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Corporate growth, business development and those who bring them to life. This is ACG Atlanta. MONTHLY NEWSLETTER Vol. 2 • Issue 7 • April 2009 The President’s Letter Dear ACG Atlanta members: We welcome our international consulates and visitors to celebrate the growth of our international mergers and acquisitions community and those members of M&A International in our blockbuster April event, “Growing Opportunities in a Shrinking World.” As Atlanta’s infrastructure has strengthened to support international Photo growth opportunities, both in foreign investment and in expanding domestic operations overseas, we are finding that more ACG members are conducting international business. ACG Atlanta embraces change in the global economy and current issues. Next month, during the May 5 Academy Breakfast, we will explore embracing sustainability and our leadership constituencies to make each of our organizations grow and prosper in this changing world. We are proud to announce that the ACG Atlanta Board has approved our forward looking strategic plan. Our mission: to provide high quality content and networking opportunities for current and prospective members. Our guiding principles: the three C’s of providing high quality and relevant Content, building Connections, and enhancing our Community. Our strategic plan is flexible to change with the economic times but also provides consistency Calendar of Events ................. 2 as our ACG Atlanta leadership changes. We are now soliciting nominations for the Board. Board of Directors .................. 2 Also during this time, each of us has an opportunity to renew our commitment to the ACG community by selecting committees on which to serve. So, raise your hand and get involved. New Members ......................... 2 In considering nominations, the Board Nominating Committee, chaired by Wayne Bradley, will Letter from the Editor ............. 3 present next year’s proposed slate of officers to the members in May. Young ACG .............................. 4 With the objectives of strengthening our Chapter and attracting more corporate members, Golf Tournament ..................... 4 we have expanded our content to attract future ACG members and leaders, ranging from: Maria Saporta’s Column ........ 5 1) high school students involved with Junior Achievement of Georgia’s Fellows Program; 2) Announcements ..................... 6 local business school students in this year’s ACG Cup pilot program; 3) professionals 35 and younger with this year’s launch of Young ACG; and 4) the international business community. Member Profile........................ 7 Congratulations to Emory University’s “Team Madoff,” which won the CityWide ACG Cup ACG Cup News ....................... 9 Competition, held on April 4, 2009. ACG Intergrowth ................... 10 The membership committee is evaluating ways to involve more corporate members, increase Thought Leadership ..............11 member satisfaction, and help you deepen your business connections. We strive to operate Programs Update.................. 12 with transparency through newsletters, announcements, and solicitations of input from our ACG Sponsors ...................... 12 members. Let us know how these program initiatives are complementing your business and corporate growth needs in the annual survey, to be distributed to all members in May, and if you have a good idea, please reach out and let us know. Editor Recognizing that communication is an art, our very own Vice President of Communications, Quinn Hudson founder and partner of the Hudson|Crane Corporate Communications gives us useful advice 678 904 2290 this month on Communication – Substance Delivered Clearly, most importantly that “Substance email@example.com matters, substance sticks in communicating with your clients.” In building your relationships through ACG, share the substance that matters to ensure your business relationships stick. Contact ACG Atlanta Margie Poole - Executive Director Very truly yours, 1631 Phoenix Blvd. Suite 4 College Park, GA 30349 Katherine Morris Phone: 770 991 2170 Fax: 866 534 6438 Tax Partner, BDO Seidman, LLP firstname.lastname@example.org President, ACG Atlanta email@example.com Calendar of Events Board of Directors President April 16, 2009: 2:00 p.m. - 7:00 p.m. • Ritz Carlton Buckhead Katherine Morris Growing Opportunities in a Shrinking World BDO Seidman, LLP Sponsored by: M&A International & ACG Atlanta Executive Vice President Allen Taylor Speaker: Mr. Pete Correll, Chairman, Atlanta Equity and Chairman Emeritus, Bank of America Georgia-Pacific Corp.; Panel Discussions; Beers Around the World Reception Vice President of Programs Dom Mazzone April 16, 2009: 7:00 p.m. - 9:00 p.m. • Ritz Carlton Buckhead Mazzone & Associates, Inc. Monthly Dinner Meeting Vice President of Sponsorships Speaker: Thomas D. Bell, Jr.; Chairman and CEO, Cousins Properties Incorporated David Duke Sponsored by: McKenna Long & Aldridge LLP FD Capital Advisors Vice President of May 4, 2009: 7:00 p.m. - 9:00 p.m. • Haven Restaurant in Brookhaven Corporate Member Affairs Young ACG Event Stephen McGaw Sponsored by: ACG Atlanta and TM Capital Corp. AT&T Vice President of Membership Affairs May 5, 2009: 7:00 a.m. - 9:00 a.m. • Maggiano’s in Buckhead Alex Mammen ACG Academy Breakfast TM Capital Corp The Business Case for Corporate Social Responsibility and Sustainability Initiatives Vice President of Awards Kathy Harris Sponsored by: Alston & Bird Noro-Moseley Partners May 12-14, 2009: Wynn Las Vegas Vice President of Communications Quinn Hudson ACG InterGrowth 2009 Hudson|Crane Group May 19, 2009: 12:00 p.m. • Country Club of the South Vice President of Strategic Planning Joseph Longosz Golf Tournament Golub Capital May 21, 2009: 6:00 p.m. - 9:00 p.m. • Villa Christina Treasurer Bishop Leatherbury Monthly Dinner Meeting Tatum LLC Going Public and Making Acquisitions in a Challenging Economy, MedAssets Secretary Speaker: John Bardis, CEO, MedAssets Wayne Bradley Sponsored by: Barnes & Thornburg LLP McKenna Long & Aldridge LLP Immediate Past President Ed Fisher SouthPointe Ventures, LLC Directors Dan Bauer New Members CardioMEMS, Inc. Greg Cinnamon Kilpatrick Stockton LLP Jodi Arogeti, Bryan Cave Powell Goldstein Rob Coble Elizabeth Brantley, Frisch Capital Partners KPMG LLP John Clifford, Cerberus Capital Management Ezra Field Josh Ganz, Kilpatrick Stockton Roark Capital Group Nicholas Haughey, Alvarez & Marsal Transaction Advisory Group Winston Gillum Harbert Management Corporation Bob Johnson, Johnson Consulting & Advisory Nancy Halwig Gary McNorrill, Edge Capital Partners, LLC UPS Capital Corporation Steven Russell, Connextions Ransom James Christopher Surdo, VRA Partners, LLC Arcapita Patti Wagner, In Transition Richard Kopelman Habif, Arogeti & Wynne, LLP Andy Mason VRA Partners, LLC Teri McMahon Alston & Bird LLP Ira Moreland SunTrust Robinson Humphrey Capital Connection Chair Todd Wade Bryan Cave Powell Goldstein 2 ACG Atlanta Newsletter • April 2009 Letter from the Editor Substance Delivered Clearly: Communicating with Your Clients By Quinn Hudson Warren Buffett’s letter to shareholders In fact, too many corporate communications—memos, speeches, shows the cracks in the conventional bulletins, directions, working agreements—are peppered with the wisdom about communicating in our equivalent of “Limited Sight Distance”—with no context to help day: Image and ever shrinking brevity the reader or listener. in words carry the day. Twitter, the new rage, is a metaphor for the tightening Clarity reinforces substance. of text, the shunning of complexity that must be explained, the intolerance of To develop essential substance, you need simply to transform large blocks of words, whether spoken your knowledge of your business—the company’s collective or in print. knowledge—into a compelling statement; this should be the best statement the company can make on the matter at hand; beyond Yes, this conventional wisdom is any issues of the moment or statements about one aspect of generally right for mass audiences. But “generally” misses key the business, a company needs a clear and comprehensive audiences for businesses, whether a business is a manufacturer, statement of, strategies, markets, forces driving change, trends— a software company, or a specialist in mergers and acquisitions. all the basics. These key audiences are hungry for substance—substance clearly and plainly spoken and written. The most effective way to develop this substance is to get it down on paper; again, Warren Buffett’s letter makes that clear. The continuing imperative for substance delivered clearly is illustrated by Warren Buffett: Not only do investors in Berkshire- The reasons putting words on paper develops substance Hathaway look forward to reading his annual letter, but so do effectively is that it forces you to come to grips with what they investors of all stripes along with policy makers, general media, really know and exactly how you want to say it. In other words, and people who simply want to be well informed. putting words on paper clarifies thinking—about substance itself, and the way it should be presented, the order of argument, the Buffett’s letter is packed with substance while breaking all the way the argument is framed. rules about brevity and getting noticed and holding attention in our age. His most recent letter--dated Feb. 27—runs to 21 pages Writing a letter, statement or speech also forces you to come to of dense text and charts. No photographs, no colorful graphics. grips with exactly what you want to say, the exact words you want But while he breaks lots of rules, Buffett sticks to the rules on to use. clarity. Such substance can drive all messaging. But there needs to be Clarity is part of substance—clarity makes substance visible. a special effort to get the most substantive forms of the message to the audiences most hungry for substance. On the other hand, substance can be lost in gaps in logic and information, implicit assumptions that should be explicit, imprecise Substance matters, substance sticks. or abstract language, a flood of unnecessary words, and twisted syntax. About the Author Quinn Hudson is president of the Hudson|Crane Group, a A road sign you might have seen lets us see the power of clarity corporate communications firm that frames issues for executives as opposed to obscure words: “Limited Sight Distance.” who want to make a difference. Limited Sight Distance? In context, we know what it means. But why not: “Hill Blocks View” or “Curve Blocks View.” Call for Volunteers If you are interested in getting more involved in ACG, please reach out to Margie Poole at ACG Atlanta by calling 770 991 2170 or via email at firstname.lastname@example.org with your interests or ideas. We are always thankful for more involvement from our members. Join ACG Atlanta! – Margie Poole www.acg.org/atlanta ACG Atlanta Executive Director ACG Atlanta Newsletter • April 2009 3 7 to 9 PM Please RSVP by April 30 Young ACG ACG Atlanta Atlanta Young ACGofAtlantaYoungCorporate Growthpleasure The Atlanta Chapter the Association for the pleasure is holding requests requests the the requests Atlantapleasure your presence!presence!and its third quarterly meeting of professionals age 35 and younger involved of of your in corporate growth, corporate development and mergers Young ACG acquisitions. presence! your of your presence! requests the pleasure of We will be discussing the benefits of membership, upcoming events and what potential members would hope to gain by joining. 