SUCCESSFUL ACQUISITIONS

M&A Insights from David Braun and Other Experts

Latest Articles

Memphis Business Journal David Braun Verso 2016

Verso Files for Chapter 11– What Went Wrong?

Capstone CEO David Braun’s Analysis in the Memphis Business Journal Verso Paper, after acquiring NewPage Holdings for $1.4 billion in January 2014, has filed for Chapter 11 bankruptcy. Verso, which manufactures coated paper used in products like magazines, is struggling in a declining market. With its new acquisition, the company failed to realize desired economies […]

CUSO M&A: Finding the Right Partner for Growth

CUSO M&A: Finding the Right Partner for Growth

Strategic mergers and acquisitions can be a powerful tool for growing your CUSO, but much of your success depends on finding the right partner. How can you identify the right partner for growth? The best way to begin your search is to identify the ideal markets in which to grow your organization. Once you have […]

M&A Express the LOI a Key Milestone

M&A Express Videocast “The LOI: A Key Milestone” Airs January 28

The Letter of Intent (LOI) is far more than a legal document. It’s a key milestone in the M&A process and can be a powerful tool for getting the deal done. The LOI provides an opportunity to solidify your relationship with the seller and brings about a new level of commitment and resolve to getting the […]

2016-01-19-elena-hruleva-barnimages-003

Mergers and Acquisitions: 2015 A Record Breaking Year

Despite record levels of activity, the current M&A market is still quite a bumpy ride for many. In 2015, deal value reached $2.3 trillion and 9,962 deals were announced in the U.S. Compared to 2014 numbers, we saw a very significant increase in deal value, while the number of deals was relatively flat (-1.6 percent). This […]

M&A pro con

What Are the Pros and Cons of M&A?

At Capstone, we are big proponents of using external growth and M&A to grow strategically, but it would be wrong to say that external growth is always the best way to grow. Every company’s situation is unique – there’s no “one size fits all” approach to strategic growth. For some companies, organic growth may be the […]

Capstone Launches New M&A U Webinar Certificate

Capstone Launches New M&A U™ Webinar Certificate

We are excited to share our expertise on strategic growth through M&A with our new M&A U™ Webinar certificate. The M&A U™ Webinar certificate will be awarded to those who attend all 12 monthly Capstone Webinars. Each live webinar features a seasoned M&A expert sharing practical tools and tactics to accelerate your company’s growth. CPE credits […]

best way to grow your business

What’s the Best Way to Grow Your Business?

As a leader, it can be difficult to determine the best way to grow your business. Some leaders find themselves stuck in the same rut and struggle to generate new ideas to spur growth. They realize business as usual or what worked 10 years ago will no longer work in today’s market. On the other […]

5 tips for strategic M&A in 2016

5 Tips for Taking a Strategic Approach to M&A in 2016

Acquisition can be a powerful tool for accelerating your company’s growth. 2016 may be the year you build on your capabilities, add new services or products, gain new customers or enter new markets. However, it’s important not to get swept away in the excitement of a deal and to remain strategic. A carefully planned, strategic […]

M&A in Review 2015

M&A In Review: Top Posts From 2015

2015 was the “strongest year for deal making on record,” according to Thomson Reuters.  Global deal value reached $4.7 trillion, a 42% increase from 2014, and U.S. deal value reached $2.3 billion, a 64% increase. Despite this record-breaking activity, the number of deals announced globally remained relatively flat and in the U.S., the number of deals actually decreased by 1.65% […]

Functional Due Diligence and Maintain Seller Confidentiality

How to Conduct Functional Due Diligence and Maintain Seller Confidentiality

Q: How often are you able to bring together both buyer and seller functional personnel during due diligence? Some sellers might be sensitive to confidentiality and not open to bringing their personnel into the fold. A: When conducting due diligence, we advocate a functional approach, where leaders from the buyers organization meet with the seller’s. There […]

Focus on Small Acquisitions

4 Reasons Why Focusing on Small Acquisitions is Best

In light of recent FTC rulings against market domination, Sysco has changed its M&A strategy to focus on smaller, strategic deals rather than large transformative deals. Although Sysco’s change is motivated by regulatory obstacles to larger acquisitions, using strategic, smaller deals is an excellent approach from a strategic perspective. We have long recommended that our […]

How will your credit Union Grow

How Will Your Credit Union Grow?

Credit unions’ traditional use of consolidation as one way to grow is a trend likely to rise over the next five years, according to industry experts. While the percentage of these deals climbs, there actually are fewer mergers because there are fewer credit unions. There were 4% fewer credit unions in September 2015 than one […]

Middle Market Companies Holding Onto Cash

Middle Market Companies Holding Onto Cash

Instead of investing in growth, companies this year have been holding more than $1.4 trillion in cash – close to a record $1.65 trillion in 2014. Oracle’s $56 billion cash stockpile is 1.5 times its sales and Cisco’s $60 billion in cash is 1.2 times its sales. Eleven companies have cash reserves double their annual […]

Navigating the Final Phase of M&A

Navigating the Final Phase of M&A

Signing the letter of intent (LOI) launches the final phase of the M&A process, where you delve into the details of due diligence, deal structure, closing the transaction and integration. In this third phase of the Roadmap to Acquisitions, Build the Deal, maintaining momentum remains critical. Even as the finish line is in sight, there […]

Narrow Comprehensive LOI

Narrow vs. Comprehensive Letter of Intent

The Letter of Intent (LOI) is an important milestone on the M&A process and is used to crystallize the most important terms of the deal. While the LOI is an important legal document, it also brings a new level of commitment and resolve to the deal. The LOI can be “narrow” or “comprehensive.” Narrow LOI […]

When do you call off a deal

Due Diligence: When Do You Call Off the Deal?

Cultural due diligence is a critical task in the acquisition process. It exposes hidden problems and risks, but also may identify opportunities. However, if you do uncover red flags, you may need to reevaluate the deal. Sometimes you must simply call it off.  We have walked away from a transaction when due diligence revealed a […]

What will happen in M&A in 2016

What will happen in M&A in Q1 2016? Dealmakers Weigh In

As we near the end of the fourth quarter, everyone is wondering what will happen in 2016. Will the frenzied M&A activity of 2015 continue into the new year? There seem to be mixed reviews on what activity will look like next year. The Intralinks deal flow predictor indicates a 7% increase in global M&A […]

Your role as a leader in successful integration

Your Role as Leader in a Successful Integration

Effective leadership plays a critical role in integrating companies following an acquisition. Challenges abound, for instance when disagreements arise between the executive team and the rest of the staff. How do you bridge the gap? Communicate painful decisions? Maintain calm during a period of change? As the leader of an integration process, you should: Be […]

Contemporary Legal Issues in M&A Webinar John McDonald

The Legal Side of M&A: What You Need to Know

Legal aspects are a critical component of any M&A transaction. Two documents come to mind in particular, the letter of intent (LOI) and the acquisition agreement. The first signals a mutual interest by both parties to continue exploring the deal, and the second is the legally binding agreement that seals the deal. The LOI is […]

Expedia Buys HomeAway

Expedia Follows Demand for Alternate Lodging, Buys HomeAway

Expedia will buy HomeAway, a vacation rental site, for $3.9 billion. With this acquisition — its largest since buying Orbitz in 2014 for $1.3 billion — Expedia will compete more directly with Airbnb. Airbnb, through which people rent their homes to travelers, has become more popular in recent years, both with consumers looking for a […]