M&A Science

Ritika Butani, Head of Corporate Development at Toast

This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.

To join our growing online community of M&A practitioners, visit https://www.mascience.com/academy. Don't forget to use code "podcast" at checkout.

Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net

FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com

00:00 Intro

04:22 Secrets to overcoming hurdles

05:51 Challenges in M&A

09:58 Complexities of smaller deals

12:43 Handling people in a smaller company

13:50 Cultural assessment

15:24 Culture ends up killing the deal

17:03 Tax Issues

18:58 HR issues

20:44 Contractual Issues

23:41 Change of control and assignment

25:05 Risks Mitigation

26:58 Finding good lawyers

28:34 Integration planning

30:05 Integration planning vs. hypothesis

32:44 No dedicated integration lead

34:34 Principles of doing deals

37:31 Non-negotiables

39:40 Dealing with issues

41:44 Surprise Issues

44:08 Craziest thing in M&A

Finn Haley, SVP, Corporate Development at Edwards Lifesciences (NYSE:EW)

This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.

To join our growing online community of M&A practitioners, visit https://www.mascience.com/academy. Don't forget to use code "podcast" at checkout.

Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net

FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com

00:00 Intro

08:53 Option structure

14:04 Exit cap

16:11 Drivers for the structure

18:28 Alignment with the strategy

20:35 Monitoring progress and milestones

22:16 Moving fast

24:08 Failed startups

26:16 Risks

30:09 Exercising the option

33:54 Why deals don't push through

38:53 Innovation

40:13 Approaching a company for the buy-to-build option structure

43:20 Craziest thing in M&A

Mark Legaspi, Director, Legal - Corporate at LinkedIn

Hello M&A Friends, if you're looking to improve your in-house training, we have corporate training plans provided through M&A Science Academy.

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00:00 Intro

02:53 Key Considerations for M&A in 2023

05:22 Regulatory Challenges

09:41 Effect of Regulatory on Negotiations

15:43 Managing Value

17:51 Other Considerations Regarding Regulatory Risks

20:38 Suing the Regulatory Bodies

32:18 Regulatory Effects on Employees

34:08 Other Deal Killers in M&A

38:04 Trademarks Killing Deals

40:30 Market situation with IPs

42:22 Deal Breaks Due to IP

43:48 Advice for Deal Teams

46:39 Craziest thing in M&A

David Hindley, VP of Corp Dev at Autodesk (NASDAQ: ADSK)

This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.

To join our growing online community of M&A practitioners, visit https://www.mascience.com/academy. Don't forget to use the code "podcast" at checkout.

Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net.

FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com

Episode Timestamps

00:00 Intro

05:00 The Evolution of M&A Functions

06:48 Deal experience as a Banker vs. Corp Dev

15:04 Leading an evolving M&A function

16:13 How the strategy evolved

18:07 Scoring opportunities

19:28 Speeding up the evolution for efficiency

21:31 Working with functional leads

22:29 Aligning the functions

24:10 Business Units

25:08 Corporate Development structure

27:57 Accountability

29:11 Working with integration folks

32:41 Evolution of the governance model

33:56 Success metrics

35:42 Retaining deal learnings

37:04 The hiring process

40:19 Lessons learned

41:26 Craziest thing in M&A

Staci van Schagen, Head of M&A Integration & Disentanglement at Philips

This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to https://firmroom.com/

Episode Timestamps

00:00 Intro

05:40 Running global Integrations

08:08 Adapting to different cultures

09:37 Fostering safety in IMO

11:31 Continuous Improvement

13:57 Delivering integration outcomes

18:16 Dealing with uncertainties during integration planning

20:52 Threshold for mistakes during integration

24:56 Using reflections to run integration

28:57 Deal sizes affecting preparations

31:51 Upskilling scenario planning

32:53 Craziest thing in M&A

Jeff Wald, Co-founder of Bento Engine

This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.

