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With the rapid spread of COVID-19 taking hold in the U.S. and across the world, publicly-traded stock prices have taken a beating. Additionally, as business, economic, and political uncertainties increase, private valuations in certain types of securities and industries will certainly take a hit this year. Although this may cause temporary pain in the form of lower portfolio and 401k balances, significant planning opportunities remain for high net worth individuals, business owners, and shareholders of privately held companies.
Take Advantage of the Exemption from Estate, Gift and Generation-Skipping Transfer Tax – With everything that’s going on, it’s easy to forget the significant changes that went into effect in 2018 with respect to the estate and gift taxes. To summarize, the federal tax law was changed to allow individuals to transfer double the amount that was previously allowed over the course of their lifetime free of tax. As of this writing, individuals may transfer $11.58 million and married couples up to $23.16 [Read more…]
March madness canceled. Ice hockey thawed. No baseball. Schools closed. Restaurants offering curbside pickup. Breweries doing delivery. Supply chain disruption. Hoarding. Entire companies working remotely. No toilet paper on the shelves! Trump. Congress. COVID-19 vaccine. Social distancing. Stay at home. Olympics delayed. N95 masks. SXSW scratched. Distance learning. Concerts delayed. Disney locked. Group meetings? Fuhgeddaboutit! The headlines sound like new lyrics to REM’s famous title “It’s the End of the World as We Know It.”
What does it mean for a Company’s business valuation? Coronavirus, or COVID-19, muddies business valuations for an indeterminable period. Many businesses will be adversely affected by reduced sales, uncollectible receivables, staff absences for a variety of reasons, increased costs of operating remotely, increased sanitation costs when out of the office work is not feasible, etc.
The Department of Treasury has released the Paycheck Protection Program application and supplemental information, all available on their website.
Sample Application for the Paycheck Protection Program is Now Available: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf
Lenders may begin processing loan applications as soon as April 3, 2020.
Currently, the SBA has a number of programs available through the $2 trillion CARES Act, the largest aid package in American history. One in particular companies should be reviewing is Paycheck Protection Program:
The Paycheck Protection Program (“PPP”) is an emergency lending facility, administered by the Small Business Administration (SBA), to permit small businesses, nonprofits, and individuals to obtain loans via the 7(a) Loan Program (“PPP Loans”). A link to the full bill is located here.
As we navigate the ongoing impact of the Coronavirus, we are assisting our clients who are suffering from the loss of clients/customers during this time. Below are several options for assistance currently available for small businesses in addition to information being given by the Maryland Department of Commerce and the CDC. As more resources become available we will update this list.
- Sales and Use Tax in Maryland:
- Businesses who paid their Maryland and Sales Use taxes for March early may request a refund of their payment by emailing firstname.lastname@example.org or by calling 410-260-4020
- SBA – Disaster Loan Assistance Business Disaster Loans – https://www.disasterassistance.gov/get-assistance/forms-of-assistance/4479
- Businesses of all sizes, as well as private non-profit organizations, may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, and inventory and other business assets.
- In some cases, SBA may be able to refinance all or part of a prior mortgage or lien. We may also be able to increase the loan up to 20% of the confirmed physical losses.
- You could use the loan increase to make improvements that reduce the risk of damage by future disasters. This could include improvements like retaining walls, seawalls, sump pumps, safe rooms, and storm shelters.
- The SBA offers Economic Injury Disaster Loans (EIDL) up to $2 million to help meet working capital needs caused by the disaster. The program limit for business loans is $2 million. This applies to all combined funding paid to a business and its affiliates for each disaster.
- To qualify, your business or private non-profit organization must have physical damage or economic harm and be located in a declared county.
- SBA – Economic Injury Disaster Loans – https://disasterloan.sba.gov/ela/Information/EIDLLoans
- The SBA can provide up to $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. Your loan amount will be based on your actual economic injury and your company’s financial needs, regardless of whether the business suffered any property damage.
- The interest rate on EIDLs will not exceed 4 percent per year. The term of these loans will not exceed 30 years. The repayment term will be determined by your ability to repay the loan.
- A business may qualify for both an EIDL and a physical disaster loan. The maximum combined loan amount is $2 million.
- Facebook – Small Business Grants Program – https://www.facebook.com/business/boost/grants
- Facebook announced $100 million in grants for small businesses in a blog post on March 17.
- They are offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where they operate.
