As we reflect on our 2021 year and look forward to 2022, it seems like an appropriate time to take stock of exciting progress and to look ahead to an even more exciting future. We feel fortunate and grateful to have terrific clients and an amazing team.
The past year was a time of significant growth for Harbor View. As you will see on the following pages, we welcomed many new team members, launched two new industry practices, grew our Navigate CFO Services business by 100%, and executed eight successful transactions. We are excited to now be able to offer industry expertise in the Financial Services vertical, where many segments such as wealth management, retirement services and insurance brokerage are experiencing meaningful tailwinds and seeing active consolidation. Likewise, we are enthusiastic about the outlook for our new Industrial Tech practice, where niche manufacturing, factory automation and logistics are just a few of the many areas of the industrial market that are undergoing significant transformation and attracting capital flows and strategic buyer interest. Our long-standing verticals of HR Tech, FinTech and Professional Services continue to benefit from powerful and positive secular trends.
We have been fortunate over the past few years that Harbor View and our clients were able to navigate the pandemic and its economic impacts with minimal disruption. We are mindful, however, that many were not so fortunate. It was important for us to step up our community involvement during this challenging time, and we would like to recognize the efforts and generosity of all our team members who enthusiastically participated in that effort.
As we look toward 2022, we anticipate another year of significant growth. We will be moving into a new Harbor View home by year’s end, and are excited to welcome our clients and friends to our new office. We also remain committed to growing our team. We have an exceptional class of new analysts who will be joining us in August. The Summer Intern class of 2022 adds a cohort of 5 more great recruits and brings our 15 year total to over 50 Summer Interns! With our new expanded space, we will have the room we need to continue to grow in the future.
Thanks to all of you for the confidence you place in us to advise and represent you during some of the most important moments in the life of your company. Please know that trust is something we take very seriously and work to earn every day.
We wish you much health, happiness and success in the year ahead.
Our Best Regards, John, Carolyn and Michelle
local charities supported 2 Board appointments transactions
members 40 published content pieces
promotions 3
OUTCOMES
Harbor View combines the best of investment banking and management consulting to help our clients see the possibilities, and we work hard to achieve their goals. A change in perspective changes everything. We serve software-centric, service-focused and technology-enabled clients in the middle market.
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“We‘ve reached a major milestone in the BlueStar journey,“ said Tim Werner, Founder and President of BlueStar. “Our focus has been to deliver sharp, smart and transparent services to our advisors and partners. By joining Ameritas retirement plans, our collective models will deliver the solution stack and service excellence we‘re both committed to providing.“
Harbor View Advisors served as the exclusive financial advisor to BlueStar.
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CultureIQ advised by:
Alluvion advised by:
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North Avenue Capital advised by:
BlueStar advised by:
Alden Research Laboratory advised by:
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The Big Know advised by:
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U.S. Mobile Health Exams advised by:
NEW VERTICAL SPOTLIGHT: INDUSTRIAL TECH
Technology advancements are changing every facet of industrial production. Innovation has reshaped the way products are designed and manufactured, the way data is captured, analyzed and shared in real time, the way raw materials are sourced and the way finished goods are distributed. New technologies are also impacting the quality and delivery of services provided by a myriad of industrial and business service providers.
The impact of these advancements is broad-based and wide-ranging. We are seeing increased automation and enhancements in logistics, processes and forecasting create efficiencies and improve productivity, output, quality, and workplace safety. These transformational advancements have led to growing interest from investors and acquirers, increasing both investment and consolidation.
“The Industrial Tech space continues to advance, evolve and innovate. With so much market interest to acquire and consolidate, it is an exciting time to build and lead a practice area around this vertical. Harbor View’s unparalleled commitment to client care and successful outcomes, has enabled us to provide the highest level of service.”
- Nate Shepherd, Managing Director
Harbor View‘s Industrial Technology Practice Works with Companies that Focus on:
AUTOMATED SOLUTIONS
• Robotics
• Specialty Equipment & Devices
• Sensors & Data Capture
• IIoT / Related Technologies
INDUSTRIAL & RELATED SERVICES
• D&E / T&M
• Logistics Services
• Facility & Site Services
• Staffing & Workplace Safety
TRADITIONAL INDUSTRIAL
• Manufacturing
• Value-Added Distribution
• Coating / Material Processing
• Installation & Construction
NEW VERTICAL SPOTLIGHT: FINANCIAL SERVICES
Consolidation and technology adoption in the Financial Services space is accelerating at a rapid pace. At Harbor View Advisors we combine decades of M&A expertise with industry operator experience. We have been in your shoes, and we know the market.
