PW&Co, a Birmingham investment bank, served as the buy-side advisor to a consortium of credit unions in the acquisition of a print brokerage and management firm (“the Company”). PW&Co’s investment banking team was led by Michael Stone with support from Zac Venos and Ross Walker. The Company provides graphic design, printing services, promotional items, office… Read More >
News & Insights
PWCO Promotes Michael Stone to Managing Director
Michael Stone has been promoted to Managing Director of Investment Banking for PW&Co. In Michael’s 12 years with the firm, he has worked in all aspects of the firm’s business activities, including mergers and acquisitions, capital raising, municipal advisory, strategic consulting, business valuations, and distressed situation advisory. Michael formerly served as Director of Investment Banking… Read More >
SECURE Act 2.0: Highlights for Employers and Savers
The SECURE 2.0 Act was signed into law on December 29, 2022, and the implications for both business owners and savers are prevalent. Some of the important highlights include potential savings for employers, the increased emphasis on Roth options, and the additional savings assistance allowed for savers within plans. The legislation builds on the Setting… Read More >
PW&Co Advises on Acquisition of an Insurance Brokerage Company
PW&Co served as the buy-side advisor in the acquisition of an insurance brokerage firm (the Target) by a credit union service organization (CUSO). PW&Co’s investment banking team was led by Michael Stone with support from Zac Venos and Ross Walker. The CUSO was interested in acquiring the Target to retain its owner and to acquire its… Read More >
What’s It Worth – Q3 2022
Despite a record setting year in 2021, M&A activity is being challenged by macroeconomic and geopolitical headwinds. Rising interest rates and inflation rates are putting downward pressure on pricing metrics in both the public and private markets. Public markets are taking the hardest hit in 2022, as economists and industry professionals are signaling for a… Read More >
Municipal Market Update – Q3 2022
Macroeconomic pressures characterized the market during the third quarter of 2022, as investors and issuers continue to grapple with a rising rate environment. Treasury and MMD yields continue to rise from the pandemic-era lows and the Federal Reserve Board has indicated it will maintain its aggressive monetary policy tightening until inflationary pressures are in check…. Read More >
Georgia Banking Almanac – 2Q22
We are pleased to present the latest installment of Banking Almanac, a comprehensive report on all Georgia banks and thrifts with data as of and for the twelve months ended June 30, 2022 as well as a comprehensive view of Community Bank performance, defined as banks with less than $2B in assets for banks in… Read More >
“Great Time to Be a Seller”: Takeaways from ACG M&A South
Last month, Porter White attended the ACG M&A South Capital Connection in Atlanta, along with over two-hundred private equity firms, investment banks, and other capital providers. The story we have heard for years continued – competition to invest capital and close deals has continued to drive up valuation multiples and the private equity market is… Read More >
Are a Few Low-Cost Investment Options Enough?
Some 401k Plan Sponsors have taken the approach of providing a broad range of investment options hoping that providing a few, low-cost index funds would fulfill their fiduciary duty to monitor fees and expenses of their plan. The logic here was that a participant is free to choose between low cost and higher cost investment… Read More >
PW&Co Completes Sale of Franklin Iron Works and Alabama Casting
PW&Co, a Birmingham Investment Bank, acted as the exclusive sell-side advisor to Franklin Iron Works, Inc. and Alabama Castings, LLC (collectively “Franklin Iron” or the “Company”) in their sale to Druid Capital Partners and Elyton Capital. Based in Thorsby, AL, Franklin Iron was founded in 1975 as the Tommie Corporation, and is a leading… Read More >
Municipal Market Update – December 2021
The Bipartisan Infrastructure Deal and expectations for possible tax increases served as a catalyst for a strong month in the municipal bond market. Treasury yields are rising heading into 2022 and the Federal Reserve Board reaffirmed their target rate range of 0.0 to 0.25 percent. Consensus estimates expect rates to reach upwards of 0.9 percent… Read More >
Should I Check the Per Stirpes Box?
Many people save for retirement in a defined-contribution retirement plan (like a 401k) or an individual retirement account (traditional or Roth IRA). It is important to designate beneficiaries for accounts. The forms, often seemingly simple to fill out, have hidden complexity. You are likely to encounter the words “per stirpes,” which means “by roots” in… Read More >
Effects of Automatic Enrollment in Plan Design
In our recent investment commentary, we highlighted research regarding plan design and plan participants. The research clearly highlights the effects that plan design can have on plan participants and retirement outcomes. While the study largely confirms that automatic enrollment has a strong effect on participant saving and investing behavior, it also alleviates fears that many… Read More >
Municipal Market Update – October 2021
Our Municipal Market Update is data-driven, one page sheet that is intended to give you an overview of key interest rates – floating as well as the credit spreads of key local and state entities with data as of October 31, 2021. It is written for those making credit and investment related decisions for municipalities and non-profit… Read More >
Municipal Market Update – September 2021
Our Municipal Market Update is data-driven, one page sheet that is intended to give you an overview of key interest rates – floating as well as the credit spreads of key local and state entities with data as of September 30, 2021. It is written for those making credit and investment related decisions for municipalities and non-profit… Read More >
Municipal Market Update – August 2021
Our Municipal Market Update is data-driven, one page sheet that is intended to give you an overview of key interest rates – floating as well as the credit spreads of key local and state entities with data as of August 31, 2021. It is written for those making credit and investment related decisions for municipalities and non-profit… Read More >
Birmingham Area Economic Report, Q2 2021
This report explores a few key statistics that paint a picture of the Birmingham area economy. Our Birmingham Area Economic Report places the Birmingham area economy in a state, regional and national context. Click here to download the full report with a more in-depth look at the statistics. The charts below show a snapshot of… Read More >
Municipal Market Update – July 2021
Our Municipal Market Update is data-driven, one page sheet that is intended to give you an overview of key interest rates – floating as well as the credit spreads of key local and state entities with data as of July 31, 2021. It is written for those making credit and investment related decisions for municipalities and non-profit… Read More >
