EVENT DETAILS

LAVA Breakfast Meeting
A Year End Update on Trends in M&A, and a Look at Prospective Buyers and Activity in 2010

Tuesday February 9, 2010
7:00am - 9:00am

Skirball Cultural Center, 2701 N Sepulveda Blvd, Los Angeles, CA 90049 (map)

Generously Sponsored by:

The program will review M&A activity in 2009 with a special focus on what market segments are "hot". It will provide you with insights into who is buying and who is selling and the transaction multiples that are being paid today. It will also give you an update on the M&A financing market and provide you with predictions on what M&A activity will look like in 2010.

Program Chairs

• Nevena Orbach, President and Co-Founder, The Orbach Company, Inc.
• Greg Soukup, Principal, TVA Associates

Moderators

• Greg Soukup, Principal, TVA Associates
• Richard J. Welch, Partner, Bingham McCutchen

Current Confirmed Panelists

• Bryant R. Riley, Founder, Chairman, B. Riley & Co.
• Gary Reagan, Senior Vice President, Comerica Bank
• Michael W. Tully, CFA, ASA, Principal, TAS-Valuation and Business Modeling, Ernst & Young
• Kenneth Woo, US Director of Research, Factset Mergerstat
• Dale Okuno, Senior Vice President, Ebix, Inc.; Founder, EZ Data, Inc.

Program Chair Profiles

	Nevena Orbach President, Co-Founder The Orbach Company, Inc.   Nevena Orbach is President and co-founder of The Orbach Company, Inc. Founded in 1981, the firm specializes in investor relations and financial public relations. She is Immediate Past President of the Los Angeles Venture Association and serves on its Executive Committee.   Ms. Orbach has helped guide companies through the M&A process, including pre-merger, merger and post-merger integration. Industry sectors served include entertainment, pharmaceuticals, technology, real estate, and consumer products.  Her firm also represents financial and professional services firms, including investment banks, venture capital and Big 4 accounting firms.   Prior to forming The Orbach Company, Ms. Orbach was with Burson Marsteller Public Relations in New York City and NBC Network News in New York and Washington, D.C.
	Greg Soukup Principal TVA Associates   Greg Soukup is a principal in the tax consulting firm, TVA Associates and serves on the Board of the Los Angeles Venture Association.  Prior to his retirement in 2008, Mr. Soukup was a partner of Ernst & Young LLP.  Mr. Soukup’s responsibilities included leading Ernst & Young’s West Zone Transaction Advisory Services tax practice which involved all aspects of corporate taxation , particularly tax due diligence, transaction structuring and tax planning. He  continues to provide those services to clients through TVA Associates. Mr. Soukup also serves as Chairman of a family-owned metal fabrication firm, Warrior Mfg.,LLC.   With over 33 years of tax experience, Mr. Soukup has been involved in all aspects of corporate taxation, particularly transaction structuring and planning. He is both an attorney and a CPA and is member of the AICPA, the California and Minnesota Society of CPAs as well as a member of the ABA and the Minnesota  Bar.  Mr. Soukup  also has served as a corporate tax professor in the MBT programs at both Golden Gate University and the University of Southern California and the LLM program at Loyola Law School.   Mr. Soukup is very active in community affairs.  He served as the conference co-chair for the 2009 Southern California Business Growth Conference. He is the past Chairman of the Board of the Los Angeles Chamber Orchestra and a member of the Board of Regents of Saint John's University.

Moderator Profiles

Richard J. Welch Partner Bingham McCutchen   Richard Welch is the co-chairman of Bingham’s Corporate Area and managing partner of the firm’s Los Angeles office. He engages in general corporate law, focusing on mergers and acquisitions and the representation of private equity funds and growth companies. He has acted as the lead acquisition counsel in connection with more than 30 management buyouts and portfolio company dispositions in the $250 million to $2 billion range in a wide array of industries. He serves as outside corporate and securities counsel to several public and private companies, and he has also represented both issuers and venture capital funds in numerous public and private financings. Rick served as the managing partner of Riordan & McKinzie from 1992 until its merger with Bingham in July 2003.

