Bundy Group Insights

Welcome to Bundy Group Insights, the podcast that takes you behind the scenes of the latest developments in mergers and acquisitions, capital raises, economic, business, and industry-specific trends. Our goal is to provide you with an understanding of the strategies that drive business value creation in today’s dynamic M&A market. Each episode is packed with expert opinions, in-depth analysis, and insightful conversations. Brought to you by Bundy Group, a premier investment bank and advisory firm for privately owned businesses, we're committed to providing exclusive, sector-specific content that empowers your business decisions.

Beyond Valuation: Why the Balance Sheet Can Make or Break an M&A Transaction 06/10/2025

Tariffs, Tensions & the Multipolar World: A Geopolitical Deep Dive with Alex & Eugene Chausovsky 04/15/2025

Tariffs, Tensions & the Multipolar World: A Geopolitical Deep Dive with Alex & Eugene Chausovsky In this thought-provoking episode of Bundy Group Insights, Alex Chausovsky is joined by geopolitical analyst Eugene Chausovsky, Senior Director at the Newlines Institute. The conversation unpacks the rapidly shifting geopolitical landscape and its direct impact on the global economy, business operations, and international alliances. From the emergence of a multipolar world to the strategic use of tariffs and trade wars, Eugene shares forward-looking insights rooted in rigorous geopolitical forecasting. Listeners will gain a deeper understanding of today’s most critical global hotspots—Russia/Ukraine, the Middle East, and the Indo-Pacific—and the varying paths these conflicts may take in 2025. With clear, objective commentary, Eugene explains how businesses can anticipate risks, respond to global volatility, and make informed decisions by leveraging geopolitical simulations and scenario planning. Episode Highlights The U.S. administration's use of tariffs as a geopolitical tool—and its wide-reaching consequences for allies and adversaries alike. Why diplomatic de-escalation may be the most likely path for Russia-Ukraine, despite hybrid threats and economic tensions. The Middle East as a current flashpoint with potential for U.S.-Iran military confrontation and ongoing disruption to global shipping. China's strategic advantage in critical mineral supplies and how it may respond to escalating trade tensions in the Indo-Pacific. The value of scenario-based simulations for businesses navigating uncertainty in global markets. Key Takeaways The world has transitioned from a unipolar to a multipolar power structure, where emerging regional powers and non-state actors increasingly shape global outcomes. Geopolitical forecasting can be a strategic asset for businesses, especially when preparing for trade disruptions, military escalations, or shifts in energy and supply chains. Learn more about the Bundy Group by visiting . /episode/index/show/f9fd0319-5e15-466f-bdba-e811b650c1b7/id/36118905

Fire Protection M&A: John Corliss Shares His Journey to a Successful Exit 02/25/2025

Fire Protection M&A: John Corliss Shares His Journey to a Successful Exit In this episode of Bundy Group Insights, host Jim Mullens sits down with John Corliss, a seasoned industry expert in fire protection, to discuss his journey of acquiring, growing, and ultimately selling Roanoke Sprinkler. John shares his background, his entrepreneurial approach to business growth, and how he strategically positioned his company for a successful exit. He highlights the importance of building scalable operations, establishing strong financial processes, and timing the market right for a sale. The conversation also covers the role of investment banking in maximizing company value during a sale. John explains why he chose Bundy Group as his exclusive advisor, the competitive bidding process that led to multiple offers, and his decision to roll equity post-sale. The episode provides valuable takeaways for business owners considering a future transaction, emphasizing strategic growth, operational excellence, and selecting the right partners for long-term success. Key Takeaways: Building for Exit: Always operate your business as if you’re preparing for a future sale, even if you don’t plan to exit soon. Investment Banking Matters: Working with an industry-focused investment bank ensures maximized valuation and deal success. Competitive Sale Process: Having multiple buyers at the table strengthens negotiation power and ensures the best terms. Scalability & Recurring Revenue: Establishing strong operational processes and increasing recurring revenue enhances long-term business value. Trust in Transactions: The right buyer should align not just with financial goals, but also with company culture and vision. Listeners tuning into this episode of Bundy Group Insights can expect an in-depth look at John Corliss’s entrepreneurial journey, from acquiring Roanoke Sprinkler to strategically scaling it for a successful exit. John shares firsthand insights on what makes a business attractive to buyers, the importance of scalable operations and strong financials, and how focusing on recurring revenue can enhance long-term value. He also discusses his decision to work with Bundy Group, providing a behind-the-scenes look at the competitive sale process and the factors that led him to roll equity post-sale. Whether you're a business owner considering a future transaction or simply interested in the M&A landscape within the fire protection industry, this episode offers valuable lessons on growth, exit strategies, and maximizing company value. Learn more about the Bundy Group by visiting . /episode/index/show/f9fd0319-5e15-466f-bdba-e811b650c1b7/id/35415510