- These grants can be used to keep your workforce going strong, help with rent costs, connect with more customers, and cover operational costs.
- They will share more details as they become available. You can sign up to receive updates in the link provided.
- IRS – Coronavirus Tax Relief – https://www.irs.gov/coronavirus
- The Treasury Department and IRS just announced a three-month delay for any tax payments owed up to $1 million.
- Returns still need to be filed by April 15, 2020 but will have until July 15 to pay.
- This will apply to individual tax returns but should also cover many pass-through entities and small businesses.
- American Express Financial Hardship – https://thepointsguy.com/news/amex-waiving-interest-late-fees-accounts-requesting-covid-19-relief/
- Amex is evaluating accounts on a case-by-case basis under its Financial Hardship Relief program to provide support for cardholders impacted by Coronavirus.
- Interest rates may be lowered to rates as low as 0%, and you may receive a waiver on late and other account fees.
- If you accept the relief, your accounts are frozen and may not be used further until they are paid off. Your Membership Rewards points are also frozen and cannot be used.
- The issuer may notify the credit bureaus that your account limits were lowered.
- American Express Working Capital – https://www.americanexpress.com/us/business/financing/working-capital-terms/index.html
- Amex business cardholders can enroll with no credit check and get ongoing access to funds used for vendor payments between $500 and $150,000 with repayment terms of 30, 60 or 90 days.
- These charge a fixed fee between 0.6% and 5.25%.
- Once enrolled, easily add vendors by providing their business and bank information. For your protection, they may need up to an additional 2 business days to verify the vendor information you provide.
- Amex will send payment to your eligible vendor via ACH within 2 business days and make it clear the payment came from your business.
- The amount you requested plus your fixed fee are auto-debited from your bank account at the end of the term.
- Request to pay as many eligible vendors as you want, as many times as you want up to your available borrow amount.
- Chase – Fee and Interest Relief – https://www.chase.com/digital/resources/coronavirus
- You can call the number on the back of your card and ask to speak with an account representative about the possibility of relief from fees and interest.
- Several people have reported success in having interest and late fees waived due to hardship related to COVID-19.
- They will also help you prepare and manage through potential business disruptions.
We will continue to update this information as more programs become available.
Evergreen Advisors, a middle market Investment Bank and Corporate Advisory Firm, with offices in both Columbia, MD and McLean, VA, is pleased to announce the acquisition of Baker-Meekins. As part of the transaction, James Webb, ASA and Shawn Moxley, ASA will become employees of Evergreen and Ross Adams, CFA will serve as a consultant. Based in Lutherville, MD, Baker-Meekins has been providing independent, expert opinions of the value of a business or its securities since 1987.
“We are very excited about the prospects of combining the experience, expertise and client base of the Baker-Meekins team with those of Evergreen. James and Shawn are widely known in the business valuation community for their expertise in complex fair value and ESOP valuations. They will be a tremendous addition to the group“, said Patrick Lowry, Managing Director of Evergreen’s Valuation Practice.
The need for expert valuation services is increasing in today’s litigious environment. The valuation of closely-held business interests and related assets in the context of tax, corporate transactions and legal disputes is necessary to properly resolve matters and make key financial decisions.
In contentious situations such as divorce or shareholder disputes, it is typical for the parties to hire two valuation experts; one for each side. However, opposing parties may jointly decide, in consultation with their legal teams, to use a neutral valuation expert (NVE). In this case, a neutral appraisal is completed for parties with opposing interests by an independent third-party appraiser or valuation expert.
How can a neutral valuation expert assist you?
- Reduce Financial Uncertainty and Suspicion – The NVE has the expertise to identify the necessary and appropriate data required to ensure full disclosure of all relevant financial information including, financial statements, tax returns, and other bank, investment and retirement plan account data. Trust increases when clients are comfortable that a complete financial picture has been presented and any questions have been asked and answered.
- Provide Fair Access to Financial Information – Specifically, in a divorce setting, the NVE can alleviate the non-money spouse’s financial suspicions and concerns. In many cases, one spouse handles the family’s finances or holds equity interests in privately-held companies. A lack of familiarity with the family finances contributes to angst and uncertainty about the future. The NVE may educate the spouse who has not been intimately involved with the finances. The increased education and understanding diminishes some of the anxiety and concern.
