Kelley Blue Book for second hand companies doesn’t exist but hopefully this post will explain how a buyer thinks when valuing acquisition targets. Basically you need to establish some key facts and understand the basic formulas used, recognizing that each sector will...
I’ve been talking to Tom Deans (best-selling family business book) and John Leonetti (Great book – Exiting Your Business, Protecting Your Wealth) about the renewed interest in exit planning. The next 5 years are an unreasonably important time to be...
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...
This is the second paper in a series offering some advice on a better acquisition process. The Acquisition Approvals Process is a six phase process covering: strategy, identifying targets, target contact and assessment of value, negotiation, legal completion and post...