Last month, we discussed how acquirers can select and work most productively with an M&A advisor. Here we conclude this buy-side article series with a look at acquisition integration. Though we typically end our formal engagement at deal closing, we always emphasize acquisition integration for two reasons: 1. Regardless of how rigorous your selection, 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 […]
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 a […]
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 […]
For many clients, the time between first thinking about selling their business and walking in our door is several years. This interval can be important in maximizing your selling price, if you know how to use it well. The first thing we need to understand when trying to value our own company is that the […]
Raising money in difficult markets is a current problem. We’ve read in the press about how banks are tightening credit facilities, and there is a cautiousness in the capital markets. A number of companies are now facing the challenge of how to grow their businesses or raise money in the face of this uncertain market.