Q&A with Phillip Wilhite
Corporate Investment is a financial advisory firm specializing in business sales, mergers and acquisitions. The firm offers both middle market sell-side representation and business brokerage services.

What is your firm's average deal size?
Our average middle market deal size is $2 - $15 million in enterprise value and we typically close between 5 and 8 middle market transactions per year. The largest deal we have closed was in 2006 for more than $50 million.

Does your firm focus on a particular industry or sector?
We do not focus on a particular industry, but we do look for closely held, mainstream businesses with up to $50 million in sales.

What can a prospective client expect upon their first visit with your firm?
On the first visit we introduce the firm, find out about the business owner's goals and objectives, and discuss the merger & acquisition process. We offer to prepare a valuation analysis of their Company at no charge or obligation if desired.

What do you find is the most surprising for a first-time business seller?
Many first-time sellers think if they have a potential buyer lined-up, they have completed most of the work. It's often the case that the potential buyer that a seller has in mind is not the ultimate buyer of the business. What is also surprising to a first-time seller is to learn that finding a buyer is only about 25% of the work. The potential buyer must then be managed through the transaction process of making a suitable offer, negotiations, due diligence, contract negotiations and closing.

Tell us about the most difficult deal Corporate Investment has managed.
Our engagement with a large printing operation was not easy. The firm was mature and in a very competitive industry. We conducted an extensive search to find the right fit because the strategic buyer had to meet certain requirements. We had to match the operations of the two Companies, and the seller had specific financial objectives. In the end, we were able to create significant value in the transaction. Due to the strategic nature of the transaction, operational synergies, and other factors, the buyer was able to pay almost 25% more than any offer that was made! Both parties are pleased with the transaction.

Tell us about the team at Corporate Investment
The strength of Corporate Investment lies in the experience and credentials of our deal team. Larry and Phillip have both been awarded the M&AMI, which is the highest designation awarded by the industry. Two of our other agents are Certified Business Intermediaries. Not only does our firm have vast experience with middle market transactions, but as a team we have closed over 400 transactions since 1984.

Can you tell to us an industry war story?
In 2006, we handled an engagement where the seller had been approached by a NASDAQ company to buy his business. The NASDAQ company was really slow in providing a Letter of Intent (LOI) to the seller. Once the client engaged Corporate Investment's services, we found another potential buyer who made a really good offer. The fact was communicated to the NASDAQ company, and an LOI was promptly presented. In fact, it was not only presented, but the price was also increased by 15%. By having the other purchaser in the process, the NASDAQ company was motivated to pay more and to close the transaction in a timely manner. The seller received 15% more than he would have by just working with one buyer. As the old adage goes, “if you only have one buyer, you don't have a buyer, the buyer has you!"