To join our growing online community of M&A practitioners, visit https://www.mascience.com/academy. Don't forget to use code "podcast" at checkout.

Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net

FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com

00:00 Intro

03:44 Best practices during exits

04:41 Thinking about an exit

09:54 Engaging with investors

14:13 The path to being acquired

18:24 Tips for Outreach

19:49 First conversation

25:11 Key people when executing deals

29:00 Negotiating Law firm prices

30:16 Negotiating LOI

34:37 Confirmatory due diligence

37:06 Communicating with employees

39:13 Announce day

44:55 Integration

47:46 Craziest thing in M&A

Brent Campbell, Vice President of Corporate Development and Strategy at Alight Solutions (NYSE: ALIT)

This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.

To join our growing online community of M&A practitioners, visit https://www.mascience.com/academy. Don't forget to use the code "podcast" at checkout.

Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net.

FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com

00:00 Intro

05:46 Importance of Integration

07:38 Gaining integration perspective

10:12 Negative consequences of neglecting integration

12:53 How corporate development can focus on integration

15:38 Challenges in integration

18:22 Challenges in aligning stakeholders

21:04 HSR restrictions

22:27 Integration structure

24:19 Building the integration muscle

32:06 Business sponsor

34:02 How to measure integration success

37:13 Craziest thing in M&A

Klint Kendrick, HR and M&A Leader | Keynote Speaker | Author of the HR Practitioners Guides to Mergers & Acquisitions

This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.

To join our growing online community of M&A practitioners, visit https://www.mascience.com/academy. Don't forget to use code "podcast" at checkout.

Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net.

FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com.

00:00 Intro

05:30 The role of HR in M&A

09:55 Importance of identifying a potential culture clash

12:40 Cultural due diligence

17:27 Pre-LOI cultural diligence

22:09 Finding culture fit

24:48 Five Areas of culture clash

49:39 Deal-specific considerations

59:48 Taking findings that impact the deal terms

1:02:55 Assessing the level of cultural diligence

1:05:40 Transformative deals

1:09:44 The secret sauce to overcoming culture clash

1:12:44 Craziest thing in M&A

PJ Patel, Co-CEO & Senior Managing Director at Valuation Research Corporation (VRC)

This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.

To join our growing online community of M&A practitioners, visit https://www.mascience.com/academy. Don't forget to use code "podcast" at checkout.

Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net

FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com

00:00 Intro

08:37 Market Trends

11:15 Maximizing your company's valuation

12:24 Growth vs Cash flow

13:35 The effect of Storytelling on valuations

14:27 Investor's Influence on Valuation

17:14 Things to avoid as an operator

19:14 Common Mistakes in Valuation

20:53 Impairment

23:42 Implications of impairment

25:49 Purchase price allocation

29:05 Earnout structures

32:34 Length of earnouts

32:51 Computing for Earnouts

38:33 Negotiating Earnouts

41:06 Craziest thing in M&A

Sam Youssef, Founder and CEO at Valsoft Corporation

This episode is sponsored by the M&A Science Academy, DealRoom, and FirmRoom.

To join our growing online community of M&A practitioners, visit https://www.mascience.com/academy. Don't forget to use code "podcast" at checkout.

Ready to take your M&A to the next level with software made to manage each stage of the deal process? See how DealRoom can facilitate your next deal at https://www.dealroom.net

FirmRoom provides 80% cost savings over VDRs that bill by page and delivers a far better user experience to boot. Sign up in under 2 minutes by going to https://www.firmroom.com

00:00 Intro

05:44 Looking at business through a different lens

09:19 Distinguishing good acquirers

11:17 Identifying the right segment and deal size

15:07 Platform play acquisition

19:57 Approaching target companies

23:16 Financial structure

26:09 Challenges in building an M&A muscle

29:42 Driving value from synergies

30:56 Getting the right people

32:49 Sharing learnings

38:39 Craziest thing in M&A