Our reputation can be attributed to the strength and character of our seasoned professionals who provide services in the following areas:

• Mergers & Acquisitions
  
• Restructurings
  
• Private Placements
  
• Business Valuations & Fairness Opinions
  
• Strategic Business Planning
  
• Institutional Brokerage & Research
  
• Venture Capital / Principal Investments

Carmichael operates as a seamless network of companies. We continue to broaden our worldwide network to provide continuing access to global capital sources as well as strategic opportunities for our clients. At Carmichael, we understand that our integrity and the strength of our relationships are critically important to our success. We strive to maintain and expand our broad array of relationships which validate our global presence. We recognize that our clients' needs will vary based on their business cycle. That is why we maintain a broad range of services to meet their changing needs.

Our specialty services include the following:

• Mergers & Acquisitions - M&A transactions have become increasingly important, particularly for technology-driven companies. M&A activities allow companies to strengthen their capital base, gain distribution channels, expand geographically and increase their market share. Most companies, however, do not have the resources to explore the abundance of M&A opportunities that exist today. Our banking professionals develop an understanding of your company and remain current with the changing global environment in order to optimize potential business opportunities. Carmichael's M&A services include developing acquisition strategies and corporate divestiture programs, engineering recapitalizations, identifying leveraged buyout opportunities and managing the selling process for private and public companies.
  
• Roll-up Strategies - Certain business strategies call for an immediate presence in a technology or market space. The fastest way is through an acquisition or a series of acquisitions. Carmichael has numerous resources to perform extensive acquisition searches. This service provides the key step in creating a comprehensive acquisition program and getting a jump-start in R&D efforts, geographical growth or market entry.
  
• Cross-Border Transactions - For many companies, moving into the foreign marketplace can be extremely risky. At Carmichael, our network and familiarity with the culture of numerous countries allow our clients to sidestep foreign market barriers. Our international experience will smooth the rocky road that can sometimes accompany foreign acquisitions and alliances.
  
• Restructurings - Sound businesses can become financially unstable in the volatile economy. Carmichael leverages legal, accounting, and financial resources to assist companies in re-engineering their balance sheets. Carmichael services include strategic business reviews leading to restructuring plans for existing debt and equity, as well as formulating and negotiating reorganization plans. We work with clients to develop divestiture strategies in conjunction with restructurings, including planning the sale, valuing the business, identifying the buyers, and negotiating and closing the sale.
  
• Private Placements - The private placement market for equity, debt, mezzanine, and bridge financing has become an increasingly important source of capital for growing companies. Carmichael assists in the identification and evaluation of various capital structures and private financing alternatives. With strong connections to the debt and equity investor community at all levels (angel, venture capital, institutional), Carmichael has the ability to optimize a company's position and maximize the capital raised. In addition, Carmichael has the resources to provide principal investing. Carmichael's leadership and attention to detail throughout the process allows our client time to focus on the operational aspects of their business.
  
• Business Valuations & Fairness Opinions - Carmichael provides fairness opinions and valuation analysis to investors, independent institutions, and boards of directors. These opinions are critical tools in the selection of value-enhancing business strategies. We utilize our broad knowledge base and hands-on industry experience to insure that valuations and fairness opinions that will stand up against extreme scrutiny.
  
• Strategic Business Planning - We can assist our clients in realizing their full potential through strategic planning for managerial productivity and profitability. Our operational improvement services provide insightful analyses and help identify unique solutions for growth issues. Through assisting our clients in the negotiation and implementation of strategic alliances and joint ventures, we help them maximize synergies and improve shareholder value.
  
• Institutional Brokerage - Any investment bank must be able to provide timely and cost effective trading capabilities for its clients, and Carmichael is no exception. We will be able to offer personalized trading services for many types of investment vehicles, including access to both domestic and international markets.
  
• Industry Research - Carmichael believes that thoroughly understanding its clients' industries is key to providing sound strategic and financial advice. We are committed to performing a complete industry research analysis for every transaction. We also believe that certain specialized industries require continual monitoring, therefore we research and publish reports on the medical device, laboratory equipment, photonics, wireless, telecom, and software industries.
  
• Venture Capital / Principal Investing - Carmichael's venture capital fund makes early stage investments in companies with enabling technologies. Companies with strong management teams and executable business plans that have been validated by the market in medical devices and healthcare as well as software and communications-related opportunities are of particular interest to us.