Meet Our Interns: Celebrating Talent and Growth
MEET CAMERON FREEMANCameron is a finance major and economic researcher entering his third year at the University of North Florida. Born and raised in Jacksonville, Cameron takes pride in working and studying in this vibrant city. A DAY IN THE LIFEWhile Cameron holds the job title of an intern, he considers himse…
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Meet Our Interns: Celebrating Talent and Growth
Meet Hannah Goldfield Our interns are the heartbeat of our daily endeavors at Heritage and our sister company Business Valuations Inc. Their passion and dedication add to our team and elevate it with unique skills, infectious enthusiasm, and fresh viewpoints. Today, we're thrilled to shine a light on one such outs…
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Meet Our Interns: Celebrating Talent and Growth at Heritage
Meet Ashton MonkAshton, a rising junior at Vanderbilt University, is pursuing a major in engineering science and economics and a minor in business. A Day in the LifeAs an integral part of our Heritage team, Ashton supports us by preparing investor presentations, building financial models, and researching precedent…
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Family Business Succession: The right plan starts with an honest discussion
Guest Column from the Jacksonville Daily Record | June 23, 2023 | Bill Sorenson Owning and operating a business can be emotionally and economically rewarding. It also can be emotionally and economically damaging. In the case of a family-owned business, the rewards or damages can be felt for generations. With the r…
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Video Replay - Wealth Manager's Guide to Maximize Business Value for Your Clients
On-Demand Replay Now Available Wealth Managers, we understand that guiding your clients through the intricate process of selling their business is critical to your role. The stakes are undeniably high, and ensuring your clients receive the optimal value for their hard work and investment demands careful consi…
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Mary Merrill Joins Poised for Exit Podcast
Mary Merrill, a principal at Heritage Capital Group, joined Julie Keyes from the Poised for Exit podcast to share her knowledge and experience in exit planning. The discussion focused on balancing personal financial goals and ownership transition goals. Mary covered various topics, including the exit planning pr…
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When is the time right to sell your business?
Click to Download PDF Version You’ve spent years building your business and now you’re finally thinking about selling it. But when exactly is the best time? Getting the timing right is hugely important as it's a key value driver – get it right and it can have a significant positive impact on your company’s value a…
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Distribution sector headwinds are starting to ease
Distribution Spot On - January 2023 Don Wiggins, CEO of Heritage Capital Group and distribution specialist for Oaklins, provides a market overview of the distribution sector by examining four different subgroups in the industry, exploring valuations and trends from the past three years. The Spotlight feature fo…
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Reflecting on 2022. Focusing toward 2023.
As the new year begins, we are excited to share our ‘2022 Year in Review’. Please enjoy this selection of Heritage’s noteworthy transactions, insightful industry reports, and informative webinars. We are deeply honored by the trust that you have placed in Heritage and look forward to 2023! Click here to view t…
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Webinar: Planning on Selling Your Business in the Next Year?
Doug Kravet, Bert Tenenbaum, and Patrick Emmet presented a webinar for business owners considering selling their companies. A recording of the webinar can be viewed on-demand by clicking the links below. Webinar Summary: Are you thinking about selling your business? You're not alone. Every year, 5–10% of busines…
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Five things you need to know about selling a business
If you are thinking about selling your business, it’s important to know what the sales process involves. This will help you prepare and put you in good stead to get the best outcome possible. So, where to start, what’s involved, and what are the critical success factors when it comes to M&A? Knowing what’s i…
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What Goes Down, Must Come Up - The Economy
October 31, 2022 Over 50 years ago, Blood, Sweat & Tears told us, “What goes up, must come down…” with their hit song “Spinning Wheel.” That lesson holds true today, as does the corollary lesson - “What goes down must come up!” Business owners may be focused on getting through tight times now, but preparing fo…
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Selling a Business: How to Get Started
Deciding to sell a business is one of the biggest and most challenging decisions a company owner will ever make. The process involves lots of moving parts, and it’s easy to make a misstep if you haven’t planned ahead. So, what are the key things you need to consider? And how should you prepare and get started to m…
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Bill Prescott Helps Develop Strategic Plan to Transform Jacksonville Park
The Friends of James Weldon Johnson Park (FJWJP), the nonprofit organization that manages Jacksonville's first and most historic public park, recently announced the completion of a three-year plan to transform the park into a dynamic space for the community. Bill Prescott, principal at Heritage Capital Group and F…
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Are we in a recession?
