Vertess partner recognized for deal
By HME News Staff
Updated 10:09 AM CDT, Mon June 10, 2024
FORT WORTH, Texas – Vertess has announced that Bradley Smith, managing director/partner, has been recognized as an M&A advisor for one of Axial’s Top 8 Deals of 2023. Axial, a private deal network serving professionals who own, advise and invest in North American companies, named Smith’s deal a top transaction across the health care industry last year. He provided sell side representation for a medical device manufacturer in a transaction that took 12 months from signing to closing and ultimately sold for $55 million, at a multiple of almost 11x EBITDA. "We decided to get a seller's QofE in the middle of the process, which added a few extra months,” said Smith. “The multiple was higher than it should have been due to the owner's tenacity. It started off at a 10x and increased from there as a result of his pushing the seller. It also helped that the company kept growing at an impressive rate." The deal yielded 215 buyer matches, 57 total pursuits, and a pursuit rate of 26.51% on the Axial platform.
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