‘But perhaps the most important value-add that Opus Connect provides its members is a basis for relationships that result in transactions.’
Deal Connect: A Pre-Filled Dance Card For M&A Professionals
Opus Connect hosts frequent Deal Connect events in various cities throughout the country for M&A professionals. On March 19, 2019, Opus produced an Investment Banker Deal Connect, hosted by Buchalter in Downtown Los Angeles. Over 50 lower middle and middle market M&A senior executives attended the event, which was sponsored by Avant Advisory, Sapient Investigations, USI Insurance, Lawrence Financial Group, GemCap Solutions, First Republic Bank, and CohnReznick. The day began with a panel on how relationships play a significant role in today’s highly competitive market, followed by the Deal Connect portion of the event in which attendees were paired up for multiple one-on-one meetings that were carefully curated by Opus Connect to facilitate meaningful and relevant connections. Matches were mostly between capital providers and investment bankers and were based on criteria such as industry and asset classes. In addition, each individual was pre-qualified by Opus Connect prior to the event.
According to OFS Capital’s Michelle Rogers, the Deal Connect portion of the event is like getting a “pre-filled dance card” of relevant connections. For Carrie DiLauro, “usually our selection of who we are meeting with is pretty well vetted towards what we actually do and the deal we would actually partake in.” Having so many meetings in one afternoon is also an “efficient way of meeting new potential investors,” according to Isaac Palmer, Founder and Managing Partner of Qualia Legacy Advisors. Qualia is a boutique investment bank based in Los Angeles that focuses exclusively on entertainment and media. For Palmer, Deal Connect is a great way of getting on people’s radars who are specifically interested in these industries.
“The unique regional nature of these events” is also attractive to participants, according to Jeff Parent, Vice President of Insight Equity, a middle market majority equity buyout firm based outside of Dallas, Texas. It “enables us to meet people we wouldn’t ordinarily be able to meet.” For Michael Grenier, who was attending his first Deal Connect, the draw was to network and meet relevant contacts face-to-face. Grenier, the sole member of Ballard Canyon Capital, lower middle market- focused investment bank based in Santa Barbara, CA, spoke of the importance of face-to-face meetings like those at a Deal Connect which foster a level of comfort and trust, an invaluable aspect of a transaction.
Attending a Deal Connect is also a great marketing opportunity. For Britt Terrell of Backbone Capital, a capital raising advisor in the lower middle market, a huge value-add from attending Deal Connect events has been the ability to speak on or lead panels. Terrell believes that these opportunities have helped build his brand and increase his firm’s exposure. This could prove especially useful for newer or up-and-coming firms, such as G2 Capital Advisors, a boutique investment bank and restructuring firm. Ben Wright, G2’s COO claimed that Deal Connect events have helped him “get our name out” as well as provided “great marketing and opportunities to go to new geographies.”
But perhaps the most important value-add that Opus Connect provides its members is a basis for relationships that result in transactions. Ben Wright shared that “there is one firm attending today that is currently bidding on one of our assets.” Wright had met this firm at three previous Opus Connect events and was “hopeful that this will lead to a closed deal.” Indeed, several attendees described their successes due to Opus Connect events. Stefan Okhuysen, a Principal at CVF Capital Partners, a lower middle market mezzanine financing and private equity group based in CA said that he’s seen a number of deals come out of Opus Connect events. Okhuysen shared that he was attending this Deal Connect because his firm currently has a $200 million fund that it needs to deploy and was hopeful that the event would help them do that.
On the investment banking side, Cary Hurwitz of West Cape Advisors mentioned a deal that he closed through Opus Connect. Several years ago at another Opus event, he showed Michelle Rogers of OFS Capital a transaction in the transportation logistics space. Rogers referred an asset-based lender for the deal that turned out to be the perfect fit for the company. She introduced Hurwitz to three other people and one of those connections led to a closed deal.
One of the challenges of having such a full dance card is how participants can still stand out and be memorable. We asked some of the participants how they use their “personal brand” to differentiate themselves at Deal Connect events so that they create memorable, lasting relationships. AJ Somers of Arrowmark Partners starts by trying to figure out who he is talking to first, so that her can target it the conversation in a way that it will resonate. “I usually start out by asking people, what would make this day successful for you? I’ll try to figure out what they are actually after, and then I can talk to it.” Michelle Rogers uses a more “personal touch,” asking questions such as where the person went to school or whether they have kids so that when she sends a follow up she can speak to more than just the professional overlap.
Upcoming Deal Connect events are taking place in San Francisco, Denver and Toronto this May. You can find more information about these events as well as many others on our website. Contact us today to sign up or to become a member.