1441 Dresden Drive30319 · Georgia · 30319 Monday, May 4th 1441 Dresden Drive · Atlanta · Georgia · · Atlanta Monday, Monday, forward May 4th Go to http://chapters.acg.org/atlanta 7 to 9 PM pleaseMay 4th this to register, and to other youngDrive 7 to 9 PM 7 to 9 PM invitation1441 Dresden Drive · Atlanta · Georgia · 30319 1441 Dresden professionals that would be interested. Atlanta · Georgia · 30319 Please April 30 RSVP Please RSVP byRSVP by April 30 by April 30 Please Monday, May 4th Complementary 7 to 9 PMand appetizers willChapter ofAtlanta Chapter of theof35 andGrowth age 35 andGrowth isinvolved cocktails The Atlanta provided meeting Association for Corporate be The thequarterlyby: Corporate younger holding its third Association for is its third quarterly meeting of professionals age professionals involved younger holding holding its third quarterly meeting of The Atlanta Chapter of the Association for Corporate Growth is in corporate growth, corporate development and mergers and in corporate growth, corporate 1441 involved Drive · Atlanta · Georgia · 30319 development and mergers and professionals age 35 and younger Dresden 30 corporate growth, corporate development and mergers and Please RSVP by April in acquisitions. acquisitions. acquisitions. The Atlanta Chapter of the Association for Corporate Growth is holding Monday, May 4th We will We will be discussing the benefits of membership, upcoming events and its third quarterly meeting of professionals age 35 and younger involved be discussing the benefits of membership, upcoming events and what potential members would hope in corporate growth, corporate development and mergerswhat potential members would hope to gain by joining. to gain by joining. and We will be discussing the benefits of membership, upcoming events and what potential members would acquisitions. 7 to 9 PM hope to gain by joining. Go to http://chapters.acg.org/atlanta to register, and Go to http://chapters.acg.org/atlanta to register, and please forward thisplease forward this invitation to other young professionals that would be interested. invitation to other young professionals that would be interested. We will be discussing the benefits of membership, upcoming events and what potential members would hope to gain by joining. Complementary cocktails young professionals Go to http://chapters.acg.org/atlanta to register, and please forward this invitation to otherbe provided by: be provided by: Complementary cocktails and appetizers willand appetizers will Go to http://chapters.acg.org/atlanta to register, and please forward this Please RSVP that would be invitation to other young professionals that would be interested. by April 30 interested. Complementary cocktails and appetizers will be provided by: Complementary cocktails and appetizers will be provided by: The Atlanta Chapter of the Association for Corporate Growth is holding its third quarterly meeting of professionals age 35 and younger involved in corporate growth, corporate development and mergers and ACG membership is not required for this event and admission is free of charge. acquisitions. ACG membership event and admission event and admission is free of charge. ACG membership is not required for thisis not required for thisis free of charge. We will be discussing the benefits of membership, upcoming events and what potential members wouldfree of charge.to gain by joining. ACG membership is not required for this event and admission is hope Go to Tournament Golf Classic http://chapters.acg.org/atlanta to register, and please forward this invitation to 2009 Tuesday, May 19, other young professionals that would be interested. Shotgun Start: 1:00 pm Complementary cocktails $175 per player / $700 Foursome and appetizers will be provided by: The CounTry Club of The SouTh Registration for this event is available at: 4100 Old Alabama Road http://chapters.acg.org/atlanta Alpharetta, GA 30022 For more information regarding this event, please contact: Our annual Golf Tournament is a favorite event of our members and their guests. In this economic environment, personal time in a ACG Atlanta relaxed setting with clients and potential clients is more important 1631 Phoenix Boulevard, Suite 4 College Park, GA 30349 than ever. This is an awesome opportunity to entertain clients T: +1 770 991 2170 and provide them with a memorable and enjoyable experience. F: +1 866 534 6438 Golfers of all ages and handicaps are welcome. Email: charge. ACG membership is not required for this event and admission is free email@example.com Special thanks to our event sponsor: 4 ACG Atlanta Newsletter • April 2009 Maria Saporta’s Column Metro Atlanta’s Traffic Jam: Is Anybody Listening? Back in 1996, Gareth Clark relocated the transit; and they have found ways to fund ACG member Richard Lawry, partner and American headquarters for the London transportation improvements. co-founder of EGL Holdings, moved