18 corporate finance
Why diversity and personality matter for Meridian
’Seeing the difference’ is the phrase the team at Meridian Corporate Finance uses to set itself apart from the competition, yet it’s not until you meet the partners that you really understand what that means.
It’s their eclectic blend of personality, culture and industry background that sets Mike Barcia and Darren Thompson apart and it’s clearly a recipe that works as the firm boasts in excess of a 90% completion rate on deals – well above the industry average.
So what’s the secret of their success?
“We look at things differently,“ says Barcia, who set up the forerunner of Meridian in 2002 in partnership with a regional law firm. “When advising on the sale of a business or a management buyout, you have to really know your client and their market to recognise the true value of something and that’s what we are very good at.“
So good that the firm has just completed its 10th anniversary with a number of high-profile deals including two international disposals of local businesses sold to Level 3 Communications in the US and NTT Data in Japan, telecoms giants whose combined market cap totals more than $64 billion.
Now established as the largest independent CF boutique on the south coast, Meridian has a core team of eight and works predominantly with owner- managed businesses from its base just outside Southampton. Thompson and Barcia joined forces in 2003 and completed an MBO of Meridian in October 2008.
One of the key elements that differentiates the firm from other CF houses is the diverse expertise of its team. Barcia comes from a chartered accountancy and CF background and has worked in the FMCG sector, while Thompson brings a solid track record in banking, structured finance and venture capital.
The wider team also boasts a broad cross-section of industry and finance experience and although they refer to their expertise as “generalist“, Thompson says they are nationally recognised for working with businesses involved in technology, media and
www.businessmag.co.uk
“Our ethos is if we don’t think we can deliver a deal then we won’t go into it,“ said Barcia. “Our fees are aligned to our clients and tend to be orientated around an outcome, so we are effectively paid on our success rate.“
No matter where clients are based, Meridian prefers to work with local professional advisers whenever possible, and the majority of its work comes from referrals, either past clients and their contacts, or the wider business community.
Barcia says the first question they ask when someone approaches them and wants to sell their business is “why?“.
“A lot of people don’t actually want to sell, but they think it is their only option,“ he continued. “We find out why they have got to that position, what they want to achieve – for example more leisure time, free up some cash – and then we look at how we can help.
Mike Barcia (left) and Darren Thompson
“The last 36 hours have been a whirlwind. You have all made a huge difference to us, there is no doubt in my mind that without you guys we would not have achieved this conclusion. Without the talent and friendship you have all brought to us, it would not have happened – it’s been amazing – so thank you.“
Chris Boulter, managing director, Inventif RMA Holdings
telecoms, as well as the legal and insurance services sectors.
As part of its long-term ethos of helping clients, Meridian has its own early-stage growth fund and Barcia and Thompson regularly invest alongside management teams, taking non-executive director roles where they feel they can add value.
“It also makes a real difference to continue to have local lawyers working with us on secondment providing legal expertise and advice,“ said Thompson. “We’re not all accountants and our multi- disciplinary approach enables us to project manage more than just the numbers.
“Having done our own MBO means we have real empathy with management teams and, as we also take equity stakes in companies and sit as non-execs, we understand exactly what business is all about.“
Over the past decade Meridian, which works closely with private equity houses, has completed an average of over 85% of all transactions, a figure that rises to more than 90% in the past three years when the market has undeniably been tougher than ever. Since August 2009, it has delivered an impressive 29 deals between £1 million and £40m.
“It’s about building long-term relationships with the client and thinking outside the box to meet their needs, no matter how long that takes.“
Meridian’s portfolio of deals stretches not just across the UK but also to high-profile international disposals. In April 2012, Thompson was awarded Dealmaker of the Year (under £25m) at the Thames Valley and Solent Deals Awards in an award voted for by fellow finance professionals.
Details:
Mike Barcia
michael.barcia@
meridiancf.com
Darren Thompson
darren.thompson@
meridiancf.com
0844-225-8800
www.meridiancf.com
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – DECEMBER 12/JANUARY 13
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40