Richard C. King Jr.

Another Reason .com Rocks One key reason the .com TLD continues to dominate is that many ccTLD and gTLD operators have overly complex, outdated, and investor-unfriendly terms and conditions. If a TLD/ccTLD/gTLD aspires to be among the best, it should take notes from the one that consistently leads the way (".com").

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I'm excited to share the latest iteration of Lincoln International’s Private Market Index. The LPMI posted another quarter of solid growth in Q2 2025, increasing 2.5% despite ongoing macroeconomic uncertainty.   Here's what the data tells us:   📈 Steady earnings growth: Two-thirds of private companies in our index grew both revenue and EBITDA, with technology and business services leading the charge at 9.2% and 7.0% growth respectively.   🎯 Quality commands a premium: While average multiples have moderated from 2021 peaks (12.6x to 11.9x), the best companies are still fetching multiples as high as 25x. This bifurcation tells a clear story that excellent assets get rewarded.   💪 Private markets prove their stability: Yes, private markets underperformed the S&P 500's 10.6% gain in Q2, but they didn't experience the volatility public markets saw in Q1. For the first half of 2025, the LPMI is up 4.8% versus the S&P's 4.4%.   The question isn't whether private companies are growing, it’s whether they're creating real equity value for investors amidst this changing landscape.   Read the full report to learn more: https://lnkd.in/gEVJ3M-D   #PrivateMarkets #PrivateEquity 

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Auxo Investment Partners Welcomes Bay Cast to the Family We are pleased to announce the acquisition of Bay Cast, a premier provider of large-scale precision steel castings and machined components. Headquartered in Bay City, Michigan, Bay Cast has delivered mission-critical solutions to the space, defense, marine, and energy sectors since 1987, with roots tracing back to 1896. The company’s advanced capabilities and technical expertise have earned the trust of industry leaders including SpaceX and the U.S. military. The Holman family, Scott, Max, and Jason, will remain at the helm, retaining significant ownership and continuing Bay Cast’s long-standing commitment to quality and innovation. Welcome to the Auxo family, Bay Cast. We’re excited to grow together. https://lnkd.in/eYiG4Tm2

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SEC Orders Capital Market Operators to Renew Registration from January 1, 2026 The Securities and Exchange Commission (SEC) has issues directives to all capital market operators (CMOs) to renew their registration between January 1 and 31, 2026, as part of efforts to strengthen compliance and improve regulatory efficiency. The Commission also reaffirmed that electronic receipt and processing of applications for registration and updates of registration information will commence in the first quarter of 2026, to make the exercise more seamless. Director General of the SEC, Emomotimi Agama, disclosed this during an interview in Abuja at the weekend, noting that the measures are part of the Commission’s broader digital transformation agenda. According to Agama, “These initiatives reflect our commitment to leveraging technology for faster, more transparent, and efficient regulatory processes. The Commission is taking deliberate steps to make regulatory processes faster, more transparent, and technology-driven. We are investing in automation, databased supervision, and secure infrastructure to improve how we interact with the market.” He explained that through the SEC Digital Transformation Portal, registration and licensing processes have been automated end-to-end, allowing operators to submit applications, upload documents, and track approvals online, thereby reducing manual processing time and limiting the need for physical visits to the Commission. Agama added that the Commission has also introduced a Commercial Paper issuance module, which enables operators to file documents, monitor progress, and receive approvals electronically. He said early user feedback shows improved turnaround time. “Work is ongoing to automate quarterly and annual returns submissions, with structured templates and system checks to ensure accuracy. A returns analytic dashboard is also in development to support risk-based supervision and exception reporting,” he said. To support the digital shift, the Agama said the Commission is upgrading its IT infrastructure, including servers, storage, networks and security layers, to enhance speed and reliability. He noted that selective cloud migration is underway for platforms requiring scalability and external access, while core internal systems remain on-premise for now, pending further assessment of security and cost implications. Agama also revealed that the Commission is strengthening data integrity and cybersecurity through vulnerability assessments, with plans for penetration testing once automation and migration phases stabilize. “These efforts show our commitment to building a modern, resilient regulatory environment that supports efficiency, investor confidence, and market stability,” he said. Continuation on comment section

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When a Seller Becomes a Buyer Timing is a key consideration for M&A. No seller should be compelled to pursue a transaction unless she is truly ready. Selling a business requires ample preparation so that positioning is optimal and valuation can be maximized.   In some cases, a company would be better off keeping the business for a little while longer, growing revenue and improving margins prior to pursuing a sale.    ·   Generally, growth can be achieved by either organic growth or inorganic growth (i.e. acquisitions).  If a company’s current valuation is not where the owner wants it to be she may want to consider making an acquisition before selling the business. ·   Given time, integrating the acquisition while realizing revenue and cost synergies would be ideal. However, this is not always necessary. If an LOI is signed, an astute investment banker can pro forma the opportunity on a combined basis in a manner which clearly highlights the benefits of the acquisition (1 + 1 = 3) and with scale the multiple upon exit can expand.   This strategy is especially relevant during uncertain times when there may be more motivated sellers open to opportunities.   So the next time you're told, “now is the perfect time to sell”, take a step back and consider the options. Maybe being a buyer first would make more sense. Calabasas Capital Association for Corporate Growth (ACG) ACG Los Angeles ACG 101 - Association for Corporate Growth 101 Corridor Association for Corporate Growth - ACG San Diego ACG San Francisco ProVisors #mergersandacquisitions #lowermiddlemarket #investmentbanking #privateequity