2024 in Review, 2025 in Focus 01/21/2025

2024 in Review, 2025 in Focus Clint Bundy, Managing Director, kicks off season two of Bundy Group Insights by diving into the current economic and mergers & acquisitions (M&A) landscape, offering a thorough analysis of 2024 and expectations for 2025. Joined by Alex Chausovsky, Director of Analytics and Consulting, and Stewart Carlin, Managing Director, the conversation provides expert insights into economic trends and their impact on the M&A market. Alex highlights key economic trends from 2024, focusing on the resilience of the U.S. consumer and evolving labor market dynamics, as well as their impact on companies across numerous industries. Stewart provides a comprehensive analysis of M&A activity over the past decade, covering the exuberance of 2021, the market's adjustment in 2022-2023, and signs of measured recovery in 2024. Together, all three advisors examine how these trends influence privately-held companies and their strategies for success in the year ahead. Key Takeaways: Economic Resilience in 2024: GDP growth of 2.5-3.0%, robust consumer spending, and labor market stability balanced by recent challenges in industrial and manufacturing sectors. Strategic Insights for 2025: Business leaders and executives are encouraged to incorporate macro-level risks, such as policy changes and inflation, into their scenario planning, while also focusing on operational priorities like cost management and employee retention. M&A Market Outlook: While corporate buyers continue to drive activity, financial sponsors are regaining their appetite for acquisitions and divesting of portfolio companies, setting the stage for a growth in M&A activity in 2025. Industry-Specific Trends: Healthcare: Strong interest in behavioral health and aesthetics continues to grow, fueled by the consolidation-oriented nature of these markets. Technology: Automation and controls see significant growth, driven by increasing demand for efficiency and productivity solutions. Business Services: Opportunities are expanding in fire safety, AI-related infrastructure, and home services. Bundy Group Update Active Client Pipeline: Heading into 2025, Bundy Group is engaged in business sale opportunities across our three core verticals. In addition, we have specific subsectors we are highly active in today. Based on the firm’s pipeline, as well as the market tailwinds, we anticipate a strong company performance in 2025. Sector: Technology-Enabled Services Subsectors Automation and control system integration Technology Services Sector: Healthcare Services Subsectors Dermatology & Aesthetics Behavioral Healthcare Healthcare Technology Sector: Business Services Subsectors: Fire, Security & Safety Value-Added Engineering Services Market Dynamics: Buyers are eager for opportunities but are highly diligent in their assessments and decision-making. Competitive processes are critical to achieving top value for sellers. Bundy Group’s 2025 Initiatives: Expanding the team with new talent on both the origination and client services fronts. Participating in numerous industry conferences—watch for updates on LinkedIn and email announcements. Welcoming conversations with business owners to share insights, discuss business sales, or explore capital raise opportunities! Learn more about the Bundy Group by visiting . /episode/index/show/f9fd0319-5e15-466f-bdba-e811b650c1b7/id/34931920

Season 1 Conclusion: Gratitude, Highlights, and What's Next for Bundy Group Insights 12/23/2024

