There is probably no greater truth in all M&A activities – for Buyers, Sellers and M&A Advisors alike – than “Time Kills All Deals.”
In my experience, no other factor has caused more potentially good deals to go bad than letting the M&A process between two parties drag on and on until it eventually grinds to a halt.
While M&A Advisors play a large role in leading/setting the pace of negotiations, due diligence and pre-closing preparations, all parties share responsibility for ensuring that they – and their advisors – come to the discussions fully prepared and poised to give this matter their full attention and priority.
Whether you’re a Buyer or a Seller, your M&A Advisor should provide you with a checklist of the Things You’ll Need To Get Started, as well as a much more detailed checklist of Things You’ll Need to Complete Due Diligence.
Some tips to keep you out in front of the process:
- Assemble basic information in advance
- Prepare a Confidential Company Information Memorandum, including all of the basic documents, and update it regularly.
- Contact legal, financial, & accounting advisors to let them know what’s going on and that you’re counting on their full and timely support
- Stay focused on your primary goal which should be: Getting the Deal Done, and make certain that all parties keep their egos in check
If you know of a business owner who’s thinking of selling or buying a business and who might benefit from a complimentary consultation with us, have them contact me, or any of the M&A professionals at www.bradwaygroup.com
By: Mike Ertel, Transworld M&A Advisors