Maintaining Bargaining Power During the M&A Process – Part 1

Maintaining Bargaining Power During the M&A Process – Part 1

Part I: Driving Up Enterprise Value in a Down Market
George P. Shenas, Esq. hosts Phillip L. Currie, Managing Partner of Shoreline Partners, LLC
George asks Phil how an investment banker helps sellers deal with a down market. Phil describes his role in an M&A transaction, including normalizing or recasting the financials, as well as finding and evaluating the “magic” of the company. Phil emphasizes looking at the future potential of the company, not its past performance, when marketing a company. The key to marketing an M&A transaction successfully, therefore, is determining the capabilities of your company in the hands of the right buyers with greater financial and distribution strengths, and then convincing such buyers that your determination is correct. Phil shares his perspective on a marketing paradox: buyers seldom are purchasing that which the sellers think they’re selling – when selling your company, the business itself is the “product,” not the product your business happens to be producing.

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