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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. [Read more…]
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:
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.
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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…]
Evergreen Advisors is a proud sponsor of TEDCO’s 8th Annual Entrepreneur Expo & Stem Cell Symposium on October 30, 2018. The event will bring together all of Maryland’s entrepreneurial resources from across the state into one place, at one time.
You can expect to see 800+ of the region’s top entrepreneurs, small and large business executives, angel and venture capital investors, federal and state economic development officials, university leaders and legislators. Speaker include: Steve Case, Chairman and CEO of Revolution, LLC; Freeman Hrabowski, President UMBC; Julie Lenzer, Chief Innovation Officer at the University of Maryland; Cyndi Gula, Managing Partner Gula Tech Adventures; Deborah Tillet, President Emerging Tech Centers.
Evergreen Advisors is a proud sponsor of Howard County Economic Development Authority’s Annual Meeting and celebration of 25 years as an organization! The Howard County Economic Development Authority (HCEDA) is a public-private partnership whose primary goal is to promote economic growth and stability by supporting existing businesses, targeting new businesses and attracting corporate and regional headquarters. Its role, central to its mission, is to be a catalyst for economic growth and sustainability in Howard County. Quality economic development is critical to the County’s future to ensure an adequate tax base that will maintain and sustain the high quality of life that its residents have come to expect and deserve.
This year, the meeting will look at the history of Howard County’s economy, share an update on the current economy, and look at the new technologies on the horizon that will transform our future.
Alex Mathews was shocked at how much custom manufacturers would pay for the software he and business partner Param Shah developed. Thus FactoryFour was born.
, Johns Hopkins Magazine
Published Fall 2018
Alex Mathews hadn’t planned on becoming an entrepreneur—especially not while still in college. But in his junior year, Mathews met Param Shah through the Hodson Trust Scholarship Program. Shah told him about the production challenges he faced with his nonprofit, the Lotus Life Foundation, which delivers medical devices to children in remote areas of India. Mathews created a software platform that enabled Lotus Life to accurately produce orthotics and prosthetics customized for individual patients, and in 2016, Mathews and Shah founded their first business, Fusiform. They soon discovered, however, that their software could also serve the custom design-and-build needs of a range of industries, which up until now have lacked viable software for managing product specifications and performance data. In 2017, they launched the manufacturing software company FactoryFour (maintaining Fusiform as a subsidiary) with support from the Baltimore venture capital fund community, quickly growing to 16 employees with a current plan to double in size within the next year.
How did your personal and educational background prepare you for launching FactoryFour?
I did a lot of computer science work in high school, so I had a head start. My freshman year, I met Jamasen Rodriguez, A&S ’15, a fellow Hodson Scholar who was a year ahead of me. Along with some other friends, we launched Jama Cocoa, which specialized in single-origin chocolate truffles. I was the chief technology officer, developing our e-commerce platform. We didn’t make a lot of money but were successful enough to be bought out by an initial investor. That really changed my preconceived notions of entrepreneurship.
Read the rest of the article at here at Johns Hopkins Magazine
Bandura, which pioneered the Threat Intelligence Gateway (TIG) industry in part with the U.S. Department of Defense, today announced it has completed a Series A round, securing $4 million in financing led by Grotech Ventures, Gula Tech Adventures, Maryland Venture Fund, and Cultivation Capital. This strategic funding will strengthen Bandura’s position as a leader in the emerging Threat Intelligence Gateway (TIG) marketplace. The Bandura TIG™ is purpose-built to filter network traffic against large volumes of threat intelligence indicators, better protecting networks from the massive volume of known threats.
“We partner with innovative cybersecurity technology companies who are bringing fresh ideas and unconventional approaches to tackle the large and growing cybersecurity challenge”
At any moment, tens of millions of known malicious IP addresses and domains are attacking organizations. These threats are dynamic and everchanging and, while there is a significant volume of actionable threat intelligence that can be used to detect and block the threats, firewalls can manage only a very limited number of threat indicators. The result is security coverage gaps, alert fatigue, staff overload, inefficient use of expensive firewall resources, and suboptimal return on existing security investments.
