Mark Williamson, Lathrop GPM

Partner, Business Transactions Practice Group Chair, Lathrop GPM

What are the biggest challenges you currently see in the M&A world?

One of the biggest challenges right now is the impact of higher cost debt financing for buyers. Higher interest rates have made debt financing less accessible and less attractive. Additionally, external factors are having an impact, and we’re seeing that buyers are being more cautious with deals. There’s more due diligence being done, and transactions are taking more time, with less urgency overall. This shift is making it more of a buyer’s market, where buyers are taking a more patient and deliberate approach.

Without revealing the names of a client, what is the most interesting transaction you’ve worked on lately?

The most interesting transaction I’ve worked on recently involved the sale of an ESOP company in the building trade space. ESOP deals are more complex because they involve multiple parties, including an ESOP trustee, which creates a more dynamic negotiation process.

How do you manage work/life balance?

I’ve heard work/life balance described as “work/life integration,” and I think that’s a good way to put it, especially in the world of M&A. Work and life often overlap, and sometimes the ability to do things you enjoy comes at odd times. I try to find opportunities every day to do at least one thing I enjoy, such as biking, spending time with family, listening to music, traveling, reading. I’m always amazed at what an impact a bike ride or workout has on my wellbeing.

What is one thing you would change about Minnesota if you could?

I think Minnesota is wonderful as it is. The balance of a big city with easy access to outdoor activities is hard to beat. I can be in downtown Minneapolis in minutes, yet within five minutes of my house, I can go mountain biking or cross-country skiing. I really appreciate how easily accessible the outdoors are, especially for a large metropolitan area. A Super Bowl Championship would be nice though.