August 25, 2008
In this industry report on M&As, Max Crane, Managing Partner, stated:" The economy has flattened and maybe it's going down, but we have diverse practice areas, so we are going to do fine." He continued to say: "Our firm usually deals with transactions in the $100 million to $600 million range...Those are still happening because there is not as much heavy need for borrowing." He cited as another reason for the firm's brisk M&A work: "We have a lot of overseas clients that are on an acquisition binge...Their currency beats our currency these days." The article mentioned the firm's recent handling of a deal where Bradley Pharamceuticals was bought by Nycomed, a foreign-based corporation, for $346 million.