Situation Overview

Heather Morris Kyer and Steve Mersky, a wife and husband team, founded Hawkins Point in 2012 and built it into an incredibly successful Life Sciences-focused business and technology consulting company. Hawkins Point’s services solved business challenges across every stage of the drug development continuum and the patient journey, from early stage research to full commercial operations and beyond.

Heather has been a rocket ship in the industry. A large life sciences company originally encouraged Heather to start her own firm and committed to become Hawkins Point’s first client. The business was born and took off from there. Hawkins Point’s committed client base read like a “Who’s Who” in the Life Sciences arena.

When Covid struck, the owners reevaluated their personal and professional futures and looked to Carl Marks Securities for a solution.

Sales Process

Carl Marks Securities ran a sell-side process incorporating potential strategic and financial buyers who had experience in the life sciences consulting industry and were interested in Hawkins Point’s leading market position and growth trajectory.

Heather and Steve were highly committed to finding the right buyer for their employees. Throughout the sale process, we repeatedly heard the owners talk about the firm’s strong culture by saying Hawkins Point hired, “Kind hearted people that are great at what they do.” At the time of its sale, Hawkins Point employed over 100 business and technology professionals in a salary-based model. Hawkins Point had strong brand equity with premier talent acquisition capabilities to attract and retain top Senior Management Consultants with Life Sciences expertise.

Results

*Carl Marks was able to find a sponsor-backed strategic partner who simultaneously gave our client the financial exit they had hoped for while providing a growth platform and common culture for their employees.

After a competitive bidding process, Hawkins Point decided to partner with Verista and its financial sponsor, Lightview Capital. Hawkins Point was a natural extension to Verista’s scope of services and capabilities in compliance, automation and validation solutions. Hawkins Point also broadened Verista’s geographic footprint into New England. Under Verista’s umbrella, Hawkins Point’s committed relationships with an increasing number of large strategic clients ensured that the combined companies will continue delivering exceptional results.

Insights

The entire sale process was fully remote. From the pitch, to marketing material development, to buyer outreach, to due diligence, to deal closing, took place virtually. With video conferencing, our team at Carl Marks had more face time with Heather, Steve, and the Hawkins Point team than we might have had otherwise.

During Covid, financial sponsors have been increasingly interested in acquiring add-ons for existing portfolio companies. Sponsors have already made substantial investments in their existing portfolio companies and are most familiar with the nuances of these respective industries, which offsets risks and uncertainty.

*Securities offered through Carl Marks Securities LLC, member of FINRA and SIPC.
**Results are representative of past performance and are no guarantee of future results or success.