In today’s competitive global market, organizations need to leverage every tool in their arsenal to stay ahead of the curve. One of the best ways to do this is strategic M&A. With the right approach, M&A can drive significant growth, unlock fresh opportunities, and expedite the achievement of strategic business goals. In this article, Yoav Zeif, CEO at Stratasys, shares his experience on achieving business growth through strategic M&A.
Things you will learn in this episode:
•The Start of their M&A Journey
•Strategic M&A framework
•Evolution of Strategy
•Working with the corporate development team
•How to ensure positive business outcomes during integration
This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to https://firmroom.com/
00:00 Intro
07:04 Start of M&A Journey
11:56 M&A strategy framework
18:58 Real-life acquisition scenario
20:20 Evolution of Strategy
23:59 Working with the corporate development team
26:29 Corporate development teams pitching deals
30:22 How to ensure positive business outcomes during integration
31:57 Big lessons learned
39:18 Retaining key people
40:26 Other lessons
42:42 Craziest Thing in M&A
This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to https://firmroom.com/
Russ Heddleston, Co-founder & former CEO, DocSend
Every owner loves their business. This makes selling their company even harder than it already is. But aside from the emotional turmoil that founders go through every exit, there are also a lot of intricacies included in the process.
In this episode of the M&A Science Podcast, Russ Heddleston, Co-founder & former CEO of DocSend, discusses the challenges of sell-side M&A.
Things you will also learn in this episode:
Considerations in Potentially Selling a Startup
Challenges of sell-side M&A
Key Factors for a Successful Exit
How to manage diligence in sell-side M&A
00:00 Intro
04:10 Starting DocSend
06:08 Identifying the Inflection Point to sell
09:01 Selling a Startup
10:46 Considerations in Potentially Selling a Startup
14:28 Best Time for an Exit
16:00 Balancing Stakeholder Interests in an Acquisition
17:50 Relationship Management in an Acquisition
19:46 How Relationships Influence Negotiations
20:41 Relationships with Bankers
23:14 Reaching out to DropBox
26:16 Key Factors for a Successful Exit
28:04 Impact of Market Conditions on M&A
28:45 The Unknowns of Selling a Business
30:53 Post-Acquisition Challenges and Unknowns
32:34 Enhancing Preparation for Post-Close Integration
34:05 Tips for Buyers for Smoother Integration
35:18 Challenges of Sell-side M&A
37:15 Efficiently Managing Diligence
38:46 People involved from pre-LOI to Close
41:36 Post-Acquisition Team Dynamics
43:01 Evaluating Alternatives to Selling
48:28 Fundraising Strategies to Minimize Dilution
49:44 Advice for Acquirers Seeking Successful Acquisitions
51:29 Effective Strategies for Corporate Leaders to Engage with Founders
53:14 Craziest thing in M&A
This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to https://firmroom.com/
Jason Mironov, Managing Director at TA Associates
Partnering with PE firms is a great way to exponentially grow a business and reach new heights. However, there are considerations that must be taken into account, before taking PE capital. Fully understanding them will increase chances of success, in the attempt to unlock the full potential of the business.
In this episode of the M&A Science podcast, Jason Mironov, Managing Director at TA Associates, discusses the pros and cons of taking PE capital.
00:00 Intro
05:29 The Lack of Operating Experience
07:03 Pros of taking money from a private equity firm
11:01 Other factors to take money from PE firms
12:49 Cons of taking money from private equity
17:16 Focusing on IRR
22:10 Culture of focusing on numbers
26:54 Working with Unhappy CEO
30:06 Board control
35:33 Expectation for the Board Structure
38:30 Dilution for founders
42:53 How to build and preserve wealth
47:20 Approach on partnership
51:03 Handling Inbound Contacts
56:51 Creating value before partnership starts
01:03:15 Working with the founder
01:05:38 Pushing M&A to portcos
01:08:51 Founder Exit
01:16:01 Timeline of investment
01:20:26 Craziest thing in M&A
This episode is sponsored by DealRoom. Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at www.dealroom.net.
