June 23, 2022, San Francisco, CA. Newport LLC (“Newport”), a national provider of value creation and transaction advisory services to middle market companies, announces key changes in the expansion of the firm’s Merger and Acquisition (M&A) Advisory Services practice.
Following on the successful financial advisory engagement of the sale of Pediatric Therapeutic Service Inc. (“PTS”) to publicly-traded Kelly Services Inc. (Kelly), where Newport acted as the exclusive advisor to PTS, Newport CEO, Kevin Poole, announced the appointment of David Traversi as the firm’s National Managing Director of the its M&A Advisory Services practice. Under Traversi’s leadership, Newport will be recruiting senior M&A Advisory team members across the U.S. to expand the firm’s M&A advisory capabilities.
Poole noted, “These changes are among several Newport has implemented in the first half of 2022, all designed to better serve our middle market clients who generally seek to either increase their value or, at some point, monetize that value in a sale transaction. David Traversi, with a career as a transaction advisor that goes back over 30 years, beginning with his years as a General Partner at Montgomery Securities (now Banc of America Securities) in the 1990s and continuing in the new millennium with his own FINRA-licensed advisory firm, has advised on hundreds of transactions and, more important, knows how to build a powerful national practice. He is already looking for senior partners with a passion for and extensive experience in the lower middle markets, broadly defined as companies worth between $20MM and $200MM.”
Diana Fongheiser, former Co-Founder and Managing Partner of Pediatric Therapeutic Services Inc., offered, “David Traversi was our sole exclusive advisor who worked with us from “cradle to grave” in managing the sale of our company. We quickly got to know him, liked him, and, most importantly, trusted him. With that basis, he expertly structured a transaction process that was transparent, organized, and ideal in all respects for achieving our objectives. He managed the process with the utmost integrity, diligence, and expertise, and we ultimately sold to a publicly-traded company on optimal terms. He may well be the best sell-side advisor serving the lower middle market. Our transaction could not have been handled better.”
Traversi added, “The PTS sale was a milestone event for Newport. We managed an institutional-quality sale process that generated significant buyer demand and resulted in optimal terms for our client. And it galvanized our place among the leading M&A financial advisory firms in the U.S. I look forward to adding to our national team in coming months.”
Newport is a national strategic advisory firm that helps founders, owners and CEOs of middle market companies grow and build enterprise value, often in anticipation of a liquidity event, capital raise or succession plan. Newport has partnered with hundreds of growth stage companies to implement its signature Value Acceleration Program or to serve as board directors, strategic advisors or fractional executives.