NewswireToday - /newswire/ -
New York, NY, United States, 2008/08/04 - Chartered Capital, LLC announces today that it has formed the first mergers and acquisitions unit dedicated to providing US matchmaking service for Canadian Capital Pool Companies (CPC) and Special Purpose Acquisition Companies (SPACs).
“We are responding to the needs of these companies to speedily and efficiently find a merger or acquisition match that provides the best fit for their goals and ambitions in a competitive and fast-paced world”, says the President of Chartered Capital, Tunde Aboyade-Cole.
Capital Pool Companies and SPACs are public companies which are created to raise capital from small and institutional investors for the purpose of completing an acquisition or merger within a specified period, usually two years. In recent years, several of these companies completed a merger or acquisition and their successes have led to an upsurge of interest and an increasing difficulty to find suitable merger partners. The following statistics tell the story:
As at May 31, 2008, 194 CPCs were searching for merger or acquisition. So far, many CPCs have liquidated because they were unable to complete a Qualifying Transaction.
158 SPACs have registered since 2003. Out of these, 66 or 42% are still looking for acquisition or merger, and 18 have liquidated because they could not find merger candidate within the stipulated time.
Reacting to these statistics, Mr. Aboyade-Cole said, “The resources and the skill of the typical investor group or generalist investment banker are no longer adequate to meet the unique challenges of these special purpose companies. Those that do not utilize the specialized skills and focus such as we bring to the table may have great difficulties completing a transaction within the time limit or see themselves pressured into marriages that destroy value and the reputation of the investor group.”
The firm leverages deep market knowledge, wide industry contacts, strong deal flow and decades of investment experience of its principals to speedily source Qualifying Transaction candidates with potentials to create strong shareholder value through organic growth, expansion and accretive acquisitions.
Chartered Capital, LLC is a New York based merchant banking and management consulting firm specializing in the mergers and acquisitions of small to middle market companies, and management consultancy. The principal has had more than twenty years experience in M&A, management consulting, investment banking and strategic planning.
For more information or to explore a relationship, please call Tunde at 1-347-724-6277 or send an email.