Michael Frankel, Founder and Managing Partner of Trajectory Capital
When times are good, big companies tend to ignore their smaller business units, as they operate smoothly on their own. It is only when the economy gets tough that these little businesses get more attention, and often seen as off-strategy or a distraction. That's when the company's leaders decide it's time to sell them, which is not ideal, as the business is no longer in their prime, making it harder to sell.
In this episode of M&A Science podcast, Michael Frankel, Founder and Managing Partner of Trajectory Capital, joins us to share his best practices of selling a small business unit.
00:00 Intro
03:35 The decision to sell a business
05:01 Reasons to sell the business
06:43 Steps in selling a small business unit
09:59 Finding buyers
11:53 Avoid using bankers
13:30 Pitching the deal
14:50 Avoiding non-serious buyers
16:42 Important factors other than price
23:01 Real life example
27:54 Valuation gap
30:29 Evaluating the business
34:45 Hardest part of selling a small business unit
37:03 Advice for first time buyers
41:48 Proactively approaching a seller
47:25 Earnouts on small deals
48:44 Craziest Thing in M&A
This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to https://firmroom.com/
Selling your business is never easy. Aside from the emotional stress that it provides, it can also be detrimental to the business if it's sold to the wrong company. Oftentimes, during the process, it can also serve as a massive distraction to the operations, harming the business in the process.
In this episode of the M&A Science Podcast, we will discuss how to create a positive exit experience in M&A with Swapnil Shinde, CEO at Zeni.
Things you will learn:
• Reasons for the first exit
• Reacting vs Proactive Exits
• Hardest part of selling a business
• Role of sellers in Integration Planning
• Do’s and Don'ts of Buying a company
00:00 Intro
06:31 Reasons for the first exit
09:19 Venture Exit
12:19 Build to sell
14:03 Reacting vs Proactive Exits
16:28 Using Bankers during Exits
19:09 Hardest part of selling a business
21:30 Managing Diligence
24:28 Lessons Learned on Diligence
28:03 Keeping and building relationships
29:29 Role of sellers in Integration Planning
32:29 Reasons why Integration fails
34:49 Worst exit experience
36:31 Making integration successful
38:25 Do’s and Don'ts of Buying a company
39:41 Identifying Cultural Fit
This episode is sponsored by our products DealRoom and FirmRoom.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net.
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com
Chris Von Bogdandy, Global Lead M&A Solutions at Slalom
Revenue synergies are why you’re doing the deal in the first place. But unlike cost synergies that happen instantly, revenue synergies are more difficult to achieve and often go unrealized. One of the biggest problems in M&A is that when a company pursues a deal, different departments have varying perspectives on what's essential. So how do you maintain the deal thesis as a central focus?
In this episode of the M&A Science Podcast, Chris Von Bogdandy, Global Lead M&A Solutions at Slalom, discusses his framework for realizing revenue synergies in M&A.
Things you will learn:
•Importance of Revenue Synergies
•Correlation between M&A strategy and Revenue Synergies
•Understanding Customer Journey
•Planning for Revenue Synergies Pre-LOI
•Agile M&A
00:00 Intro
06:17 Importance of Revenue Synergies
09:58 Correlation between M&A strategy and Revenue Synergies
16:42 Timeline of Revenue Synergies
18:49 Realistic Revenue Synergies
21:14 Understanding Customer Journey
24:44 Planning for Revenue Synergies Pre-LOI
27:38 Capturing Revenue Synergies Post-LOI
31:04 Executing the Plan
34:21 Cross-Functional Work Streams
36:29 New product introduction process
40:15 Agile M&A
43:31 Disbanding team and workstreams
46:57 Top three principles to success
48:48 Advice for next generation of young leaders in M&A
This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.
To join our growing online community of M&A practitioners, visit https://www.mascience.com/academy.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net .
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com
Casey Nault, Senior Vice President, General Counsel and Chief ESG Officer at Coeur Mining, Inc. (NYSE: CDE)
ESG in M&A is very real. And while it is a fairly new term, it represents a range of critical issues and priorities that companies have long considered. In many ways, ESG has always been important and is essential for risk management and maintaining company value, even for for-profit organizations.
