Show Summary: In this episode of M&A Talk, Marc Beginin shares his rollercoaster entrepreneurial journey. In early 2020, he was poised to sell his company for $80 million, but the COVID-19 pandemic abruptly halted the deal. Undeterred, Marc navigated through a series of challenges, including a merger, an acquisition, and a costly oversight on the other party’s side. He reveals how these experiences ultimately led him to launch a brand-new business. Join Jacob and Marc as they discuss the resilie...
Aug 21, 2024•1 hr 3 min
Show Summary: Matt Sharrers joins us to discuss the challenges of replacing a CEO or founder of a company, with a focus on the need for a well-thought-out plan to ensure a smooth transition and maximize value. He emphasizes the importance of self-awareness and ego management for founders, as well as the need for a clear value creation plan and metrics to measure success. View the complete show notes for this episode. Want To Learn More? Will Selling Your Business Make You Happy? The M&A Training...
Aug 19, 2024•32 min
Show summary: Historically, reps and warranties insurance was only available to very large M&A transactions. In this episode, Patrick Stroth discusses how this product is now available to small and middle-market businesses. He explains that the objective is to provide sellers and buyers with a solution that is reliable and actionable and avoids conflict between the parties. The significant benefit for sellers is that they don’t need to deal with escrow accounts, legal disputes, or earnouts and e...
Aug 14, 2024•1 hr 24 min
Show Summary: The private equity secondary market has grown significantly in recent years, with increasing acceptance and flexibility, but what is it exactly? Who is involved, and how do these funds operate? Jeff Bollerman has spent years in this evolving aftermarket for private equity interests, where investors can buy and sell stakes in private partnerships. He provides insights into the market’s maturation, the role of professional advisors, the fierce competition among large syndicated funds...
Aug 12, 2024•52 min
If you have any topic or guest suggestions for M&A Talk, please email them to [email protected] . How can you get on the path to entrepreneurship by acquiring an established business rather than building a start-up? Harvard Business School professors Royce Yudkoff and Rick Ruback share their insights into the nuances of search fund investing, including the challenges of finding high-quality, enduringly profitable businesses. They focus on the appeal of the lower middle market, the a...
Aug 08, 2024•51 min
If you have any topic or guest suggestions for M&A Talk, please email them to [email protected]. The auction process is standard for M&A transactions, but that doesn’t mean it’s the only way to facilitate an acquisition. Get the inside scoop on a new way of bringing companies together for the best fit. Allen Darby details how his wealth management firm matches M&A buyers and sellers by focusing on long-term cultural fit. He explains why soft factors are critical and provides valuabl...
Aug 06, 2024•58 min
View the complete show notes for this episode. What impact can a partnership dispute have on the value of a company? What is the difference between a legal valuation and a market-based valuation for M&A purposes? Expert appraiser Andy Frew answers these questions and more as he discusses what’s involved and what can go wrong with valuations involving companies that have a partnership dispute arise. He covers the complexities of valuing partnership interests and establishing a thorough valuation ...
Jul 31, 2024•1 hr 13 min
View the complete show notes for this episode. The successful completion of an M&A transaction often comes down to the rapport that is built between a buyer and seller and how that impacts the ultimate deal structure. Investor Matt Bodnar offers rapport-building strategies and insights into the finer points of crafting a transaction’s structure. He talks about the variables that go into an LOI, understanding and prioritizing the seller’s objectives, goals, and desires, and how this knowledge inf...
Jul 29, 2024•55 min
View the complete show notes for this episode. The acquisition process presents a rollercoaster of emotions for all involved, and how an acquisition is announced can dramatically impact integration. Loreta Tarozaite offers insights and lessons learned from an employee’s perspective during an acquisition and integration. She discusses the importance of effective communication, transparency, employee well-being during times of change, the influence of executive communication especially during inte...
Jul 24, 2024•51 min
View the complete show notes for this episode. The Federal Trade Commission (FTC) has issued a new ruling (as of May 2024) regarding the enforceability of non-compete agreements. This ruling will impact every business, regardless of industry, so attorney Darshan Kulkarni joins M&A Talk to discuss the legal and economic implications of this controversial decision. He highlights how employers and attorneys can handle this situation, discusses the potential effects on employees and the legal hurdle...
