Insights

Selected research, articles and analysis from our senior advisors.

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Insights

Conducting Due Diligence

Implicit in our previous article’s discussion of the M&A pipeline is the need to move from a pool of initial candidates, often numbering 100 or more, to perhaps 1-2 good acquisitions. After high-level screens have weeded out the less attractive possibilities, and detailed analysis of publicly available information has further distilled the list, we may […]

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Building a Strong Acquisition Pipeline

The last article looked at sources of target company value, and their importance based on the purpose of your acquisition. Continuing in the Search and Assessment stage of our framework, let’s now turn to the mechanics of building a strong pipeline.   Figure 1. Stillwater Capital Acquisition Framework What is a pipeline? Your pipeline is […]

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The Importance of Value Drivers When Assessing Targets

Having established the importance of corporate strategy as the starting point for any deal and introduced possible acquisition types, let’s shift attention from the Strategy stage of our framework to Search and Assessment (Figure 1). What value does a potential target bring, and where do we find good quality targets? Let’s start with value   […]

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Aligning Acquisitions With Corporate Strategy

The last article shared a framework we use to guide clients through their acquisition decisions in a disciplined way, and explored the four questions every acquirer must be able to answer. Here we dig deeper into the first step in the framework, and the question of purpose, looking at the alignment of acquisitions with corporate […]

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