- Independent Opinion – Since the NVE is independent, the parties are more likely to reach an agreement. The NVE can help clients evaluate the various financial options under consideration and explain how those decisions impact both parties and the valuation outcome. Information about the implications of various terms from the NVE provides the parties with the confidence to make decisions and reach an agreement.
Rick Kohr was recently interviewed at the Maryland Life Sciences’ first annual Bio-Innovation Conference, which was held on October 7, 2019. Marty Rosendale, CEO of MTC and host of the Capital M podcast, sits down Rick to discuss access to capital in Maryland and the Mid-Atlantic. He discusses what investors are looking for when meeting new companies and how his company prepares others for raising capital.
The Bio-Innovation Conference provides a forum for professionals from industry, academia, and government to discuss trends and insights into Maryland’s growing life sciences industry while showcasing the state’s and region’s innovations and successes in the life sciences industry. The all-day event attracts more than 400+ top life science professionals.
The cybersecurity industry will continue to remain a growth industry with the internet and its related threats routinely appearing in various new forms. Security is continually evolving — what worked to protect the internet user a year ago is not effective today.
This year has brought a flood of new venture capital funding in cybersecurity, following up on the approximately $5.3 billion invested in 2018. The industry continues to see capital pour into companies competing in the SaaS Monitoring & Security vertical. Going back to the third quarter of 2016 there have been more than forty deals funded every quarter, except two.
However, cybersecurity was more recently listed fifth in investment dollars behind other emerging markets – Artificial Intelligence, FinTech, Digital Health and IoT. Cybersecurity deal activity dropped to its lowest level since the fourth quarter of 2018. There were 63 deals funded in the third quarter, totaling $1 billion..
Read more Here in the I95 Magazine
Evergreen Advisors, LLC is pleased to announce that George Davis will be joining the firm as Executive Vice President, Strategic Advisory. Strategic Advisory. George is well-known for his successes in investing, building and managing biotech, IT, and software companies, often from the start-up stage. He recently completed a 2-year tenure as Executive Director and CEO of Maryland’s Technology Development Corporation (TEDCO), the State’s Technology Transfer, Innovation Development and Venture Investing Platform. With over 30 years of management experience, having served in various C-level positions, including President and CEO of publicly traded companies, George offers a broad range of experience and business acumen.
“George brings tremendous wisdom, experience, strategic insights and network to the firm and our clients,” says Rick Kohr, founding member and CEO of Evergreen Advisors. “Most importantly, he’s a perfect fit for Evergreen in terms of our reputation for strategically guiding clients to meet their goals. We’re thrilled to have George and his track record of helping companies generate accelerated, profitable growth across many industry verticals.”
About Evergreen Advisors
The Evergreen Advisors, LLC is a leading investment banking and corporate advisory firm focused on assisting emerging growth and middle-market companies in the areas of corporate finance, growth and exit strategies, business valuation and advisory services. Providing innovative and strategic solutions team, the team has completed over 100 M&A and capital raising transactions, totaling over $5 billion in value for publicly traded and privately held companies. For more information, visit www.evergreenadvisorsllc.com
With the venture capital market hopping with big money deals and his company planning a (partial) move to the South Baltimore’s glitzy Port Covington project, Rick Kohr, the founding member and CEO of Columbia-based Evergreen Advisors, is at a juncture in his career. That means Kohr, who has more than 30 years’ experience in advising early stage growth and middle-market companies has plenty to talk about.
What are the trends in venture capital (VC) today?
First off, we’re seeing a very robust market. Going back to 2014, it was very strong in terms of investment in the U.S., where we’d gone from $71 billion of invested capital to $132 billion in 2018; this year, the first quarter was $32.6 billion in the U.S., which was down 36 percent from last year…..
Read more on page 8 here: http://www.bizmonthly.com/wp-content/uploads/2019/07/aug_Web_pages-reducedsize.pdf
While the appraisal of an Employee Stock Option Plan (ESOP) is very similar to other types of valuations of a private company, there are some complexities that require valuation expertise in ESOPs. The Employee Retirement Income Security Act of 1974 (ERISA) requires Trustees to obtain appraisals by independent valuation professionals to support ESOP transactions. An appraisal is needed when the ESOP initially acquires shares from the company’s owners and each year thereafter that the corporation makes contributions to the plan.
