Successful Acquisitions: A Proven Plan for Strategic Growth

Successful Acquisitions: A Proven Plan for Strategic Growth

by David Braun

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Product Details

ISBN-13: 9780814432655
Publisher: AMACOM
Publication date: 04/10/2013
Pages: 256
Product dimensions: 6.10(w) x 9.10(h) x 1.00(d)
Age Range: 18 Years

About the Author

DAVID BRAUN is founder and CEO of Capstone Strategic, Inc., a leading M&A consulting firm focusing on the mid-market sector.

Read an Excerpt

INTRODUCTION

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WHY THIS BOOK IS NEEDED a am making one simple assumption in this book—that you want to grow your business. But what happens when growth hits a ceiling?

When current markets are saturated? When existing product lines are exhausted? When there just seems no way to expand, however hard you push? My purpose in these pages is to give you a break-through solution—a complete roadmap to successful expansion through acquiring other companies.

Beyond that, I want to help you expand your understanding of mergers and acquisitions, of how they unfold in the real world a especially for the mid-market player.

For most people, M&A has a peculiar aura. On the one hand a there’s an unmistakable fascination in the spectacle of massive corporations eating each other alive. On the other hand, most M&A

literature comes in the form of heavy academic tomes, packed with legalese and financial equations of little use to the average business-person.It seems the subject is simultaneously glamorous and impen-etrably dull. In this book, I will show you a world of M&A that is both fascinating and accessible.

First, a reality check. Most acquisitions are not multi-billiondollar takeovers. According to Bloomberg’s M&A Advisory League

Tables (April 2, 2012), 97 percent of all M&A transactions are below

$500 million in value. That means that every year, hundreds of amicable transactions are consummated between modest-sized companies a the majority of which are privately owned. You rarely read about these deals in the business press, and by definition, a private transaction yields less public information. Yet this activity is absolutely essential to a healthy economy.

This book is different from most others on mergers and acquisitions a because it is focused exclusively on the small to mid-market sector, where most M&A activity actually occurs. And it is entirely concerned with the art of buying. Most important, what you will find here is a practical step-by-step plan for acquisition based on fundamental principles. Every detail of the plan has been tested and proven through decades of overseeing successful acquisitions.

As you will discover, the true function of an acquisition is not just growth but recalibration. Buying another company will change yours for better or worse, depending on how strategically you approach the deal. By the same token, M&A activity as a whole serves to recalibrate entire industries. It is one of the market’s most effective mechanisms for self-correction and positive evolution.

The better you understand acquisitions, the better you understand business itself.

Table of Contents

CONTENTS


Introduction: From Beginning to Beginning 1


PART 1: BUILD THE FOUNDATIONS


Chapter 1: Know Thyself 19


Chapter 2: Pathways to Growth 37


Chapter 3: Prepare to Buy 57


Chapter 4: Assembling Your A-Team 71


Chapter 5: Researching and Selecting a Market 83


PART 2: BUILD THE RELATIONSHIPS


Chapter 6: The Prospect Funnel 105


Chapter 7: Making the First Contact 121


Chapter 8: Face-to-Face with Opportunity 133


Chapter 9: First Assessments 145


Chapter 10: Negotiating with Prospects 163


PART 3: BUILD THE DEAL


Chapter 11: The LOI: A Gentleman’s Agreement 177


Chapter 12: Getting Down to Business 191


Chapter 13: Integration: An End and a New Beginning 207


Executive Summary: The Top Ten Lessons 221


Glossary 225


Resources 231


Appendix: Sample Letter of Intent 235


Index 243

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