When we originally looked at the AMN - Platinum Select acquisition, we only had revenue numbers for Platinum.  At $52m in revenue and $50m purchase price, the deal priced at nominally 1x revenues. 

Now we see, according the the AMN press release, that Platinum had an EBITDA of $4.0m for the year ended December 31, 2007.  This puts the transaction at 12.5x EBITDA (again, no full balance sheet to

Roadlink announced this week that they have acquired West Coast Trucking (WCT).  Roadlink is an Atlanta based firm, while WCT's operations are primarily in Seattle and Oregon.  Both are intermodal service providers.

What Happens to the Employees in an M&A Deal?

This seems to be a question that we field more and more.

AMN Healthcare services announced friday that is would acquire Platinum Select- a travel nurse related staffing firm.

What it Means

The trend continues.  Platinum deal is in the $50m range- which includes a portion paid as an earnout for future performance.

So it would appear that Microsoft - largely a stranger to mega-sized M&A transactions - is ready to knuckle down for a fight.

In a slowly unfolding drama, Yahoo has spruned Microsoft's takeover offer and is now in discussions with Rupert Murdock's Newscorp regarding "strategic options." 

It could be that this is fast becoming a trend: 2 staffing companies at auction on Chapter 7 / 11 proceedings in less than a month. This time around, we see Axium go under the gavel for $8m to MPS Group, Inc.

Take Aways

An argument could certainly be made that the industry is in for a bit of a dust-up as the economy sags.

According to the latest report from PricewaterhouseCoopers, transportation and logistics M&A deals closed at a 20 year high. The firm reported 1,291 deals for the year- topping the record setting 2006 pace.

You couldn't helped but be bombarded this morning by the news that Microsoft has made a rather rich offer to acquire Yahoo!   With all the doom and gloom spreading throughout the street its about time people has something happy to talk about.

Coming off its worst quarter in its history, it appears likely that YRC will formally announce a restructuring plan within the next few weeks.

Each business owner looking to sell his/her business has a different reason for the sale. Yet, some common themes seem to come up. Below we capture 8 scenarios we encounter time and again from our seller clients. More importantly – we explore how they might be perceived from the investor / buyer side of the table!

Reason 1: No Succession Plan.

Yes, everyone is holding their breath and trying to gain an understanding of how the sub-prime implosion will effect the M&A markets. Let there be no doubt: there will be fail out. In the broader equities markets we have clearly seen that- note the carnage throughout this past week. But for an M&A participant (buyer, seller, adviser, etc) - what is going to happen?