As the saying goes, "When the going gets tough, the tough get going." As we approach the end of 2024, we want to take a moment to reflect on the past 12 months and share some of our clients’ achievements. Despite a significant slowdown in transaction activity within the U.S. cannabis sector, Sharp successfully advised several top industry participants on key transactions.
Key Highlights of 2024
- Strategic Acquisition in Illinois: Advised a family-owned dispensary chain operator on acquiring a Tier I cultivator, creating one of Illinois' largest vertical operations.
- New Jersey ATC License Acquisition: Guided a privately-owned Missouri-based operator through the acquisition of one of the original New Jersey Alternative Treatment Center (ATC) licenses and a cultivation operation via a court-ordered sale process.
- Construction Financing: Sourced construction financing for an Illinois-based retail operator to develop a "craft grow" facility from the ground up.
- ESOP Sale in Oregon: Assisted a family-owned Oregon-based vertical operator in its sale to an Employee Stock Ownership Plan (ESOP).
- License Divestiture in Missouri: Advised a privately-owned Missouri operator on divesting a non-operational license.
- Valuation Opinions: Provided valuation opinions for two separate privately-owned operators—one to support a "roll-up" transaction and the other to value an estate for inheritance tax purposes.
- Community Involvement: Sharp Capital Advisors donated 1,000 turkeys for Thanksgiving to families in impoverished neighborhoods of Chicago, areas heavily impacted by the war on drugs.
At Sharp Capital Advisors, we provide best-in-class transaction advice and execution services within the cannabis industry. Our mission is to help cannabis businesses navigate complex financial transactions and achieve their strategic growth objectives while adhering to the highest levels of integrity and honesty.
Best,
Sharp Team
Authors:
Stephen Miles
Rebecca Hawkinson
