We're passionate about discovering and partnering with technology companies to help them exceed their lifelong goals.
"What a ride. There were literally countless of times when I thought back to a few months ago when we were discussing if it's even necessary to work with an advisor and thinking how grateful I am to have you on board. Having gone through all of this now I can't believe the option was even on the table. Fred and the team got us to a signed deal on what I'd say are excellent terms. Thank you for that, I don't think we would have landed here otherwise."
"KeyedIn was in its eleventh year, growing quickly, and exceeding key double-digit million revenue milestones and we knew the time was right to find a partner to help us get to triple-digit revenue. We have been working with AGC on multiple opportunities. After many discoveries, opportunities, and economic ebbs and flows, we launched a targeted process and identified STG Group / Sciforma as the right partner to help drive long term value and growth. AGC helped us navigate the complexities of the deal with Sciforma, a product carve-out, and ultimately closing on a premium merger of two very strong PPM solutions. The entire team worked tirelessly to make it happen and were a pleasure to work with. Thank you to Hugh, Charlie, Logan, and Pierce for pulling all of this together. Up and to the right!"
"We chose AGC due to their depth of knowledge in our space as well as the solid reputation for delivering results! We built a strong relationship with senior leadership and their team quickly and they were there to guide us and advise us every step of the way. Their attention to every aspect of the transaction and being able to view and explain the process from a 360 degree perspective was important to us as well as operating with integrity. We could have not picked a better partner to go through this process with us."
"The AGC team surpassed expectations at every stage of the process. They didn't just grasp our business and markets, they truly got it, and were instrumental in delivering a result that the founders and management are proud of. With their round-the-clock dedication, creative thinking, and unwavering persistence, they kept the ball rolling and ensured seamless communication throughout. I would strongly recommend AGC as a financial advisor."
"AGC's ability to jump into our turnaround story and introduce us to the right partners was amazing. Their team was smart, creative, responsive and dedicated throughout both the equity and debt fund raising processes. We highly recommend AGC and look forward to working with them again in the future."
"For many closely-held business owners, the sale of their company or a large capital round is one of the biggest decisions we will ever make. Choosing the right advisor to assist in this process is critical to achieving the best value, terms and overall outcome. When I think about my experience with AGC, I can say selecting them without question was the best decision I made in the entire process. They became part of my team and worked harder than anyone I had ever seen. While in the end we signed the perfect deal, the process alone with AGC has been one of the most valuable investments of time for my company and me personally."
"The AGC team with Jon and Doug at the helm was instrumental in structuring and executing the LiquidFrameworks process which ultimately resulted in a transaction with ServiceMax and a planned public market listing of the combined companies. This outcome of the process they led can only be described as outstanding. Their knowledge, expertise and perspective in matters involving finance and deal negotiation as well as timely specifics related to our SaaS industry provided critical guidance and advice used throughout the process."
"Our business had gone through a period oftremendous growth and was in a space seeing consolidation that resulted in ourneed for an investment banking partner that was well connected to both growthinvestors and strategic partners. AGC did an outstanding job of learning ourbusiness model and translating that into a compelling business case. Theyworked tirelessly to help get a great deal and we look forward to working withthe team again! Thanks so much to all of the team. Your calm and patientapproach won the day, even during some difficult times."
We thoroughly appreciated and enjoyed working with Sean and the AGC team. They were supportive and expert partners day in and day out. They made managing three time zones a non-issue for us by always being available. Thanks to AGC we had a competitive process and realized the best outcome for our shareholders and team. We can recommend AGC without hesitation!
"To us, it was essential that our banker could fundamentally understand the Promon technology and offering. The AGC team quickly gained such understanding. By doing so, they could 'connect the dots' very rapidly; providing us with deep insight into which partnerships would long-term create the greatest return for all parties. On top of that, they don't forget the small details, which ultimately will lead to a timely and satisfactory transaction. We can give AGC our strongest recommendations as an M&A advisor in the IT security industry."
"Throughout the process, I have been glad we had the counsel and support of the AGC team. They quickly establish trust and confidence with the Board who relied heavily on their advice and experience. Their capacity to shape the presentation and willingness to be clear and forthright when we needed to be challenged was incredibly helpful. Now that the transaction is closed I'm going to miss working with this amazing team. If I had to do it all over again, I'd do it with AGC Partners."
"Sean and the AGC team differentiated themselves through their unrelenting commitment to Bookboon and deep understanding of our platform. I personally spent most of my professional career building Bookboon into a global leader and I needed an advisor that I could trust with this critical transaction process. The whole AGC team worked tirelessly throughout every stage of the process, ensuring Bookboon found an outstanding new home and partner in the Access Group. We give Sean and AGC our highest recommendation as a technology M&A advisor."
"What a ride. There were literally countless of times when I thought back to a few months ago when we were discussing if it's even necessary to work with an advisor and thinking how grateful I am to have you on board. Having gone through all of this now I can't believe the option was even on the table. Fred and the team got us to a signed deal on what I'd say are excellent terms. Thank you for that, I don't think we would have landed here otherwise."
"KeyedIn was in its eleventh year, growing quickly, and exceeding key double-digit million revenue milestones and we knew the time was right to find a partner to help us get to triple-digit revenue. We have been working with AGC on multiple opportunities. After many discoveries, opportunities, and economic ebbs and flows, we launched a targeted process and identified STG Group / Sciforma as the right partner to help drive long term value and growth. AGC helped us navigate the complexities of the deal with Sciforma, a product carve-out, and ultimately closing on a premium merger of two very strong PPM solutions. The entire team worked tirelessly to make it happen and were a pleasure to work with. Thank you to Hugh, Charlie, Logan, and Pierce for pulling all of this together. Up and to the right!"
