David Braun is the founder and CEO of Capstone Strategic and author of Successful Acquisitions: A Proven Plan for Growth. His specialty is helping companies grow through acquisition.
Through consistent focus on this one specialty, David has built up a formidable expertise that has led to an acquisition success rate way beyond the industry average.
David Braun is a sought-after educator who has been teaching senior executives and financial professionals for over 21 years. His live seminars and online webinars are in high demand, and his blog is widely read by M&A professionals, business owners and all who wish to understand the dynamics of growth through company acquisition.
As you focus your attention on the growth of your company, there are five key pathways to consider: Grow Organically Exit the Market Be the Low-Cost Provider Do Nothing Pursue External Growth Before you even start planning an acquisition, remember there are other growth options available. It is an important realization that you do have […]
I always emphasize to my clients the critical value of painstaking market research and selection before considering individual prospects. Simply by conducting thorough research, you immediately separate yourself from the majority of company buyers and place yourself at an important competitive advantage. Choosing Market Criteria Choosing the correct market criteria may be tricky. Here are […]
Burger King and Tim Hortons announced on Sunday that they would merge into a single enterprise with $22 billion in revenue and 18,000 restaurants worldwide. A new parent company headquartered in Canada would be created in what technically is a tax inversion, although tax savings are not driving the merger itself. The main strategy is […]
Thanks for your kind words. Great seeing you on yesterday's webinar.Commented on Credit Unions Embrace Strategic Mergers and Acquisitions.
Middle market companies have faced many challenges to growth, but the tide is now turning. Previously, we had observed the dumbbell effect, where at either end of the spectrum massive corporations and small businesses flourished while middle market companies were caught in between. Unlike large multinational corporations, many middle market companies cannot leverage the same […]
“Why should I let you buy my company?” Chances are an owner will ask you this question during the course of your acquisition and you must have a convincing answer. While the strategic fit and benefits of an acquisition may be abundantly clear to you, an owner may not share your perspective. As a leader, […]
I am excited to announce the launch of our new quarterly newsletter, The M&A Growth Bulletin. This newsletter will deliver essential guidance on growth through M&A along with tips and tactics drawn directly from successful transactions completed in the market. In the first issue of The M&A Growth Bulletin, we will address five common objections leaders […]
During due diligence most companies will present you with their formal documents including HR manuals, procedures, financials and organizational charts. It’s not enough to rely on these documents alone; if you want to know what a company is really like, you’ll have to dig a bit deeper. One way to go beyond the surface is […]
Walmart will acquire web retailer Jet.com for $3.3 billion in order to boost its online business. The deal is the largest ever purchase of U.S. e-commerce startup. While Walmart has plenty of bricks and mortar stores, the company has struggled to grow its online business. Walmart knows it needs to be competitive with Amazon who […]
After signing a letter of intent, you expect the deal to close, but there are a number of reasons acquisitions fail ranging from regulatory hurdles to unexpected challenges that arise during due diligence to cultural clashes. In my last post, I discussed reasons deals fall apart even after both parties sign a LOI. Here are […]
Remember that just because a deal is announced, it doesn’t mean it will go through. A record number of M&A transactions announced in 2015 have been cancelled bringing the total deal value down from $4.374 trillion to $78 billion. Unfortunately cancelled deals mean a lot of time, resources and effort were wasted putting together these […]
Unilever purchased Dollar Shave Club, a startup that sells razors and grooming products to men, for $1 billion. That price may seem absurd for a company that is not yet profitable, however Dollar Shave club is growing quickly. The company’s revenue is expected to jump from $152 million in 2015 to $200 million in 2016. Dollar […]
One of the primary reasons acquisitions fail is because of integration challenges post-closing. Implementing your integration plan smoothly and effectively is key to realizing the synergies of your acquisition. In a KPMG survey, U.S. executives cited a well-executed integration plan as the top factor that leads to deal success. Integration is a massive undertaking that you […]
Another blockbuster tech deal was announced yesterday. Verizon will acquire Yahoo’s core business for $4.83 billion to boost its digital advertising capabilities. The deal includes Yahoo’s search, mail content and ad-tech business, but does not include Yahoo’s shares in Alibaba and Yahoo Japan. The combined company will reach over one billion users. Verizon plans to merge Yahoo […]
You’ve spent a lot of time, energy and money on an acquisition…but should you still go through with it? In answering this question, it can be tempting to cite the amount of resources that have already been invested as reasons to follow through with the deal, but this would be a mistake. These sunk costs […]
For an owner of a privately-held company, the business is their baby and using hard-nosed tactics to negotiate for the lowest price is ill-advised. The human factor cannot be overlooked when pursuing M&A and establishing trust with an owner is critical. Buying a privately-held business is not like buying a car where you can negotiate the […]
You’ve developed your strategy, identified the right markets, negotiated with the owner and papered the deal. If you think once you sign on the dotted line your job is done, you are mistaken. The M&A process doesn’t end when the deal closes. M&A is really a journey “from beginning to beginning” where the consummation of […]
On June 23 the United Kingdom voted to leave the European Union (E.U.). Many were shocked at the outcome of “Brexit” and the markets reacted badly. The day following the vote, the pound dropped down to the lowest level against the dollar since 1985, stocks in the U.K. and U.S. fell, and on June 27 […]
It can be easy to get stuck in the rut and slip into a routine. Far too often leaders stay the course simply because “it’s how we’ve always done things.” However unintentionally maintaining business as usual can be extremely dangerous for the future of your organization. The reality is that as time passes, your markets, […]
Most people tend to go with their “gut” when making decisions rather than relying on the accurate data. You might think you’re the exception, but studies conducted by psychologists Daniel Kahnerman and Amos Tversky show that “when it comes to decision-making, humans are predisposed to irrationality.” No one likes to think of themselves in this […]
Some might say the best time to pursue an acquisition is when the right opportunity comes along, but they’re wrong. The best time to pursue M&A is whenever you are ready. The best opportunities are those that you seek out proactively. If you wait around for opportunity to come to you, you may be missing […]
Negotiating during an acquisition can be tricky at times. How firm should you be? What does the other side really want? How can you get the seller on board? It can be tempting to hand it over to the experts when you reach this point, but this would be a mistake. During negotiations, your primary […]
During formal due diligence, which typically begins after signing the letter of intent, you gain access to in-depth information and begin taking a closer look at the acquisition target. Traditionally the primary purpose of this stage of the M&A is to identify significant risks that could impact the terms of the deal or put it […]
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