Country / Language

Resource Center: Liquidity and Capital Formation


Liquidity and capital formation are significant challenges facing owners and operators of middle market companies. Through a combination of national forums, affiliations with leaders in the capital markets, and the development of insightful thought leadership, CohnReznick has created this Liquidity and Capital Formation Resource Center with tools that can be used to learn more about liquidity events and accessing capital.

Learn about our National Liquidity and Capital Formation Advisory Group

Middle Market Equity Capital Report – Q1 2015

Heading out of 2014, a continuation of record-breaking IPO activity was forecasted for 2015. However, Q1 2015 fell far short of expectations and as a result raises more questions than there are definitive answers to explain the 46% drop in IPO activity when compared to Q1 2014. The decrease in IPO activity was particularly felt among middle market companies.

View the report online | Download the PDF version


Middle Market Equity Capital Report - 2014 Analysis

CohnReznick’s Middle Market Equity Capital Report – 2014 Analysis: Progress for Middle Market IPOs, the fourth in a series of quarterly reports, examines the metrics and propellers of IPO activity. CohnReznick analyses how these factors are converging to influence the overall middle market business sector and the impact of JOBS Act regulations on the formation of equity capital.

View the report online | Download the PDF version


2015 Middle Market Private Equity Outlook

An abundant supply of capital and competition to identify and close quality investments frames CohnReznick’s “2015 Middle Market Private Equity Outlook.” While the industry is poised for the challenges that accompany a competitive deal-making environment and heightened regulation, the outlook for this year exudes expansion. 

View the report online | Download the PDF version


Press Release: 2014 Middle Market U.S. IPO Activity Increases Over 2013 But Continues To Lag Behind Historic Levels

Despite year over year gains and historic returns, middle market initial public offering (IPO) activity in 2014 remained behind the level necessary to stimulate large scale economic growth, according to new research released today by CohnReznick. In terms of the broader market, the 2014 calendar year was the best year for IPOs since 2000, with 278 IPOs generating more than $90 billion in proceeds. However, IPO activity among the middle market was much more modest, with just 237 IPOs raising nearly $28 billion in 2014, compared with 190 IPOs raising more than $31 billion in 2013. This represents a 24% increase in the number of IPOs but an 11.4 % decrease in proceeds year over year. CohnReznick defines the middle market as companies with market cap between $10 million and $2 billion, excluding funds and SPACs.

Read the press release.

CohnReznick Releases Middle Market Equity Capital Report for Q3 2014

In the third quarter of 2014, indicators are pointing in the right direction for middle market IPO growth. Q3 2014 results reveal that the middle market capital formation engine is, after more than a decade of decline, revving faster. The U.S. is heading for its highest Initial Public Offering (IPO) activity since 2000, according to new research contained in The CohnReznick Middle Market Equity Capital Report.  The Q3 Report is the third in a series of quarterly reports from CohnReznick examining the state of the IPO market and its impact on middle-market businesses.

View the report online | Download the PDF version

Report: 2014 U.S. IPO Activity At Highest Level Since 2000

NEW YORK (October 2, 2014) – The United States is heading for its highest Initial Public Offering (IPO) activity since 2000, according to new research released today by CohnReznick LLP, a top ten accounting, tax, and advisory firm with a practice dedicated to helping middle-market companies with liquidity events and capital formation. 

The report indicates that 2014 IPO activity is on track to surpass 2013 figures, with 230 IPOs taking place during the first three quarters of the year, compared with 180 for the same time period in 2013. CohnReznick anticipates IPO activity for the year will exceed 315 deals, marking the highest level since 2000. If the strong market activity keeps pace through the end of the year, new IPOs can be credited with injecting an estimated 250,000 new jobs into the U.S. economy.

Read the full press release | View Infographic

CohnReznick Releases Middle Market Pulse: Liquidity and Capital Formation Survey Results

CohnReznick’s National Liquidity and Capital Formation Advisory Group surveyed a cross section of middle market CEOs, CFOs, and other C-suite business executives across the United States regarding liquidity and capital formation and past, current, and future business indicators. Three hundred responses were received and compiled in a proprietary research report. Our research methodology also included in-depth personal interviews with a cross-industry set of executives to explore their underlying thinking, drivers, and attitudes regarding liquidity and capital formation.

The results show an optimistic outlook on growth, access to capital, and liquidity among companies across many industries.

View the report online. Download the PDF version.

Press Release: CohnReznick Middle-Market Liquidity and Capital Formation Survey (Summer 2014)

According to new research commissioned by CohnReznick for its Middle-Market Pulse: Liquidity and Capital Formation Survey (full report to be released at the end of the month), executives at middle-market companies across the United States are confident about their ability to raise capital.  The survey found strong potential transaction activity over the next six months and showed executives’ confidence in securing the necessary capital to complete transactions before the end of 2014. However, when asked about the JOBS Act, which many have credited as a driving force behind the economic recovery and a robust IPO recovery in the U.S., only one-third of executives at smaller middle-market companies claimed to be familiar with the key elements of the legislation that could benefit their organization.