When the Trustees of an ESOP face issues related to appraiser objectivity and independence, qualifications, and knowledge of ESOP special considerations, they often look to Evergreen Advisors for valuation expertise. The following are the main reasons we are contacted for a change:
- Independence and Conflicts
The number one reason ESOP Trustees engage the experts at Evergreen is when an ESOP appraiser is conflicted by providing services to either the company, board, or other related parties to the company. This includes accounting firms that have separate valuation practices. ESOP Trustees are opting to mitigate this risk by engaging truly independent valuation firms like Evergreen to perform critical compliance-related analyses.
ESOP transactions are regulated by the Department of Labor (DOL), and typically have significant tax and legal implications. Therefore, an ESOP valuation must be able to withstand scrutiny and potential challenges from multiple parties including the DOL, the IRS, and the ESOP plan participants. With the additional scrutiny being given to ESOPS by DOL auditors, it is imperative that the ESOP valuation appraiser also have the requisite valuation training, experience, and credentials such as the Accredited Senior Appraiser (ASA), Accredited in Business Valuation (ABV), or Certified Valuation Analyst (CVA). [Read more…]
You would have to be completely unplugged from the media if you have not seen multiple headlines over the past few years profiling mergers and acquisition activity at record levels and record valuations. According to the Institute for Mergers, Acquisitions and Alliances, United States M&A volume as measured by transaction value was over $1.9 Trillion in 2018 up from almost $1.8 Trillion in 2017. Year to date through May, 2019 there was approximately $800 Billion in transaction value. 2018 Middle-market M&A volume in the U.S. hit $427.9 Billion up from $372.7 Billion in 2017.
Valuations are experiencing record levels as well. U.S. private equity backed buyouts were executed at an average EBITDA multiple of 11.6x in 2018, down a bit from the 11.9x multiple in 2017, but still above the average post-financial crisis multiple of 9.9x (2010 – 2016).
- Private capital dry powder is approximately $2 Trillion;
- Private debt funds (non-bank, private lenders) have over $300 Billion of dry powder; and,
- Corporate America is holding almost $1.7 Trillion of cash.
Working with middle-market companies, our investment banking teams at Evergreen Advisors Capital are consistently interfacing with private equity and strategic buyers and our activity levels and outcomes are reinforcing the statistics and anecdotal evidence – It is a great time to be a seller. Across several industries such as business services, software, healthcare, cyber, government contractors, and diversified industrials, we are seeing strong, consistent interest in our sell-side mandates from both financial and strategic buyers. That being said, it is not a one size fits all market. To ensure success and best manage time and resources, entrepreneurs considering liquidity alternatives need to access and evaluate the appropriate audiences for their particular fact pattern.
Scale continues to be a factor in generating interest from strategic buyers. During more than one sell-side engagement, we have seen potential strategic buyers show initial interest in a target only to back away when a higher priority (i.e. larger target) opportunity became available. Even though we found other buyers, the message has been clear that corporate America’s human resources are constrained when it comes to M&A causing transaction timelines to stretch a bit. We have been successful in guiding middle-market companies that may be sub-scale to larger strategic buyers, in generating interest from smaller strategic buyers that are backed by private equity. In almost all of these PE-backed strategic transactions, we encountered a counterparty that was able to act quickly and decisively, generating a great outcome for our client. [Read more…]
2019 continues to be another robust year for cyber M&A transactions. The first half of 2019, M&A deal volume is up 31% over the first half of 2018.¹ We all remember last’s years IPO of locally based Tenable Software and the activity continues with this month’s debut of software maker, Crowdstrike Holdings, a cloud-native endpoint protection platform built to stop breaches, going public with a valuation of $6.6 billion, raising $612 million in their debut.
Locally, BlueRidge AI, Fulton MD just received a $1.9 investment from Datatribe. BlueRidge is integrating Internet of Things (IoT), machine learning (ML), and predictive analytics to help the industrial and manufacturing sector target electric motor failure modes, providing manufacturers with the ability to schedule prescriptive maintenance and minimize downtime. Datatribe announced this year it raised $50 million for fund two to invest in an additional 12 companies. Inner Loop Capital announced in June that they raised $2.6 million to invest in early-stage cybersecurity and enterprise technology companies in the region. The fund aims to make approximately eight seed-stage investments over eighteen months, with typical initial investments of $300-400k.