Strategies for Success in Fire Protection M&A with John Mackey 12/10/2024

Strategies for Success in Fire Protection M&A with John Mackey In this episode of Bundy Group Insights, Jim Mullens, Managing Director at Bundy Group, interviews John Mackey, founder of The Mackey Group, to discuss the evolving trends, challenges, and opportunities within the fire protection industry. With nearly two decades of experience, Mackey is a trusted authority in fire protection, strategic growth, and advising companies on enhancing operational performance and achieving long-term success. The conversation delves into the ongoing consolidation in the fire, security, and safety sectors, focusing on the influence of private equity firms, strategic buyers, and contractors in shaping the market. Mackey shares actionable insights for listeners, particularly business owners, emphasizing the importance of preparing for potential sales by cleaning up financials, optimizing service revenues, and evaluating technology stacks to maximize value. Mackey and Mullens also highlight the significance of identifying the right buyer fit through a competitive process and developing strategic plans to ensure smooth transitions amidst a highly active acquisition market. Additionally, Mackey addresses key external factors impacting the industry, such as labor shortages, fluctuating interest rates, and potential political shifts involving tariffs and immigration policies. Despite these challenges, Mackey expresses optimism about the industry's resilience, driven by a steady flow of investment capital and ongoing growth opportunities. Key Takeaways: Ongoing Consolidation: The fire protection industry continues to consolidate, with private equity firms and strategic buyers driving acquisitions across sectors like fire sprinklers, fire alarm, and security. Market Resilience: Despite minor dips in deal volume, strong financial metrics and continued investment underscore the industry’s overall health and growth potential. Sophisticated Private Equity Influence: Large private equity firms such as KKR and Blackstone are increasingly active in the space, building aggressive portfolios and setting new industry standards. Preparation for Sale: Business owners should focus on cleaning up financials, enhancing service revenue, optimizing operations, and building solid growth strategies before considering a sale. A part of that preparation includes planning for a competitive sale process. Labor Challenges: Skilled labor shortages remain a significant challenge, requiring innovative solutions to address workforce gaps and maintain industry growth. Election Impact: Political and economic factors, like tariffs and interest rate changes, may create supply chain challenges but also open opportunities for strategic adjustments. Strategic Fit Matters: Beyond the purchase price, business owners should carefully evaluate buyer fit, including cultural alignment, legacy management, and post-sale roles for leadership. Learn more about the Bundy Group by visiting . /episode/index/show/f9fd0319-5e15-466f-bdba-e811b650c1b7/id/34357275

Specialization in Investment Banking: Why It Matters for a Business Seller 11/26/2024

Specialization in Investment Banking: Why It Matters for a Business Seller In this episode of Bundy Group Insights, Clint Bundy and Stewart Carlin, both managing directors of Bundy Group, explore the critical distinctions between generalists and specialists in the investment banking and mergers and acquisitions (M&A) advisory professions. Drawing from their extensive experience, they delve into why specialization in specific industries is key to optimizing outcomes for business owners and executives during transactions. Clint and Stewart share compelling case studies and practical advice for navigating the complexities of the investment banking landscape, emphasizing the value of expertise and industry-focused strategies. Listeners will gain a deeper understanding of how a specialized investment banker can leverage proprietary knowledge, buyer networks and relationships, and industry insights to maximize value and secure the best fit for their clients. The episode also offers actionable tips for business owners evaluating potential advisors, highlighting what to look for in a true industry specialist versus a generalist approach. Key Takeaways: Generalists vs. Specialists: Generalists often lack deep industry knowledge and focus on casting a wide net, while specialists bring targeted expertise and nuanced understanding to transactions. Specialization Benefits: Industry specialists provide proprietary knowledge, buyer rolodexes, and insight into valuation drivers, ensuring a competitive edge in the market. Evaluating Advisors: Business owners should assess an advisor's track record, ask industry-specific questions, and request referrals from past clients to verify expertise. Buyer Relationships: Specialists maintain strong connections with buyers, fostering trust and ensuring competitive offers due to ongoing collaboration. In addition, buyers will pay more for businesses represented by an investment banking advisor that they respect…and hope to see more deals from in the future! Tailored Approach: Specialists excel at crafting detailed, high-quality materials and positioning strategies to meet buyer expectations and mitigate risks. Thought Leadership: Investment banks with industry expertise contribute to publications, attend trade shows, and build recognition as leaders, which adds credibility to their processes. Long-Term Results: Building a specialized focus over time results in deeper insights, better transaction outcomes, and stronger client relationships. Client Case Studies: BCPS: Learn about this behavioral health transaction, which highlights Bundy Group's ability to navigate regulatory nuances and maximize valuation for a niche healthcare services business. Ultimation: This leading automation solutions firm chose Bundy Group for its unparalleled expertise in the industry. Learn about the process and how Bundy Group’s industry expertise resulted in a highly successful sale. his episode is packed with practical insights for business owners preparing for a sale or capital event. Tune in to learn why choosing the right investment banker can make all the difference! Learn more about the Bundy Group by visiting https://bundygroup.com. /episode/index/show/f9fd0319-5e15-466f-bdba-e811b650c1b7/id/34141091

