The Handbook of Financing Growth: Strategies, Capital Structure, and M&A Transactions (Wiley Finance) [Hardcover]

Kenneth H. Marks (Author), Larry E. Robbins (Author), Gonzalo Fernandez (Author), John P. Funkhouser (Author), D.L. Williams (Author)

Book Description

Publication Date: September 8, 2009 | ISBN-10: 0470390158 | ISBN-13: 978-0470390153 | Edition: 2

Praise for The handbook of Financing Growth

"Once again, Kenneth Marks and company have hit the mark with a comprehensive analysis of corporate and commercial finance, which is both readable and up-to-date. This book is a must for any entrepreneur, middle-market company CFO, or graduate student looking for a thorough presentation of real world financial solutions. I highly recommend it."
—Barry D. Yelton, Senior Vice President and Region Manager, Federal National Payables, Inc.

"This is a valuable tool to anyone raising capital. I've seen firsthand how the current environment is filled with dead ends for those seeking to grow their business. Having a blueprint for the process will save time and resources; two things any growth company can ill afford to spend. By looking at the process and explaining the various components of how capital forms, the authors provide necessary insight toward a productive effort. Anyone considering a capital raise should embark on that journey with this resource."
—Christopher Gaertner, Head of Technology Investment Banking, Managing Director, Merrill Lynch

"All principals involved in financing their growth should keep a copy of this book handy and refer to it frequently for guidance. It provides clear guidelines and case studies that can be used by any of the 27 million firms in the U.S. that want to grow."
—James F. Smith, PhD, Chief Economist, Parsec Financial Management

"Ken Marks and team have done a great service here to top management of middle-market companies, their advisors, as well as the investment community in understanding growth financing. This book is a perfect combination of being comprehensive (the glossary alone contains over 650 terms) yet very understandable. Too bad that more books written on this subject aren't written the way this one is."
—Bob Grabill, President and CEO, Chief Executive Network

"I am enthusiastic about this Second Edition of The Handbook of Financing Growth. The authors have updated chapters throughout and introduced a very useful, 'new project leadership' tool in Chapter 2. I can't imagine a more complete business financing guide. And, because of the tremendous amount of business wisdom contained herein, this book is valuable for its general business planning guidance alone. Highly recommended; a copy belongs in every entrepreneur's library!"
—Peter Pflasterer, entrepreneur and founder, JPS Communications, Inc.

"Considering the many financing challenges in the midst of our global recession, as a leading trade association for M&A professionals, we believe the new edition of The Handbook of Financing Growth is essential reading for any business owner, advisor, or investor. This ambitious sharing of 'hands on' experiences will surely prove to be very rewarding for any decision maker in the private capital marketplace today!"
—Michael R. Nall, CPA, CM & AA, and founder, Alliance of M&A Advisors

Editorial Reviews

Review

"The Handbook of Financing Growth, Second Edition remains the most important book on financing to be published in far more than a decade. If there is a way to do a business finance deal, it is covered in this book. Not only does the book explain how to do most all types of financing, it tells you why some companies succeed while others fail. The book is a true reference book that you can turn to when you need an answer, or when you need inspiration."
—Marilyn J. Holt, Founder of Holt Capital,

From the Inside Flap

Over the past two decades, access to capital for emerging growth and middle-market companies—firms with revenues ranging from zero to $500 million—has fluctuated based on broad stock market performance and the liquidity or tightness of the credit markets. Today, despite the current economic turbulence, there is arguably the greatest amount of capital ever focused on emerging growth and middle-market companies. But the hurdles to accessing this capital have never been higher.

The Second Edition of The Handbook of Financing Growth has been designed to help leaders and advisors gain a solid understanding of the financing strategies, sources, and transactions that will allow them to excel in such an unpredictable environment.

Written by an experienced group of practitioners who operate within this dynamic market—and fully updated to reflect new market realities—this reliable resource outlines the full spectrum of funding alternatives currently available to emerging growth and middle-market companies and presents the practical strategies and techniques you need to be aware of when considering the capitalization, growth, or sale of your, or your client's, company.

