M&A Source Spring Conference 2024

Here we are again, cooling down from a fantastic conference, this time at the Galt House in Louisville. The business cards are almost all in the CRM, follow-up phone calls are done, and your humble author is sitting down to memorialize another conference in the books.

I came across a news article about the Kentucky Derby at Churchill Downs that occurred in our host city a week before we met. The description and photo certainly painted a picture of exhilaration and excitement as the horses nosed across the finish line. But the thrill of the third-party account must pale to the experience of being in that crowd in person on the day of the race.

I have a dilemma similar to that reporter’s. Can I fully describe the events of the conference to capture the essence of participating in person? I cannot. So, tasked with an event recap to stir a desire to attend the Fall conference in Las Vegas, I have probably already fallen short of my charge from the Communications Committee.

Nevertheless, here we go!

Out of the gate, we were challenged by a great selection of courses offered by the finest thoroughbreds in the Lower Middle Market. Pat McDonald (general M&A), Evan Ottaviano (QOE), Jim O’Sullivan (Legal issues in closing), Mike Adhikari (DCF valuation), Monty Walker (Working Capital), and Jim Afinowich (M&A auction process). They all took considerable time and effort to put together content that every advisor needs to know to be in the race. We thank them for their efforts.

Monday evening, we officially kicked off the conference with a cocktail hour. Perched 25 floors above the Ohio River, new friends were made, and old friends were cherished as we watched a talented artist recreate the moment, in canvas and paint, of the equine victory described and pictured above, which was poised to be auctioned for charity in the coming days.

Tuesday morning started with the main event. Our keynote speaker, Jeff Bloomfield, helped the audience understand how the brain processes information and makes decisions to help persuade people to make a connection with you. His approach is with narrative selling, which presents information the way the brain wants to receive it. Jeff’s three takeaways included: creating your own personal connection story, creating a “profit production” storyboard for both sides of the deal, and learning to use anchors before all inquiries at a meeting. More information is available in his book, Neuroselling.

Around the clubhouse turn was our first workshop: Roll-Over Equity Considerations in Deal Structure. Rich Jones and Kyle Madden discussed equity from the PEG side and how various deal structures can overcome specific challenges in a transaction.

Following close behind was a workshop on Reps and Warranties and Risk Mitigation in Deals. The group explained the growing use of R&W insurance, especially in smaller transactions to reduce escrow, and how that insurance takes the animosity out of a transaction. The panel encouraged discussions about R&W early in the negotiation process.

In the backstretch, Jeff Oskin gave an interactive presentation on artificial intelligence. With tools sounding like names of the top racing contenders: Grok, ElevenLabs, Synthesia, Colossyan, and more were demonstrated and explained to the M&A advisors in the room. It is clear that these tools are just the beginning of new frontiers for all of us.

Conference Chair Kathy Thiel remarked:

“Acclaimed author Jeff Bloomfield, our keynote, set the tone for our conference with a dynamic presentation, infusing it with enthusiasm that resonated for the entire two-day event. His insightful exposition on the science of building trust with prospective clients captivated us, while his exploration of decision-making processes provided practical knowledge for immediate application. The feedback was impressive —Jeff was proclaimed by many attendees as the most outstanding keynote speaker we’ve ever featured!”

Day one wrapped up with an easy stretch in the Deal Market, showcasing numerous vendors and buyers and another cocktail party that all enjoyed.

The cocktail party included an artwork auction and donation drive for Veteran’s Club, Inc, a local charity that supports veterans and first responders with connection, healing, recovery, housing assistance, and vocational training. Their vision is for a world where every veteran and first responder receives the resources they need for healing and leading healthy lives. The M&A Source will be donating $3300 to this worthy cause. Great job everyone!

Day two started with breakfast with the leadership team and committee reports. There was too much information relayed to report on in this story, but I certainly understand that Lamar Stanley and the committee chairs and members have a lot in the feed bag. I would encourage everyone who attends future conferences to join the leadership meeting for a glimpse of all that the M&A Source is doing for its members.

Special congratulations to our 2024 award winners:

Plus, all of the Diamond, Platinum, Gold, and Executive Club award winners.

Around the far turn, a workshop on M&A Practice Business Models was presented. Most members of the audience were able to relate to one of the representatives as they explained how a sole practitioner, boutique, and large firm transact business.

After the Deal Market part 2, workshops were presented on Leveraging Sale-Leasebacks and how to incorporate buy-side into your business.

Down the homestretch, Jim Afinowich led with the Alphabet Soup of M&A.

Lamar Stanley, M&A Source Chair, summed up the race with vigor:

“I can’t say how thrilled I am about the turnout and the caliber of programming and education we had in Louisville. Truly outstanding insights every day. I came away invigorated and excited about the future of the organization. Additionally, the event truly embodied the “theme” of the conference – “Harnessing Opportunity Together.” And beyond the impressive turnout and engaging programming, what truly excited me about the conference was the genuine camaraderie and fruitful connections forged among M&A advisors and deal professionals all week. It’s a testament to our organization’s collaborative spirit and shared commitment to driving success in our industry.”

Who won the roses??

You did, of course, if you attended the 2024 Spring Conference with the M&A Source. Thanks for reading. This is your announcer, Mark Travis, signing off until October 20th at Caesars Palace in Las Vegas.