Seeking Alpha

Abe Garver's  Instablog

Abe Garver
Send Message
Abe is responsible for leading M&A transactions for the fastest growing private companies in America. He holds the position of Managing Director with BG Strategic Advisors. Over the course of his career he has worked in Merrill Lynch’s M&A Technology Group, and Ernst & Young’s... More
My company:
BG Strategic Advisors
My blog:
Moving The e-Markets
View Abe Garver's Instablogs on:
  • Cambridge Capital Acquisition Corporation Announces Pricing Of IPO

    New York, NY, December 17, 2013 - Cambridge Capital Acquisition Corporation (NASDAQ: CAMBU) (the "Company") announced today that its Registration Statement on Form S-1 (SEC File No. 333-191868) was declared effective by the Securities and Exchange Commission.

    The closing of the Company's initial public offering of 7,000,000 units is expected to be consummated on or about December 23, 2013. Each unit will consist of one share of common stock and one warrant to purchase one share of common stock and will be sold at an offering price of $10.00 per unit for aggregate gross proceeds of $70,000,000.

    EarlyBirdCapital, Inc. acted as the lead managing underwriter of the initial public offering. The offering is being made only by means of a prospectus, copies of which may be obtained from EarlyBirdCapital, Inc., 275 Madison Avenue, 27th Floor, New York, NY 10016, Attn: Aimee Bloch, 212-661-0200.

    A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on December 17, 2013. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    Cambridge Capital Acquisition Corporation is a newly formed blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with one or more businesses or entities.

    The Company's efforts to identify a prospective target business will not be limited to any particular industry or geographic region, although the Company intends to focus its search for target businesses that operate in the supply chain industry, with an emphasis on target businesses that operate in the traditional transportation and logistics end of the supply chain industry.

    Forward Looking Statements

    This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company's initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    Ramon Suazo
    Cambridge Capital Acquisition Corporation

    (561) 932-1615

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Dec 17 10:05 PM | Link | Comment!
  • Abe Garver Named Head Of Global E-Commerce M&A For BG Strategic Advisors

    Palm Beach, FL (January 21, 2013) - BG Strategic Advisors, the leading M&A firm for the supply chain sector and advisor on premium sell side deals, announced that Abe Garver has been named Managing Director of Global E-Commerce Advisory.

    In addition to being an M&A advisor, Mr. Garver is a Bloomberg TV Commentator, Forbes Contributor, Seeking Alpha Contributor, Internet Retail Conference Speaker, and news source to top journalists at TechCrunch, Internet Retailer, MultiChannel Merchant, M&A Magazine, Seeking Alpha, The Los Angeles Times and MarketWatch - WSJ.

    "Abe recently published an article, TIME's Person Of The Year: Your UPS Driver, in which he called attention to the breakneck speed of growth in the Global E-Commerce Supply Chain," said Ben Gordon, Founder and Managing Partner of BG Strategic Advisors. "Abe's expertise in this issue, BGSA's leading role in the supply chain, and our combined strengths, should all provide great value to our clients," said Ben Gordon.

    Before joining BGSA, Mr. Garver worked for Focus LLC, Ernst & Young Financial Advisory Services, and Merrill Lynch's M&A Technology Group. Mr. Garver holds a Bachelor of Science in Business Administration from the University of Southern California, Marshall School of Business and a Masters in Finance, from the Manderson Graduate School.

    About BG Strategic Advisors

    BGSA is the leading M&A advisory firm focused on the logistics and supply chain industry. The firm specializes in providing CEOs in the logistics and supply chain industry with the tools to maximize their company's value. BGSA has completed several well-known supply chain deals, including the sales of NESA to Liquidity Services, Access Computer Products to Waste Management, Inc., Converge to Arrow Electronics Inc., Dixie Warehouse Services and Wilpak Inc. to Jacobson Companies, Churchill to BirdDog, Raytrans to Echo Global, Unicity to PBB, Air-Road to Reliant Equity, and many others. For more information, visit or email Abe Garver at

    Jan 21 2:05 PM | Link | Comment!
  • Inside A Private Equity Deal In The Battery Sector

    99-Year History

    Founded in 1913, Storage Battery Systems, Inc. (NYSE:SBS) has nearly a century of experience providing critical and reserve power solutions that address a range of customer applications across many industries. Supply Chain Equity Partners (OTC:SCEP), a Cleveland, Ohio based private equity firm, recently invested alongside SBS' management to help accelerate growth of an already successful growing business.