In this episode of the M&A Science Podcast, we will discuss how to focus on ESG in M&A, featuring Casey Nault, SVP, General Counsel, and Chief ESG Officer at Coeur Mining, Inc.
Things you will learn:
•Importance of ESG in M&A
•Balancing ESG and profit
•ESG diligence
•Red flags during ESG diligence
•ESG on cross-border deals
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This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to www.firmroom.com
00:00 Intro
07:31 M&A in the Mining Industry
09:26 Valuation and Deal Structures in the Mining Industry
13:51 Foreign Corrupt Practices Act
15:57 Importance of ESG
20:13 Disaggregating ESG
21:49 Sustainability in today's market
24:04 Balancing ESG and profit
26:52 ESG considerations during M&A
30:58 Evolution of ESG approach
32:41 ESG diligence
33:35 Red flags during ESG diligence
35:31 Deal Stoppers
36:36 Designated person sustainability
37:17 Diligence Execution during M&A
39:19 ESG on cross-border deals
40:55 Negotiations on cross border deals
42:47 Advice for practitioners
43:18 Craziest thing in M&A
Brock Blake, Co-Founder and CEO at Lendio
M&A is a never-ending web of complexities and challenges. While the potential for growth and transformation is promising, the chances of failure are extremely high. To increase chances of success, acquirers must learn how to be adaptable and work with the target company for alignment.
In this episode of the M&A Science Podcast, Brock Blake, Co-Founder and CEO of Lendio, shares their approach on how not to bomb your first M&A deal.
You will learn:
• How to drive your first deal
• Understanding the cultural aspect of M&A
• Strategizing acquisitions
• Validating assumptions before acquisition commitment
• Budget allocation for an earnout
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This episode is sponsored by our products DealRoom and FirmRoom
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at dealroom.net.
FirmRoom is the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to firmroom.com
00:00 Intro
06:02 Getting into M&A
07:14 First deals and their drivers
10:43 Second Acquisition
14:49 Third Acquisition
18:43 Understanding the cultural aspect
25:17 The new deal approach
29:10 Strategizing acquisitions
32:07 Validating assumptions before acquisition commitment
38:14 Budget allocation for an earnout
41:37 Craziest thing in M&A
Aaron Whiting, Chief of Staff at Crownpeak
Value creation in any acquisition relies heavily on how well the M&A integration goes. By focusing on integration, buyers can increase their chances of success in obtaining and realizing their intended synergies. But how well can it go if the company’s integration lead is a first-timer?
In this episode of the M&A Science Podcast, Learn the basics of M&A integration execution, with Aaron Whiting, Chief of Staff at Crownpeak.
You will learn:
How to coach a first-time integration leader
Getting ready for day one
Kickoff meeting strategies
Challenges during integration
Setting alignment for kickoff meetings
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This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.
To join our growing online community of M&A practitioners, visit www.mascience.com/academy.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at www.dealroom.net.
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience. Sign up in under 2 minutes by going to www.firmroom.com
Episode Bookmark
00:00 Intro
05:09 Coaching an integration lead
06:33 Involving the Integration Lead
12:42 Integration on Day one
17:49 Getting ready for Day one
22:31 M&A teams to pull in for integration
25:41 Kickoff meeting strategies
31:12 Maintaining regular cadence for good progress
35:53 Umbrella track
37:47 How to track integration activities
42:38 Challenges during integration
47:55 Mechanical things that could go wrong during integration
52:59 Setting alignment for kickoff meetings
56:26 What success looks like through stories
01:01:50 How to know when the integration is complete
01:03:42 Advice for first timers
01:07:48 Craziest thing in M&A
ChatGPT Voice, powered by OpenAI.
This past year, AI has revolutionized the way we do things, and ChatGPT has been a big part of that. Created by OpenAI, ChatGPT can understand and use language like a human, making it extremely useful in a lot of different areas. And now, we can actually talk to it.