Are we in a recession? It depends on who you ask.With interest rates on the rise and GDP growth on the decline, many Americans fear that if we aren’t already in a recession, we will likely be in one soon. However, the White House argues that even though GDP has fallen, America is not in recession due to too many a…
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Raising Capital for Your Business (Part 1)
Click Here for PDF Version Raising capital either by borrowing using debt or by selling additional equity in your business can be a difficult task. However, you can do it if it’s the right situation, and it can be a great way to grow your business under the right circumstances. Here are some of the issues you shou…
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Raising Capital for Your Business (Part 2)
Click Here for PDF Version Raising capital either by borrowing using debt or by selling additional equity in your business can be a difficult task. However, you can do it if it’s the right situation, and it can be a great way to grow your business under the right circumstances. Here are some of the issues you shou…
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Inflation must be fought by dealing with money supply
Outside Voices - Published in the Jacksonville Business Journal by Don Wiggins | May 13, 2022 Click here for PDF version Vladimir Putin may be a bad guy, but the truth is that he’s not responsible for our overall level of inflation. That dead mouse can be laid at the feet of the Federal Reserve Board. I wrote an …
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Webinar: Inflationary Pressures on Borrowing, Restructuring, and Mergers & Acquisitions
Doug Kravet, Mary Merrill, and Alex Kellison presented a webinar on "Inflationary Pressures on Borrowing, Restructuring, and Mergers & Acquisitions." The past two years have been a challenging time to run a business. Companies are dealing with supply-chain interruptions, rising raw material prices, tight labor…
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Cybersecurity for Business Owners Webinar
Bill Sorenson, principal at Heritage Capital Group, and Paul Dent, founder of Surenomics, LLC, hosted a webinar on "Cybersecurity for Business Owners." It is a commonly held misconception that larger businesses are at a higher risk of receiving cyber-attacks than small to medium enterprises due to the scale of the…
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Q4-2021 Healthcare Industry Trends
Heritage Capital Group is pleased to present the latest edition of its Healthcare Trends Report. This report examines the trends in public market valuations for key healthcare sectors, from services to distributors, and tracks mergers and acquisitions, from 2018 through Q4-2021. We hope you find the report both in…
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2021 Year in Review
As we enter into the new year, we wanted to take a moment to reflect on 2021.We are grateful for the enduring relationships we have with our clients, colleagues, and counterparties. Last year, we worked more closely together than ever to advise our clients and complete deals in an M&A market that continued to …
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How Organizations Can Use M&A to Adapt to a Post-Pandemic Economy - Oaklins' Sponsored Pulse Survey
COVID-19 not only impacted M&A by increasing the volume of deals to unprecedented levels, but it changed how and why the deals are getting done. To understand these fast-changing dynamics, Oaklins sponsored a study by Harvard Business Review Analytical Services that analyzes the future of global M&A. The r…
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Without Fed taking action, inflation will be here to stay
Outside Voices - Published in the Jacksonville Business Journal by Don Wiggins | October 29 Click here for PDF Version That whirring noise you hear is Milton Friedman spinning in his grave. The revered libertarian economist famously said, "Inflation is always and everywhere a monetary phenomenon..." That's exa…
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Spot On Distribution Newsletter - November 2021
Oaklins’ Distribution Specialist Don Wiggins reports on the ups and downs in the distribution sector. On the one hand, it faces ongoing issues resulting from COVID-19 in combination with problems already present before the pandemic. On the other, completed M&A deals rose by 40% in Q2 2021, compared to 2020, al…
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Q3-2021 Healthcare Industry Trends
Heritage Capital Group is pleased to present the latest edition of its Healthcare Trends Report. This report examines the trends in public market valuations for key healthcare sectors, from services to distributors, and tracks mergers and acquisitions, from 2017 through Q3-2021. We hope you find the report both in…
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Don Wiggins Featured in The Daily Record - Thorny Issues in Selling a Company Webinar
October 2021 - A recent article in the Daily Record highlighted Don Wiggins' webinar Thorny Issues in Selling a Company: Saving Yourself Headaches and Heartaches, and Getting the Best Result in an Uncertain Environment. Read the full article here. In this webinar, Don addressed many of the challenges faced when s…
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Q2-2021 Healthcare Industry Trends
Heritage Capital Group is pleased to present the latest edition of its Healthcare Trends Report. This report examines the trends in public market valuations for key healthcare sectors, from services to distributors, and tracks mergers and acquisitions, from 2017 through Q2-2021. We hope you find the report both in…
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Organic & Sustainable Agriculture Spot On
