Middle Market Growth Conversations

This episode is brought to you by RSM US LLP, a leading accounting, tax and advisory firm dedicated to the middle market. It features an extended interview with Anthony DeCandido, a partner in RSM's financial services practice, and Michael Fanelli, a transaction advisory services partner with RSM. Originally broadcast as a video interview on ACG's GrowthTV, the interview addresses the state of M&A in the middle market, including a look at deal activity, industries where deals are happening and valuation trends. Additional topics covered on the podcast include alternative data and where deal-makers are looking for new sources of information; how to analyze business performance in today's environment; and proposals coming out of Washington that would restrict M&A activity. To watch the video interview and access ACG's full video library, visit acg.org/growthtv. To learn more about RSM, visit rsmus.com *** The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit acg.org.

Mitch Cahn, president of Unionwear, a maker of custom branded accessories, spoke with ACG Global CEO Tom Bohn about the new sales strategy that prompted ACG New Jersey to honor Unionwear with a Corporate Growth Award. Unionwear's business, like many others, has changed over the past few months, including a shift to producing personal protective equipment, and Cahn describes how they were able to pivot. Unionwear's products also include baseball hats, backpacks, binders and more, and it manufacturers them all in the United States using union labor, making it attractive to presidential campaigns looking to order swag. At the end of the interview, Mitch hints at whose hats, Biden's or Trump's, are expected to sell fastest and why an election year is good for business. This interview was originally broadcast on ACG's GrowthTV. Watch it at acg.org/growthtv. *** The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.

Tyler Brennan, founder and CEO of RaceDayQuads, spoke with Middle Market Growth about how he started his e-commerce business, which sells components for drones, with a focus on the first-person-view drone racing market. Brennan founded the company five years ago while he was a 21-year-old college student, and he's managed its warehouse in Florida remotely for most of that time. He continues to lead the business, which has grown to 30 employees, even as he serves full time in the U.S. Air Force as a first lieutenant and fighter pilot stationed in North Carolina. Many business leaders have been forced to manage their operations remotely, and Brennan offers advice based on his own experience. He also talks about the impact of COVID-19 on RaceDayQuads' supply chain, and he discusses the regulatory challenges facing the industry. *** The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.

This week's podcast episode features Jane Miller, CEO of Lily's, a maker of sugar-free chocolate. Originally broadcast on ACG's GrowthTV, Miller speaks with ACG CEO Tom Bohn about leading Lily's through the disruption caused by COVID-19 and the support the business has received from its private equity backer, VMG Partners. Although the company is in a strong financial position, Miller says Lily's has had to act quickly to protect the safety of employees. She also describes how her leadership style has changed at a time when everyone is working remotely, and how the company has adapted its digital marketing efforts and messaging in the current environment. Lily's was featured in the March/April cover story of Middle Market Growth magazine, which highlighted VMG and the entrepreneur-led brands it has helped scale, including Spindrift, Justin's, Perfect Snacks and many others. That article is available in the MMG archive: middlemarketgrowth.org/cover-growing-a-healthy-portfolio/. To watch interviews with Jane Miller and many other business leaders, visit acg.org/growthtv.

Terry Graunke, chairman and CEO of Erie Street, an independent advisory firm based in Chicago, spoke with Middle Market Growth last week about how he's leading his firm through the economic disruption caused by the coronavirus outbreak. Graunke launched his first business in college. He has gone on to found 11 startups and has been involved with 43 separate operating businesses over the course of his career as an operator and investor. He describes what he's learned leading companies through past downturns and how he's applying those lessons today—from offering fitness perks to employees to communicating difficult news honestly and transparently. Erie Street recently rebranded from Erie Street Capital and Graunke explains the value creation philosophy behind that change, and how the firm supports businesses through its advisory and consulting services and capital investment. *** The Middle Market Growth Conversations podcast is brought to you by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.