Jul 22, 2024•44 min
View the complete show notes for this episode. “If you build it, they will come” is an expression that applies to starting a company as well as a baseball field. Thinking about what buyers want and avoiding the pressure to sell in a specific timeframe can help you increase your company’s value when the time comes to sell. With 25 years in corporate M&A, Guillaume Thomas helps sellers understand what the M&A process looks like for buyers. He also shares how he has used these same lessons to start...
Jul 17, 2024•59 min
View the complete show notes for this episode. What is it like to source M&A deals with a focus on B2B software technology companies? Mahmoud Hmouz answers this question and many more as he discusses what a PE firm looks for when sourcing companies to consider for acquisition. He offers insights into the metrics a PE firm first looks at, gives advice for entrepreneurs on preparing for a “first date” conversation with a potential investor, and the importance of being honest about what an owner wa...
Jul 15, 2024•50 min
View the complete show notes for this episode. Learning from your mistakes is an important life lesson. Learning from the mistakes of others is smart business. Jim Stevenson shares a high-level overview of two M&A transactions that have gone wrong and points out the lessons that can be applied to any transaction. His suggestions include going after the smart money, not just the most money, performing risk assessment and research on the buyer’s track record, running a company while managing the s...
Jul 10, 2024•39 min
View the complete show notes for this episode. A fairly new investment model for investing in online businesses is gaining strength and interest. Justine Cooke discusses this fractional ownership program, which is accessible online and available to retail investors. In this model, investors seek passive income through fractional ownership of online businesses, with operators receiving equity and investors receiving majority returns. Justin highlights the benefits of this model for both investors...
Jul 08, 2024•45 min
View the complete show notes for this episode. What You’ll Learn M&A Evolution: Learn about the M&A transactions that resulted in the formation, growth, sale, and reformation of two multi-million dollar companies. ASME Certification: Insights into the challenges involved in working with international suppliers and the importance of confirming valid certification. Cannabis Industry: An overview of the layers of the cannabis industry and its evolution, from manufacturing through to consumer sales....
Jul 04, 2024•58 min
View the complete show notes for this episode. What You’ll Learn Major Deal Killers: A look at the risks private equity firms consider, such as customer concentration, off-balance sheet liabilities, cyclicality, business size, and creative accounting. Address Risks: Tips on how to proactively address risks and liabilities like customer concentration through sales and marketing strategies to diversify and grow the business. Exit Planning: Hear why it’s important to begin preparing for your exit a...
Jul 01, 2024•53 min
View the complete show notes for this episode. Accountant Kyle Smith shares expert insights into optimizing a business’s financial health before going to market. This includes understanding and tracking five key performance indicators (KPIs) and financial metrics to evaluate a business’s financial health and valuation, the need for cost control analysis, benchmarking against industry averages, and monitoring revenue, gross profit, and sales mix to identify areas for improvement and maximize prof...
Jun 27, 2024•1 hr
View the complete show notes for this episode. Thinking about retirement is different for a business owner. You want to ensure you continue living life with purpose and intent to make sure you are happy once you sell your business. Expert Elliot Kellen discusses how to avoid the vacuum that occurs after you sell your business. He offers strategies for clarifying your goals and vision for retirement to guide financial decisions, the components of an action plan, and putting together a team of adv...
Jun 19, 2024•1 hr 1 min
View the complete show notes for this episode. What are the most common mistakes sellers make when it comes to selling a middle-market company? M&A expert Jim Stevenson shares tips and strategies for preparing a company for acquisition. He discusses common mistakes such as not planning for an exit or not presenting a company in the best possible light, the importance of cultural fit, the need for a clear and compelling business story to attract potential buyers, and the value of hiring experts i...
Jun 14, 2024•44 min
A major consolidation in the Bitcoin mining industry occurred in November 2023 with the merger of Hut 8 and US Bitcoin. Learn what went on inside this deal from Asher Genoot, CEO of the newly formed Hut 8 Corp. He discusses what led to the decision to raise capital by merging a public Canadian company with a private US company, the mechanics of merging, the challenges of integration, the operational and financial objectives for each side, and how this will help with driving diversified growth go...