“Firewalls are getting crushed by the sheer volume of threats that hit organizations industry-wide every day,” said Chris Fedde, CEO of Bandura. “And, while external threat intelligence is available,most companies lack the staff and resources to effectively and efficiently operationalize it. The Bandura TIG complements the firewall, enabling companies of all sizes to use threat intelligence without limits in an easy and automated way. We are grateful for the support of our investors and believe it is a testament to our work redefining the industry’s use of threat intelligence from reactive detection and response to proactive prevention.”
Evergreen Advisors Capital is pleased to announce that it was the exclusive financial advisor to Four V Systems LLC, an SRC Company, and cybersecurity firm in connection with its sale to OPAQ Networks.
FourV Systems, located in Baltimore, MD, is dedicated to helping organizations manage business risk aligned with IT operations. risk. OPAQ Networks is the premier network security cloud company that enables partners to deliver security-as-a-service to midsize enterprise customers. OPAQ Networks’ cloud-based platform empowers organizations to simplify security management, centralize policy enforcement, and reduce costs. Based in Northern Virginia, OPAQ is privately held and is funded by Columbia Capital, Harmony Partners, and Zero-G, Inc.
Terms of the transaction were not disclosed.
Rick Kohr, the founding member and Chief Executive Officer of Evergreen Advisors LLC, has been named Board Chair of the Economic Alliance of Greater Baltimore (EAGB).
“I am honored to succeed Augie Chiasera,” says Kohr. “We are participating in a fast-paced and ever-changing world which requires a new way of thinking and solving problems. Thanks to Augie and our Board Directors, we are confident in our ability to drive inclusive growth opportunities throughout Greater Baltimore.”
The EAGB is the only public-private organization convening industry, government, education and philanthropic leaders to foster inclusive economic development in Greater Baltimore. As part of its efforts, EAGB will continue to advocate for a more collaborative leadership model that will drive an effective and simplified approach for economic competitiveness across the region. [Read more…]
Location, location, location.
The high value-added services of a location strategy consultant are not reserved for large companies, in fact, middle size companies typically benefit most from the expertise of a location strategy consultant.
In addition to the physical real estate, companies rely on location strategy consultants to assist them with:
- optimization of supply chain
- cost minimalization
- tax structure
- return on investment
A quality location decision is not solely a real estate decision. Whether it is a headquarters, back office, distribution center, manufacturing, laboratory, call center, or data center facility there are many factors to consider before coming to a final location decision. The critical factors of a location project are uniquely tailored to the business needs of the company as it relates to such considerations as the company’s culture, existing network, customer base, workforce, supply chain, and facility type. Making a location decision without consideration to one or more of these critical factors can lead to misalignment between the facility and the community, unexpected costs, high cost operation, underperforming facility and network of facilities, high workforce turnover, and the inability to attract top talent.
Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Chesapeake Medical Staffing, LLC (“Chesapeake”) has been acquired by American Surgical Professionals (“ASP”). Evergreen Advisors Capital acted as the exclusive financial advisor to Chesapeake.
Chesapeake Medical Staffing is one of the largest and most respected health care staffing agencies in the mid-Atlantic region. CMS has focused on sourcing the highest quality health care professionals from nurses to administrative personnel to physicians to complete management of the agency process. The Company is Joint Commission certified and their client list includes hospitals, institutional care providers, management services organizations (MSO), home care and individual patients
“CMS explored numerous options to enhance our future,” said Jeff McClure co-founder and CEO of CMS. “ASP’s combination of business strengths and culture were exactly in line with our intended direction.” Terri Weller, co-founder and CNO said, “We are excited to be teaming with another high quality Joint Commission certified group of established clinicians. Helping our clients by providing experienced clinical professionals in a user-friendly manner has always been my passion. This merging of talent will take us to a new level in meeting the continuum of care needs of our current and future clients.”
Joseph Bradley of Evergreen Advisors Capital noted, “This transaction represents the combination of two outstanding organizations and management teams, with common vision, passion and purpose.”
Terms of the transaction were not disclosed.
Evergreen Advisors Capital is pleased to announce the publication of our 2018 Cybersecurity 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.