Panelist Profiles

	Bryant R. Riley Founder, Chairman B. Riley & Co. Founder, Managing Member Riley Investment Management   Bryant R. Riley is founder and Managing Member of Riley Investment Management LLC, an investment advisor which provides investment management services. He also is founder and Chairman of B. Riley & Co., LLC, a Southern California-based brokerage firm providing research and trading ideas primarily to institutional investors. Mr. Riley serves on the board of directors of Aldila, Inc., Alliance Semiconductor Corporation, DDi Corporation and Kitty Hawk. He has served as advisor on a variety of M&A engagements, including the sale of Mossimo Inc. to Iconix Brand Group, Inc. In February 2007, Mr. Riley and a group of investors acquired Oregon-based Country Coach, Inc. from Perris-based National RV Holdings.   Prior to 1997, Mr. Riley held a variety of positions in the brokerage industry, primarily as an institutional salesman and trader. From October 1993 to January 1997 he was a co-head of Equity at Dabney-Resnick, Inc., a Los Angeles-based brokerage firm. From 1991 to 1993 he was a co-founder of Huberman-Riley, a Texas-based brokerage firm.  Mr. Riley graduated from Lehigh University in 1989 with a B.S. in finance.   Founded in 1997, B. Riley & Co., LLC also has offices in San Francisco, Newport Beach, New York and Philadelphia.
	Gary Reagan Senior Vice President Comerica Bank   Gary Reagan is a Senior Vice President at Comerica Bank, leading a team of lending professionals in sourcing and managing relationships with technology and life science companies in the Los Angeles and Orange County regions.   Gary has over 20 years experience arranging senior debt financing for start-up, expansion-stage and well-established companies.  He has structured a wide range of deals, including asset-based, growth capital, acquisition and syndicated loans.  Gary has collaborated with numerous venture capital and private equity firms in putting together arrangements for clients. Before joining Comerica’s Technology & Life Sciences team in 2006, he served as a senior relationship manager in the Bank’s middle market lending group. Prior experience includes lending positions at Silicon Valley Bank and First Interstate Bank. Gary holds a BS in Finance from San Diego State University and an MBA from Golden Gate University.
	Michael W. Tully, CFA, ASA Principal, TAS-Valuation and Business Modeling Ernst & Young   Mike Tully has spent over 16 years in the business valuation industry.  Most recently, Mr. Tully participated in a fellowship at the Financial Accounting Standards Board in Norwalk, CT from January 2007 thru August 2008 where he provided valuation expertise and guidance to various standard setting activities.  He was a member of the FASB’s SFAS 157 implementation and SFAS 141(R) project teams and was the chairman of the FASB’s Valuation Resource Group.  Additionally, he was the FASB’s observer on the IASB’s Expert Advisory Panel.  Mr. Tully is also a frequent speaker on valuation matters relating to fair value and business combination accounting.   Mr. Tully’s areas of expertise are primarily the valuation of common stock, minority and majority business interests, privately held interests, intangible assets (especially customer and technology intangible related), reporting units, accounts receivable assets, derivatives and share based payments (such as employee stock options and restricted stock).   Mr. Tully also has experience valuing reporting units and intangible assets in conjunction with purchase price allocations and impairment testing for U.S. GAAP purposes.  Other related areas of specialization include, financial analysis of a company's historical operating and future estimated performance, and competitor trends.  Mike’s industry specialties include: (i) aerospace and defense, (ii) engineering and construction, (iii) biotechnology/pharmaceuticals, (iv) high technology, (v) consumer products, and (vi) health care.   Mr. Tully received his M.B.A from Pepperdine University and his B.S., Business Administration from the University of Southern California.
	Kenneth Woo US Director of Research Factset Mergerstat   Kenneth Woo is a Regional Manager in FactSet Research Systems Los Angeles office. He currently is responsible for the coverage of North American Mergers & Acquisitions and Private Equity transaction data. His project focus also entails publications as the Mergerstat Control Premium Study, the Mergerstat Review, and the Flashwire publications.   Before joining FactSet Research Systems, Kenneth worked as a Senior Research Analyst at Sell-side investment firm. Kenneth has also served as a guest panelist on topics focused on Control Premiums, and as a guest speaker on M&A activity.   Kenneth completed his undergraduate studies at Loyola Marymount University, graduating with High Honors.
	Dale Okuno Senior Vice President, Ebix, Inc. Founder, EZ Data, Inc.   Dale Okuno is Founder of EZ Data, Inc. and led the successful sale of his company in October 2009 to Ebix, Inc. for approximately $50.3 million.  He currently serves as Senior Vice President of Ebix (NASDQ: EBIX) a leading international supplier of on-demand software and e-commerce services to the insurance industry.    Mr. Okuno is recognized as a pioneer in Customer Relationship Management (CRM) solutions.  In the early 1980s, he initiated the development of the Client Data System (CDS) pioneering the contact management software category.   EZ Data's products  set the industry standard for CRM solutions especially designed for insurance agents, investment advisors, insurance companies, general agents and broker dealers.    He began his career as an life insurance agent in his father’s agency of Transamerica Occidental Life in 1975. As an agent he earned his Chartered Life Underwriter designation, Series 7, Series 24, RIA and qualified as a Life Member of the Million Dollar Round Table. In 1982 he became a general agent and in 1984 was awarded Transamerica’s prestigious President's Cup award for agency management. In an effort to increase his agency's marketing power and streamline office operations, Dale began work on the CDS, which led to the formation of EZ Data. Today its Web based product, called SmartOffice, sets the industry standard for CRM solutions utilized by the insurance, investment advisors and broker dealer industry.

