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		<item>
		<title>Buyout Multiples and Deal Flow on the Rise: The Time to Sell?</title>
		<link>http://sdrventures.wordpress.com/2012/01/27/buyout-multiples-and-deal-flow-on-the-rise-the-time-to-sell/</link>
		<comments>http://sdrventures.wordpress.com/2012/01/27/buyout-multiples-and-deal-flow-on-the-rise-the-time-to-sell/#comments</comments>
		<pubDate>Fri, 27 Jan 2012 22:47:13 +0000</pubDate>
		<dc:creator>Ben Rudman</dc:creator>
				<category><![CDATA[Economic Outlook]]></category>
		<category><![CDATA[Private Equity]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1271</guid>
		<description><![CDATA[According to PitchBook, 2011 came to a close with buyout multiples nearly matching 2008 levels. Coming in at 9.1x EBITDA, this marked a sharp increase from 7.3x EBITDA in 2010 and a continued rise for two straight years. At the same time, a recent survey of fund managers found that an increased investment of capital [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1271&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sdrventures.wordpress.com/2012/01/27/buyout-multiples-and-deal-flow-on-the-rise-the-time-to-sell/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://1.gravatar.com/avatar/1052e1f568971edd3de54a5d2674cbcc?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">brudman08</media:title>
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			<media:title type="html">Pitch Book Multiples</media:title>
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		<item>
		<title>Private Equity Buyouts in 2011</title>
		<link>http://sdrventures.wordpress.com/2012/01/24/private-equity-buyouts-in-2011/</link>
		<comments>http://sdrventures.wordpress.com/2012/01/24/private-equity-buyouts-in-2011/#comments</comments>
		<pubDate>Tue, 24 Jan 2012 01:32:24 +0000</pubDate>
		<dc:creator>Ben Rudman</dc:creator>
				<category><![CDATA[Private Equity]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1261</guid>
		<description><![CDATA[2011 brought an increase in buyout multiples, marking the second straight year of growth and exceeding 2006 levels, coming in at 9.05x EBITDA. Debt financing was accountable for much of that, at 6.2x EBITDA, with equity making up 2.8x EBITDA. Healthy balance sheets and a push for growth were two significant factors contributing to this [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1261&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sdrventures.wordpress.com/2012/01/24/private-equity-buyouts-in-2011/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://1.gravatar.com/avatar/1052e1f568971edd3de54a5d2674cbcc?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">brudman08</media:title>
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		<media:content url="http://sdrventures.files.wordpress.com/2012/01/buyoutmultiples1.png" medium="image">
			<media:title type="html">Buyout Multiples</media:title>
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		<media:content url="http://sdrventures.files.wordpress.com/2012/01/leverageused1.png" medium="image">
			<media:title type="html">Leverage Used</media:title>
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		<item>
		<title>Lunch with Alan Beaulieu</title>
		<link>http://sdrventures.wordpress.com/2012/01/19/lunch-with-alan-beaulieu/</link>
		<comments>http://sdrventures.wordpress.com/2012/01/19/lunch-with-alan-beaulieu/#comments</comments>
		<pubDate>Thu, 19 Jan 2012 14:47:52 +0000</pubDate>
		<dc:creator>Chris Bouck</dc:creator>
				<category><![CDATA[Economic Outlook]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1255</guid>
		<description><![CDATA[The ACG Monthly Luncheon in January featured economist Alan Beaulieu of the Institute for Trend Research (ITR).  As many of you know, SDR closely follows ITR’s economic forecasting. Alan gave an excellent presentation and here are my takeaways from the event: According to ITR, the US economy will skip Phase C &#38; D and move [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1255&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
		<media:content url="http://0.gravatar.com/avatar/e3aaf98cd70312cbe473eda40e7df8e8?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">Chris Bouck</media:title>
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			<media:title type="html">ACGLogo</media:title>
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		<title>Purchasing Managers Index on the Rise</title>
		<link>http://sdrventures.wordpress.com/2012/01/11/purchasing-managers-index-on-the-rise/</link>
		<comments>http://sdrventures.wordpress.com/2012/01/11/purchasing-managers-index-on-the-rise/#comments</comments>
		<pubDate>Wed, 11 Jan 2012 18:34:42 +0000</pubDate>
		<dc:creator>Chris Bouck</dc:creator>
				<category><![CDATA[Economic Outlook]]></category>
		<category><![CDATA[Leading Indicators]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1251</guid>
		<description><![CDATA[The Purchasing Managers Index (PMI) 1/12 rate-of-change rose for the second straight month, supporting predictions of further economic growth during the second half of 2012. The -7.9% December figure is a good economic signal, particularly for US industrial production. The monthly PMI outcome for December was the highest since June of last year, rising to [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1251&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sdrventures.wordpress.com/2012/01/11/purchasing-managers-index-on-the-rise/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://0.gravatar.com/avatar/e3aaf98cd70312cbe473eda40e7df8e8?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">Chris Bouck</media:title>
		</media:content>

