Acquisitions Part 3 – Target Contact, Assessment of Value and Investment Paper
In Part 3 of my series on Acquisitions the emphasis is on assessing value as you get to know the target and translating that into an Investment Paper that articulates your post acquisition plan. The Acquisition Approvals Process is a six phase process covering:...Acquisitions – How to Do Them Part 2 – Finding & Assessing Targets.
In the second part of my series on How to Buy Companies, I’m going to highlight Phase 2, identifying and assessing targets. The key to this phase is finding targets that really match your Acquisition Profile (shopping list) and being ready to discuss how you...Acquisitions – How to do them – Part 1
We love Process Maps at The Portfolio Partnership. Models that have been stress tested in the field. I’d like to dedicate the next few blogs to one of my favorite Process Maps – The Acquisition Approvals Model. Like all my blogs I’m going to share it...How to Build a University Inside Your Business
Investing in your biggest asset, your people, is one of the simplest, cheapest and most effective way to build your business. The trouble is that most in house training is badly executed with no formal curriculum and little inspiration connecting all the moving parts....Dad, What Do You Do at Work?
Confusion This post was inspired by the recent WSJ article of the same name. Of course it’s a question we are constantly asked. In fact it is a deceptively important question that extracts some pretty weak answers. Ask a panel of CEOs at a conference to...Documenting the Earn-Out – Leverage Counts – Guest Post from Tim Bowers of K&L Gates LLP
As a follow-up to his November 26, 2010 installment of The Smith Report (entitled Buying a Company – Great time to deploy Earn-Outs), Ian asked me to take a deeper dive into the legal documentation of earn-out provisions in the M&A context. The earn-out is, as Ian...
Building the Perfect Budget!
For many management teams the month of December represents the Budget sign off time. In this climate you might be wondering does it matter, why bother? Well I think it does matter as long as it is prepared with the following mindset. A Budget is a set of rigorously...Sales: Ingredients of a World Class Sales Process
ShopperTrak estimates sales on Black Friday rose by 0.3% to $10.7Bn relative to last year. Inc 5000 celebrates “3 year sales growth” with this years winner, Ambit Energy posting a 20,369% increase, 2006 sales were $1.6m rising to $325m in 2009! Sales are...Buying a Company – Great time to deploy Earn-Outs
When Genzyme announced recently it was exploring a new deal structure to help resolve the impasse on price with bidder Sanofi-Aventis, it highlighted a great tool in the M&A world, the earn-out deal. They called the structure a CRV or Contingent Value Right, an...Operational Excellence For Exits
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