Michael Clain Discusses the Middle Market with Crain's New York Business
The February 10, 2020 edition of Crain's NY Business features a middle market roundtable of thought leaders on a range of pressing issues.
Michael Clain, Partner and member of the Financial Transactions Practice Group, contributed extensively to the conversation. Read the article.
Among many questions posed to the panel, Crain's asked: Besides private equity firms, where can middle-market business owners go for capital?
Michael: In my experience, most businesses (other than technology startups) will consider strategic investors—companies in the same or a related business that are looking for product or market fit, not just financial returns—before they will consider private equity. It’s not surprising, since they’re likely more familiar with industry players than with fund managers. They’re also more trusting of people with operating experience in their industry.
Michael's practice focuses on the structuring, negotiation, and documentation of a variety of credit products, including broadly syndicated corporate loans, asset-based loans, cash flow loans, trade and supply-chain finance, the purchase and sale of individual loans and loan portfolios, and the workout of troubled assets. His clients include money-center and regional banks, foreign banks, investment funds and finance companies.