Evergreen Capital is working on several projects in this space and seeing some key trends including:
Security Threats continue to grow, along with the volume, variety, velocity, and data. The Digital Expansion includes IOT and Critical Infrastructure. [Read more…]
Kathy Warden was born and grew up in the small town of Smithsburg, Maryland. She graduated from James Madison University in 1992 and in the early part of her career she worked for GE, Verizon, and General Dynamics. She joined Northrop Grumman in 2008 as Vice President and General Manager of the Cybersecurity division. In 2016 Kathy became President of the Mission Systems Test Sector, COO of the Corporation in 2017, and this past January 1st was named Chief Executive Officer.
Recently I met with Kathy at Northrup Grumman’s headquarters in Falls Church, Virginia. We discussed a wide range of topics, but what stood out as I reflected on our conversation, was her thoughtfulness and passion for people and mission. Enjoy!
Chairman, Evergreen Advisors
Interview with Kathy Warden
Small Town Girl
MG: You went to school in Smithsburg, a town of 3,000. It keeps being named the safest city in Maryland. What’s the secret?
KW: There’s only 3,000 people, and they all know one another.
MG: From a small town to CEO of Northrop Grumman: Is there some part of you that was shaped by that experience in terms of character and values? Have you ever thought about that?
KW: I have actually thought about that quite a bit. I’m still just that small town girl. I think values and character are very much shaped in those early stages of one’s life. Being in an environment that was so small, where people knew one another and trusted each other and understood their character based on what they did, not just what they said – that shapes you as you become older. You realize how important character is to building relationships with people.
MG: In high school, were you part of clubs and organizations?
KW: Interestingly, when I was in high school, I was involved, but also looking at what was next. I finished high school by going to the local junior college to get some college credits in my senior year. I interned in a law firm, trying to get exposed to new things. That really helped to shape my thinking about what I was going to study in college. Then I abandoned all of that when I got to James Madison and switched majors. I decided to go in a completely different direction, switching from pre-law into computer systems.
MG: Tell me about your family.
KW: I come from a very humble background, with my parents working traditional blue collar jobs. They taught me the value of setting goals and working hard to achieve them. [Read more…]
Evergreen Advisors Capital, a middle market Investment Bank is pleased to announce that it has been named a 2019 Moxie Award finalist. The Moxie Award program honors the accomplishments and achievements of growing businesses, nonprofits, and associations in the DC metro community. Organizations are recognized for having demonstrated boldness and innovation as an integral part of their growth strategy.
“I want to congratulate our team for being nominated as a Finalist for the 2019 Moxie Award enabling us to be recognized among the boldest and most innovative organizations in the D.C. metro community” Rick Kohr, Chief Executive Officer said. Our team has a proven track record in providing innovative and strategic solutions to meet our clients’ evolving business needs and implementing winning strategies for our clients.”
Finalists were recently announced by Sarah Cody, the 2019 Moxie Award executive chairwoman. “We received an unprecedented number of entries,” Cody said. “We look forward to revealing the winners at the 2019 Moxie Award celebration on Nov. 5, 2019, at The Ritz-Carlton in Tysons Corner.” [Read more…]
Attila Security is the leader in portable IP security. Their award-winning GoSilent technology was originally developed at NSA designed to protect government and enterprises from advanced cyber attacks, zero-day threats, and data theft. Built for the cloud world where traditional network perimeters have disappeared, GoSilent helps global enterprises protect their most precious asset— DATA —wherever it resides. By providing visibility, control and threat defense across physical, virtual, and cloud applications, Attila protects connected devices from the tidal wave of cyber activity estimated to cost the global economy more than $400 billion annually. Their people, products, and partners are committed to protecting the nation state.
For this feature, we interviewed Gregg Smith, a cyber industry veteran who previously led several cybersecurity companies including OptioLabs and Silent Circle on how they got their name and how they have been so successful at having their technology adopted. [Read more…]
Although ESOPs are complex, highly regulated, and expensive to administrate, they can offer owners a tax-advantaged way to obtain liquidity. The following are characteristics that may indicate your company is a good candidate for an ESOP:
- Consistent Earnings and Cash Flow – When a company sells to an ESOP, owners will typically finance the transaction with debt due to the unique tax advantages associated with ESOP debt. However, annual debt service can be a significant drain on an ESOP company’s annual cash flow. Therefore, to ensure the long-term feasibility and success of the ESOP, it is critical that the company not only be able to meet its debt obligations, but also have enough cash flow to fund future capital expenditures and working capital. Companies with high-profit margins and consistent revenue streams generally make good ESOP companies.
