Operation Inspire Launched at UB

Students from the School of Management will apply their business acumen beyond campus to acquire a company — a real one, with real employees and real money — thanks to a generous donation of “time and treasure” from UB alumnus Abraham “Avi” Mirman, BA ’98.

The Operation Inspire Experiential Learning Fund will guide students through the process of executing an actual mergers and acquisitions (M&A) transaction, including:

• Strategic planning and industry research.
• Target company identification and valuation (marketed and non-marketed, public and private).
• Deal negotiation and deal structuring.
• Capital source identification.
• Marketing and pitch deck formation.
• Capital-raising, closing mechanics and post-merger integration.

Specialized teams consisting of three to five students from numerous majors — among them finance, law, accounting and marketing — will be responsible for collaborating on each aspect of the project to structure and close the business deal. All members of Operation Inspire, in addition to the law student members, will be exposed to the legal documents and diligence required for completing an M&A deal, including:

• Non-disclosure agreements, memorandums of understanding and letters of intent for deal terms.
• Rigorous diligence checklist (financial, operations, corporate, contracts, litigation, compliance, regulatory, etc.).
• Financing documents (credit documents, preferred documents, common stock, etc.).
• Acquisition documents (stock purchase or asset purchase agreements).
• Contracts and all other documentation required for a successful closing.

While there’s risk involved in a real-world business venture, this experience, with Mirman’s oversight, will give UB students a once-in-a-lifetime opportunity to see how business happens and how to manage the challenges in a proactive manner.

Organizers say the program is unique among business schools.

“Thanks to Avi’s generosity and vision, our undergraduate and graduate students will gain immersive, hands-on experience in mergers and acquisitions that is unparalleled by virtually any other business school, preparing them to enter the workforce with a significant competitive edge,” says Ananth Iyer, dean of the School of Management. “Operation Inspire directly aligns with the School of Management’s vision to develop agile, transformational leaders who roll up their sleeves and change society for the better.”

Operation Inspire is the brainchild of Mirman, sparked by his own experiences as an MBA student at the University of Tulsa, a passion for inspiring students and desire to work with the brightest minds to make a real-world impact. While he acknowledges there are numerous factors involved with the project, students’ fresh perspective at the start of their professional journey is an exciting opportunity.

“Experience is overrated. Hunger, drive, a deep and obsessive passion for learning on the fly; that’s what matters, and I’ll be a resource to them throughout,” Mirman says. “Why pretend when you can get real?

“These students have mastered so many incredible tools that we never dreamed of 30 years ago when I first entered the business. They will prove readiness for any employer in their respective fields beyond anything seen before, once the deal is complete.”

With Mirman’s extensive industry experience, the philanthropic partnership will create opportunities for collaboration and mentorship that lead to a high return on investment — and drive the rankings by Bloomberg Businessweek, Entrepreneur, Financial Times, Forbes and U.S. News & World Report — all important to a school that is known for high marks.

“With Avi’s guidance, each student group will draw on their varied expertise to research target companies, perform analyses, develop a strategy, consider legal implications and present investors with a deal structure and proposed purchase price based on the team’s valuation work and a plan to raise capital,” explains Michael Brace, clinical assistant professor of finance, MS Finance Program director and faculty adviser for Operation Inspire.

“Once an acquisition has been completed, students will have the potential opportunity to work for that company in addition to the invaluable experience they will have gained being part of this groundbreaking, transformative project.”

Mirman hopes that in the long term, the project, which launched on July 24, will accomplish three goals:

• Encourage other UB alumni, donors and friends to give time and resources in service of students. Interested donors can contribute to the Operation Inspire Experiential Learning Fund or the UB Fund for the School of Management.
• Generate excitement with industry professionals who might provide capital for the M&A while forging relationships that strengthen the workforce pipeline.
• Create employment opportunities for School of Management graduates, especially those on visas with limited time to find employment in the U.S.

Christopher D’Amato II, an MBA student in Operation Inspire’s first cohort, expressed excitement and gratitude for being trusted with a project of such consequence, citing Mirman as an example of perseverance, raw transparency and purposeful drive that will be an inspiration throughout the initiative and beyond.

“We’ll gain essential professional insights on our road to success together, surely, but we’ll also, undoubtedly more importantly, learn what it means to truly exemplify servant leadership across relationships, from our classmates to our children,” D’Amato says.

Adds Brace: “In addition to the caliber of our programming, this initiative speaks to the strength of our alumni network and the willingness of our graduates to elevate opportunities for students past, present and future.

“The School of Management will be on the map even more prominently with Operation Inspire.”