The handbook of financing growth : strategies, capital structure, and M&A transactions

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書誌事項

The handbook of financing growth : strategies, capital structure, and M&A transactions

Kenneth H. Marks ... [et al.]

J. Wiley, c2009

2nd ed

  • : cloth

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注記

"Wiley finance"--Jacket

Includes bibliographical references and index

内容説明・目次

内容説明

The Second Edition of The Handbook of Financing Growth has been designed to help leaders and advisors gain a solid understanding of the financing strategies, sources, and transactions that will allow them to excel in such an unpredictable environment. Written by an experienced group of practitioners who operate within this dynamic market and fully updated to reflect new market realities this reliable resource outlines the full spectrum of funding alternatives currently available to emerging growth and middle-market companies and presents the practical strategies and techniques you need to be aware of when considering the capitalization, growth, or sale of your, or your client's, company. New material found in this Second Edition includes detailed discussions of positioning a business for value creation before the transaction and how your financing strategy fits into the overall plan for growing and raising capital as well as creating an exit. Among various techniques, the authors address buyouts and recapitalizations as two alternatives to create shareholder liquidity and potentially finance future growth. A new chapter on M&A addresses the acquisition process and how to fund acquisitions and external growth initiatives, while additional case studies highlight bank financing alternatives and growth equity.

目次

Preface xv Acknowledgments xxi About the Authors xxiii PART I The Financing Process 1 CHAPTER 1 Introduction 3 CHAPTER 2 Planning and Alignment (Begin with the End in Mind) 7 An Overview of the Planning Process 8 Strategic Planning 10 Updated Forecast 27 Business Valuation 27 CHAPTER 3 Acquisitions, Recapitalizations, and Exits 37 Acquisitions 37 Selling the Company, Creating Shareholder Liquidity 41 CHAPTER 4 Capital Structure and Financing Strategy 45 Assimilating the Drivers 49 Developing Liability Limits 63 CHAPTER 5 Sources of Capital and What to Expect 69 Bootstrapping Sources and Techniques 72 Individual Investors (Private Placements Not from Angels or Institutions) 82 Angel Investors 83 Commercial Banks 95 Asset-Based Lenders 100 Commercial Finance Companies 115 Leasing Companies 116 Private Equity 119 Venture Capital Funds 122 Mezzanine Funds 152 Buyout Funds 157 Hedge Funds 164 Strategic or Industry Investors-Corporate Venture Capital 166 Merchant Banks 168 Community Development Initiatives and Government Agencies 169 Micro-cap Public Entities 193 Royalty Financing 196 CHAPTER 6 Equity and Debt Financings: Documentation and Regulatory Sources of Capital and What to Expect 203 Basic Definition of Debt and Equity 203 Debt Instruments 206 Loan Documentation 212 Equity Instruments 260 Equity Investment Documentation 264 Compliance with Securities Laws 292 CHAPTER 7 Expert Support-The Players and Their Roles 301 Counsel 301 Board of Directors 303 Investment Bankers 306 Accountants 312 Consultants/Advisers 315 Summary 317 CHAPTER 8 Closing the Deal 319 Process Check-In 319 Final Perspective 326 PART TWO Case Studies 329 CASE STUDY 1 Asset-Based Lender, Receivables Financing 332 CASE STUDY 2 Asset-Based Lender, High-Risk Loan 336 CASE STUDY 3 Asset-Based Lender, Assignment for Benefit of Creditors 339 CASE STUDY 4 Asset-Based Lender, Acquisition 344 CASE STUDY 5 Asset-Based Lender, Turnaround Funding 348 CASE STUDY 6 Asset-Based Lender, Growth Financing 352 CASE STUDY 7 Commercial Finance, Trade Financing 356 CASE STUDY 8 Angel Investor, Initial Funding and Sale of Company 359 CASE STUDY 9 Venture Capital, Early Stage Growth Equity 362 CASE STUDY 10 Royalty Financing 365 CASE STUDY 11 Venture Capital, Growth Equity 367 CASE STUDY 12 Community Development Finance, Growth Funding 370 CASE STUDY 13 Debt with Revenue Sharing 375 CASE STUDY 14 Mezzanine Investment 377 CASE STUDY 15 Private Equity, Acquisition through Exit 378 CASE STUDY 16 Private Equity, Management Buyout/Partner Exit 380 CASE STUDY 17 Private Equity, Restructuring 382 CASE STUDY 18 Private Equity, Acquisition with Management Participation 385 CASE STUDY 19 Private Equity, Public to Private Transaction 388 CASE STUDY 20 Private Equity, Buy-and-Build Strategy 393 PART THREE Financing Source Directory 397 Suggested Use of the Directory Section 399 APPENDIX A Corporate Finance Primer 523 APPENDIX B Financial Statements 551 APPENDIX C Discount Rates 563 APPENDIX D How Fast Can Your Company Afford to Grow? 567 APPENDIX E Notes about Start-Ups 583 APPENDIX F Accounting Principles-GAAP and IFRS 587 Glossary 591 Notes 623 Index 633

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