In our experience, business owners who have identified the one party—or handful of likely parties—on the other side of the table often understand they need assistance beyond what their other advisors will provide, but wonder what an M&A advisor will do to add value. This is a case of “raising the bridge and lowering the water.” We’re able to attune our offering to the one-off transaction because it is our primary focus, not one we default into. And, we can charge less than traditional investment banks because we are not required to utilize and pay for the platform required to execute on full-out auctions.
Over this tumultuous past year, I came to believe—or hardened in believing—three things about private business owners contemplating the sale of their companies:
1. The dynamic between the M&A market and exit-minded business principals remains primarily “push” not “pull”—they’re more likely to choose to sell based on events in their own worlds, rather than to be drawn in by events in the world at large…
Back in April, I wrote a commentary titled “Nobody Knows Anything” that described the immediate challenges facing the M&A industry in the wake of a global health crisis that rendered inoperative most methods of business valuation.
Since then, we’ve all tracked the successive waves of normalization…
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