New material found in this Second Edition includes detailed discussions of positioning a business for value creation before the transaction and how your financing strategy fits into the overall plan for growing and raising capital as well as creating an exit. Among various techniques, the authors address buyouts and recapitalizations as two alternatives to create shareholder liquidity and potentially finance future growth. A new chapter on M&A addresses the acquisition process and how to fund acquisitions and external growth initiatives, while additional case studies highlight bank financing alternatives and growth equity.

In recent years, the capital markets for emerging growth and middle-market companies have quickly evolved. This practical guide will help you adapt to the changes and put you in a better position to succeed in building your business and creating value.

See all Editorial Reviews

Product Details

• Hardcover: 672 pages
• Publisher: Wiley; 2 edition (September 8, 2009)
• Language: English
• ISBN-10: 0470390158
• ISBN-13: 978-0470390153
• Product Dimensions: 6.2 x 1.9 x 9.2 inches
• Shipping Weight: 2 pounds (View shipping rates and policies)
• Average Customer Review: 4.9 out of 5 stars  See all reviews (12 customer reviews)
• Amazon Best Sellers Rank: #44,750 in Books (See Top 100 in Books)

More About the Author

Marks is the lead author of the Handbook of Financing Growth 2nd Edition ...an Advisor, Speaker & Expert in M&A, Financing, Turnarounds & Growth of Companies.

He is the founder and a Managing Partner of High Rock Partners, Inc. that provides transition Leadership, Advisory & Investment... teaming with middle-market leaders to navigate strategic transitions.

High Rock Partners creates value by leading (or advising the leaders of) emerging growth and lower middle-market underperforming or distressed companies to the next level using a unique and proven blend of experiences in strategic management, finance and deals, organizational alignment, technology launches, globalization, and lean operating systems.

Marks' past positions included President of JPS Communications, Inc., a fast growth technology subsidiary of the Raytheon Company and President / CEO of an electronics manufacturer that he founded and grew to $22 million. He was a director for a RTP, NC area investment bank focused on raising capital during the late 1990's.

He was a member of the Young Presidents Organization (YPO); and is the founding YPO Sponsor of the Entrepreneurs Organization (EO formerly YEO) in the Research Triangle Park, NC Chapter; a member of ACG; a member of the board of the NC Tech Assoc and board member of the Partnership for Defense Innovation. He is the founding president of the Research Triangle Chapter of the National Funding Association.

Marks created and teaches a MBA elective titled "Financing Early Stage & Middle-Market Companies" at NC State Unv. He lectures at Loyola Unv in Chicago as part of the M&A certification program.

Marks obtained his MBA from the Kenan-Flagler Business School at the UNC Chapel Hill, and his undergraduate studies were in electrical engineering at NCSU. He attended executive programs at the Wharton School and MIT. Marks is a Certified Merger & Acquisition Advisor (CM&AA).

Most Helpful Customer Reviews

9 of 9 people found the following review helpful

5.0 out of 5 stars CEO Feedback on Growth Financing September 15, 2009

By William Laughlin

Format:Hardcover

As a CEO I usually don't have the time or inclination for doing reviews on books, but I found the Handbook of Financing Growth to be a "must read" for any Business Owner looking for money to grow their business. The book is written in a very readable format and gives a good educational insight on the different types of financing that can be put in place to help grow your business. I have read the first edition twice, given two copies to other CEO's and have had two of my Presidents read it as well. Excellent read and one of the 5 Books on my CEO must read list!

5 of 5 people found the following review helpful

5.0 out of 5 stars Everything you need to know to get money for your business September 14, 2009

By Greg Ferguson

Format:Hardcover

If you are a business owner or senior executive in a growing company, this book will be invaluable to you in your efforts to finance the growth of your company. At some point, virtually all companies will need to find money to finance growth. This book covers more than 20 financing methods and offers contact information on hundreds of sources of capital. It details everything a company should expect in planning for and raising needed funds. It offers 20 case studies to demonstrate how money is raised, so that the reader can get a complete understanding of why certain kinds of financing are more appropriate than others in certain situations. This book discusses capital strucure, the relationships of debt to equity, and how this relationship affects your business.

Whether you want to grow your company, lower your risk, create liquidity, prepare for a purchase or sale, grow through acquisition, or raise capital for some other reason, this book will show you how the money world works and guide you through it.