- Adequate Size and Employee Base – Statutory requirements limit the amount of stock benefits that can be concentrated among shareholders. Additionally, annual ESOP contributions are limited based on participants salary. Therefore, a company with a large employee base is a better candidate for an ESOP than a company with a small employee base. A good mix of “seasoned” and junior level employees is also helpful to smooth out the Company’s repurchase obligation as participants retire.
- Strong Entrepreneurial Culture – Companies that have a strong entrepreneurial culture are usually good ESOP candidates. Employees that understand the connection between their jobs, the company’s profit, and ultimate value will be incentivized to increase that value as they become owners.
- Desire for Partial Sale – One advantage of selling to an ESOP versus sale to a third party is the option of a partial sale. In most cases, strategic buyers and private equity firms are only interested in buying a controlling interest. This is because these types of buyers want to influence the business operations to enhance their return on investment. In the case of an ESOP, partial sales of at least 30% are allowed. Owners may prefer a partial sale initially to retain control, continue legacy operations, and keep leverage levels reasonable. The remaining interest can be sold gradually, over time depending on the cash flow of the business. This structure offers a level of flexibility many owners are attracted to.
Evergreen Advisors, a middle market Investment Bank and Corporate Advisory Firm, with offices in both Columbia, MD and McLean, VA, is pleased to announce the addition of Todd Nelson, Director Business Valuation.
“We are delighted to welcome Todd to Evergreen Advisors. Todd has a unique blend of business valuation, consulting and litigation experience and is highly respected as an expert within the business valuation community. Todd’s background fits very well with Evergreen’s platform as we look to expand and grow the valuation practice in the Washington/Northern Virginia area.” stated Pat Lowry, Managing Director of Evergreen’s Business Valuation Practice.
Most Recently, Todd was a Senior Director at Cortland Valuation Group, Inc. Prior to joining Cortland, Inc., his consulting expertise was honed from specialized practices at Econ One Research, Inc., Willamette Management Associates, and Dispute Analytics LLC. Todd’s experience also includes over nine years in the Financial Advisory Services practice at PriceWaterhouseCoopers. He also currently serves as co-chair of the Business Valuation Committee of the Washington D.C. Chapter of the American Society of Appraisers.
After four incredible years serving the Hogan administration, I made the difficult decision to return to the private sector. I left with my head held high for all that our great state was able to accomplish during my time as Maryland’s first Secretary of Commerce. The past four years were filled with plenty of challenges following Gov. Hogan’s spectacular rise to office. Click here to read more at the Baltimore Business Journal.
Tuesday June 11th, 2019
6-7 pm on 1300 WJZ-AM
AHA! Business Radio provides information to help you run your business and guide your decision making. The more you know the better decisions you make. This show is produced by Allan Hirsh Advisors. Allan T. Hirsh III, Executive Leadership Advisor, is an experienced business owner, CEO, entrepreneur and a community leader with a passion for strengthening and growing organizations and developing leaders.
Listen live each Tuesday from 6PM – 7PM on CBS 1300 WJZ-AM. You can also listen to previous shows and view show videos by clicking here
Evergreen Advisors Capital is pleased to announce the publication of our Q1 2019 Digital Health Market Update. The update provides industry and insights on notable transactions, a detailed look at M&A and private placement activity, and data on valuation metrics and stock price performance.
Read More or Download here:
Join Evergreen Advisors and thousands of other industry professionals at the RSA Conference 2019 in San Francisco, California. The conference will be held at the Moscone Center and will take place March 4th -8th 2019.
Top information security professionals and business leaders will discuss emerging cybersecurity trends and formulate best strategies for tackling current and future threats. At this year’s event, attendees will have access to more than 500 exhibitors, more than 400 expert-led sessions, and invaluable networking opportunities to learn more about new approaches to info security discover the latest technology and interact with top security leaders and pioneers.About Evergreen Advisors
Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Global Technology Associates, LLC (“GTA”) has been acquired by Kelly Services (“Kelly”). Evergreen Advisors Capital acted as the exclusive financial advisor to GTA. Lacki & Company, LLC provided legal advice to GTA.