Jun 07, 2024•37 min
View the complete show notes for this episode. In an M&A world dominated by PE firms and family offices, there are a few private investors who march to their own beat when it comes to looking for companies to buy. Rami Cassis is one such investor, and he shares his insights into what he looks for when acquiring a company and offers tips on common mistakes that sellers make. This candid conversation covers what appeals to a private investor, the differences between working with a PE firm, and the...
May 31, 2024•40 min
Get an insider’s perspective on what buyers look for in M&A transactions with multi-million and billion-dollar corporations. What do companies this size look for when making an acquisition? How do they make the decision to build, buy, or partner with a company? How do middle-market companies fit into the acquisition picture? Nadia Gil shares her passion for the M&A industry and stories from corporate development successes to give middle-market sellers insight into corporate acquisitions. View th...
May 23, 2024•42 min
Private equity (PE) firms are the most active buyers in the market, so sellers need to understand how they operate. Matt Coyne offers expert advice on how to make selling your middle-market company to a PE firm the best option. He discusses what PE firms look for in a company, the benefits and concerns when considering selling to a PE firm, tips on how to work with them, how the finances are typically structured, and what an owner can expect once they sell. View the complete show notes for this ...
May 17, 2024•1 hr 1 min
M&A integration expert Ben de Haldevang shares insights into what can make post-acquisition integration smooth and successful. The integration structure evolves through the diligence process and can help defy false optimism and outlooks that are not based on reality. View the complete show notes for this episode. Want More? Related Resources: M&A Post-Closing Technical Aspects - Morgan & Westfield M&A Due Diligence | Checklist & Overview - Morgan & Westfield M&A Post-Closing Technical Aspects - ...
May 08, 2024•46 min
M&A disputes post-closing are more common than people realize. Disputes arise from different sources for different reasons and can result in hundreds of thousands of dollars in litigation costs. Bill Wiersema returns to M&A Talk to offer expert advice on how to best prepare during the sales process to avoid potential disputes after the closing. He discusses the three most common areas of dispute and the value of having expert advisors to navigate financial due diligence to prevent issues from ar...
May 01, 2024•1 hr 8 min
Don’t underestimate the role and impact of human nature in M&A transactions and the power of collaboration. Julienne Baron discusses connecting the dots in M&A, including communication, the importance of advisors understanding the details in a deal, and knowing the right questions to ask to make it all a success. She shares tips on successfully navigating risk, how cultural differences impact communication, and the importance of hands-on experience in addressing the complexities of any M&A trans...
Apr 25, 2024•51 min
M&A is part art and part science, and sellers and buyers can benefit from considering the view from the other side of the negotiating table. Andrew Morbitzer goes into detail about where the art and science lie in M&A transactions. He discusses the concept of proactive vs. reactive M&A strategies, what to learn from past failed acquisitions, the lifecycle of an acquisition – from strategy to alignment, to commitment, to integration – and how to transfer this science to successful transactions. V...
Apr 18, 2024•51 min
The world of alternative investments is complex but compelling for middle-market business owners and entrepreneurs to understand. Kimberly Flynn discusses how M&A fits into the world of asset management. She defines alternative investments, explains how they fit into investment portfolios, discusses institutional money management, looks at how private equity and VC firms utilize M&A, considers options for raising capital, and speculates on the future of alternative investments and the potential ...
Apr 10, 2024•41 min
Buyers trade money for value. Understanding this is key to a company getting better tomorrow. Pricing expert Mark Stiving talks about the easiest way to increase a company’s value and looks at how pricing adjustments impact value, sales growth, and the perception of a business. He discusses developing strategies for an effective price increase, managing the timing, how a company can confidently raise prices without the fear of losing customers, and other strategies that can increase a company’s ...
Apr 03, 2024•47 min
Learn about the M&A growth of two start-ups in a new virtual business – mental health services online. William Masih discusses questions for sellers to ask themselves before considering an M&A transaction, raising capital, building relationships, and finding synergies with a potential partner business. He talks about making mental health therapy accessible, the mechanics of his acquisition, details on the scorecard method of valuing a business, and applying it to a company in the early stages of...
Mar 26, 2024•54 min