In this episode of the M&A Science Podcast, we are introducing our first-ever ChatGPT interview. We are going to learn its insights on AI’s impact on the world of M&A.
You will learn more about:
AI’s role in deal sourcing
Streamlining due diligence using AI
Future of M&A
Limitations of AI
ChatGPT’s advice on integrating AI into M&A
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This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.
To join our growing online community of M&A practitioners, visit www.mascience.com/academy.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at www.dealroom.net.
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience. Sign up in under 2 minutes by going to www.firmroom.com
00:00 Intro
03:06 Revolutionizing M&A with AI
03:53 AI’s role in Deal sourcing
08:08 AI’s role in deal valuation process
12:41 Limitations of ChatGPT
14:05 Streamlining due diligence
18:00 AI’s impact on M&A integration
22:10 Case Study: Daimler Chrysler merger
25:15 Case Study: Amazon acquiring Whole Foods
28:14 Future of M&A
30:23 DealRoom
32:40 How to incorporate AI into DealRoom
35:57 Positive business outcomes using DealRoom
37:41 Ethical Considerations Using AI
39:28 Limitations of AI
41:04 Advice on integrating AI into M&A
43:10 Craziest thing in M&A
Dr. Karl-Michael Popp, Senior Director, Corporate Development at SAP (FRA: SAP)
In today's digital era, the pervasive influence of technology is felt in every facet of business, and Mergers and Acquisitions (M&A) are no different. The arrival of innovation and automation will soon make their way to the industry, streamlining processes that could bolster productivity and facilitate smoother post-merger integration.
In this episode of the M&A Science Podcast, Dr. Karl Michael Popp, Senior Director, Corporate Development at SAP, discusses in detail automation in M&A.
Things you will learn:
Measuring Strategy during automation
Strategic Fit Analysis
Identifying Targets
Quantifying culture in M&A
Impact of new emerging technologies in M&A
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This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.
To join our growing online community of M&A practitioners, visit www.mascience.com/academy.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at www.dealroom.net.
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to www.firmroom.com
00:00 Intro
07:10 Measuring Strategy
10:00 Structuring Strategies
13:53 Quantifying Metadata
16:24 Breaking it down into details to complete the strategy
18:49 Strategic Fit Analysis
20:06 Identifying Targets
22:40 Cascading of Strategy
25:33 Changing the strategy
27:11 Learning from the target company
31:18 Quantifying culture in M&A
32:47 Impact of new emerging technologies in M&A
34:50 Automation in M&A
39:27 The late evolution of M&A
40:51 Craziest thing in M&A
Anthony Krueger, Associate at Morrison & Foerster LLP
M&A comes in varying sizes. However, there’s a common misconception that smaller deals are easier to execute than larger ones. The truth is, that smaller deals come with their own unique set of challenges that could possibly make them even harder to do.
In this episode of the M&A Science Podcast, Anthony Krueger, Associate at Morrison & Foerster LLP, debunks this myth and discusses how to execute smaller deals and negotiate key legal provisions.
You will learn:
•The complexities of smaller deals
•Executing earnouts
•Reps and warranties insurance for smaller deals
•Working capital adjustments and its effect on smaller deals
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This episode is sponsored by the M&A Science Academy. If you’re looking to improve your in-house training, we have corporate training plans provided. Give your team members access to the best-in-class courses, templates, and networking opportunities in the industry. It’s also a great way to show your support for M&A Science. If you’re interested in learning more about individual or team plans, visit this page.
00:00 Intro
04:36 Smaller deals vs bigger deals
06:35 Complexities of smaller deals
06:52 Other layers of complexities
10:10 Earnouts
18:03 Reps and warranties
24:08 Fundamental vs General Reps and Warranties
25:35 Indemnities
28:40 Disclosure schedules
32:34 Caps and Baskets
35:52 Carve-out
36:44 Working capital adjustments
40:47 Deferred revenue
42:01 Accrued bonuses and vacations
44:12 Advice to those doing small deals
45:12 Craziest thing in M&A
Rajive Dhar, VP, Head of Corporate Development at NetApp (NASDAQ: NTAP)
For first-time acquirers, M&A can be challenging, as it comes with strenuous processes with many complexities that can turn the dream into a nightmare. However, with proper guidance, acquirers can have a smooth transaction and an amicable negotiation.
