Private Capital Markets: Valuation, Capitalization, and Transfer of Private Business Interests + Website
Private companies, particularly those with annual sales of $5 million to $150 million, have distinct financial needs.  They require a unique capital markets theory to explain and predict the behavior of players in the markets. However, owners and managers of private companies have only had access to corporate finance theories to explain the behavior of their distinctly different capital markets.  They have been left to assume that corporate finance theories would explain and predict actions in their own private markets. Private Capital Markets is the first book to provide private market players with a practical framework for making sound investment and financing decisions based on their real experiences and needs.As an owner or manager of a middle-market business, you can most likely attribute your success to your vision, sharp market knowledge, keen ability to manage operations, and dedication to make success happen.  However, most owners, managers, and their professional advisors lack the resources and knowledge to effectively deal with the complicated issues and interconnections of valuation, capital structure, and transfer . . . until now. Private Capital Markets surveys the private capital markets and provides a structured framework that you can use to navigate through these uncharted waters.Written as a guidebook to making sound financial decisions for every private-market player and their consultants–including lawyers, accountants, bankers, estate planners, and other professionals–this landmark resource covers:Private business valuationMarket valueFair market valueEconomic valueIntangible asset valueBank lendingAsset-based lendingMezzanine capitalPrivate equityBusiness transferEmployee stock ownership plansManagement transfersFamily trustsCo-owner transfersPrivate auctionsGoing public and going private--This text refers to an out of print or unavailable edition of this title.