What We're Reading About the CARES Act

President Trump just signed the $2 Trillion CARES Act into law, and everyone's inboxes are being flooded with emails reacting to it and explaining it's provisions. Rather than attempt more of the same, we'd like to share what we've found to be some of the most informative resources:

The briefest - Creative Planning's take on Implications for Small Business Owners.

Slightly longer - The National Law Review's piece titled Small Business Relief in the CARES Act.

The most detailed - Barnes & Thornburg wrote a lengthy but excellent article titled Specifics of CARES Act and Implications for Businesses and Individuals.

These are just some of a number of well-written pieces. We will, however, provide our advice.

If you think you qualify for any of the SBA loans being made available, start preparing to apply. Calculate your monthly payroll, health insurance, rent/mortgage, and utilities expenses, and gather any supporting evidence you have of these expenses. Prepare to also provide recent tax returns and other financial statements, for both the business and yourself personally.

Banks aren't accepting applications yet, and it may be up to two weeks before they can. You, however, can begin contacting banks now, building relationships with key decision-makers and educating yourself on the process and your likely eligibility.

If you would like some guidance specific to your business or industry, give us a call. We're happy to share our perspective on the CARES Act and the market more generally.

Lastly, we are offering a limited number of pro bono hours to help businesses with cash flow modeling and decision-making around the types of financing available. We can also lead capital raising efforts for business owners unable to manage them on their own. Reach out to your Caber Hill contact or email us at This email address is being protected from spambots. You need JavaScript enabled to view it. to learn more.

Your Business in Survival Mode - How Caber Hill Can Help

These are unexpected and unprecedented times. We have so many friends whose companies are completely shut down for the foreseeable future, employees furloughed, and worried about where cash shortfalls will be made up. All of us are faced with tough decisions and big challenges in the weeks and months ahead.  The more we can all help each other, the better.  Taking care of yourself, your families, friends, neighbors, and communities is more important than anything at this moment.  That is priority number one and we are trying to help in every way we are able.

Unfortunately, the Covid-19 pandemic has altered the M&A landscape as well. Some transactions are still closing but the majority are on hold as buyers take a wait-and-see approach. Lenders are focusing on their existing books of business and deprioritizing new opportunities. There are some immediate actions you can take:

  • If you have an outstanding business loan, call your relationship manager now and ask for help. Many will.
  • If you have a line of credit, pull down the entire outstanding amount. Guarantee that you have access to the cash regardless of whether or not you'll need it.
  • The SBA is also providing disaster relief loans of up to $2 million per business. Read about that here.
  • New government programs are being introduced daily, both nationally and locally. Consult your advisors to determine which are best for you.

 In addition to our traditional deals, we help clients navigate tough times in many ways, including:

We are also constantly communicating market activity and the current sentiment among capital providers. If we can help in any way, by our services, our guidance, or simply our perspective, please give one of us a call.

Eventually, we will reach the end of this crisis and return to normal. M&A activity will rebound. Private equity firms are still sitting on record levels of cash that they need to deploy, and the investors and companies that believe acquisitions are core to their growth strategies will need the acquisition engines running on all cylinders once things return to normal. If your near-term plans called for selling your business, rest assured that you will still be able to, likely as soon as later this year. If you are in growth mode, ensure that you can weather this storm and position yourself to be even stronger once we reach a recovery.

We wish you the best in these challenging times.

Sincerely,

The Caber Hill Team

Financial Support in Tough Times

In response to the Covid-19 pandemic and the resulting financial distress on numerous small and middle marketing companies, we are adjusting our service lines to support clients where they most need our help. In addition to our traditional services, we are offering the following:

Debt Restructuring & Re-Financing

You may be able to consolidate multiple loans into one, reduce your interest rate, extend payment terms, increase the amount of financing available to you – or all of the above. We can assess your options and arrange for new or restructured debt by creating an offering memorandum and making the market for lenders to bid on your business.

Short-Term Financing

Several short-term financing options exist, including factoring (the sale of accounts receivable or purchase orders) and bridge loans (short-term loans designed to be refinanced in under 12 months). These loans inject liquidity into a business to provide for short-term cash needs.  We can evaluate your business, recommend options, create a presentation for lenders, and make the market for lenders to bid on your business.