    SBS' diverse customer base ranges from a "who's who" list of Fortune 2000 companies to a wide variety of small and medium-sized companies, both public as well as privately held. A majority of the Company's revenue comes from customers it has done business with for more than 10 years.

    Trying To Sell To Family Members

    Several years back when their sister wanted to sell shares in the company for financial planning purposes, the three brothers were able to structure a transaction to cash her out. However it became clear that they wouldn't be able to do it again when the next sibling retired.

    Compelling Event: Financial Planning

    With the buyout of their sister's shares complete, and their own retirement nearing, the brothers and family members contemplated a plethora of transition scenarios.

    Each of the brothers had spent roughly 40 years working in almost every facet of the business, which their father had invested in nearly 50 years ago.

    Given the "family" nature of business, pursuing an outright sale just didn't feel right.

    Letting Go

    "When you work side-by-side with the type of people we have for 20 to 30 years, you can't help but want the best for them. Without their commitment to our business, we would have a much different company today or perhaps no company at all," said Scott Rubenzer, CEO.

    "You reach a point, retirement aside, that you realize: hey, we might have grown this as far as we can and perhaps it's time for someone from the outside to help take the business to the next level," said Bill Rubenzer, VP of Marketing.

    So, after many sleepless nights, mostly out of concern for what would happen to their almost 100 employees who are regarded as extended family, the brothers agreed that the best path would be to find a partner that would not only protect jobs, but also bring resources to grow the company.

    Types Of Buyers / Investors

    Acquirers of middle market companies tend to fall into one of two categories. The first are referred to as "Strategics" and are either direct or indirect competitors. The second are "Financial" buyers often referred to as Private Equity Groups or PEGs.

    Decision To Hire M&A Investment Bankers

    "For 40 years we focused our energies on becoming experts in the battery business. Figuring out on our own who we should transition the business to was not something we wanted to learn by trial and error…we only had one chance to get this right," said Bob Rubenzer, Vice President.

    The Family's Next Move

    SBS selected FOCUS Investment Banking, an M&A investment bank with experience in the sector.

    The brothers described their ideal outcome to FOCUS, which was for each brother to be able to work for the company until retirement, protect jobs and bring resources to grow the company.

    To accomplish the objectives, FOCUS prepared an offering memorandum, confidentiality agreements and a target list of strategic and private equity groups that are active in the sector.

    Next, an auction was run that generated multiple options for the family.

    Reasons We Partnered With A Private Equity Group

    "Ultimately the family was far more comfortable with financial buyers over strategic buyers for two primary reasons," said Scott Rubenzer.

    1. The financial buyers weren't proposing to consolidate operations and downsize a large number of employees, and

    2. The "right" financial buyer would be focused on growth and the family could retain a substantial percentage of the company so they could have another "bite at the apple" on a future sale.

    About SBS' Investor

    After an extensive due diligence process, SBS determined that SCEP was the best "partner" for their family, employees and business.

    SCEP is a unique private equity group in that it only targets investments in businesses that are focused on value-added distribution and logistics.

    With investors and principals coming directly from the distribution, logistics and direct marketing industry, SCEP provided a special fit that resonated with the family.

    "We met with a large number of firms, but SCEP was clearly the right fit for us. They are a group of smart, sensible guys that really get our business and shared our Midwestern values of hard work and treating people fairly," said Scott Rubenzer.

    "The analyses that SCEP performed throughout the process really impressed us; they repeatedly showed us things about our very own business that we never knew…that type of insight makes you feel like you are selling to someone who will add more value than just plain cash," said Bill Rubenzer.

    "All the private equity groups we were introduced to seemed to have cash, but finding the ones that have something special, that's the key," said Scott Rubenzer.

    When Selling Isn't Really Selling

    All three brothers are planning to stay on with the business for much more than just a simple transition. Rather than sell the whole business, the family opted to only sell a portion of the business and invest alongside SCEP.

    Both SCEP and the family are bullish about the growth opportunities they can tackle together with SBS.

    "I don't think we will be around with SBS for another 100 years, but based on the way we structured this, perhaps our nephew's great grandchildren will be," said Scott Rubenzer.

    Sep 14 11:17 AM | Link | Comment!
Full index of posts »
Latest Followers


More »

Latest Comments

Most Commented
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.