Discussion with Bundy Group Director Drew Thomas: A Career Spanning Family Business, Private Equity, and M&A Advisory 11/12/2024

Discussion with Bundy Group Director Drew Thomas: A Career Spanning Family Business, Private Equity, and M&A Advisory In this episode of Bundy Group Insights, Clint Bundy sits down with Bundy Group Director Drew Thomas, a seasoned professional with extensive M&A experience in the healthcare, technology, and business service sectors. Drew shares his unique career journey—from his start in the family-owned foodservice equipment and supplies business, which he later sold to a strategic buyer, to a leadership role with a healthcare-focused private equity group, and eventually to advising in mergers and acquisitions. Listeners get a glimpse into Drew’s entrepreneurial spirit, fostered by early hands-on experience and later refined through his work with private equity-backed organizations and service organizations in healthcare, dermatology, aesthetics and technology. Together, Clint and Drew explore the value of industry expertise, a competitive sale process, strategic relationships, and the importance of due diligence in successful acquisitions. Drew delves into value-maximizing strategies, sharing lessons from his own M&A experiences and his role as a private equity buyer for physician practices and healthcare groups. His insights highlight the importance of preparation and timing in practice sales, as well as the critical need for a competitive process when selling a business. He also explains how his career convinced him of the value an investment banker provides to business owners and why his background uniquely positions him to serve sellers in an advisory capacity. Key Takeaways: Drew Thomas shares his impressive career journey, spanning from growing and selling his family’s restaurant equipment business to founding a healthcare technology company and serving in a leadership role with a private equity group. His early exposure to business operations and strategic decision making shaped his entrepreneurial approach and deepened his understanding of business owner client needs. Drew emphasizes the importance of understanding the buyer options in a sale process and preparing for due diligence before buyer conversations even begin. Private equity interest in aesthetics practices, including med spas and cosmetic dermatology, has grown significantly, which is increasing the value of practices in those sectors. Drew advises business owners to explore multiple buyer options to optimize outcomes in practice sales and to carefully assess unsolicited offers, understanding the long-term risks they may pose—a perspective he gained from his own post-transaction experience in his family business. Drawing from personal experience, Drew emphasizes that business owners seeking to maximize their business's value can greatly benefit from having an investment banking advisor involved in the sale process. Drew’s experience as both a buyer and advisor offers valuable insights into the M&A process from multiple perspectives for the benefit of the BG Insights’ audience. Learn more about the Bundy Group by visiting https://bundygroup.com. /episode/index/show/f9fd0319-5e15-466f-bdba-e811b650c1b7/id/33889957

What Is A Consortium Sale? Insights, Strategies & Key Takeaways 10/29/2024

What Is A Consortium Sale? Insights, Strategies & Key Takeaways In this episode of Bundy Group Insights, Clint Bundy, managing director, is joined by Stewart Carlin, managing director at Bundy Group, to discuss the unique concept of a consortium sale. While the term may not immediately resonate with many, the structure itself can provide incredible opportunities for business owners. The hosts explain how this strategy involves combining two or more companies into a single sale process to maximize valuation for the sellers. Drawing on a successful consortium deal, led by the Bundy Group team, Clint and Stewart delve into the complexities and benefits of such an approach. Key Takeaways: Consortium Sale Overview: A consortium sale involves presenting multiple companies (usually within the same industry) as a packaged acquisition opportunity for a buyer. For the sellers, this playbook can create enhanced value and options. Value Enhancement: The goal is to increase seller value in a competitive sale process by highlighting to buyers the combined synergies and growth potential of these companies together. Because a consortium delivers to buyers a larger, more profitable platform, the valuation paid to the consortium owners should be significantly higher versus if they sold their businesses independently. Private Equity Reversal: The traditional private equity strategy approach is to buy a platform company and then complete add-on acquisitions at lower transaction multiples, which creates an arbitrage for a buyer’s benefit. In a consortium sale, all owners unite to drive for a shared, higher transaction multiple. In short, it is a value arbitrage for the seller’s benefit. Strategic Alignment is Key: For a consortium sale to succeed, the companies involved must have defensible combination benefits and not be competitive to one another. Additionally, clear communication and complementary goals among all owner participants are crucial for the success of the deal. Bundy Group’s Role: Acting as the manager of the process, Bundy Group guides the complexities of a consortium sale, ensuring that the preparation, presentation, and execution are seamless for the business owners. Learn more by visiting . /episode/index/show/f9fd0319-5e15-466f-bdba-e811b650c1b7/id/33616032