In this episode of the M&A Science Podcast. We discuss the intricacies of M&A from start to finish with Rajive Dhar, VP, Head of Corporate Development at NetApp, to help us navigate our first deal.
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This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.
To join our growing online community of M&A practitioners, visit www.mascience.com/academy.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at www.dealroom.net
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to www.firmroom.com
00:00 Intro
05:58 Different types of M&A
09:49 Corporate Strategy for M&A
12:37 Dealing with new customers
14:49 Acquiring competitors
17:13 Target screening
22:19 Opening up conversations with the target company
23:55 Initial Due Diligence
25:59 Diligence list
30:17 Sunsetting competitors product
33:02 Assessing culture
34:52 Putting an LOI together
39:58 Negotiating deal structure
46:41 Earnouts
55:44 Keeping relationships
1:00:13 Best advice for practitioners
Jim Ackerman, recent Vice President of Corporate Development at Flex; Steve Coghlan, Semi-recent Vice President of Corporate Development at Flex.
Every deal is different, which means each and everyone will present unique challenges that teams have to overcome. Especially when dealing with smaller companies. There is no such thing as a perfect deal. However, with the right mindset and approach, deals can still close and bring value to both parties involved.
In this episode of the M&A Science Podcast, Jim Ackerman, recent Vice President of Corporate Development at Flex, and Steve Coghlan, former Vice President of Corporate Development at Flex, discuss their experiences on M&A surprises and horror stories.
This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to www.firmroom.com
00:00 Intro
05:06 Sourcing deals
08:24 Key things to ask during the first meeting
11:49 How to get exclusivity
15:01 How the governance works
16:41 Due diligence red flags
17:21 Cultural integration
19:46 Working with the board
23:54 Best way to pitch a deal to the board
24:34 Stakeholder management in the board
25:40 Managing M&A surprises
29:30 Good M&A Surprises
34:37 Accounting surprises
36:30 Private deal surprises
40:39 IT surprises
42:33 Surprises between signing and closing
45:38 How to mitigate risks and surprises
46:13 What trap currency is
48:04 Integration surprises
50:40 Mitigating surprises from integration
54:25 Instilling clear and purposeful communication
55:23 Hardest step to do in M&A
56:10 Worst deal ever done
59:11 Best advice
1:00:12 Craziest thing in M&A
Nicole Markowski, Manager and Corporate Development at Wipfli LLP
More than the numbers, relationships can make or break a deal. Regardless of the deal rationale, strong, trusting connections between parties can lead to smoother negotiations, clearer communication, and a greater likelihood of mutual satisfaction in the end result.
In this episode of the M&A Science Podcast, Nicole Markowski, Manager and Corporate Development at Wipfli LLP, delves into the importance of cultivating positive relationships to drive M&A success.
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This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.
To join our growing online community of M&A practitioners, visit www.mascience.com/academy.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at www.dealroom.net.
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to www.firmroom.com
00:00 Intro
07:04 The importance of relationships in M&A
09:25 Key people to build relationships with
15:55 How to foster and develop relationships
23:03 How to engage with key people
25:27 Approach to build relationships
28:30 People assignment for developing relationships
30:47 Delegating tasks in building relationships
34:22 Key acquired company people to build relationships with
36:31 Handling resistant groups
39:25 People problems and how to address them
45:57 Advice to first-time practitioners
47:45 Craziest thing in M&A
Samuel Wilson, Chief Executive Officer at 8x8 (NASDAQ: EGHT)
In the grand scheme of things, every M&A must make financial sense. Whether it’s cutting cost, increasing revenue, or achieving operational efficiencies, it all boils down to the numbers. After all, every company’s main goal is to grow and increase profit for its shareholders. It is why the Chief Financial Officers play an integral role in M&A.