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🏰 The Moat Has Moved 🎆 Starlink Just Claimed Vertical Independence For decades, #spectrum was the ultimate moat. It is scarce, expensive, and the cornerstone of #MNO power. That model just cracked. 💰With its $17B acquisition of spectrum approved for terrestrial #5G from EchoStar Corporation, Starlink secured the regulatory foundation to become a terrestrial 5G operator. This gives Starlink the right to build terrestrial gateways, light up small cells, and operate as a Hybrid Network Operator #HNO. A direct challenge to the MNO model without the legacy grid. Starlink now owns the stack .... launch, satellites, spectrum, terminals, service... end to end. Verizon, Vodafone, and AT&T now face a global contender with no towers to maintain, no rural gaps to bridge, and no lack of spectrum to hold it back. T-Mobile saw this early by partnering with Starlink for D2D. That move looks increasingly prescient. Full-stack control reshapes the economics and may redefine who holds power in global connectivity in the future. The moat has moved. This is just the beginning. 🌍 Everyone and everything, anywhere, will be connected — seamlessly. – RG #Spectrum #D2D #Starlink #HybridInfrastructure #SpaceX #SatelliteConnectivity #MNO #TelecomStrategy #HNO SpaceX

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Harris Williams is currently advising Stellant Systems, a portfolio company of Arlington Capital Partners, on their pending sale to TransDigm Group. Stellant Systems is a premier designer and manufacturer of radio frequency and microwave amplification products for the defense, space, medical, and industrial markets. Strong tailwinds from continued aftermarket sustainment and high-growth programmatic production are driving momentum in the aerospace and defense electronics market. TransDigm’s acquisition of Stellant will expand their portfolio of proprietary components, creating a strong strategic partnership. We look forward to following their future success. https://lnkd.in/e9MW_sVW #mergersandacquisitions 

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R&D Tax Breaks Set to Expand - Tuberville’s Bold Proposal On May 9, 2025, Senator Tommy Tuberville introduced the American Innovation and Jobs Act, aiming to revamp the R&D tax landscape for small businesses and startups. This bill proposes: 🟢 Restoring immediate full deductions for R&D expenses, reversing the 2017 Tax Cuts and Jobs Act's requirement to amortize these costs over several years. 🟢 Doubling the refundable R&D tax credit cap from $250,000 to $500,000 immediately, with plans to increase it to $750,000 over the next decade. 🟢 Expanding eligibility by raising the gross receipts threshold from $5 million to $15 million and extending the claim period from 5 to 8 years after generating at least $25,000 in revenue. As someone who has navigated the complexities of R&D tax credits, these changes could significantly ease the financial burden on innovative startups. The ability to fully deduct R&D expenses annually would provide immediate tax relief, encouraging more investment in innovation. This bipartisan effort, co-sponsored by over 30 senators, reflects a growing consensus on the importance of supporting domestic innovation. By enhancing these tax incentives, the U.S. aims to maintain its competitive edge in technology and innovation. What are your thoughts on these proposed changes? How might they impact your business or the broader innovation landscape? #TaxPolicy #Innovation #SmallBusiness #RDtaxcredit #AmericanInnovation #Startups #TaxReform

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I’ve said it before, and I’ll say it again, investors buy performance, not potential. When we evaluate franchise brands, we don’t start with the story or the tech stack. We start with unit-level profitability. That’s the foundation for scale, validation, and enterprise value. In my new Forbes article, I break down the key metrics investors look for and why sustainable unit economics always win over flashy growth. 🔗 https://lnkd.in/e6uwkjpx Visit Boxwood Partners: https://lnkd.in/eWPtbT7q #Franchising #PrivateEquity #MergersAndAcquisitions #BoxwoodPartners

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Thinking About Selling Your Business in 2025? Start Preparing Now to Maximize Value Selling your company may be the biggest financial decision you ever make—and preparation is key. At Sellside Group, LLC Group, we’ve helped many business owners achieve successful exits. If you’re considering a sale this year, here’s how to position your business for the highest possible valuation: ✅ Start early – Give yourself time to clean up financials, improve margins, and position the business for growth. ✅ Get your financial house in order – Reviewed or audited financials, normalized EBITDA, and clean books build trust and value. ✅ Highlight key value drivers – Show what sets your business apart: recurring revenue, market leadership, IP, or customer loyalty. ✅ Diversify and de-risk – Reduce reliance on any one customer, vendor, or product line. ✅ Build strong management – Businesses that don’t depend on the owner are worth more. ✅ Tell a growth story – Buyers pay for potential. Show where the business can go under their ownership. ✅ Run a competitive process – One buyer is an offer. Multiple buyers create leverage. ✅ Work with an M&A advisor – The right team can add multiple turns to your EBITDA. 💬 Final Thought: The best sellers think like buyers. If you treat your business like an investment today, it will pay off when it matters most. If you’re thinking about selling in 2025, we’d love to share our perspective. Let’s talk about how to unlock the full value of what you’ve built. david@sellsidegroup.com www.sellsidegroup.com #SellYourBusiness #BusinessValuation #BusinessOwner #MergersAndAcquisitions #PrivateEquity #Entrepreneur #BusinessExit #M&A #SellsideGroup

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