Event Pricing

Cancellation Policy

• Breakfast/Event cancellations must be received and confirmed by NOON the day before the breakfast/event to receive a refund. Email info@lava.org to submit a cancellation. Your cancellation is not effective until LAVA Member Services responds to confirm.
• No-shows and late cancellations will be charged the full breakfast/event price
• Late registrations (after the online pre-reg cutoff) are non-refundable

Payment Policy

Registrations must be made online via Credit Card - Visa, MasterCard and American Express cards are welcomed. In special circumstances, checks will be accepted before the event at the discretion of LAVA Member Services. Any checks not received in time will require credit card payment onsite.

Sponsor Profiles

About Ernst & Young

 

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. With extensive business knowledge and hands-on industry experience Ernst & Young can implement a broad array of solutions to help companies capture growth, improve financial performance and manage risk. Our investment in industry sectors strengthens our ability to deploy client service teams with specific knowledge and approaches to help our clients address industry issues. ey.com

 

Factset Research Systems, Inc. is a leading provider of financial data and analytics which has been empowering financial professional for over 30 years. Factset offers instant access to information to thousands of financial professionals around the globe. Our solutions are built on the creative use of technology and an unwavering dedication to client service. 

With FactSet, you gain powerful analytics tailored to your workflow, the broadest scope of data available, and access to industry-leading client service. Our top priority is ensuring that you always have the most accurate data available and the support you need to use it most effectively.  Visit our website: www.factset.com

Annual Sponsor Profiles

 

About Atenga

 

We have served clients spanning industries as diverse as professional services - consumer packaged goods to computer software to medical devices – all of whom share a desire to make more intelligent, higher-ROI pricing decisions. Our mission is to help companies make data-driven pricing and profitability decisions at the most granular possible level.

 

About Gemini Partners

 

Gemini Partners, Inc. is a Los Angeles-based boutique investment bank providing a wide range of value-added services to small and middle market private and public companies. Gemini is comprised of a

select group of top Wall Street banking alumni, ex-corporate executives, and valuation experts with MBA’s from the nation’s leading institutions. Gemini Partners professionals possess decades of investment banking, operational, and financial advisory experience. At Gemini, we combine the expertise of a tier one Wall Street firm with the personal attention and service of a boutique company. Our engagements are characterized by a high level of hands-on involvement at the senior level to ensure superior execution. As a firm, we aim to provide a level of personalized attention that engenders long term trust.

In addition to our superior investment banking services, Gemini also has the capabilities to selectively invest in small and middle market companies. www.geminipartners.net

 

About Loeb & Loeb

 

Celebrating our 100th anniversary in 2009, we are a national law firm with nearly 300 attorneys focusing on select core industries and practice areas. The firm represents multi-national, Fortune 100 companies in their mid-market transactions and litigation matters, and serves as primary outside counsel to a multitude of mid-market clients. The firm also represents clients ranging from high tech start-ups to high net worth individuals and families. The firm has an established history and nationally-recognized reputation in the entertainment and media industry, and is highly regarded for its depth in financial services and real estate. Loeb & Loeb has four offices located in Los Angeles, New York, Chicago and Nashville, and has applied to open a representative office in Beijing. For more information, please visit www.loeb.com.

 

Stubbs Alderton & Markiles, LLP is a corporate, securities and intellectual property law firm focusing on the representation of emerging growth and technology companies, middle market public companies, large technology companies, investors, private equity funds, investment bankers and underwriters, and clients in the entertainment industry. Our mission is to provide technically excellent legal services in a consistent, highly-responsive and service-oriented manner with an entrepreneurial and practical business perspective. These principles are the hallmarks of our Firm. Our strategy is to partner with our clients to provide legal services within our expertise, and identify and manage the most appropriate legal and other resources to provide expertise outside of our core disciplines. www.biztechlaw.com

About CBIZ Accounting, Tax & Advisory Services, LLC and Mayer Hoffman McCann P.C.

 

CBIZ Accounting, Tax & Advisory Services, LLC (CBIZ) is one of the largest providers of professional business services in the United States. CBIZ provides a full range of professional services to growing public and private companies, including: accounting, tax, valuation, M&A, internal audit services, and SOX compliance among other services. These services are provided throughout a network of more than 160 offices in 34 states and the District of Columbia.

 

Mayer Hoffman McCann P.C. (MHM) provides attestation services by working through a close association with CBIZ. MHM is a national CPA firm, with more than 30 offices in key financial centers across the country. MHM was founded 50 years ago and has been helping emerging companies grow since its inception.

