New International Alliance Takes Shape

A band of former IMAP members launches new global coalition

May 7, 2010

As cross-border activity has grown, the various international networks, such as IMAP, Global M&A and M&A International, have made moves to build out their roster of participating firms and better coordinate their branding throughout the networks. A band of IMAP defectors, however, is looking to launch a new a group, one that Mertz Associates' Ward Wickwire, a former IMAP chairman, says is "more about a diversity of services and not as league-table focused" as other the organizations.

The Alliance of International Corporate Advisors (AICA) held its inaugural meeting on Thursday evening in Miami, at ACG's InterGrowth conference. Among the founding members are AFG Venture Group's Peter Church, based in Sydney, Australia; Acquisitions Northwest's Cordell Berge, based in Oregon, and Osprey Partners' Rachel Sargent, based in Bucharest Romania, among others.

The AICA has already lined up 25 member firms dotted around the globe, including members in Mexico, Israel, Italy, Serbia, India, the Czech Republic, France, Brazil, and Canada.

AFG's Church told Mergers & Acquisitions that the alliance expects to have as many as 50 to 60 members within a few months.

Wickwire says the split from IMAP was a "respectful" parting. He added that IMAP "is going in one direction," citing in particular an approach targeting "larger M&A firms."

The three legacy international networks have taken initiatives to build out their brands. Global M&A, last year, installed Allison Dent as its CEO to undertake a mandate to consolidate the network's market position. IMAP, meanwhile, recruited Morgan Joseph to join its network, reflecting the move to larger firms that Wickwire alluded to.

AICA, meanwhile, is looking to differentiate itself a couple of ways. The alliance is aiming to bring on a diversity of services that balances its M&A focus with other capabilities, such as growth equity investments or joint ventures.

Moreover, there won't be an expectation that member firms take on a common brand. The AICA hopes to build market awareness of the alliance, creating added value for its member firms, but the network is not looking for its members to forego their local brands.

"Entrepreneurs want to build their own brand equity," Osprey's Sargent told M&A, noting that in the local markets those brands may resonate more with the business community.