		<media:content url="http://sdrventures.files.wordpress.com/2012/01/pmi12-11.png?w=300" medium="image">
			<media:title type="html">PMI12-11</media:title>
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		<item>
		<title>The Flat Tax and Unlimited Earning Potential</title>
		<link>http://sdrventures.wordpress.com/2012/01/11/the-flat-tax-and-unlimited-earning-potential/</link>
		<comments>http://sdrventures.wordpress.com/2012/01/11/the-flat-tax-and-unlimited-earning-potential/#comments</comments>
		<pubDate>Wed, 11 Jan 2012 18:29:27 +0000</pubDate>
		<dc:creator>Andy Limes</dc:creator>
				<category><![CDATA[Government Policy]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1248</guid>
		<description><![CDATA[Would you support a flat income tax? What if it meant doing away with all deductions? In a column in the December 2011 issue of ColoradoBiz, author Tucker Hart Adams makes this very suggestion. While a flat tax could certainly be a welcome change, Adams’s suggestion of removing all deductions should be viewed with caution. [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1248&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sdrventures.wordpress.com/2012/01/11/the-flat-tax-and-unlimited-earning-potential/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://1.gravatar.com/avatar/f5ed46eb3046fc3773431b1ee47d74b1?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">alimes65</media:title>
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		<title>Lower Middle Market Decade in Review</title>
		<link>http://sdrventures.wordpress.com/2011/12/20/lower-middle-market-decade-in-review/</link>
		<comments>http://sdrventures.wordpress.com/2011/12/20/lower-middle-market-decade-in-review/#comments</comments>
		<pubDate>Tue, 20 Dec 2011 07:06:55 +0000</pubDate>
		<dc:creator>Travis Conway</dc:creator>
				<category><![CDATA[Lower-Middle Market]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1240</guid>
		<description><![CDATA[Over the past decade, the lower middle-market has been a more stable component within the larger deal flow picture. While larger deals experienced a great spike in growth and then an equally dramatic drop, deals under $250 million haven’t been quite as tumultuous. Between 2001 and 2004, the number of deals closed rose from just [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1240&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sdrventures.wordpress.com/2011/12/20/lower-middle-market-decade-in-review/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://0.gravatar.com/avatar/e3a8ff147dd8675de64dbe1760231e3f?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">Travis Conway</media:title>
		</media:content>

		<media:content url="http://sdrventures.files.wordpress.com/2011/12/lowermiddledeals.png?w=300" medium="image">
			<media:title type="html">Lower Middle-Market</media:title>
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		<item>
		<title>Private Equity Deal Flow Continues to Increase</title>
		<link>http://sdrventures.wordpress.com/2011/12/16/private-equity-deal-flow-continues-to-increase/</link>
		<comments>http://sdrventures.wordpress.com/2011/12/16/private-equity-deal-flow-continues-to-increase/#comments</comments>
		<pubDate>Fri, 16 Dec 2011 17:03:42 +0000</pubDate>
		<dc:creator>Travis Conway</dc:creator>
				<category><![CDATA[Mergers & Acquisitions]]></category>
		<category><![CDATA[Private Equity]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1236</guid>
		<description><![CDATA[For the second straight year, the velocity of deal flow continues to rise among private equity firms. While still slower than in 2007, it shows a continued recovery from the bottom of the financial crisis in 2009. In 2007, PE firms averaged a deal every 2.5 months. By 2009 that average had fallen to 4.8 [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1236&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sdrventures.wordpress.com/2011/12/16/private-equity-deal-flow-continues-to-increase/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://0.gravatar.com/avatar/e3a8ff147dd8675de64dbe1760231e3f?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">Travis Conway</media:title>
		</media:content>