to International Group to Atlanta. The big Atlanta in 1981 to set up the North American draw for Clark was Hartsfield-Jackson But Williams said Georgia elected officials headquarters of Glynwed Inc. International Airport and its superior have abandoned their responsibility and domestic and international air service. resorted to politics as usual. Saying that Atlanta’s rush hour can cause a lot of headaches, Lawry has learned how At the time, he remembers hearing that “They are playing politics with the future to avoid traffic by taking back roads. Still he the Atlanta region was talking about how of the state’s economy,” Williams said. ”I believes that the metro area needs to invest to improve transportation within the metro think the business community is sick and in an extensive transit system. He was area as congestion was becoming more tired. We set up the Get Georgia Moving especially concerned about the possibility and more of a problem. Coalition with 100 member organizations. that MARTA would have to cut back service We held countless number of meetings, because of a lack of operating funds. “I couldn’t imagine in 1996 that in 2009, and we still ended up worse off than we did we would still be talking about getting a last year.” “The very thought of shutting down for a comprehensive transportation plan,” said day a week is very disappointing,” Lawry Clark, an ACG-Atlanta member. “When As a result, our top competitors are said. you move somewhere, you don’t expect “celebrating,” Williams added. things to be perfect, but clearly you expect Clark also said Atlanta’s lack of transit was for there to be plans in place to address the The lack of progress on transportation “a major negative” for the region. “You’ve imperfections.” improvements already has taken a toll on got good transit in some areas and no Georgia’s economic development efforts. transit in other areas,” he said. “You’ve got Unfortunately for metro Atlanta and its a fragmented government approach.” prospects for economic growth, urban Three years ago, MeadWestvaco, a transportation improvements remain on Fortune 500 packaging company, was After 13 years, Clark said he is puzzled hold. The 2009 Georgia General Assembly considering metro Atlanta for its corporate about why there hasn’t been adequate failed to come up with a compromise headquarters and a consolidated research progress to address our transportation bill to give voters in the region the option and development facility. The headquarters needs. to pass a one-cent sales tax to invest in would have established about 2,000 jobs in transportation. Atlanta, and the research and development “This is such a high profile issue, and it operation eventually would have had as is clearly so important to the business Even if such a bill had passed, it would have many as 500 researchers partnering with community because of the economic taken several years before money would Georgia Tech. benefits,” he said. “It really surprises me start flowing towards actual transportation that the politicians can’t seem to reach any projects because plans would have had But because of the problems with metro consensus.” to be approved by voters. So the Atlanta Atlanta’s traffic, MeadWestvaco decided to region now sits in a quagmire of growing move its headquarters from Stamford, Ct. To follow continuing updates on metro congestion with no hope for improvements to Richmond, Va.; and it decided to locate Atlanta’s transportation and development anytime soon. its Packaging Innovation Center in Raleigh, issues, please check out my website: www. N.C. SaportaReport.com. Now metro business leaders believe the lack of action on transportation funding will MeadWestvaco executives told metro Atlanta officials that one of the main reasons Maria Saporta, have serious repercussions on the region’s they picked Richmond and Raleigh over one of Atlanta’s ability to attract economic growth. Atlanta was because our region was not outstanding “This has huge consequences,” said Sam addressing its traffic problems. journalists and Williams, president of the Metro Atlanta observers of Chamber, when the legislature didn’t act on Top economic development officials are local businesses, transportation funding. “It’s the theater of concerned that this story will keep repeating will be writing a itself until something is done to address monthly story the absurd. We can get the Olympics. We congestion. The Metro Atlanta Chamber for the ACG can build the world’s busiest airport. But we has invited numerous relocation experts Newsletter. She was with the can’t pass transportation funding. We’ve to point out the region’s weaknesses. In Atlanta Journal-Constitution for 27 been working on this for seven years.” December, 2007, relocation consultant years as a reporter and business Williams said he was concerned about what Dennis Donovan of WDG Consulting, columnist. maria currently is writing this would mean for Atlanta’s competitive told chamber officials that Atlanta’s traffic a weekly column on Atlanta’s edge. Other cities, such as Charlotte and problem was reaching the point of “no return” business community for the Atlanta Dallas, have been investing in light rail as more and more prospects were aware Business Chronicle. of the region’s increased congestion. ACG Atlanta Newsletter • April 2009 5 ACG Atlanta Academy Breakfast - May 5, 2009 The Business Case for Corporate Social Responsibility and Sustainability Initiatives By Teri McMahon, Partner, Alston & Bird