Heritage Capital Group is pleased to present Oaklins' latest Organic & Sustainable Spot On. Feeding a growing and increasingly affluent population worldwide is clashing with efforts to conserve habitats and natural resources. This situation is behind the agriculture industry's efforts to meet the demand for he…
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Q1-2021 Healthcare Industry Trends
We are pleased to provide the Q1-2021 Healthcare Industry Trends Report. In it, you will find industry trends and recent M&A transactions in the healthcare space. We hope you find the report both interesting and helpful. To read the full report, click here
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Oaklins M&A Insights - Investing In a Safe and Healthy Future
Doug Kravet, President of Heritage Capital Group and Oaklins' organic & sustainable agriculture specialist, has successfully advised a wide range of companies across the agriculture supply chain over the past two decades. His article from Oaklins' M&A Insights publication outlines key global trends in the …
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Post-COVID-19 Recovery Forming in M&A
Distribution sector M&A activity is beginning to pick up again as we start to (hopefully) see the light at the end of the tunnel for COVID. In this edition of SpotOn, we revisit the M&A strategy for a leading global healthcare distributor, Henry Schein, which we initially examined back in 2018 before the C…
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Do You Know What Your Business is Worth?
By Don Wiggins | Click here for the article in PDF Format Simple Question - Complex Answer The valuation method used most often by business owners is, “What do I need to retire on?” Unfortunately, buyers never use that method to determine your business' worth. Most business owners don’t have a good idea of what …
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2020 M&A Overview - Building Materials & Distribution
By Don Wiggins - Heritage Capital Group. The Coronavirus pandemic has been nothing short of a violent shock to the global economy that left no industry unaffected. Maintaining the financial strength and resolve to persist through an unprecedented worldwide pandemic demands that companies become creative and use a…
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Q4 2020 Healthcare Industry Trends
We are pleased to provide the Q3 Healthcare Industry Trends Report. In it, you will find industry trends and recent M&A transactions in the healthcare space. We hope you find the report both interesting and helpful. …
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Q3 2020 Healthcare Industry Trends
We are pleased to provide the Q3 Healthcare Industry Trends Report. In it, you will find industry trends and recent M&A transactions in the healthcare space. We hope you find the report both interesting and helpful. …
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What Will Happen to the Transportation & Logistics Industry Post-COVID?
As we've discovered over the past few months, life is uncertain, and we need to be able to adapt and evolve to overcome its challenges. The global COVID-19 pandemic has rewritten the dynamics of international supply chains and domestic trade, impacting transportation industries. Don Wiggins, Head of Oaklins' Logis…
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July 2020 Organic & Sustainable Agriculture Spot On Newsletter
In light of current world events, eating clean and staying healthy is important now more than ever. Doug Kravet, Principal at Heritage Capital Group and Head of the Global Agricultural Sector for Oaklins International, analyzes the current M&A market trends for organic agriculture and the probable aftereffects…
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Digital Strategies Driving the Distribution Landscape
Digital strategies are increasingly essential for businesses across all sectors, and in distribution various trends in that area are driving the industry’s future. These trends and related considerations are explored at length in this new publication from Oaklins’ distribution specialist Alex Kellison. In addition…
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Q4 2019 Healthcare Industry Trends
We are pleased to provide the Q4 Healthcare Industry Trends Report. In it, you will find industry trends and recent M&A transactions in the healthcare space. We hope you find the report both interesting and helpful. …
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January 2020 Organic & Sustainable Agriculture Spot on Newsletter
We are pleased to provide the latest copy of the Organic/Sustainable Agriculture Spot On newsletter. This edition includes all of the typical data that we have been tracking related to M&A deals and industry trends. It also includes a focus on sustainable agriculture in Africa, which gave us the opportunity …
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Bill Nicholson Talks About Sale-Leaseback Transactions
Bill Nicholson, Principal and Chief Compliance Officer, shared his experience in a podcast recently as part of Episode 21 of The Deal Junkies with co-hosts, Rusty Fleming and Lee Hart. In this episode, Bill joins the show to discuss: The rise of sale-leaseback transactions What types of businesses are candidates…
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Spot On Distribution Newsletter - July 2019
Oaklins’ distribution sector specialists Don Wiggins and Alex Kellison report on 2019’s positive valuation trends and shine the spotlight on the successful M&A strategy of SiteOne, North America’s largest supplier of landscaping supplies and the industry’s leading consolidator. With a dedicated M&A team in…
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Heritage Capital Group a "next career" for business leaders
Four of Heritage Capital's principals sit on boards listed on the New York Stock Exchange. Read more here.