4 of 4 people found the following review helpful

5.0 out of 5 stars Crib sheet to judge the suits November 12, 2009

By George A. Howard

Format:Hardcover

I highly recommend to the "Handbook for Financing Growth." As an owner of a growth company - but not a natural finance geek - I found the book tremendously helpful and exactly what I needed. My firm is blessed with good advisors, but I felt it could take decades for me develop the personal knowledge to judge a finance deal with any degree of confidence, or years to simply speak the language of finance. While HFG is not going to allow me let the lawyers go and kiss the i-bankers goodbye, it will allow me to judge their advice against the standards, protocols and norms described in the book, and talk the game with significantly more confidence. Consider the book a private crib sheet to prepare for and follow-up with the professional dealmakers. It's certainly a lot cheaper than bringing in another suit!

2 of 2 people found the following review helpful

5.0 out of 5 stars Deep and effortless reading October 8, 2010

By Adeodato Volpi Netto

Format:Hardcover|Amazon Verified Purchase

"For those interested in Financial Markets... this should be a Bible... M&A Advisors... check it out now!"

I was amazed about how important and deep were the analysis presente by Kenneth Marks in this book, being such a "pleasure reading". Technical books are used to be heavy reading, not this one!

Have fun and have it done! Worth your time.

1 of 1 people found the following review helpful

5.0 out of 5 stars Must Read September 22, 2010

By Jeff

Format:Hardcover

I bought this book on recommendation from a friend.

The Handbook of Financing Growth is a rare treasure -- extensive information, clear language, and efficient prose. It's been a perfect introduction to the small business finance landscape.

Highly recommended for anyone looking to become knowledgeable about the sector.

1 of 1 people found the following review helpful

5.0 out of 5 stars Axiom Award Winner April 22, 2010

By Tad Richard

Format:Hardcover

I've been a long-time follower of Kenneth Marks and a big fan of this book. I noticed that it recently won the prestigious Axiom Business Book award in the Business Reference category: [...]

1 of 1 people found the following review helpful

5.0 out of 5 stars A business strategy professional's go-to-first resource February 1, 2010

By Philip E. Hamilton

Format:Hardcover

Kenneth Marks and his team did it again. His 2005 Handbook on company financing and M&A strategies served me well as a tool written for both the experienced and those looking to understand what to consider when contemplating a company's move to the next level. After reading Kenneth's 2d Edition it exceeded my standard for a practical, concise and straight talking business resource on company financing, growth and business strategies. Most of the managers and entrepreneurs I've worked with lack a rounded understanding of business strategy and financing. So I've passed on this easy read to company leaders unsure of a path forward to give us a common basis for dialog based on the Handbook's clear presentation of options and principles founded on solid research and experience. This is the best resource I've found for small to medium companies and their management team, no matter what their experience level with business growth strategy development and execution. I highly recommend this book and like me, Kenneth Marks' "Handbook for Financing Growth" will be the go-to-first resource for you, your clients, your business partners, or your students.

1 of 1 people found the following review helpful

5.0 out of 5 stars A Definitive Work on Finance October 30, 2009

By Barry Yelton

Format:Hardcover

Kenneth Marks and his co-authors have created a book which literally defines how books about finance should be written. It is one of the most complete and informative books available on the financing of business.

Written for ordinary business people and students as well as seasoned CFO's, this book provides a broad overview of the multi-layered world of finance. It assimilates in highly readable language all the various avenues for capital acquisition available to small and middle market companies. As a bonus, it includes an extensive directory of sources of finance, providing a practical reference for those seeking funding of almost any variety. Rarely has a book been produced that is so thoroughly researched and accessibly written as this.

As a thirty five year veteran of the asset-based lending industry, I can comfortably assert that the section on my industry is right on point. So, in my opinion, are the other areas of finance covered in the book. The reader can easily access the particular field he or she is interested in, or can peruse the whole to obtain a thorough knowledge of the financing options available to the entrepreneurial company, as well as the growing established one.

Having previewed the book and written a cover blurb for it, I had a chance early on to gauge the quality of the work therein. I can assure the reader that they will not be disappointed. A remarkable book.