The Turnaround Guys
While most of the industry sees the looming landmark of federal legalization as the moment the market’s potential will be unleashed, those with a deeper read on the capital markets often note banking reform will be the real catalyst for transformation. Advocates for passing the Secure and Fair Enforcement (SAFE) Banking Act invariably reference the private-equity money “locked up” on the sidelines. As they tell it, investors are itching to get in on the high-growth cannabis industry, but only after the industry is legitimized with the vital banking step. It’s at this moment Bob Thomas and Jim Snow, cofounders of Vertical Cannabis Partners (VCP), aim to become the most sought-after men in the industry. The seasoned hospitality and fitness consultants have enjoyed long and storied careers working on both the buyer and seller side of private-equity deals, focusing on operational and sales consulting and supporting mergers and acquisitions predominantly within the fitness space. T...