Crossroads Capital Grows GovCon M&A Practice using Repperio
Located across the Potomac River from the nation’s capital, Crossroads Capital is a boutique consultancy and M&A Advisory that provides strategic guidance to organizations interested in growing, buying or selling businesses, with a particular focus on those doing business with the U.S. Federal Government. The company provides full-service transaction support and identifies the most ideal buyers and sellers of businesses on behalf of its clients through a rigorous, proprietary search process.
Richard Phillips is the firm’s CEO and leads a team of experienced financial analysts, research assistants and directors. With nearly 30 M&A and other strategic transactions valued at over $6.2 billion to his credit, Phillips has focused on the Technology, AE&C, GovCon and Defense sectors in recent years. “GovCon is big part of M&A activity here in the DC market,” said Phillips. But effective GovCon acquisition research has been a painstaking, laborious process for Phillips and his team. “We had to do all this research manually, which took forever and still was never thorough enough for my own satisfaction—and we always felt like we still missed good targets.”
Widely-used government market intelligence tools were of limited utility to Phillips and his team. “I’ve tried using every tool out there to research potential suitors or targets for my clients, but none of the tools out there were a good fit for our needs. They’re all designed for government business development and they really don’t even do a very good job at that. Their costs are way too high, the products are incomplete and inaccurate, and they’re not the least bit functional for what I’m trying to do.”
“I’ve tried using GovWin but it’s not very useful for me,” Phillips continued. “CapIQ is a great tool for companies doing business in the private sector, but it’s not so great for researching acquisition targets in GovCon.” Phillips even tried building a tool from scratch with his colleagues, but he knew there had to be a way to work faster – and smarter.
When referred to Repperio by a colleague In April 2016, Phillips was excited about the possibilities. “This was exactly what I was trying to build with my colleagues,” he recalled. “My eyes lit up and I knew instantly that Repperio was perfect for my needs.” Phillips was so eager to use Repperio, he began using it when it was still in its beta release. “I knew right away that Repperio was a game-changer for my business. To screen and query target companies based on their government contracting profile would have been so difficult -- if not impossible to do -- without Repperio.”
Applying Competitive Landscape to M&A Research
In very much the same way that government business development teams use Repperio’s competitive insights to win business, Crossroads uses Repperio to identify businesses to buy on behalf of clients and to find potential suitors to acquire the companies they represent on the sell-side. “I take the same approach with GovCon M&A as a BD person takes – I need to know the competitive landscape so I can find the right counterparties. There’s just no other tool out there that can do this like Repperio.”
Tangible Results and Significant Time Saving
In his first full year of using Repperio, Phillips found several targets for existing clients and new business development prospects for new M&A projects. In fact, he now attributes about one-third of his new business to targets Repperio helped identify. “Repperio has made doing M&A in GovCon so much easier,” Phillips proclaims. “I still have to pound the pavement and run our processes, but boy does this save me a ton of time, money, and effort – plus I now have a lot more confidence that I haven’t missed any potential targets that I might not have found through my previous manual research methods. It really is the best prospecting tool for me currently. I love using Repperio, and there’s simply nothing else like it. If you want to operate in GovCon, you need Repperio. It’s invaluable.”
"Repperio has made doing M&A in GovCon so much easier. I still have to pound the pavement and run our processes, but boy does this save me a ton of time, money, and effort…It really is the best prospecting tool for me currently. I love using Repperio, and there’s simply nothing else like it. If you want to operate in GovCon, you need Repperio. It’s invaluable.”
-- Richard Phillips, CEO
Crossroads Capital, LLC