"We chose AGC due to their depth of knowledge in our space as well as the solid reputation for delivering results! We built a strong relationship with senior leadership and their team quickly and they were there to guide us and advise us every step of the way. Their attention to every aspect of the transaction and being able to view and explain the process from a 360 degree perspective was important to us as well as operating with integrity. We could have not picked a better partner to go through this process with us."
"The AGC team surpassed expectations at every stage of the process. They didn't just grasp our business and markets, they truly got it, and were instrumental in delivering a result that the founders and management are proud of. With their round-the-clock dedication, creative thinking, and unwavering persistence, they kept the ball rolling and ensured seamless communication throughout. I would strongly recommend AGC as a financial advisor."
"AGC's ability to jump into our turnaround story and introduce us to the right partners was amazing. Their team was smart, creative, responsive and dedicated throughout both the equity and debt fund raising processes. We highly recommend AGC and look forward to working with them again in the future."
"For many closely-held business owners, the sale of their company or a large capital round is one of the biggest decisions we will ever make. Choosing the right advisor to assist in this process is critical to achieving the best value, terms and overall outcome. When I think about my experience with AGC, I can say selecting them without question was the best decision I made in the entire process. They became part of my team and worked harder than anyone I had ever seen. While in the end we signed the perfect deal, the process alone with AGC has been one of the most valuable investments of time for my company and me personally."
"The AGC team with Jon and Doug at the helm was instrumental in structuring and executing the LiquidFrameworks process which ultimately resulted in a transaction with ServiceMax and a planned public market listing of the combined companies. This outcome of the process they led can only be described as outstanding. Their knowledge, expertise and perspective in matters involving finance and deal negotiation as well as timely specifics related to our SaaS industry provided critical guidance and advice used throughout the process."
"Our business had gone through a period oftremendous growth and was in a space seeing consolidation that resulted in ourneed for an investment banking partner that was well connected to both growthinvestors and strategic partners. AGC did an outstanding job of learning ourbusiness model and translating that into a compelling business case. Theyworked tirelessly to help get a great deal and we look forward to working withthe team again! Thanks so much to all of the team. Your calm and patientapproach won the day, even during some difficult times."
We thoroughly appreciated and enjoyed working with Sean and the AGC team. They were supportive and expert partners day in and day out. They made managing three time zones a non-issue for us by always being available. Thanks to AGC we had a competitive process and realized the best outcome for our shareholders and team. We can recommend AGC without hesitation!
"To us, it was essential that our banker could fundamentally understand the Promon technology and offering. The AGC team quickly gained such understanding. By doing so, they could 'connect the dots' very rapidly; providing us with deep insight into which partnerships would long-term create the greatest return for all parties. On top of that, they don't forget the small details, which ultimately will lead to a timely and satisfactory transaction. We can give AGC our strongest recommendations as an M&A advisor in the IT security industry."
"Throughout the process, I have been glad we had the counsel and support of the AGC team. They quickly establish trust and confidence with the Board who relied heavily on their advice and experience. Their capacity to shape the presentation and willingness to be clear and forthright when we needed to be challenged was incredibly helpful. Now that the transaction is closed I'm going to miss working with this amazing team. If I had to do it all over again, I'd do it with AGC Partners."
"Sean and the AGC team differentiated themselves through their unrelenting commitment to Bookboon and deep understanding of our platform. I personally spent most of my professional career building Bookboon into a global leader and I needed an advisor that I could trust with this critical transaction process. The whole AGC team worked tirelessly throughout every stage of the process, ensuring Bookboon found an outstanding new home and partner in the Access Group. We give Sean and AGC our highest recommendation as a technology M&A advisor."
These reports cover the key trends and challenges in the market and include a listing of recent M&A, private placement, and IPO activity.
We are pleased to share with you our latest thoughts on the travel and hospitality tech market. As we move into Q2 '24, the vertical is on its best-ever footing. Travel spending is poised to surpass pre-pandemic levels in '24, share prices for most public operators are at all-time highs, and travel and hospitality tech shares are within a hairsbreadth of record territory with multiples up ~40% vs. pre-COVID. What's more, key areas still have not fully bounced back (e.g. cross-border travel, GDP weighted spend) suggesting that there is still room for above-trend growth.
In our Q4 '23 report, we predicted that any easing in financial conditions would spur an acceleration in deal making. 3 months into '24, the cost of high yield debt has come in modestly and issuance is up ~3x YoY. This has helped spur a sharp acceleration in M&A – deal counts are up +30% (run-rate vs. '23), deal values are up +40%, and the size of companies trading hands is up +58% (based on headcount).
At the heart of the recent acceleration in deal activity is a cohort of great companies that have outgrown their existing sponsors, but are still too small to go public or get bought by one of the mega public strategics who are for the most part only writing $1B+ checks. In recent weeks, several of the larger platforms in the space have announced $100M+ financings and / or kicked off recap processes with others quietly raising without announcing it publicly. These companies stuck in the middle will be the critical driver of M&A activity over the next 24+ months as they look to bulk up.
Just recently, we announced the sale of the leading provider of hospitality network management software, Nomadix, to ASSA ABLOY. This marks AGC's 3rd travel and hospitality tech deal in just over 6 months and our 13th over the last few years. Based on our recent deal activity, the companies we expect to bring to market soon, and the acceleration in deal activity so far this year, we are doubling down on our prediction that the next 2 years will be a record period for travel and hospitality tech deal making.
AGC runs six industry conferences each year in the US, Canada & Europe, providing one-on-one meetings between strategic tech acquirers, investors, and emerging growth companies.