5:30 What is a tuck-in acquisition? |
6:40 Is inorganic growth limited to M&A? |
7:50 How do you differentiate yourself from other corporate acquirers? |
10:00 How large is your M&A team? |
11:00 International acquisitions |
13:40 What size companies do you acquire? |
15:40 What is the biggest challenge in acquiring companies and running an M&A department? |
17:50 What is the most common mistake business owners make when they are approached by a corporate acquirer? |
21:14 Where does the acquisition process start for the purchaser? |
23:50 Who is involved in the acquisition strategy sessions? |
26:20 What is the next step after forming an acquisition strategy? |
31:20 How do you screen potential acquisitions? |
33:00 How do you obtain information from an owner if they haven’t prepared an offering memorandum? |
34:20 When is a non-disclosure agreement signed? |
34:50 What is your advice to business owners who are approached by a competitor to buy their business? |
37:00 What is your advice to investment bankers as a corporate acquirer? |
38:20 What documents do you need to see before you submit a letter of intent? |
40:00 Do you ask for normalized financial statements from the owner? |
40:30 What is the biggest mistake owners make when negotiating with a corporate buyer? |
44:25 What is your advice to business owners on preparing their business for sale? |
46:00 What are common stumbling blocks at the stage of signing the non-disclosure agreement? |
46:50 What is the next step after analyzing the initial information? |
48:25 How many meetings are required before submitting a letter of intent? |
49:30 Who is involved in the transaction on both sides? |
50:50 How often is their attorney and CPA involved in the preliminary stages? |
52:20 What is your process for preparing and presenting an LOI? |
55:40 What percentage of letters of intent end up closing? |
56:45 What’s a typical transaction structure? |
57:30 Do you prefer to buy the real estate? |
58:50 Majority vs. minority transactions |
1:00:00 Stock as a form of consideration |
1:04:30 How important is the team? |
1:05:50 How important is exclusivity? |
1:08:30 What happens during due diligence and how long does it last? |
1:09:45 Who is involved in due diligence on both sides? |
1:11:15 How much do you spend on conducting due diligence? |
1:13:40 What is the biggest mistake business owners make during due diligence? |
1:15:55 What is your typical time frame for due diligence? |
1:16:30 Do you need to prepare for due diligence? |
1:18:15 What happens between due diligence and the closing? |
1:19:55 When do you start preparing the purchase agreement? |
1:20:20 Who prepares the purchase agreement? |
1:21:30 What is your advice to business owners for negotiating the purchase agreement? |
1:23:00 Does an attorney need M&A experience? |
1:26:10 When do the employees find out about the sale? |
1:27:00 How emotional is the M&A process for the business owner? |
1:30:00 When can the owner expect to fully walk away? |