Cash Management & Budgeting

Cash flow is the biggest concern when business slows or is forced closed altogether. You need to make quick decisions about your team - can you keep making payroll or will you announce a furlough? You need to triage monthly bills, separating essential and non-essential vendors. You may need to alter your full-long forecast and communicate any changes to lenders or investors. We can help you budget for these turbulent times and provide an objective perspective on your tough decisions. We can also aid you in creating new forecasts and developing any lender and shareholder presentations so you can spend your time on more critical tasks.

Sell-Side Readiness

If you originally planned to sell your business in 2020 or 2021, now is the time to double down on your sale preparation efforts. We typically work with our clients for months, and in some cases years, to improve their companies and their ability to receive maximum value in a sale. Our guidance generally revolves around financial reporting, business analytics, organizational structure, and capital structure. These areas become increasingly important when you’re preparing to emerge from a crisis in sell-mode.

Caber Hill Advises on Alpaca Audiology's Merger with Belsono Management Group

September 4, 2019

For Immediate Release

Caber Hill Advisors announced today that it advised Alpaca Audiology on its merger with Belsono Management Group, LLC and its clinic groups Hearing Health USA, LLC, and Ideal Practice Management Group, LLC. Thompson Street Capital Partners, a private equity group located in St. Louis, Missouri funded the transaction. The terms were not disclosed.  

Belsono was founded by Amir Hadar and Jonathan Weizman and is headquartered in Mountain Lakes, NJ. The merged Alpaca and Belsono organization owns and operates clinic locations in the eastern half of the United States and is the largest independent network in the country. 

Read more...

Happy Holidays! Thanks for Making 2019 Great!

We at Caber Hill would like to thank all of our clients, business partners, and friends for helping us make 2019 our best year ever. Here are some of our highlights:

- Closing nearly $200M worth of transactions (read about all publicly announced deals here)

- Welcoming William George and Kurt Harvey to our team.

- Actively supporting our community and and over 20 charitable organizations, including those featured below:

We're looking forward to working with you again in 2020 and wish you a healthy and prosperous new year!

Caber Hill Supports the Merger between Cornerstone Dental Partners and Ponzio Dental

October 3, 2019

For Immediate Release

Caber Hill Advisors announced today that it supported the merger between Cornerstone Dental Partners and Ponzio Dental. Following the transaction, Dr. Anthony Ponzio, sole owner of Ponzio Dental, joined Cornerstone as a partner. 

Cornerstone Dental Partners was founded by Dr. Mark Zieba and Jon Gregoire in 2018 as a Dental Support Organization​ that is committed to providing the highest quality of care and service to patients of all ages. Through the clinical and administrative support that it provides for its offices and doctors, its locations can focus on what is important, the patient. With the addition of Ponzio Dental, the group now has 7 offices in the greater Chicagoland area.

Caber Hill provided valuation and strategic guidance on the merger. The merger closed in Q2 2019 and specific terms were not disclosed.

About Caber Hill

Caber Hill Advisors is committed to working with business owners and CEO's to successfully fulfill their personal and professional legacies. We serve small and middle market companies, in very specific verticals, who want to either sell a business or make an acquisition.

Caber Hill Advises Northwestern Dental Group on Acquisition

August 29. 2019

For Immediate Release

Caber Hill Advisors announced today that it advised Northwestern Dental Group (NWDG) on its acquisition of Robert E. Galliani, D.D.S. & Associates, in the process creating the newly formed Galliani, Mulvaney and Associates. The acquisition brings NWDG's office count to seven, all in the north and northwest suburbs of Chicago. The transaction closed in Q1, 2019, and specific terms were not disclosed.

Caber Hill supported the transaction by providing financial modeling, valuation, deal structuring, and due diligence advice to the NWDG team. Caber Hill's CEO, Craig Castelli, led the transaction.

About Caber Hill Advisors

Caber Hill Advisors is committed to working with business owners and CEO's to successfully fulfill their personal and professional legacies. We serve small and middle market companies, in very specific verticals, who want to either sell a business or make an acquisition.