SUCCESSFUL ACQUISITIONS

M&A Insights from David Braun and Other Experts

Latest Articles

Why Buy? The Case for Growth through Acquisition

The right acquisition can dramatically accelerate your company’s growth. Sadly, great opportunities are widely missed, especially in the mid-market. Many companies shy away because the whole field of M&A seems too intimidating. There are others who attempt acquisitions and are disappointed by the outcome, often because they try to follow a rote system overly focused […]

Private Equity Steps Back From Acquisitions

This isn’t the time to be down on private equity. They aren’t the bad guys and they brought a lot of value to companies in recent years. But the growth economics have changed. Private equity buyers have wrung out much of the financial value from these companies. When it comes to business acquisitions, it’s time […]

A Win For Strategy

Much of the buildup that’s been happening over recent years in the residential mortgage market is similar to what has been going on in the commercial market. It’s all about financial engineering. Typically, the financial investor looks at an acquisition and says: “Let’s restructure the balance sheet so that the company doesn’t fundamentally change. We […]

The Return of Simplicity in M&A

When the smoke clears and the dust settles, what does the Wall Street meltdown mean? We’re back to cash is king. The Golden Rule has been restored: he who has the gold, makes the rules. It’s a return to old-fashioned investing. Companies with strong balance sheets and lots of cash are moving in to make […]

Dollar Blues? Currency Value and Mergers & Acquisitions

In the current crisis, people are rightly concerned about a declining dollar and its impact on all aspects of business, including Mergers and Acquisitions. Outbound, the weaker dollar is making it more difficult for US companies to make acquisitions abroad, because they’re now more expensive. On the inbound side the impact has been positive. We’ve […]

In M&A-Two Ways To See Value

I was asked the other day about the meaning of “enterprise value”. We have two different terminologies that are used in the marketplace: enterprise value and equity value. Enterprise value is the value of a business including its debt. Equity value is the value of the business debt free. In some situations, you might be […]

Blood in the Water

It’s been a dramatic time for investment banking, and many people are anxious. We probably haven’t seen the bottom yet, but there’s no cause for panic. In fact, good things may come from this latest turmoil. Take Lehman, the smallest of the four majors. They had tremendous exposure to real estate and their balance sheet […]

Which Way M&A?

There’s some confusion around about the direction of the M&A market, and it comes from seeing the market as an undifferentiated whole. For example, a recent article in the New York Sun predicts a comeback in M&A activity after a year in the doldrums.  The article is generally correct and I do see a strong […]

The Wedge: M&A from $1B – $10B

If you look at the divide in the M&A market, the growth you will see is in strategic acquisitions — either very large or very small. Where we can expect the least amount of activity is what I call the wedge: $1B to $10B transactions. This market sector is inherently ripe for private equity. It […]