted
by a staggering 41%.
The persistent slowdown in M&A activity
since the first half of 2022 was evident acrossregions. Markets such as India, Taiwan, Italy,
and Romania showed slightly more resilience,
while the US, Canada, France and Germany took a harder hit. The energy, power, andresource industries were the most active sectors
globally in 2022.
Bold corporate dealmakers, particularly thosein strong financial positions, capitalized on theuncertain situation by seeking bargains or pursuing M&A discussions that were not possible twoyears ago. At the same time, most companies
continued to use M&A to pursue their strategic initiatives, particularly in ESG (including
energy transition, decarbonization, the circular
economy and social impact) and digitization (togain access to AI and other emerging technologies and to enhance capabilities and talent).
Some financial investors have continued tomake deals when intriguing opportunities arise.
In some instances, they have used alternative
deal and financing structures, such as partneringwith strategic investors or increasing their equity contribution—even to the extent of financing the entire deal with equity, at least initially.
Middle Eastern and other sovereign wealthactivity shows promising signsof recovery.’funds—and the companies they back—havealso stayed active. Flush with capital and liquidity, they are investing across regions, sectors, andthemes. They have adopted diverse, long-term
strategies to diversify into areas other than natural resources and to support the growth of theirnational economies.
DRIVERS OF M&A ACTIVITY IN 2024
Owing to current geopolitical uncertainties,
the outlook for the M&A market in 2024 ishard to predict. Nevertheless, the fundamental
drivers of M&A activity remain intact. The
report identifies four key near-term drivers ofdealmaking activity:• Abundant Dry Powder: In the near term,
major support for dealmaking will come fromthe abundance of available capital held by sovereign wealth funds, private equity and venture
capital investors, and some large companies.
• Converging Price Expectations: Disparities between sellers› and buyers› pricing
expectations have impeded dealmaking over the

past year. However, many factors that influence
prices—such as inflation level, financing costs,
and uncertainty—are stabilizing. As sellers gradually accept this new normal over the next few
months, we expect the gap between sellers› andbuyers› expectations to narrow.
• Evolving Regulations and Policies:
Increasingly, regulation and policy changes are
influencing M&A activity. Traditional antitrust
regulations often complicate larger deals, especially for major technology companies. Dealmakers must also overcome hurdles related toforeign direct investment regulations, national
security considerations, and sanctions. On theother hand, deals worked out under antitrust
scrutiny often spur divestitures as remedies tocounter these concerns.
• The Pursuit of Resilience: Efforts tobolster supply chain resilience, such as throughnear-shoring, friend-shoring, and other regionalization strategies, may indirectly influence
M&A, as dealmaking can facilitate these goals.
In addition, companies will continue using
M&A to pursue their ESG and digitization
agendas. Some companies will concentrate ontransformational deals, whether by making acquisitions in growth areas or by reshaping their corporate portfolios through M&A and divestitures.
Information for this article was provided by Boston
Consulting Group. Learn more at bcg.com.

NOMINATE TODAY!
The Los Angeles Business Journal
is proud to host the2024 Diversity, Equity + Inclusion
Symposium and Awards Program.
We will honor diversity, inclusion, and equity champions
in the Los Angeles region for their ongoing efforts toadvance diversity and inclusion in the workplace andbusiness leadership while simultaneously creating an
inclusive environment that enables
diversity and equity to thrive.

NOMINATION DEADLINEFRIDAY, JANUARY 19
To nominate an individual
or an organization, please visit

labusinessjournal.com/events/dei2024

025-31_LOI-InvestBanks.indd 31

11/16/23 10:28 AM