In this episode of the M&A Science Podcast, we will explore M&A from a CFO’s perspective, featuring Samuel Wilson, Chief Executive Officer at 8x8.
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This episode is sponsored by the DealRoom and FirmRoom.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at www.dealroom.net
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to www.firmroom.com.
00:00 Intro
07:55 The Role of CFO
11:39 Risk Management
14:39 Integration aspect
15:54 Alignment on assumptions
18:14 Managing people
19:28 Best integration practices
21:25 Working with the CEO
22:52 Walking away from a deal
27:10 Getting involved in the deal
29:50 Tying the Strategy
33:36 Integration Budgeting
39:43 Working with corporate development
40:54 Advice for first time acquirers
44:04 Craziest thing in M&A
David Barnes, Chief Financial Officer at Trimble Inc. (NASDAQ:TRMB)
Chief Financial Officers (CFOs) play a pivotal role in shaping the destiny of strategic ventures. Beyond their traditional financial responsibilities, these financial architects hold the key to unlocking the full potential of mergers and acquisitions.
In this episode of the M&A Science Podcast, we explore M&A from a CFO’s perspective with David Barnes, Chief Financial Officer at Trimble Inc.
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This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.
To join our growing online community of M&A practitioners, visit mascience.com/academy.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at dealroom.net.
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to firmroom.com.
00:00 Intro
04:29 The Role of CFO
05:14 How the CFO’s roles differs from the CEO
06:24 Decision-making process and approvals workflow
09:43 Communicating opportunities
11:15 Prioritization
14:18 Balancing the allocation of budgets
16:42 How equity compensation works
18:14 How aligned investment analysts are when evaluating a company
20:08 Forecasting deals
22:53 Priorities when looking at deals
26:49 Balancing priorities when structuring earnouts
28:31 Understanding a company’s culture
31:08 Integration from a CFO’s perspective
33:49 How the speed of integration impacts value realization
37:05 Biggest lessons learned as a CFO
39:23 How to pitch deals to the CFO
41:38 Craziest thing in M&A
Joe Metzger, Managing Director at 777 Partners
Navigating a career shift can be a transformative experience, unlocking new opportunities and challenges. For Joe Metzger, Managing Director at 777 Partners, diving into the world of private equity was an exciting path to explore. It's a chance to grow expertise, collaborate with diverse entities, and embrace strategic growth.
In this episode of the M&A Science Podcast, Joe shares his amazing journey shifting from corporate development to private equity.
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Craving for fresh, actionable M&A insights? Dive into the M&A Science Fall Summit this Nov 8th! Unlock secrets on integration, valuations, talent retention, and more from top M&A minds. It’s all the ‘how-tos’ you need, and it’s FREE! Secure your spot at mascience.com.
00:00 Intro
05:02 Transitioning from Corporate Development to Private Equity
08:59 Corporate Development role vs Private Equity role
12:10 Seeking employment opportunities
16:16 The efficient frontier concept
20:06 Are you happier in private equity than in corporate development?
24:17 How to negotiate employment offers
26:48 Other things to negotiate in employment agreements
30:47 How to land a PE role
33:34 Advice to those considering transitioning between Corp Dev and Private Equity
34:52 How to transition to a PE role from a VC and M&A role
36:03 Craziest thing in M&A
Chris Evans, Experienced M&A Leader | former Head of CorpDev Integration at Amazon and Scott Boyd, Deputy Director, Strategy Implementation at Bill & Melinda Gates Foundation | former Head of Integration for AWS. (NASDAQ: AMZN)
Change management is one of the most crucial aspects of M&A. While integration involves multiple facets, from supply chains to customers, change management is solely focused on the employees. This can make or break a deal, as employee retention is one of the main ingredients to achieving synergies in a timely manner.
In this episode of the M&A Science podcast, Chris Evans, former Head of CorpDev Integration at Amazon and Scott Boyd, former Head of Integration for AWS, discusses integration strategies change management person. particularly the nuisances of change management.