Our Advantage:
• Industry Operator Expertise that has “Walked in Your Shoes”
• Extensive Industry Leadership Experience across Multiple Business Models
• Appreciation of the Seller’s Journey with the Perspective of what Buyers’ Value
• Large Wall Street Firm Experience Providing Boutique Firm Attention
“In its first year, it has been rewarding to see our Financial Services Practice be actively engaged in each of its sub-sectors, on both the sell-side and the buy-side. Clients appreciate our industry operating experience that complements our ability to listen and truly understand their business as part of delivering a great outcome. It is a privilege to be part of the Harbor View Team as we continue to grow our practice and make a difference for clients.”
- Doug Moffitt, Managing Director
Harbor View’s Financial Services Practice Works with Companies that Focus on:
i . w ealth m anaG ement
• Fee Only RIAs
• Hybrid RIAs
• State-Regulated Trust Companies
i V. a sset m anaG ement
• Traditional
ii . r etirement
• 401K Providers: 3(38), 3(21), 3(16)
• Record Keepers
• Third Party Administrators
• MEP & PEP Providers
• Alternative V. s P ecialty F inanace
• Non-Bank Lenders
iii . i nsurance
• Insurance Brokerage
• InsurTech
THOUGHT LEADERSHIP
Introducing Our Quarterly Reports
Harbor View Advisors was pleased to release the first Human Capital Management and Industrial Tech Quarterly Reports in 2021.
Insight Spotlight on MortgageTech
MortgageTech – Record-Breaking M&A Despite the Refi Calamity
This is very likely to be a tumultuous year in MortgageTech & Services. The past two years were HUGE with over $20 BILLION in transaction value, with M&A driving more than half of the action including two mega-deals – the ICE/Ellie combination in 2020 and CoreLogic/ Stone Point go-private in 2021. We’ve already had a $1 billion transaction in February, and we expect at least a mega-transaction per year as the industry consolidates on the natural scale advantages.
As for the M&A trends this year, our industry checks suggest healthy acquisition appetites fueled by successful PE fundraising and enlarged company cash balances.
Case Study Success for NAVIGATE
Case Studies were our highest performing asset for our NAVIGATE CFO Services practice area, and we are proud to showcase some of our client’s success stories.
“Over the past two years we’ve really honed in on our firm’s voice and content marketing strategy. We’ve been able to translate industry conversations and insights into something we can use to help educate others and set ourselves apart as industry experts. Naturally, it's resulted in further conversations, connections, and opportunities, which is marketing nirvana.“
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Alex Woeste, Marketing Manager
Insight
Spotlight on Financial Services
Recent Learnings from RIA Buyers
2021 was another record-setting year for the Wealth Management and RIA space. During the past twelve months of unprecedented activity, we’ve had the opportunity to speak at length with decision-makers at many of the most active acquirers and investors in the industry. Through these conversations, a “mosaic” has emerged about the collective thinking and strategic positioning of prominent industry participants.
PEOPLE HIGHLIGHTS
2021 Promotions
MICHELLE MCCULLOUGH Partner & CFO Team: NAVIGATE
ANNE ZEHIL Senior Associate Team: FinTech
New to the View in 2021
NATE SHEPHERD Managing Director Team: Industrial Tech
AIRHEART Analyst Team: Financial Services
Director Team: Financial Services
IFTIME Analyst Team: HCM
BROWN Vice President Team: NAVIGATE
ALEXANDRA WOESTE Marketing Manager Team: HVA
Analyst Team: HCM
DEMETRIUS GRIGSBY Director Team: NAVIGATE
LATHION Analyst Team: Industrial Tech
DOUGLAS MOFFITT Managing
TYLER A. EURE Senior Associate Team: Financial Services
SUZI
MATT
BERNARD NERET III
TATIANA
ASHLEY
Board Appointments
“Harbor View’s recent workplace awards showcase the firm’s commitment to employees at every level from analyst to managing director. I’ve held many roles at Harbor View over the past 8+ years, and the firm has prioritized development opportunities throughout. I’m very pleased to see the firm recognized for its dedication!“
-Margaret McCormick, Vice President
2021 Awards
NICHOLAS MIGNONE Community Chair
CAROLYN MATHIS Chairman
THE HAPPS
Our Offsite
Our annual offsite retreat was a great success. We reflected, shared and celebrated 2021. We also strategized and planned for a big 2022.
Lunch n’ Learns
Always learning. We often get together to cheer on accomplishments, explore new tools and deep dive into our vertical focuses.
We sponsored, particpated and volunteered for a local Cancer charity in June 2021.
Group Outings
You will find us always supporting our local teams. Go Jags! Go Shrimps! Go Icemen!
The Chemo Noir Race
IN OUR COMMUNITY
Our clients span the country, but we also pay attention to what’s important at home. Harbor View is dedicated to building a vibrant, inclusive business community in Jacksonville. Whether through sponsoring events, helping new grads, or serving on boards, we strive to give back and get involved.
This holiday season we raised $4,000 via an employee match to Feeding Northeast Florida’s virtual fundraising event. This provides meals for those in need in our community.
