Blue River Celebrates 2023 Accomplishments: Deals, Hires, Awards

January 18, 2024 – Blue River Financial Group announced second to best year in deal making activity since its inception, celebrating 19 total transactions, nine new hires, three recognitions, and four designations in 2023. The company closed deals across various sectors such as Distribution, Business Services, Manufacturing, Health & Wellness, and Automotive, and enhanced processes deepening capabilities across all divisions.

While M&A activity saw its share of challenges in 2023, Blue River’s resilient buyside team forged a path to multiple deal completions due to its outstanding clients and a commitment to driving shared success despite M&A headwinds. Blue River’s buyside client portfolio grew significantly in 2023, launching pre-close diligence support though a dedicated research team, as well as a multitude of add-on and platform strategies for financial and strategic buyers alike.

Sara Clevenger, Blue River Principal and Buy-Side Practice Leader, stated, “we are grateful for each of these relationships and proud to have completed multiple transactions together in 2023. With Incline Equity Partners for instance, our teams closed 9 transactions across 5 engagements, with a continued focus on pipeline enhancement and healthy transaction prospects for 2024 and beyond.”

Sara continued, “one of the key highlights from 2023 was closing our largest-ever buyside transaction with a transformational services add-on for a strategic buyer, which transacted at an enterprise value north of $300MM. Metrics-driven process, enhanced education and technology, dedicated team members and outstanding clients created a formula for success throughout 2023. Blue River intends to build upon this foundation to drive even greater results for our clients and our people.”

To support the Company’s growth, Blue River added nine new employees in 2023. The Buy-Side division welcomed Randy Babi, Sean Burns, Michael Herrmann, Fideh Samaha, Jessica Trombley and Marie Welch. Vanna Flahn and Austin Rogers joined the research department, and Taylor Moss joined the valuation team. The Company also promoted Nicole Levy to Managing Director and buy-side segment leader.

Bryan Berent, Managing Partner, stated “2023 was an interesting year for the entire M&A industry. Quarterly deal value continued to decline from the highs of 2021. At Blue River, we had high aspirations for 2023. While we did not meet our deal count numbers, we did accomplish our goal of increasing revenue. We also spent considerable resources in building out our incredible team, tech stack and infrastructure to set our clients up for success in 2024.”

2023 was also a year of notable recognition from outside organizations. M&A Source, the leading trade association for lower middle market transaction advisors, named Blue River Top Firm of the Year in the 10+ person firm category for the second year in a row, and awarded William Loftis, Blue River’s co-founder and Managing Partner, Platinum Club membership for surpassing the $15 million in transaction volume threshold. The Detroit Chapter of the Association for Corporate Growth (ACG) recognized Bryan Berent, Blue River’s other co-founder and Managing Partner, as 2022 All Star Investment Banker of the Year, which acknowledges his significant achievements in 2022.

William (Bill) Loftis, Managing Partner, stated, “The year of our Lord two thousand twenty-three was interesting. It began with raging headlines about inflation, recessions, wars, and rumors of even bigger wars! “Uncertainty” became the watchword of the private capital marketplace. Yet, twelve months later, the sun still rises.”

The Alliance of Merger & Acquisition Advisors (AM&AA) conferred the Certified Merger & Acquisition Advisor (CM&AA) designation upon three Blue River team members: Evan Haigh, Noemi Kinsey, and Jim Loftis. Anthony Tranchitella, Blue River’s Senior Valuation Analyst, also completed his certification as a Certified Valuation Analyst (CVA) with the National Association of Certified Valuators and Analysts (NACVA).

Bill continued, “at Blue River, there is much we cannot control; but for those things we can influence, we bring our best. Despite the headwinds, we had another successful financial year. We also undertook important initiatives that will support our growth for years to come. So, for as long as the world holds together, we are bullish about the future.”

“We have never been better positioned to accelerate our clients’ M&A strategies than we are right now,” Bryan noted. “For Blue River to grow, we must achieve success for our clients. I’m excited to see just how fast Blue River will grow in 2024.”

About Blue River

Blue River Financial Group is a middle market merger and acquisition advisory firm. We assist corporations, private equity groups and individuals in the sale and acquisition of businesses, and have completed assignments in multiple business segments. With over 20 years of experience spanning across 50 global industries, Blue River provides a suite of services to middle market clients including corporate development, private equity support, valuations and transaction consulting, placing a premium on relationship-centered transaction counsel and client focus.

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