This fall marks the launch of Smart Business Dealmakers, a new digital newsletter that takes readers inside the world of business mergers and acquisitions.
Each week, we’ll talk to leaders who recently completed a deal and learn the details of how it happened and what it means for their business. We’ll also check in with influential Cleveland business leaders who are often involved in M&A activity and tap into their expertise on how these deals get done.
Additionally, there will be a video component to each newsletter, providing a more direct channel into the minds of these dealmakers and how they approach their craft. Finally, each newsletter will include a story from off the beaten path about a person or organization who approaches life from a unique perspective.
This newsletter, which will come out on Sunday mornings, is a nod to the important role that dealmaking continues to play in the advancement of our region. The tide has turned from the malaise that followed the Great Recession and the economy is growing once again.
The market is flush with capital and private equity firms are paying big multiples. New construction and development is taking place both downtown and across Northeast Ohio. Local real estate professionals are getting calls from investors across the country who are asking questions and looking at the Cleveland market for potential expansion opportunities.
The bottom line is there are deals out there to be made. It’s up to business owners to identify the right move for their company and then develop a strategy to make it happen. You have to be ready to spring into action at any moment when you get a chance to strengthen your business.
It’s undeniable that one of the factors in Cleveland’s economic comeback is the willingness of the region’s business leaders to step out and take risks by making big business deals.
This includes people like Doug Price, who led K&D Management LLC to purchase the Terminal Tower and breathe new life into this Cleveland landmark. It’s Bill Priemer, who as president and CEO at Hyland, guided his already very successful business to an acquisition that adds more than 700 employees, 17 global office locations and new breadth to its service offerings.
The momentum was built by people like Cleveland Indians owner Paul Dolan, who has transformed the Tribe and led the ballclub to a record-breaking 2017 season at Progressive Field, and Cavaliers owner Dan Gilbert, who was willing to spend whatever it took to end the city’s championship drought in 2016.
And then there is David Gilbert, who as president and CEO of Destination Cleveland, helped the city land the 2016 Republican National Convention.
There are deals you plan for and there are deals that come at you in unexpected ways. When you are ready for either scenario, you give yourself a chance to do something great. We look forward to sharing these stories with you in the Dealmakers newsletter. ●
Fred Koury is president and CEO at Smart Business Network