Publication
Valuation Drivers to Consider During the M&A Sale Process
https://www.toptal.com/management-consultants/mergers-and-acquisitions/ma-sale-process
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Jonathan Wesner, CFA
Verified Expert in Management Consulting
Management Consulting Expert
Los Angeles, CA, United States
Toptal member since November 19, 2018
Bio
Since 2011, Jonathan has been working in M&A, completing 40 investment banking transactions totaling $1.8 billion. He has extensive experience working with founders and C-level executives across a variety of industries, notably software and marketing technology. Freelancing allows him to work for a diverse range of clients and help them tackle complex business and financing strategies.
Career Highlights
Managing Partner
Agadir Partners
Principal (Director)
AGC Partners
Vice President, Investment Banking
Berkery, Noyes & Co
Education Highlights
Master of Business Administration (MBA) Degree
Penn State Smeal College of Business
Bachelor's Degree
Penn State Smeal College of Business
Certification Highlights
Chartered Financial Analyst (CFA)
CFA Institute
Series 63
Financial Industry Regulatory Authority (FINRA)
Series 79
Financial Industry Regulatory Authority (FINRA)
Case Studies
LBO Model for a Private Marketing Technology Company
Leveraged Buyout (LBO)M&A (Sell-side)Financial ModelingAccountingLeveraged Buyout ModelingMergers & Acquisitions (M&A)+ 7 more
Financing Presentation for a SaaS Company
SaaSFinancingFinancial Planning & Analysis (FP&A)Mergers & Acquisitions (M&A)ValuationInvestment Banking+ 8 more
Valuation of a $100 Million Merger of a Public Company
ValuationCorporate FinanceMergers & Acquisitions (M&A)Financial Planning & Analysis (FP&A)Financial ModelingThree-statement Modeling+ 4 more
Expertise
- Capital Raising
- Financial Modeling
- Financial Planning & Analysis (FP&A)
- Fintech
- Mergers & Acquisitions (M&A)
- Private Equity
- Software as a Service (SaaS)
- Valuation
Work Experience
Managing Partner
2018 - PRESENT
Agadir Partners
- Partnered with private and sponsor-backed middle-market companies and startups in CFO areas such as M&A, corporate finance and strategy, and capital markets.
- Added value to key areas such as financial statements, preparation, analysis, forecasting, and modeling.
- Worked on growth strategy, organic and inorganic growth, M&A, divestitures, as well as capital structure and financing in equity, debt, and alternative financing.
- Worked as transaction lead and support. Involved in acquisition and integration analysis, risk and liquidity analysis, fundamental, in-depth business analysis, and maximized shareholder value and exit strategy planning.
Focus areas: Mergers & Acquisitions (M&A), Corporate Finance, CFO, Interim CFO, Financing, Pitch Deck Consultant, Storytelling
Principal (Director)
2021 - 2022
AGC Partners
- Worked for AGC, the leading global software and technology investment bank focused on middle-market M&A and growth financings.
- Served as a principal across software/SaaS, including gaming, infra/cloud, data, HCIT, edtech, and cybersecurity.
- Closed five transactions with around $813 million in transaction value.
Focus areas: Mergers & Acquisitions (M&A), Software, Investment Banking, Capital Raising, Pitch Deck Consultant, Storytelling
Director, Mergers & Acquisitions
2019 - 2020
Woodbridge International
- Oversaw the firm’s U.S. and Canadian M&A efforts, and managed the firm’s transaction strategy and overall training and development of staff.
- Managed all aspects of transactions from pitch through close, and negotiated directly on behalf of clients, specifically regarding enterprise value, control provisions, working capital, and purchase agreements.
- Led multiple deal teams in marketing, structuring, negotiating, and closing sell-side transactions.
- Successfully executed LOIs with four companies across consumer, tech, and software industries within the first five months.
Focus areas: Mergers & Acquisitions (M&A), Pitch Deck Consultant, Storytelling
Vice President, Investment Banking
2015 - 2018
Berkery, Noyes & Co
- Closed eleven deals, approximately $290 million in transaction value, which included sell-side M&A, leveraged buyouts, equity financings, and fairness opinions; also directly managed teams of associates and analysts.
- Specialized in software and SaaS business models in marketing services, TMT, and fintech.
- Managed all aspects of transactions from pitch through close, and negotiated directly on behalf of clients, specifically regarding enterprise value, control provisions, working capital, and purchase agreements.
