As we head into our 23rd year in business, we are thankful to reflect on the record year we had in 2021. First and foremost, thank you to our clients, as your success is our success. We are grateful to work with so many amazing entrepreneurs, family businesses and private equity portfolio companies who have built high-quality growth companies with which we are honored to be associated.
Second, we have a deep appreciation for all of our partners in the deal-making community, who we rely on to assist us and our clients on legal, accounting, quality of earnings, tax, finance, and financial advisory matters. It takes a village to make successful transactions happen, and we are thankful to have first-class partners aligned with us to deliver the best outcomes for our clients .
Finally, thanks to the Cascadia employees, especially our dedicated team of execution bankers, for the all-in effort last year to maximize value for our clients, while expanding our platform in the Northwest and nationally. As we reflect on an extraordinary year in 2021 and forecast ahead for the coming year, we will continue to invest in expanding our geographic reach and industry expertise in 2022 and beyond.
With the support and partnership of our clients and partners, and a historic M&A market, Cascadia closed 51 transactions in 2021. If you are interested in more information on our 2021 transactions, you may download a complete list below.
- As a national middle market firm, 60% of our 2021 clients were headquartered outside of the Northwest
- 60% of our clients were acquired by strategic buyers and 40% by private equity firms, as we have deep access to the broad universe of buyers
- 30% of our clients were institutionally-backed pre-transaction
- 65% of our transactions were M&A, 20% were equity capital raises, and the remainder strategic advisory mandates
- 20% of our clients were headquartered in California, which we view as major growth market for the firm in the coming years
- Geographic expansion was ongoing with the addition of a Nashville team and our growing Southern California office
The Value of Industry Sub-Vertical Expertise
Our team has long held deep expertise and transaction experience in niche segments across a variety of industries. We remain committed to our sub-vertical industry structure, with each of our bankers focusing tightly on specific segments of an industry. This allows us to provide the most innovative and expertise-driven service for our clients, as well as to align the right individuals within our network, across industries of common focus.
We remain bullish on the prospects for 2022 and look forward to working with you all in the coming year ahead. Please reach out if there is any way we can be helpful.