Tully & Holland Newsletter

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Transactions

A selection of recently completed transactions by Tully & Holland, Inc.
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Mergers

Tully & Holland works on behalf of the seller to evaluate, recommend, structure and close the transaction. more info >>

Aquisitions

On behalf of the buyer, Tully & Holland conducts searches, negotiates and structures the transaction and follows through to closing. more info >>

Private Placements

Tully & Holland is licensed to assist clients in raising equity and debt for expansion, acquisitions or recapitalizations.
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Valuations

Tully & Holland provides valuation services to current and prospective clients. more info >>
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Tully & Holland Website > T & H Publications

Tully & Holland Publications

Special Industry Report: Retail Imagery, Graphics and Signage

May 9, 2008

Consolidation within the Retail Imagery, Graphics and Signage sector, which is highly fractionated and competitive, is likely to accelerate in the years ahead.

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Wholesalers Under Siege

April 15, 2008

According to the US Census, there are over 8,000 giftware, collectible, tableware and home décor accessory importers, wholesalers and distributors in the US. For years, these firms scoured the world and brought low-, mid- and high-end tzotchkes, knick-knacks, and stuff to the US market. Today, these companies are under siege by the trends of globalization, disintermediation, increasing retail competition and the weakening dollar. Though the number of establishments was relatively constant from 1997 to 2002, the latest year where figures are available, there is little doubt a consolidation is occurring as firms are being sold and liquidated. The days of a marketplace full of small importers and wholesalers are waning, to be replaced by a directory of larger, more sophisticated designers, and retailers importing directly.

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2007 Food Industry M&A Review:

April 15, 2008

Merger & acquisition activity in the US food & beverage industry continued at a strong pace in 2007, driven by three major trends: strong consumer demand for food & beverage products that promote health & wellness, sharply-rising raw material prices, and private equity investors’ heightened focus on CPG companies. As all three factors continue to influence the sector, expect further consolidation in many sectors of the food & beverage industry in 2008.

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Changing Times for Direct Marketers

December 11, 2007

The past ten years have been a period of transition among the top 100 direct mail catalogers

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Preparing Your Company for Sale

October 2, 2007

Selling your company is generally a once in a lifetime event fraught with emotion and filled with risk. Both money and a lifetime of work are at stake, therefore the considerations before and during a sale are vitally important. The process is important, and mistakes can cost a great deal, so one should proceed methodically.

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Relevant Sayings for Sellers of Companies

October 2, 2007

As an investment banker for middle market companies, my job is to do three things: 1. Sell businesses for owners who wish to exit or have a “liquidity event;” 2. Assist companies or private equity groups buy businesses; 3. Raise capital, either equity or debt, for growing companies. My experience, and the many years of investment banking experience of my colleagues, has taught us a few things about the deal business. Some of the lessons have been hard, some profitable, but all well learned.

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Virtual Inventory Increases Enterprise Value

July 12, 2006

Just-in-time deliveries and Internet connectivity has developed in such a way over the past ten years that many direct marketing businesses base their business model and success on virtual inventories. What do I mean by “virtual inventory”? Essentially, virtual inventory is drop shipping merchandise orders directly from vendors’ stock rather than the more traditional stocking merchandise in anticipation of demand. While there are exceptions, a company with virtual inventory should have the ability to achieve faster growth, better focus, and higher valuations than more traditional “stock and ship” companies. Let us briefly discuss the risks and benefits of both models.

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The Challenge Facing Multi-Channel Marketers in an Inflationary Environment

June 1, 2006

In the last few months, the effects of increasing inflation are evident…increasing oil prices, upward wage pressures, higher interest rates, and the rising Yuan. So what is the impact of expanding inflation on multi-channel marketers?

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Catalog Age: Improved Momentum in the Third Quarter

February 1, 2004

Based on third-quarter results from the publicly traded companies tracked, consumer catalogers had reason to be optimistic about holiday sales. Eighty-one percent of the marketers tracked for Catalog Age by investment bank Tully & Holland reported improved third-quarter sales.

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Tully & Holland, Inc. Financial Report for Catalog Age - 4th Quarter 2003

January 1, 2004

James Adams, Managing Director at Wellesley Hills, MA-based Tully & Holland, Inc. reports that the Financial Report for Catalog Age reflecting 4th Quarter revenue and net income.

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Boston Business Journal: Q&A: Making private-firm M&As a successful venture

May 21, 1999

While mergers among giant public corporations capture headlines, small to medium-sized private companies are not immune to this phenomenon. It is easier to sell and finance mega-mergers like Chrysler Daimler-Benz and Amoco and British Petroleum, but what about selling mid-market companies? How do you sell your private business? How do you finance an acquisition? There are a number of issues that must be carefully examined by potential buyers and sellers before they even enter the market.

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Thinking About Selling Your Food Company?

May 21, 1999

The best time to sell your company is when its prospects are good. A buyer will pay more for a company that is well positioned for future earnings growth.

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