		<media:content url="http://sdrventures.files.wordpress.com/2011/12/pitchbook12-13-11.png?w=300" medium="image">
			<media:title type="html">PitchBook 12-13-11</media:title>
		</media:content>
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		<item>
		<title>Technology Takes Its Share of Deal Activity in 2011</title>
		<link>http://sdrventures.wordpress.com/2011/11/29/technology-takes-its-share-of-deal-activity-in-2011/</link>
		<comments>http://sdrventures.wordpress.com/2011/11/29/technology-takes-its-share-of-deal-activity-in-2011/#comments</comments>
		<pubDate>Tue, 29 Nov 2011 16:40:02 +0000</pubDate>
		<dc:creator>Ben Rudman</dc:creator>
				<category><![CDATA[Mergers & Acquisitions]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1227</guid>
		<description><![CDATA[According to AxialMarket, the technology sector was the second most active through the first three quarters of 2011, making up 18 percent of the network’s transaction opportunities. Of the 2,900 companies brought to market, 522 have come out of the technology sector. Within the technology space, application software, IT consulting and Internet software were the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1227&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sdrventures.wordpress.com/2011/11/29/technology-takes-its-share-of-deal-activity-in-2011/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://1.gravatar.com/avatar/1052e1f568971edd3de54a5d2674cbcc?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">brudman08</media:title>
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		<item>
		<title>Decorating the Ditch</title>
		<link>http://sdrventures.wordpress.com/2011/11/22/decorating-the-ditch/</link>
		<comments>http://sdrventures.wordpress.com/2011/11/22/decorating-the-ditch/#comments</comments>
		<pubDate>Tue, 22 Nov 2011 00:34:59 +0000</pubDate>
		<dc:creator>Chris Bouck</dc:creator>
				<category><![CDATA[Government Policy]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1221</guid>
		<description><![CDATA[A recent Forbes article by Rich Karlgaard brings up an important point about the health and future of the U.S. economy. There are those who would have us accept our current economic state and unemployment rates as the new normal. According to Karlgaard, this would be like falling into a ditch, painting it, decorating it [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1221&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sdrventures.wordpress.com/2011/11/22/decorating-the-ditch/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://0.gravatar.com/avatar/e3aaf98cd70312cbe473eda40e7df8e8?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">Chris Bouck</media:title>
		</media:content>

		<media:content url="http://sdrventures.files.wordpress.com/2011/11/forbeslogo.png?w=300" medium="image">
			<media:title type="html">ForbesLogo</media:title>
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		<title>U.S. Leading Indicator Back Up In October</title>
		<link>http://sdrventures.wordpress.com/2011/11/22/u-s-leading-indicator-back-up-in-october/</link>
		<comments>http://sdrventures.wordpress.com/2011/11/22/u-s-leading-indicator-back-up-in-october/#comments</comments>
		<pubDate>Tue, 22 Nov 2011 00:32:54 +0000</pubDate>
		<dc:creator>Chris Bouck</dc:creator>
				<category><![CDATA[Economic Outlook]]></category>

		<guid isPermaLink="false">http://sdrventures.wordpress.com/?p=1217</guid>
		<description><![CDATA[After a brief downward turn in September, the 1/12 rate of change is again on the rise, renewing confidence in a steady economic growth though 2012. The most significant piece of data in October’s upward trend was a renewed rise in building permits. In addition, fewer unemployment claims and a boost in demand for consumer [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sdrventures.wordpress.com&amp;blog=9755816&amp;post=1217&amp;subd=sdrventures&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sdrventures.wordpress.com/2011/11/22/u-s-leading-indicator-back-up-in-october/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://0.gravatar.com/avatar/e3aaf98cd70312cbe473eda40e7df8e8?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">Chris Bouck</media:title>
		</media:content>

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			<media:title type="html">11-11 USLI</media:title>
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