Did you know that many of the world’s leading companies are taking significant steps to improve their sustainability/ social responsibility performance and turning it into a central part of their identity? Studies show a fundamental shift in the relationship between business and sustainability which signals many more companies are pursuing sustainability approaches. McKinsey & Company reported that more than 90% of America’s CEO’s are doing more in the past few years than five years before to incorporate environmental, social and governance issues into their companies’ strategy and operations. Why does this make good business sense in a tough economic environment? Are you and your organizations tuned into your constituencies during these turbulent times? Join us for our next Academy Breakfast on May 5, when corporate leaders of Georgia-Pacific, UPS, and Coca-Cola North America discuss their company initiatives in the areas of corporate social responsibility and sustainability. We will also have Miriam Burgess, President of Board of Directors Network, talk with us about women leadership at the board and executive levels of companies, and she’ll provide compelling data about the positive effects to the bottom line of women at the top of corporations. Each of our corporate panelists will describe a particular initiative within his or her organization that supports the company’s mission and brand, followed by a discussion of how the companies set the standard and promote sustainability into their respective supply chains. We are privileged to have Bill Frerking, Chief Sustainability Officer of Georgia-Pacific, Lynnette McIntire, UPS’s Director of Corporate Reputation Management, and Ben Jordan, Sustainability Strategist for Coca-Cola North America, discuss their corporate programs and describe their companies’ efforts in these initiatives and how they are setting an example for those organizations and individuals who strive to do business with them as well. Alston & Bird LLP is our sponsor for the May 5 breakfast and Teri McMahon, a law partner at Alston & Bird, will moderate this interesting panel. Please join us for a lively discussion. Announcements... The Nominating Committee of the Board of Directors of ACG Atlanta is soliciting suggestions for potential nominees for next year’s Board of Directors. Qualifications include a willingness to be an active participant on the Board, including attending monthly Board meetings and dinners, attending other ACG events, and active participation in at least one Committee of the Board, such as Membership, Awards, Corporate Member Affairs, Community Service, Programs, or others. Members who have demonstrated interest through prior Committee involvement and attendance at ACG events will be given priority. If you have a suggestion, or would like to be considered yourself, please contact Wayne Bradley at 404-527-4044, or firstname.lastname@example.org. DealWire – need a volunteer to help capture information on recent deals. This is a new opportunity to get involved with ACG Atlanta. Send your interest to email@example.com ACG member Stuart C. Johnson has joined Barnes & Thornburg LLP (www.btlaw.com) to open its Atlanta office, where he is a partner in the firm’s Business Department. Stuart is a member of ACG’s global board of directors, and focuses his practice on counseling growth-oriented middle market businesses on strategic transactional activity and general business matters. Volunteer Call - We are soliciting volunteers to serve on committees. Dan Bauer is leading this effort. Please submit your interests to Dan Bauer or to firstname.lastname@example.org. Community Service – We are collecting information on members and their community involvement for our June Newsletter issue, focused on giving back to the community. Please provide us with your involvement in the community and what inspires you, or share a great story about a fellow member and their contribution to our community. CFO of the Year Awards - It’s time to nominate the achievements of the very best CFOs in Atlanta. Join us as we present the Atlanta CFO of the Year Awards presented by Atlanta Business Chronicle and the Association of Corporate Growth Friday, June 5 from 7:30- 9:30 a.m. to acknowledge their invaluable contributions to some of the fastest growing and most successful companies in Atlanta. We will honor the top CFOs in seven categories including Public Company: Medium & Large Categories; Private Company: Small, Medium & Large Categories; Non-profit and the Community Service Award. Winners and finalists will be featured in a special section of the June 5 Atlanta Business Chronicle. Member Profile – Use an opportunity to have ACG Atlanta to interview and write up a profile on you in one of our upcoming monthly newsletters. Thought Leadership – Write an original article on a current topic in the M&A community and submit it for consideration by the editor. ACG InterGrowth is expecting a large crowd of over 2,000 dealmakers in the M&A community at the annual conference in Las Vegas on May 12 – 14 at the fabulous Wynn. Go to www.acg.org for more information and to register. Deals? Changing jobs? Let us hear your news, contact us! 6 ACG Atlanta Newsletter • April 2009 Member Profile Richard A. Clegg Consul & Trade Commissioner; Consulate General of Canada, Midtown Atlanta Please describe for our readers your Multi-sectoral experiences include: food & beverage, industrial current responsibilities: The Consul automation, production