GTA is a leading provider of high-value engineering, technology, and business consulting services to the telecommunications industry – assisting clients with maximizing infrastructure potential and evolving networks and services to address market opportunities. Bridging the gap between business and technology, GTA provides a wide range of services tailored to address client needs across the telecommunications value chain – from the network edge to the network core, and the enabling technologies being developed and deployed to deliver next-generation services.
“We explored several strategic alternatives to address our future growth opportunities. Kelly’s brand recognition and size support GTA’s growth objectives,” said Farzad Ghassemi, Executive Chairman of GTA, “The partnership with Kelly is a great outcome for our employees and clients. ”
The Cybersecurity Association of Maryland Inc (CAMI) has elected its 2019 Executive Committee and Board of Directors with Gina Abate, President & CEO of woman-owned, Elkridge-based Edwards Performance Solutions, serving a second term as Chairperson. The 2019 slate of officers are as follows: [Read more…]
Evergreen Advisors, LLC is pleased to announce that Shelley Lombardo, Chief Operating Officer, has been elected to the board of the Cyber Association of Maryland (CAMI). CAMI was established in 2015 to generate sales and jobs through Maryland’s cybersecurity industry. CAMI is Maryland’s only organization dedicated 100% to the growth of Maryland’s cybersecurity industry. [Read more…]
Cybersecurity is a constantly evolving subject matter for businesses. Like the computer viruses that are generally associated with the term, the issue itself has proven infectious for corporations both in its reach and impact as it grows over time.
Many organizations have learned the hard way that it is also a very costly subject matter. A study produced by IBM and the Ponemon Institute suggests that the average cost of fixing or resolving a data breach is more than $3.86 million. That number is only expected to grow. [Read more…]
Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Dunbar Cybersecurity (“Dunbar”) has been acquired by ControlScan. Evergreen Advisors Capital acted as the exclusive financial advisor to Dunbar.
Founded in 2012, Dunbar Cybersecurity offers tailored solutions to enable the safety and enhanced protection of client networks, cloud infrastructure, and end users. The acquisitions includes their well-established Security Operations Center (SOC) and powerful SIEM platform, Cyphon. The Cyphon platform streamlines incident management through a single platform. It receives, processes and triages events to provide an all-encompassing solution for analytic workflow — aggregating data, bundling and prioritizing alerts, and empowering analysts to investigate and document incidents. These advanced capabilities add to the best-in-class service ControlScan delivers to their mid-level enterprise clients. [Read more…]
Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Chesapeake Electrical Systems, Inc. (“Chesapeake”) has been acquired by Aldridge Electric (“Aldridge”). Evergreen Advisors Capital acted as the exclusive financial advisor to Chesapeake.
Chesapeake provides the full range of electrical contracting services to a wide variety of clients in the commercial and industrial sectors. Founded in 1993, Chesapeake has completed contracts on some of the region’s most recognizable landmarks, including Dulles and Reagan International Airports, the Raven’s M&T Bank Stadium, D.C.’s Walter E. Washington Convention Center, and the Washington Beltway Express Lanes. [Read more…]
Evergreen Advisors, LLC is pleased to announce that industry leader and financial services veteran Sam DiPaola will be joining the firm as president. DiPaola recently departed his position as SunTrust Bank’s Maryland market president.
DiPaola brings more than twenty years of experience working in financial services, corporate development, and strategic sales to Evergreen. He excelled in SunTrust Bank’s Investment Banking, Aerospace, Defense and Government Services sector for 7 years before becoming the bank’s Maryland market president in 2013. Throughout his career, he has successfully closed investment banking transactions ranging between $50 million and $1 billion. During his time as Maryland market president, he led his team to produce four consecutive years of growth, and while increasing the average transaction size and asset quality.
Evergreen Advisors is a middle market investment bank and corporate advisory firm focused on excellence in servicing and supporting organizations throughout their financial life cycles to drive successful outcomes. DiPaola’s extensive network of professional relationships, comprehensive sector knowledge, and deal experience will help to accelerate Evergreen’s burgeoning growth.
For DiPaola, it was Evergreen’s community involvement, focus on long-term relationships, and proven track record of sustainable growth that attracted him to the firm. The local community is of the utmost importance to DiPaola, and Evergreen Advisors is deeply rooted in it, with involvement in organizations such as the Economic Alliance of Greater Baltimore, ETC (Emerging Technology Centers), Howard County Economic Development Authority, University of Maryland System, bwtech@UMBC, and the Salvation Army. [Read more…]