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Organic & Sustainable Agriculture Spot on Newsletter
Attached the latest edition of the Organic & Sustainable Agriculture Spot On newsletter. It contains the latest trends regarding the increasing number of agricultural-focused funds. Also, the Wilber-Ellis Company is profiled. To view the newsletter in your browser simply click here.
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Selling Your Business
Selling your business . . . Answers to key questions. What is involved in the sale process? Every sale process is company-specific and therefore unique. Consequently, there is no standard formula for selling a business. However, the sale process can be easily divided into a planning phase and an execution phase. C…
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More "Art than Science"
Staff Report - Jax Daily Record - Tuesday, March 12, 2019 Don Wiggins, Michael Grebe and Josh Kuder comment on the recent ACG event covering Common Contentious Valuation Issues in Transactions, which was held on February 21, 2019 at the RiverClub.
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Heritage Capital Group Releases Bi-annual Organic and Sustainable Agriculture Newsletter
We are pleased to share our bi-annual Organic and Sustainable Agriculture newsletter. With firm roots in local soil but with a global presence, we help you discover the most extraordinary opportunities. Oaklins has extensive knowledge of the dynamic and innovative changes occurring in the global agriculture indust…
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Heritage Capital Releases Third Quarter 2018 Distribution Market Newsletter
We are pleased to share with you our third quarter distribution newsletter. Heritage Capital Group is the global leader for the logistics industry and the Florida USA, member of Oaklins. Click on the image below to view the newsletter in its entirety.
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Going Private . . .
Web.com Group Inc. will be the latest Jacksonville-based company to be taken over by a private equity firm. Why is it happening and what does it mean? Don Wiggins, President of Heritage Capital Group shares his thoughts. CLICK HERE
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Heritage Capital Releases Second Quarter 2018 Distribution Market Newsletter
We are pleased to share with you our second quarter distribution newsletter. Heritage Capital Group is the global leader for the logistics industry and the Florida USA, member of Oaklins. This edition includes a market overview and further segmentation of the sector, public company valuations and trends, recent M…
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A Buyer has Approached Me About Buying My Business....Now What?
By Bill Nicholson- At Heritage Capital Group in Jacksonville, Florida, we have had several situations where a company that was not for sale has been approached by a buyer about a business buy transaction. The buyer may either be a principal in a private equity group, an in-market or out-of-market competitor, or …
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Top Five Reasons to Run Your Business Like an NFL Franchise
By Bill Prescott - A perspective by Bill Prescott, who recently joined Heritage Capital Group, an investment banking firm headquartered in Jacksonville, Florida. Prior to joining Heritage, Bill was the Chief Financial Officer and Senior Vice President of Stadium Operations for the Jacksonville Jaguars NFL franchi…
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A Quick & Long-Term Economic Boost
By Don Wiggins- Jacksonville, Florida. Like millions, I have thought a lot about what the U.S can do to end the current recession and guard against the next. I keep coming to the same conclusion. What characteristics would an ideal economic boost have? Well, it should be quickly achievable. It should be long-term.…
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If I am Considering Selling My Business, Should I Handle it Myself or Engage an Investment Banker?