 

MHM specializes in providing high quality attest services, including auditing services for SEC registrants, companies considering going public and privately held companies with an emphasis on companies in the middle market. With a strong national presence and international capabilities through its international association, MHM provides clients with stability and access to extensive resources - all with first-rate responsiveness and personal attention.

 

MHM P.C.'s comprehensive range of services includes audits, reviews, compilations, projections, forecasts, litigation support, and agreed upon procedures. Together, CBIZ and MHM P.C. combined rank as one of the top ten accounting providers in the United States. www.mhm-pc.com

 

Toronto Stock Exchange... An exchange of opportunity

 

Toronto Stock Exchange is the right choice for issuers with solid track records of business management. Known for our high standards of transparency and fairness, and our innovative approaches to trading, TSX offers our approximately 1,500 senior issuers a dynamic market to raise capital. TSX issuers raised $46 billion in 2005, the third highest value of financings among members of the World Federation of Exchanges.

 

TSX is the global leader for listing mining and oil and gas companies operating around the world. Issuers list a number of different types of securities on TSX, including conventional securities and innovative equity-related products such as exchange-traded funds, income trusts and investment funds.

 

TSX provides opportunities to access public equity capital efficiently, liquidity for existing investors and the prestige and market exposure associated with Canada's senior exchange. www.tsx.com

 

SVB Financial Group provides diversified financial services to emerging growth and mature companies in the technology, life science, private equity and premium wine markets. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, SVB Financial Group provides a level of service and partnership that measurably impacts its clients' success.

 

Headquartered in Santa Clara, Calif., the company offers its clients commercial, investment, merchant and private banking, as well as value-added services using its knowledge and networks. Merger, acquisition, private placement and corporate partnering services are provided through the company's investment banking subsidiary, SVB Alliant. Founded in 1983, SVB Financial Group serves nearly 11,000 clients around the world through 27 domestic offices, three international subsidiaries in the U.K., India and China, and an extensive network of relationships with venture capitalists in Asia, Australia, Europe, India, and Israel. www.svb.com

 

TroyGould is a prominent Century City law firm representing start-up to middle-market companies since 1970. Its corporate and securities group has considerable experience in organizing, structuring and financing early stage companies, as well as reverse mergers, IPOs, SPACs, PIPEs, Form 10 filings, mergers and acquisitions, private placements, tender offers, debt financings, proxy solicitations, exchange listings, equity compensation plans and general corporate matters. The firm also counsels these companies in IP, tax, real estate and employment matters and provides cost-effective litigation services in a variety of areas, including misappropriation of trade secrets, unfair competition, securities and breach of contract. www.troygould.com

 

PricewaterhouseCoopers provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 140,000 people in 149 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

 

PricewaterhouseCoopers is the service provider of choice to venture capital and private equity firms around the world. While we are known for providing specialized tax and assurance services to clients, we also recognize that venture capitalists succeed only when their portfolio succeeds. Consequently, our approach to serving venture capital and private equity clients is oriented around helping portfolio companies turn their visions into reality.

 

In that regard, PricewaterhouseCoopers has helped countless start-up companies develop their business plans, secure financing, execute their strategy, build value and create wealth through IPOs, merger transactions and other liquidity events. www.pwc.com

 

Nixon Peabody LLP is one of the largest multi-practice law firms in the United States, with 17 offices and over 700 attorneys working in 15 major practice areas.  The firm's size, diversity and state-of-the-art technical resources enable us to offer comprehensive legal services to organizations and individuals of all sizes in local, state, national and international matters.

Nixon Peabody's Venture Capital, Emerging Growth & Technology practice addresses California's emerging growth and technology marketing in a comprehensive and holistic manner - from the investor's side, as well as the portfolio company's side. We represent emerging growth companies from incorporation through initial public offering or acquisitions, and public companies on corporate and securities needs. We also have a nationally ranked practice representing venture capital funds.

 

Nixon Peabody's services for companies concentrate on corporate counseling, venture capital financing, domestic and international strategic transactions such as licensing and joint ventures, mergers and acquisitions, PIPEs and public offerings, tax, executive compensation and employment law, intellectual property portfolio review and patent prosecution, and intellectual property litigation. Our services for venture capital firms consist of fund formation and management, portfolio company investments, board of directors and executive compensation matters, portfolio review, and intellectual property audits and representation.

 

FORTUNE® magazine named Nixon Peabody as one of the "100 Best Companies to Work For" two years in a row in 2006 and 2007. Our San Francisco office was recognized by the San Francisco Business Times as one of the "Best Place to Work" in 2006. For more information please visit us at www.nixonpeabody.com.