Viking M&A Expands Tennessee Footprint, Targets Founder-Led Succession
Event summary
- Viking Mergers & Acquisitions opened a new office in Memphis, Tennessee, its 19th location and fourth in the state.
- Kyle Kerrigan, previously responsible for Viking’s Nashville office, will lead the Memphis expansion.
- The firm focuses on businesses generating $2M to $250M in annual revenue.
- Viking boasts an 85% closing rate and secures sellers an average of 96% of their asking price.
The big picture
The expansion into Memphis underscores the growing demand for M&A advisory services among founder-led businesses, particularly in regions with diverse economies and robust infrastructure. Viking's strategy of targeting this segment, combined with its high closing rate, positions it well for continued growth, but also exposes it to increased competition and the challenges of managing a geographically dispersed operation. The firm’s success will hinge on its ability to effectively serve a fragmented market and maintain its reputation for deal execution.
What we're watching
- Market Saturation
- The rapid expansion of Viking’s Tennessee presence raises questions about the firm’s ability to maintain its high closing rate and pricing power across multiple regional offices.
- Founder Readiness
- The firm’s emphasis on founder-led businesses highlights a potential bottleneck; the willingness of owners to engage in succession planning often lags behind market need, limiting deal flow.
- Regional Competition
- Increased activity in the Memphis market will likely draw other M&A advisors, intensifying competition for deals and potentially impacting Viking’s pricing and closing rates.
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