2018 has the makings for a strong year for venture capital
With a robust M&A market, liquidity in the public capital markets, corporate cash, and continuing earnings growth in many sectors, the next two years should turn in strong performance for Venture Capital. As 2017 closes, capital invested is over $44 Billion, up almost 18% from the $37 Billion invested in 2016. For the Mid-Atlantic Region, even though the area saw 1,266 deals funded year to date in 2017 down from the 1,367 deals funded in 2016, total capital invested to date in 2017 reached $9 billion which exceeds the $8.9 billion invested in 2016.
For our region, one of the highlights in 2017 was the opening of AllegisCyber, an affiliate of Allegis Capital, a Silicon Valley venture capital firm that is collocated with DataTribe in Maple Lawn, Maryland. DataTribe applies an investment element to its model, by providing seed financing of up to $1.5 million to its cohort companies. Both firms are expanding their investments into Maryland cyber companies in the coming year.
Two of the most active regional (D.C., Maryland, & Virginia) investors in Cyber overall in 2017 were NEA with 9 cyber investments including local company Zerofox and Blu Ventures who invested in local deals including ID.me, Trackoff, Huntress Labs, NS8, Bandura Systems, DarkCubed, Fischer Block, GroupSense, PFP Cybersecurity, PacketSled, and Cybrary. Gula Tech Adventures also made a number of investments in 2017 working with the next generation of cyber security start-ups assisting with their product roadmaps, participating in their capital raises and helping them build their companies. [Read more…]
Evergreen Advisors announced today that Shelley Lombardo, Chief Operating Officer of Evergreen Advisors, has completed the professional development program dedicated to building a better Maryland by harnessing the strength of its local business and community leaders. Leadership Maryland honored Lombardo, a resident of Ellicott City, and the entire Class of 2017 at its 25th annual graduation ceremony held December 5 at the Lord Baltimore Hotel.
Lombardo was one of 52 applicants chosen by committee to complete Leadership Maryland’s eight-month hands-on learning program focused on the state’s most vital social, economic and environmental issues.
“It was an honor to be a part of the Class of 2017. The program is a powerful vehicle to explore Maryland’s challenges and opportunities from healthcare, education, economic development, to the environment with a diverse group of Maryland’s best and the brightest executives.” Remarked Shelley Lombardo. [Read more…]
On September 27, 2017, the Republican led congress in conjunction with the White House released its long-awaited framework (the Framework) outlining the current legislative effort on comprehensive tax reform. Although many significant details have yet to be defined, major provisions such as a lower corporate tax rate for both C corporations and pass-through entities (S corporations, LLC’s and partnerships) will have a significant impact on the cash flow capacity and valuation of these entities.
According to the Framework, the top marginal tax rate for C corps could be reduced significantly from 35% to 20%. The pass-through entity tax rate (S corporations, LLC’s and partnerships) would be reduced to 25%, with some restrictions. Currently, income generated by such entities are taxed at the individual shareholder’s personal tax rate. If voted into law, the Trump Administration’s version of tax reform will likely have a significant impact in the following key areas: [Read more…]
Cyber security 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 in 2015 was more than $3.75 million. That number is only expected to grow.
The Effects of Cyber Security Attacks
The increasing level of connectivity has served as perhaps the predominate economic theme of the past quarter century. It has also created substantial new risk to the security of sensitive information. Moore’s Law of Computing states that overall processing power for computers will double every two years. Newton’s third law of motion states that for every action, there is an equal and opposite reaction. Combine the two theories together and you have a pretty good explanation of the future impact of cyber security on businesses. [Read more…]
Economic Alliance of Greater Baltimore is holding their 2017 Annual Meeting on December 12, 2017. The meeting will be held at M&T Bank Stadium from 4:30-8pm.
EAGB’s Annual Meeting is a celebration of the events and people that make the region a world-class place to live, work, learn and invest.
As they celebrate their 20th Anniversary, they will be taking a look back at the success and growth that the region has experienced over the last two decades, while also featuring Greater Baltimore’s future as a global leader. As we celebrate the results of longstanding partnerships that have led to Baltimore’s economic success, we look forward to celebrating the visionaries and leaders who will shape our tomorrow.
Join Evergreen and the EAGB by purchasing your tickets now.