By K.C. Caldabaugh - Jacksonville, Florida. For a privately owned business, the decision to sell your business is one of the most important and often gut-wrenching decisions you will make. In many cases, the owner will have devoted the better part of his or her adult life to building the business, and the decision…
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A Universal Business Valuation Model for Closely Held Businesses
C. Donald Wiggins, D.B.A., ASA, CPA, CVA*Dilip D. Kare, Ph.D.**Jeff Madura, Ph.D.*** There is a belief among many appraisers and others involved in the valuation of closely held businesses that no single formula exists that will value a business under all circumstances. In fact, the primary guide for appraisers …
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Business Valuations of Interest Rate Swaps for Financial Reporting Purposes
By Thomas L. Barton, Ph.D., CPA Douglas M. Kravet, M.B.A. C. Donald Wiggins, D.B.A., ASA, CVA, CPA/ABV, CEPA Introduction Heritage Capital Group, Jacksonville, Florida. Interest rate swap agreements are widely used by both publicly traded and closely held companies. The market for these agreements has increased …
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How to Estimate the Effect of a Stock Repurchase on Share Price
By Dilip D. Kare and C. Don WigginsManagement Accounting By Don Wiggins- Jacksonville, Florida. What is the smallest amount of stock you need to repurchase in order to prevent the share price from decreasing? Each year, many companies buy back some of their own stock. They repurchase it instead of issuing regula…
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Intra-year Cash Flow Patterns: A Simple Solution for an Unnecessary Appraisal Error
By C. Donald Wiggins (Professor of Accounting and Finance, the University of North Florida),B. Perry Woodside (Associate Professor of Finance, the College of Charleston), andDilip D. Kare (Associate Professor of Accounting and Finance, the University of North Florida)The Journal of Real Estate Appraisal and Econom…
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Matching Cash Flows and Discount Rates in Discounted Cash Flow Appraisals
By C. Donald Wiggins, D.B.A., ASA, CVA, CPA/ABV, CEPA IntroductionHeritage Capital Group, Jacksonville, Florida. There are many conceptual and practical problems inherent in the business valuation of a closely held business using discounted cash flow (DCF). One of the most critical and basic decisions an appraiser…
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A Structured Approach to Growing Your Business through Mergers & Acquisitions
By Doug Kravet- Jacksonville, FL. One of the fastest ways to grow your business is by purchasing another company. Growth through acquisition can transform your business, and assist you in achieving goals such as expanding geographically, diversifying your customer base, and adding depth to your management team. W…
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Ponzi schemes: Avoiding investment disaster
By Don Wiggins- Jacksonville, Florida. We’ve recently seen story after story of investors getting ripped off by Ponzi schemes. Bernie Madoff has by far been the most visible, but there are many other crooks who try to strike it rich by convincing other people that they can help them strike it rich. During tough ec…
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Selling a Business Now May Make Economic Sense
By Don Wiggins- Jacksonville, Fl Values for public and private companies are frequently expressed as a multiple of earnings, cash flow, or some other performance measure, and there is no question that over the past year or so, multiples for companies being sold have gone down. A resulting phenomenon has been one s…
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Business Valuation Hot Topic: The Economic Impact of Taxes on S Corporation Values
By C. Donald Wiggins, D.B.A., ASA, CVA, CPA/ABV, CEPA Heritage Capital Group, Jacksonville, Florida. One of the most highly debated topics in business valuation is the treatment of income taxes in valuing S corporations. There are two extreme positions on this point. The first is to include no income taxes at …
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The Stimulus Package’s Problem is Physics
Don Wiggins - Heritage Capital Group, Jacksonville, FL. Recently, the big news in the U.S. has been company failures, bailouts, falling stock and real estate prices, and stimulus packages. The government can supposedly “jump-start” the economy by company bailouts, infrastructure projects, “short-term” assistance p…
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This Recession Packs a Double Whammy on Consumer Spending
By Don Wiggins - Jacksonville, FL. Consumer spending accounts for about 70 percent of the U.S. economy, so it’s a big deal. What consumers are currently spending and surveys about their confidence in the future affect the stock market, business inventory purchases, and a host of other forward-looking factors. O…
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