Read the press release

Perspectives on Middle-Market Equity Capital: Moving the Capital Markets Ecosystem Beyond One-Size-Fits-All

Despite their recognized value as economic engines, the number of Initial Public Offerings (IPOs) in the United States, although improving over the first two quarters of 2014, is far from the number required to accelerate growth in the middle market. The U.S. is on track to do only 280 corporate IPOs in 2014, less than one third of the total number that researchers estimate should be completed, based on GDP growth, to support the broader economy.

Our latest report, Perspectives on Middle Market Capital Formation, analyzes the “IPO Gap” and  its impact on middle-market companies and the broader economy. Data suggests that this “IPO Gap”, if not corrected,  could cost the U.S. almost two million potential jobs over the next five years.

View the report onlineDownload the PDF version | View Previous Report
 

CohnReznick Study:  Q2 2014 IPO Activity Continues Upward Trend; Despite Growth, U.S. on Track to Only Complete 280 IPOs in 2014, Far Behind Economic Potential

Despite their recognized value as economic engines, the number of Initial Public Offerings (IPOs) in the United States, although improving over the first two quarters of 2014, is far from the number required to accelerate growth in the middle market, according to new research released today and commissioned by CohnReznick LLP, a top ten accounting, tax, and advisory firm dedicated to helping middle-market companies with liquidity events and capital formation. The U.S. is on track to do only 280 corporate IPOs in 2014, less than one third of the total number that researchers estimate should be completed, based on GDP growth, to support the broader economy.

View Press Release

 

Leadership


Dom Esposito
CPA, Partner, National Practice and Growth Director

Private Equity Outlook

An abundant supply of capital and competition to identify and close quality investments frames CohnReznick's "2015 Middle Market Private Equity Outlook." While the industry is poised for the challenges that accompany a competitive deal-making environment and heightened regulation, the outlook for this year exudes expansion.

The 2015 Middle Market Private Equity Outlook underscores strategies that middle market private equity firms can adopt in order to best compete for deals and optimize the value of their portfolio. It also identifies and analyzes the activity drivers, opportunities, challenges, and key issues that will make a difference to executives in the following key industries: construction, hospitality, manufacturing and wholesale distribution, technlogy, retail and consumer products, and healthcare.

CohnReznick's Momentum 2014: Middle-Market Private Equity Outlook

Liquidity and Capital Raising National Forums

Joined by M&A professionals, capital markets experts, and middle market c-suite business executives, CohnReznick presents its Liquidity and Capital Raising Forum scheduled to be held in the Fall of 2015 in New York City. This interactive event will bring investors, financiers, and business leaders and entrepreneurs together to discuss relevant and timely topics.

Videos from our 2013 events are provided below.


New York

Baltimore

Los Angeles
 

Liquidity and Capital Formation Webinars

CohnReznick is pleased to host a series of webinars that will provide insight and observations into the challenges and opportunities associated with liquidity and capital formation. Designed for middle market decision makers, these interactive discussions are intended to provide participants with information and tools to make well thought business, personal, and financial decisions. 

Access our pre-recorded webinars that can be viewed at any time:


Thought Leadership

Links

Search Our People

Search Our People

Joe Torre: CohnReznick National Spokesperson

The new “Game Changer” ad campaign runs in national business and trade publications, top-market and national radio stations, sponsorships, digital/mobile ads, and social media posts. Learn more.

Joe Torre: CohnReznick National Spokesperson

The first ad from CohnReznick’s “Game Changer” campaign with national spokesperson Joe Torre. Learn more.

Renewable Energy

Renewable Energy

Timothy F. Kemper, Renewable Energy Practice Leader, addresses the audience at a recent renewable energy industry conference.

READ MORE

Learn about our upcoming events.

READ MORE

Working With Us

Working With Us

What makes CohnReznick different from others in our profession? And what should our clients come to expect when working with us? The answer is The CohnReznick Advantage. Contact us to learn how we can out the CohnReznick Advantage to work for your business.


People

The value of an organization is determined by the skills and qualities of its leaders. With more than 280 partners serving clients nationwide, CohnReznick is renowned for the diverse experiences, knowledge and backgrounds of its leadership.

Learn More

Services

We align our services in three segments: Accounting and Assurance, Tax, and Advisory. This approach allows us to provide holistic solutions to complex business problems and to seize upon opportunities requiring an integrated approach.

Learn More

Industries

Accounting and tax issues different significantly based on an organization's industry. We provide clients with expertise in nearly two dozen industries – we know the opportunities, the obstacles, the competitive landscape.

Learn more

Insights

CohnReznick professionals are thought leaders in their industries. Clients benefit from relevant and timely economic, legislative and industry insights that can keep them a step ahead of competition.

Learn More

Global Reach

Our involvement in the Nexia International network of firms enables us assist our clients wherever they do business-providing local expertise and connections wherever they needed. Nexia is comprised of 20,000 professionals operating in over 100 countries.

Learn More