Steve Pierson, managing partner at middle-market private equity firm Lovell Minnick Partners, said small companies were more open to deals this year because the coronavirus crisis stressed their balance sheets and tested their business plans. “Think about March and April, everyone was pretty nervous about the state of the world,” Pierson said. “If you don’t know what’s going to happen over the coming months, it’s logical to turn to an existing relationship.”

“In times of stress, small companies are frequently more willing to sell,” Steve Pierson, Managing Partner at Lovell Minnick, said in an interview. “During the pandemic, we observed that smaller companies have become more attracted to being acquired by larger companies with more scale as a way to mitigate risk in an uncertain world.”

Steve Pierson, Managing Partner at Lovell Minnick Partners, is mentioned in this article in Private Equity International. The article addresses how the fintech sector, long a place for investors and venture capitalists to seek new opportunities, has not been hampered by the Covid-19 pandemic and is still a trusted sector for investments.

The rapid spread of the novel coronavirus around the world has upended the way the private-equity industry operates. Private Equity Analyst talks with Steven Pierson, Managing Partner at Lovell Minnick Partners, who shares insights into lessons learned from the past and how the pandemic is affecting the way he approaches his work schedule.