The Automation Market: Analysis and Actionable Insights from Industry Expert, Tim Dawson 10/15/2024

Celebrating Bundy Group’s 35th Anniversary: A Conversation with Founder, Bill Bundy (Part 2) 10/01/2024

Celebrating Bundy Group’s 35th Anniversary: A Conversation with Founder, Bill Bundy (Part 1) 09/17/2024

Celebrating Bundy Group’s 35th Anniversary: A Conversation with Founder, Bill Bundy (Part 1) In this episode of Bundy Group Insights, Clint Bundy celebrates the 35th anniversary of Bundy Group by kicking off a two-part interview with Bundy Group Founder, Bill Bundy. They discuss the firm’s origins, starting in Roanoke, Virginia in 1989, when Bill made the transition from consulting to entrepreneurship. Bill recounts his early years building the company, overcoming challenges such as limited capital and the difficulties of hiring commission-only brokers. He also reflects on how his family’s background influenced his entrepreneurial spirit in business. As the conversation progresses, Bill and Clint explore the evolution of Bundy Group from a business brokerage model focused on small, local deals to an investment banking firm with industry specialization. They emphasize the importance of client service, persistence, and learning from past experiences, all of which contributed to the firm’s long-term success. Key Takeaways: Bundy Group was founded in 1989 in Roanoke, VA by Bill Bundy, inspired by his entrepreneurial family. Early challenges included limited capital, finding commission-only brokers, and securing small deals. The first deal closed by Bundy Group was a $5,000 commission from selling a division of a printing company. Over time, the firm transitioned from a business brokerage model to an investment banking model with a focus on specialization. Client service, persistence, and capital adequacy were critical factors in the company’s success and evolution. Bill Bundy stresses the importance of advising clients on the best timing for taking their business to market for optimal outcomes. Be sure to tune back in on Tuesday, October 1st, for part 2 of Clint's conversation with his dad, and Bundy Group Founder, Bill Bundy. Learn more about the Bundy Group by visiting . /episode/index/show/f9fd0319-5e15-466f-bdba-e811b650c1b7/id/33083342

Economic Insights and M&A Market Update: What Lies Ahead 09/03/2024

Economic Insights and M&A Market Update: What Lies Ahead In this insightful episode of BG Insights, Clint Bundy sits down with Alex Chausovsky, Bundy Group’s Director of Analytics and Consulting, to delve into the current state of the global and U.S. economy. Alex provides valuable guidance for business owners and executives looking to navigate the complexities of today’s economic landscape and build lasting value in their firms. As the conversation unfolds, they explore the potential impacts of the upcoming U.S. election, the evolving M&A market, and strategic considerations for the year ahead. Key Takeaways: Economic Outlook for Late 2024 and Early 2025: Alex provides an analysis of the macroeconomic environment, discussing key indicators such as job reports, GDP growth, and consumer activity that suggest a stable yet cautious economic trajectory. Impact of the Upcoming U.S. Election: The discussion covers how the 2024 presidential election could influence economic policy, interest rates, and business conditions, with a focus on potential scenarios and their implications for business owners. M&A Market Trends: Alex and Clint offer insights into the current state of the M&A market, highlighting how changing interest rates and economic conditions are affecting deal flow, and what business owners should consider when contemplating a sale or acquisition. Strategic Planning for Business Owners: Practical advice is given on how business leaders can prepare for the uncertainties of 2024, including the importance of scenario planning, maintaining profitability, and being proactive in response to potential policy changes. Global Comparisons and Strategic Insights: Alex discusses the U.S. economy in comparison to Europe and China, emphasizing why the U.S. remains a strong environment for business growth and value creation. Join us as we unpack these critical topics and provide actionable insights for business owners and executives. Whether you're navigating the complexities of an election year or considering your next strategic move, this episode is packed with information to help you stay ahead in 2024 and beyond. Learn more about the Bundy Group by visiting . /episode/index/show/f9fd0319-5e15-466f-bdba-e811b650c1b7/id/32853632