At FE International, we are concerned about the developing issues related to the coronavirus. I wanted to take a minute to personally share an update about what we are doing as a company to ensure our services continue without interruption.
We pride ourselves on our quality of service and ability to consistently deliver safe, secure, and successful transactions for our international client and investor base. As a relationship-based firm, we greatly value face-to-face meetings with our clients, but we are firmly prioritizing the health of our clients, employees, and other stakeholders at this time. As such, we made the decision to postpone LTV Conf 2020 until later in the year, and all in-person client meetings have been limited to an as-needed basis.
As a rapidly scaling firm, we have invested heavily over the past decade in a robust cloud-based IT infrastructure and systems, which has enabled our team to move to a fully remote model on a temporary basis. Our New York, San Francisco, and London offices remain open but, we are actively encouraging our team members to work from home.
The market remains strong, and activity levels continue to be at an all-time high – last week we saw more than $40MM in completed acquisitions and we expect to see little change in demand in the coming months.
For buyers, there has never been a better time to buy a business that can be operated remotely and generates consistent cashflow. The majority of businesses we represent are not affected by macro-economic trends and thrive where other businesses that rely on physical footfall, struggle. Whilst values of big, public companies will fluctuate in the coming months, we do not expect to see that in the online space where more and more buyers will be looking to pull the trigger on a business unaffected by the current tumultuous times.
For sellers, the value of building a cashflow positive business will start to become apparent in the coming months. Buyers will be attracted by stable cashflows so we would suggest keeping focused on your business and try to avoid being distracted by what is going on elsewhere. History shows that we will get through this, particularly if you run a lean business with revenues that are generated online.
We will continue to follow all of the directives and updates outlined by the World Health Organization (WHO) and the Center for Disease Control (CDC) and will update if anything else changes.
Thank you for putting your continued trust in our M&A services.