engineering, remote sensing & machine and Trade Commissioner position at vision as well as exposure to the aerospace and defence the Consulate General of Canada is a industries. four-year posting through the summer of 2010, with responsibility for managing Almost 10 years experience with the Canadian Federal Canada’s Investment program in the four government covering international trade and investment Southeastern states of AL, GA, MS and responsibilities in Western and Eastern Europe & Russia, as TN, with priority on aspects of the ICT, well as North America (United States and Mexico). Life Sciences and Automotive sectors. Personal information: Married to Montrealer, Carol (née As part of a seven-person Commerce team, the position also Cairns) with two ‘children’ – Oliver, 28, who works in the property focuses on Canada’s significant export presence in the huge management business in Whistler, BC (with Vancouver, home and expanding Southeastern US automotive sector. An to the XX1 Winter Olympics in 2010), and Heather, 25, who integrated team approach also focuses on Canadian strengths in is completing her Masters at the University of Toronto Medical Aerospace & Defense, Cleantech and Green-build expertise. School in Physiotherapy, with a focus on sports injuries. What would you be doing if you were not in your current Hobbies: Golf, a former rugby player for 40+ years, an avid job? Probably working back in the agri-business sector, as the cross-country skier (where’s the snow in Dixie?),and a keen senior officer responsible for leading the public sector effort Formula 1 auto racing fan (intrigued why NASCAR drivers supporting the Canadian private sector with its significant export don’t get dizzy)! A total convert to college football (go Georgia) growth in Mexico – one of Canada’s fastest growing food and –diplomatic to the core! beverage markets. What is a recent book you have read that you would What do you look for in your ACG membership? The recommend to our members? Not a recent book, but recently opportunity to meet key contacts in the capital markets and read: Losing My Virginity – global entrepreneur, Richard M&A field, in order to help connect Atlanta-based deal makers Branson’s autobiography. with Canadian-based opportunities, and vice versa. What is your favorite book of all time? My Early Life – Where do you get most of your business leads and Winston Churchill’s early memoirs of his youth and (rebellious) connections? A large percentage of my important business schoolboy antics. contacts, and in turn, business leads, arise from my ACG membership, as well as from related Angel and Venture Capital What is the best advice you have received in connection organizations. with your career? “Work hard, play harder, but in that order!” How is the current economy impacting your sector of the Quotable Quotes - What advice can you share with our market, and what do you see? Canada’s economy had been members? “You turn if you want to. The lady’s not for turning!” strong and resilient leading up to the current financial crisis, – British Prime Minister in 1980 determined to stick to her with very sound fundamentals, not least in the financial services approach to pulling Britain out of a severe recession. sector, and had enjoyed 12 consecutive years of budget Other items of interest you would like us to include: The surpluses. While Canada has also been impacted by the Consulate General of Canada, under the leadership of Head current recession, its recovery is expected to be quicker than of Mission, Consul General, Brian Oak, is one of 22 Canadian many, due in part to the strength of Canada’s financial system, missions across the United States, reflecting the importance whose considerable achievements have been frequently noted that Canada attaches to its trading, investment and political in the global media, recently. Alone among its G-7 peers, the relationships with the United States of America. Canadian banking sector has received neither financial bailouts nor had a single bank failure, to date. The role of the mission is to promote trade and investment links, including science and technology partnering. We also Tell us a little bit about yourself… Born and educated in the advance academic and cultural ties between Canada and the United Kingdom, and arrived in North America, via Montreal, U.S., and assist Canadians living and visiting the southeastern Canada in 1972; worked as Technical Director for Labatt’s U.S. The territory covered by this Consulate General includes Industrial Foods Division – one of Canada’s largest food and six southeastern states -- Alabama, Georgia, Mississippi and beverage conglomerates at that time. Tennessee with North and South Carolina interests handled by Over 30 years experience in the private sector, covering areas a smaller Consulate in Raleigh-Durham. such as industrial processing, sales & marketing, trade & investment promotion, and operating experience in countries such as the UK, South Africa, Australia, Canada, USA, Mexico, Western Europe/Russia and the Arabian Gulf. ACG Atlanta Newsletter • April 2009 7 Corporate growth, business development and those who bring them to life. This is ACG Atlanta. The Association for Corporate Growth (ACG) Atlanta Chapter is pleased to announce the winner of Atlanta’s 2009 ACG Cup, held April 4, 2009, at the Goizueta Business School at Emory University. ACG Cup is a business case study competition in which students from over 100 MBA programs participate