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Craving for fresh, actionable M&A insights? Dive into the M&A Science Fall Summit this Nov 8th! Unlock secrets on integration, valuations, talent retention, and more from top M&A minds. It’s all the ‘how-tos’ you need, and it’s FREE! Secure your spot at MAscience.com!
Episode Timestamps
00:00 Intro
02:26 Integration Strategy vs Change Management
06:50 Definition of Change Management
09:55 Dedicated Person for Change Management
14:03 Change Management Planning
16:16 Most Effective Approach to Change Management
19:32 Common Challenges during Change Management
24:25 Practical Tips for Change Management
26:49 Hardest Step in M&A
33:38 Craziest Thing in M&A
Chris Evans, Experienced M&A Leader | former head of CorpDev Integration at Amazon and Scott Boyd, Deputy Director, Strategy Implementation at Bill & Melinda Gates Foundation | former Head of Integration for AWS. (NASDAQ: AMZN)
In the complex world of M&A, the difference between a successful deal and a failed one often hinges on integration. Proper integration, driven by a harmonious fusion of strategy and execution, ensures that the merging entities can effectively combine their strengths and navigate potential pitfalls.
In this two-part episode of the M&A Science Podcast, we dive deep into the heart of integration strategies and underscores the pivotal role of the integration team during the due diligence process, featuring Chris Evans, ex-Head of CorpDev Integration at Amazon and Scott Boyd, former Head of Integration for AWS.
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00:00 Intro
06:11 Types of Integration Strategies
09:14 Transformative Integration
11:39 Deals Easy to Integrate
13:24 Most difficult thing to Integrate
15:40 Timeline of integration planning
20:26 Benefits of Integration teams running diligence
25:49 Integration Teams’ Diligence Execution
28:46 Structuring the M&A Function
34:39 Consistency vs. agility
40:10 Understanding culture pre LOI
44:34 Working with inexperienced business leaders
46:59 Questions to ask pre-LOI as an Integration leader
Roy Schoenberg, President & Co-CEO at Amwell - American Well Corporation (NYSE:AMWL)
The healthcare industry is a complex and rigid space where change is often rejected. Any evolution in this sector not only signifies business decisions but also influences the overall quality and accessibility of patient care.
In this episode of the M&A Science Podcast, Roy Schoenberg, President & Co-CEO at Amwell, delves into the intricacies of navigating M&A in the healthcare industry.
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This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.
To join our growing online community of M&A practitioners, visit www.mascience.com/academy.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at www.dealroom.net.
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to www.firmroom.com.
Episode Timestamps
00:00 Intro
04:26 Evolving from a medical background to M&A
07:27 What makes the healthcare space distinct
09:36 What drove Amwell to do acquisitions
13:03 Shaping the acquisition strategy
16:59 Amwell’s first acquisition
22:29 Integrating the new company
24:50 Retaining key people
28:33 First acquisition lessons learned
31:03 Dealing with transaction surprises
34:03 Approaching deals as one of the main principal
38:01 Deal sourcing
39:49 Managing relationships with the counterparty
41:30 Communication during diligence
43:14 Craziest thing in M&A
Mark Rayfield, CEO of Saint-Gobain North America (EPA: SGO) and CertainTeed
Integration is not just about combining processes and systems. It is about bridging cultures and creating a shared identity. However, integrating two organizations can be complex, especially when it comes to managing major cultural differences.
In this episode of the M&A Science Podcast, we explore key strategies for effectively balancing culture during an integration, featuring Mark Rayfield, CEO of Saint-Gobain North America and CertainTeed.
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This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.
To join our growing online community of M&A practitioners, visit www.mascience.com/academy.
Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at www.dealroom.net
FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to www.firmroom.com
00:00 Intro
05:50 Culture in M&A
09:59 Acquiring a competitor
11:18 Team Alignment
13:24 Understanding culture
15:45 Difficulties of Culture
16:52 Improving decision-making
18:55 Challenges for smaller companies
20:37 Lessons learned from acquisitions
24:58 Establishing strong communication
27:14 Advice on Integration
31:08 Retaining lessons learned
32:49 Ensuring deal value
34:40 Governance and M&A activities
37:20 Success metrics
38:59 Messaging with key investors
40:20 Non-core acquisitions
41:19 Cultural aspect of non-core acquisition
43:02 Craziest thing in M&A
Dr. Irit Yaniv, Founding Partner and CEO at Almeda Ventures (TLV: AMDA)
While most investors have a passive role in their portfolio company, some investors are active in shaping and contributing to its success. For venture capitalists, one of the best scenarios is for the portfolio company to be acquired to maximize investment returns.