- Collaborated directly with management teams to prepare all of the marketing materials.
- Determined the optimal ways to position opportunities to investors and built financial models to drive maximum valuation and outcomes.
- Directly advised an LA-based software (SaaS) company with $15 million in revenue, in its growth equity raise. Defined, maintained, and updated key SaaS metrics (ACV, ARPA, CLTV/CAC, net dollar retention, and so on).
- Worked directly with all clients in an FP&A capacity to analyze historical financial performance, prepare and recommend improvements, prepare and forecast operating performance, and create historical and projected financial statements.
Focus areas: Software as a Service (SaaS), Capital Budgeting, Confidential Information Memorandum (CIM), Financial Services, Accounting, Cohort Analysis, Leveraged Buyout Modeling, Investment Banking, Private Equity, Three-statement Modeling, Financial Modeling, Financial Planning & Analysis (FP&A), Capital Structuring, Fairness Opinion Reports, Corporate Finance, Valuation, Capital Raising, Mergers & Acquisitions (M&A), Pitch Deck Consultant, Storytelling
Vice President, Investment Banking
2011 - 2015
Bryant Park Capital
- Closed 24 deals, approximately $650 million in transaction value, which included sell-side M&A, leveraged buyouts, debt and equity financings, and fairness opinions; also prepared valuation analyses, merger and LBO models, and client presentations.
- Specialized in fintech/specialty finance (FIG) and advised on numerous engagements, both public and private, in areas such as lending technology, consumer lending, and merchant cash advance.
- Served as a staffer and mentor for all interns, analysts, and associates.
- Prepared training materials and provided ongoing support to all junior employees and directly managed teams of associates and analysts.
- Earned early promotion to the position of vice president in two years due to deal-sourcing and buyer relationships.
- Directly advised a pre-revenue media technology startup on multiple Series A capital raises with a strategic backed venture fund, totaling $6.5 million.
- Directly advised US Home Systems (NASDAQ:USHS) in its ~$100 million merger with Home Depot (NYSE:HD).
Focus areas: Software as a Service (SaaS), Capital Budgeting, Confidential Information Memorandum (CIM), Financial Services, Accounting, Cohort Analysis, Leveraged Buyout Modeling, Investment Banking, Private Equity, Three-statement Modeling, Financial Modeling, Financial Planning & Analysis (FP&A), Capital Structuring, Fairness Opinion Reports, Corporate Finance, Valuation, Capital Raising, Mergers & Acquisitions (M&A), Pitch Deck Consultant, Storytelling
Other Experience
Education
2008 - 2010
Master of Business Administration (MBA) Degree in Corporate Finance and Investment Management
Penn State Smeal College of Business - University Park, PA, USA
1999 - 2003
Bachelor's Degree in Marketing and International Business
Penn State Smeal College of Business - University Park, PA
Certifications
AUGUST 2018 - PRESENT
Chartered Financial Analyst (CFA)
CFA Institute
SEPTEMBER 2011 - PRESENT
Series 63
Financial Industry Regulatory Authority (FINRA)
SEPTEMBER 2011 - PRESENT
Series 79
Financial Industry Regulatory Authority (FINRA)
Skills
Finance
Corporate Finance, Fairness Opinion Reports, Capital Structuring, M&A (Sell-side), Financial Reporting, Mergers & Acquisitions (M&A), Financial Modeling, Private Equity, Valuation, Financial Planning & Analysis (FP&A), Accounting, Leveraged Buyout Modeling, Three-statement Modeling, Budgeting, Forecasting, Revenue & Expense Projections, Fundraising, Startup Funding, Cost-benefit Analysis, Seed Fundraising, Due Diligence, CFO, Capital Raising, Capital Budgeting
Output Software
Microsoft PowerPoint, Microsoft Excel
Data & Analysis Software
Capital IQ
Industry Expertise
Financial Services, Confidential Information Memorandum (CIM), Venture Capital, Sales & Marketing, Software
Other
SaaS, Financing, Leveraged Buyout (LBO), Business, Fintech, Interim CFO, Investment Banking, Cohort Analysis, Software as a Service (SaaS), Pitch Decks, FPA, Due Diligence Consultant, Waterfall Modeling, Early-stage Venture Capital, Pitch Deck Consultant, Storytelling, Marketing, Advertising, Media, Marketing Technology (MarTech)
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