Amancio, Sabih, Melissa discussed on M&A Science

M&A Science


Be able to figure out what's bent sure. Your point is winding read them into the transaction in the background while during the deal what the value creation drivers are and once they be critical in terms of the day one activities to ensure that smooth transition so finding the right time to begin the hand off. I think as a charter earn. Yeah melissa and i have an internal battle and i with myself all the time around the integration kickoff. Ideally i don't wanna have to run an integration kickoff because all of the individuals professionals who are going to be ryan that integration deals of the is that typically work with should've already been engaged earlier on if i have to run a separate brand. New team integration kickoff in means that we just created that castle now were transferring knowledge over. Were teaching them about system. What's the point. I have an integration kickoff Every time i do feel dirty about it means. I didn't get the guys in early enough. And now we've created that gap so solving for that in something that i hadn't gotten comfortable with because you mentioned the timing and especially the level of professional which may be working with. You may not be fully into diligence Close because you could be for one channel or amancio at risk. I'd rather have a kickoff meeting with a brand new team. That will address. And every time i do it at I can tell you know on the front. And certainly not as definitely a tough. One crack idea ensure alignment with the target company. Post both a lot of those positions in half an early on during the diligence feeds. Actually when you're negotiating. I think the purpose vermin. That's when you start to ally certain incentives to make sure that the company is going to be focusing on right thing but a go forward basis strategy session i think more so host flows by you wanna lay the groundwork for those discussion earlier on. There is a lot of conversation. A lot of back and forth happens when you're talking about the bill thesis and sometimes you can't necessarily obviously we're all duration on the front end and fired a closing depending on the type of acquisition circumstances. Every dealer is so different. Fly the more that you can do on the front end to clarify what the go to market strategy is gonna be going forward what the personal point is going to be. What's the timing of any sort of concert. His were focusing on both from an operational perspective as well as from a technological perspective and have those conversations sucre early on and diligence phase so as you approach the end as you approach the hand off to integration your practically communication documents younger not negotiating or having those difficult conversations while drafting and i thank you for employees or you wanna make sure everybody's clear. I also want say that being the buyer not situation gives you wrote it for leverage because the other day like your wireless company. It's going to be your business. Certainly planning leaderships plays. They would be all so you have a little bit leverage but it's still has the cloud process hit that at must have an. He's got the harder job. There is maybe one time. I got the job Or de That conversation as he mentioned is really inevitably should in there. Some stuff that maybe can't or out of front as early as he wants to. Otherwise so as that conversation evolves as we get to that handoff reclosed to shore. There's alignment there. That's where i'm working with sabih to really punctuate and clarify that messaging so that pre close a immediately after close. We know that everybody is at the same direction. Ovoid those tough conversations have been minimized as soon we've worked. But if they haven't been that's where we come together and really draw clear boxes around all go for transparency. Really get the thinking about what integrations actually going to entail an evolved early so that there's clarity on it sooner than later and no dramatic surprises just out of that. I think if there are certain plus in the purchase agreement that talk about some of those things retaining. She things like that. I think the hudson making sure that objectives aligned certainly gonna anything in regards go walk extravagant perks permit by exceed. There is understand the motivations and the seller. Why are they selling. This business was a lifestyle business farther importance important to them and then making sure that what are placing you have to. The business are without his vomit havoc again if the central comes as the big need to be having at the start to have a little bit early on we set the stage for them but one sticker potential up deal. I think those conversations you have post folks as opposed to for example a something like that personnel perspective if the seller is motivated or wants to make sure that all of their employees for example taking care of all the sales folks who care for. And you've got for their their technology there are developers and you plan to their platform or you're planning on phasing out and it looks like you've taken out. Competitor for instance then. Maybe you don't necessarily have that conversation. Prior to closing terms of what your plans are for offers or what. Your plans are for their platform. Those are things where would say well. We're going to post. We're gonna take a close look at both products figure out which truck makes more sense for our target markets than what our business out of years you kind of lay the groundwork before headed. Just let him know. That could be either or it could be their platform or good. The yours ends of retired by thank that if for example are really traveled on them. You don't have real meeting. Conversations around words assumption the third example the really drive as transparent as possible but at times sensitivity. Where you gotta make a tough call. Absolutely reinsure team alignment during villages. You start with opposite kickoff meeting. I liked to have indulgence kickoff.

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