and present valuation, capital markets, and mergers & acquisition advice to experienced ACG professionals, including investment bankers, lenders, private equity groups, accountants, attorneys and corporate development officers. Congratulations to Atlanta’s 2009 ACG Cup Champions! Emory University- Goizueta Business School ► Andy Giacone ► Porter Jones ► John McNeill ► Chris Prevost 770 991 2170 email@example.com http://chapters.acg.org/atlanta 8 ACG Atlanta Newsletter • April 2009 ACG Cup Update MBA Teams from University Georgia, Georgia Tech and Emory Compete for Atlanta’s Inaugural 2009 ACG CUP Case Competition By Paul Kleinkauf, Regional Director, DataSite Local MBA superstars competed in “Team Madoff” of Goizueta Business School of Emory delivered grueling initial rounds on the campuses the winning pitch for the 2009 ACG Cup. The Emory MBA team of the University of Georgia, Georgia was comprised of Andy Giacone, Porter Jones, John McNeill Tech and Emory. The ACG Cup and Chris Prevost. The runner-ups were The University of competition tests the students’ ability Georgia – Terry College of Business and Georgia Tech College to assess a complex business case of Management. requiring a combination of corporate strategy, finance and valuation skills Judges for the final round included Lacey Lewis – Cox and formulate recommendations to Communications; Trey Huffman – Earthlink; Katherine Morris – ACG present to a representative “board.” Chapter President and BDO Seidman; Stuart Johnson – Barnes and The students had an opportunity to Thornburg; Ira Moreland – SunTrust Robinson Humphrey; Thomas display their skill set in front of a “board” Puricelli – Houlihan Lokey; Michael Bloom – Mazzone & Associates; comprised of local ACG professionals, academic leaders and Scott Whitaker – Whitaker Company; and Melanie Jones – Kilpatrick other local corporate development professionals. Stockton. In the initial round, the teams were given a case matter involving the We are currently considering the expansion of the ACG Cup for strategic direction of Holdco given the current market conditions. the 2010 competition. More information about the national ACG Each campus competition resulted in a representative winner for Cup initiative is at http://www.acg.org/ACGCup/AboutACGCup. the Chapter Championship. In 2010, the ACG Cup competition will include a national championship to be held at InterGrowth. MBA students competed for Chapter Championship at Emory University on Thursday April 9, 2009. In the final round, teams For more information about the ACG Cup in Atlanta, or to volunteer were challenged to find a solution to a previously reviewed fact to participate in the next round of competitions, contact Ezra Field pattern in conjunction with a related financial advisory pitch. (firstname.lastname@example.org) or Paul Kleinkauf (Paul.Kleinkauf@ The final round teams made a presentation to judges, who filled merrillcorp.com), both Co-Chairs of the Atlanta ACG Cup Planning the role of executives of ‘Sox Group’ on purchase of Holdco’s Committee. subsidiary Fashion Co. ACG Atlanta Newsletter • April 2009 9 2009 t. en ev The 38th Annual ACG InterGrowth® Conference ers May 12-14, 2009 / Las Vegas, Nevada Presented by the Association for Corporate Growth ak alm de st REGISTER BY MARCH 16, 2009 TO GET THE ge EARLY BIRD DISCOUNT! www.acg.org lar d ’s orl e w Th Capital.Connections.Deals. ACG InterGrowth® is the world’s largest dealmakers conference. More than 2,000 middle market M&A professionals network, source deals and learn best practices at InterGrowth. Participants include senior-level private equity professionals, intermediaries, corporate development officers, lenders, lawyers and accountants. 90%of InterGrowth 2008 participants reported they made valuable business contacts at the conference. 75 directly attributed new % business deals to attending. www.acg.org 10 ACG Atlanta Newsletter • April 2009 Thought Leadership Great Deal, Bad Integration... Sound Familiar? By Scott C. Whitaker Let’s face it, trying to focus attention on along with their “day jobs.” One of the most common mistakes post acquisition integration is difficult companies make is to inadequately staff their integration teams, when planning a merger or acquisition. which often insures a painful, slow and mistake-prone integration Companies often overlook the details of process. integration planning during the heat of the deal making process, as time and energy Creating an Integration Playbook is spent on due diligence and getting the Integration playbooks are scalable, flexible operational plans that deal closed-leaving little time for much will help your company achieve a smooth integration. Playbooks are else. fluid, and should continually be optimized by incorporating lessons learned and best practices from previous integrations. But according to a recent study, the number one cause of deal failure is due Every company has unique integration needs, so there is no “one to acquiring companies ignoring integration challenges. Companies size fits all” playbook, however all playbooks should include some of can avoid this trap by establishing clear integration objectives, by the fundamental elements outlined below: creating concise integration plans and playbooks, and by properly staffing an integration team. Post acquisition integration plans need to have clear objectives: • Rapidly capture cost & revenue synergies • Streamline organization and critical business processes • Minimize disruption