Today's episode is brought to you by RSM US LLP, a provider of audit, tax and consulting services focused on the middle market. It features Kevin Depew, RSM's deputy chief economist and leader of the firm's national industry eminence program. Depew provides an overview of the monetary and fiscal policy response to the coronavirus outbreak, and how it compares to the stimulus package implemented during the financial crisis over a decade ago. He also describes the unique challenges facing midsize businesses and the programs that could help them stay afloat. Ahead of Thursday's jobs report, Depew offers a preview of what we should expect, along with other real-time indicators that he's watching to gauge the economic damage. He likens current events to a natural disaster and makes the case for a rapid recovery for the middle market, once the public health crisis is addressed and businesses can reopen their doors—although when that will happen remains unclear. Middle Market Growth will continue to report on the fallout from the coronavirus and its impact on the economy, so check middlemarketgrowth.org regularly. Meanwhile, ACG and its chapters are also offering content and resources for ACG members. Visit acg.org to see the latest. RSM is also providing information for middle-market business leaders. Check out the Real Economy blog at realeconomy.rsmus.com, where you can subscribe for daily updates. RSM will also be increasing the frequency of its Middle Market Business Index to monthly for the next several months, and it has built a COVID-19 resource center with insights for midsize businesses. All of that is available at rsmus.com

After the ACG Chicago Middle Market Manufacturing Conference, Middle Market Growth sat down with Craig Smith, an enterprise executive with Plex Systems, to talk about cloud-based systems, leveraging data and the skills gap facing midsize manufacturers today. In this episode, Smith describes how Plex’s solutions can help manufacturers cope with supply chain disruptions, something that’s especially relevant today because of the coronavirus outbreak, which has had a major impact on manufacturing and global supply chains. Find more content about trends facing midsize businesses and deal-makers at middlemarketgrowth.org.

During the ACG Chicago Middle Market Manufacturing Conference, Middle Market Growth sat down with Jon Walker, business development manager at EOS North America, a provider of 3D printing solutions that include systems, software, materials and services. Walker explains how 3D printing and additive manufacturing differ from traditional manufacturing techniques, and how they can be used in applications ranging from aerospace and automotive to medical devices. The U.S. is the No. 1 market for industrial-grade 3D printers, and according to Walker, additive manufacturing is the “great equalizer” for American companies in the face of international competition. He also describes how the technology is evolving with respect to applications and materials, and he points to areas of opportunity for additive manufacturing in the future.

Jennifer Fondrevay, founder and chief humanity officer of Day1 Ready, describes her research into why so many mergers and acquisitions fail, and how acquirers and investors can address workforce considerations earlier in the M&A process. Fondrevay has interviewed a number of C-level leaders, HR professionals and PE investors, and she's written on the topic for Harvard Business Review. In late 2019, Fondrevay published her book, "NOW WHAT?: A Survivor's Guide for Thriving Through Mergers & Acquisitions," currently available for order on Amazon. https://www.amazon.com/NOW-WHAT-Survivors-Thriving-Acquisitions-ebook/dp/B07ZQ7SXDP This episode was first broadcast in August 2018. Learn more about Fondrevay and her research at https://jenniferjfondrevay.com/.

This week's episode features Chris Voss, the FBI's former lead international hostage negotiator and CEO of The Black Swan Group, which advises Fortune 500 companies on performing complex negotiations. Voss addressed the key elements that all negotiations share, from a middle-market M&A transaction to a high-stakes hostage crisis. He also suggested strategies for setting up a negotiation for success, red flags to watch for, and the best way to relay bad news. Plus, he shared real-world anecdotes from his time in the FBI. To learn more about the topic, pick up Voss' book, “Never Split the Difference: Negotiating as if Your Life Depended on It,” or subscribe to The Black Swan Group's newsletter, "The Negotiation Edge," at blog.blackswanltd.com/the-edge. This episode was originally released on Dec. 18, 2018.