In the last year, Beacon has seen a rise in company buying and selling activity. This cycle is beginning to resemble the high-price multiple run witnessed in 2005-07. The activity is fueled by the return of the profit. Larger companies and other private capital are seeing closely held businesses as an alternative means of achieving greater returns on their investments. Banks are also beginning to loosen their underwriting criteria, unleashing low-interest loans.
These trends usually come in waves lasting six to eight years. History dictates that a possible crest to