to employees, customers and suppliers • Execute an issue-free Day One • Maintain focus on current business Companies can ensure they realize these goals by creating integration plans, playbooks and staffing a short term IMO (Integration Management office) to accomplish the following: Whether it’s a $15 million or a $36 billion deal, Integrations have • Making sure the acquiring company realizes the goals of their common needs which must be addressed with an integration strategy M&A strategy by following through with integration execution. and a post acquisition integration process. Make post acquisition • Creating customized, flexible and scalable integration playbooks. integration planning a priority for your next deal to help realize your • Creating detailed operational and functional integration plans with M&A business objectives. tools, templates and reports to support execution. • Training and operationalizing an Integration Management Offices About the Author (IMO) to help with subsequent integration activity. Scott Whitaker is President & CEO of Whitaker & Company. Whitaker & Company, Inc. is an Atlanta based consulting and Securing dedicated resources to handle integration efforts is also project management firm that specializes in helping companies important, as integration deliverables and time requirements are execute growth strategies and solve operational issues. Whitaker substantial during the initial 100 day period following the deal close, & Company offers expertise in Merger Integration and Strategic and folks will be hard pressed to properly handle integration duties Positioning & Operations. MEMBER NEWSLETTER The newsletter is a great way for you to share your expertise and news with the other 500 Atlanta members and the broader dealmaking community. There are two opportunities: • First, the newsletter has a monthly “Thought Leadership” column of about 500 words on a topic or issue important to our membership. If you have an idea for a column, please submit a brief description of the topic. • Second, the newsletter reports on member news such as new jobs, new firms, promotions, awards, accomplishments and deals done so send us your news. Announcements by other organizations, news about non-members, marketing pitches and general information will not be considered. We reserve the right to select and edit all submissions. Please send all items for consideration to the attention of the editor at email@example.com. ACG Atlanta Newsletter • April 2009 11 Programs Update March Dinner Meeting with Stephen L. Schilling from Cypress Communications March 19, 2009 - 141 in attendance ACG Atlanta Sponsors Thank you to all our Sponsors: 12 ACG Atlanta Newsletter • April 2009 Member - Recent Deals G.L. Ohrstrom & Co. Announces New Platform Investment New York, NY March 9, 2009 G.L. Ohrstrom & Co., Inc., a New York-based private equity firm, has created and capitalized Seal Industries, Inc. Seal Industries has been created to consolidate the industrial and energy services markets. Nelson Mullins served as legal counsel to the founder of Decatur-based Videolarm, Inc. in its sale to Moog Inc. (NYSE: MOG.A and MOG.B) for $45 million in cash on February 13, 2009. ACG April 6, 2009 Atlanta member Rhys Wilson led the Nelson Mullins team, which included Hemant Dutta, April 6, 2009 David Goldberg, Jim Holmes and Continuing its tradition of profitable growth,Margaret Welch. Continuing its tradition of profitable growth, isHodgson Russ LLP a recent pleased to announce of Buffalo, NY EBSCOEBSCO is pleased to announce a recent represented April 6, 2009 Moog. acquisition in the database publishing industry: acquisition in the database publishing industry: April 6, 2009 April 6, 2009 has acquired Salem Press Salem Press has acquired referencereference works publisher works publisher January 2009 January 2009 has acquired Effective Effective31, EBSCO subsidiary EBSCO Pub- January January 31, EBSCO subsidiary EBSCO Pub- has acquired lishing the assets of Salem Press, an award- lishing acquired acquired the assets of Salem Press, an award- winning of reference works on literature, winning publisherpublisher of reference works on literature, history and biography, and the These works history and biography, and the sciences. sciences. These works include traditional print e-books e-books and has include traditional print products,products,and online online acquired subscription databases for use at public, subscription databases designeddesigned for use at public, The undersigned acted as nancial advisor to Hitachi school and college school and college libraries. libraries. Consulting in connection with this transaction. The undersigned acted as nancial advisor to Hitachi Consulting in connection with this transaction. The undersigned acted as nancial advisor to Hitachi Consulting in connection with this transaction. The undersigned acted as nancial advisor to Hitachi v Consulting in connection with this transaction. If like more like more information on EBSCO’s acquisition criteria or investment philosophy, please If you wouldyou would information on EBSCO’s acquisition criteria or investment philosophy, please contact: contact: Member - Recent Deals This announcement appears as a matter of record only Has Been Acquired By APSE Holdings, LLC An Affiliate Of And The Undersigned Initiated This Transaction, Assisted In The Negotiations And Acted As Financial Advisor to Aerospace Products S.E., Inc.
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