In this episode of the M&A Science Podcast, Dr. Irit Yaniv, Founding Partner and CEO at Almada Ventures, discusses what investors can do when planning and executing the exit.
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This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to www.firmroom.com
00:00 Intro
03:26 M&A in the medical device industry
04:49 Minority position during Investment
05:35 When to think about an exit
06:59 Getting involved in the exit
09:57 Working with the CEO
12:03 Keeping track of potential acquisitions
14:34 Finding the right buyer
17:55 Managing exit planning disagreements
20:34 Who controls exit decisions
22:23 Negotiation
25:37 When to engage with a banker
36:51 Advice on planning an exit
38:11 Bad exits
40:29 Other takeaways
42:35 Craziest thing in M&A
Barak Routhenstein, Vice President of Corporate Development at Profile Products
The collaboration between a Private Equity (PE) firm and a portfolio company during an acquisition is a powerful partnership. Together, they create a synergistic environment where growth and value thrive.
In this episode of the M&A Science Podcast, we will explore insights from Barak Routhenstein, Vice President Corporate Development at Profile Products, on how PE firms can provide invaluable support to portfolio companies during the acquisition process, setting the stage for success and maximizing value creation.
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Join us on October 5th, 2023, in New York City for the M&A Science Fair 2023. Dive into a transformative M&A experience that not only emphasizes participant-driven topics but also offers an unparalleled opportunity to network with the industry's top minds.
You can elevate your M&A practice with actionable insights and top-tier networking. The event is invitation-only to ensure a curated experience. Secure your invite today!
00:00 Intro
03:57 Changes in the M&A landscape
04:39 Changes in private equity acquisitions
08:14 Go-to-market
10:48 Deal origination
12:19 International deals
14:25 How PE firms look at acquisitions
15:48 Bad cultural fit
18:40 Relationship with PE firms
20:20 Ideal PE-sponsor relationship
21:45 Managing deal sourcing conflicts
22:38 Approval process
24:44 Sustaining support from PE firms
27:08 Reporting structure
29:54 Advice for PE firms in supporting portfolio companies
32:54 Staging productive meetings
35:01 Keys to pitching a deal
38:46 Approaching target company relationships
41:28 Managing underperforming acquired companies
42:18 PE firms buying other PE firms
43:26 Craziest thing in M&A
Glenn Sanford, CEO eXp World Holdings, Inc. (NASDAQ: EXPI)
For high-growth companies, M&A is almost inevitable. If done right, it could speed up growth and open new opportunities for the acquiring entity. However, it’s not without challenges, as it can also be destructive and destroy both companies involved.
In this episode of the M&A Science Podcast, Glenn Sanford, CEO eXp World Holdings, Inc., discusses the art of M&A, and striking the right balance between integration and autonomy.
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Join us on October 5th, 2023, in New York City for the M&A Science Fair 2023. Dive into a transformative M&A experience that not only emphasizes participant-driven topics but also offers an unparalleled opportunity to network with the industry's top minds.
You can elevate your M&A practice with actionable insights and top-tier networking. The event is invitation-only to ensure a curated experience. Secure your invite today!
00:00 Intro
03:51 EXP’s acquisition history
05:31 Reasons behind EXP’s acquisitions
10:12 Acquiring Success Magazine
14:22 Factors to consider when looking at potential targets
17:49 Understanding a company’s culture
20:13 Reverse merger
24:38 Capital structure evolution
27:05 Managing relationships with the board of directors and shareholders
31:19 Managing integration
36:47 Other lessons and takeaways
39:03 Craziest thing in M&A