M&A Science

Partnering Before Purchasing: How Booz Allen Wins Proprietary Deals Early


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Chrissy Cox, VP & Head of Corporate Development, Booz Allen Hamilton

​​Booz Allen Hamilton didn't build one of the most active acquisition programs in federal tech by waiting for banker inbounds. They built it by showing up years before anyone else.

Chrissy Cox has built Booz Allen's corporate development function from scratch and done it twice. Her team was named Deal Team of the Year by the Association for Corporate Growth, and under her leadership, roughly 80% of their acquisitions come from companies they already have a relationship with. That's not luck, it's a system.

In this episode, she breaks down exactly how that system works — from pipeline development to cultural diligence to integration ownership — and what most corp dev teams get wrong before they ever get to LOI.

What You'll Learn in This Episode
  • How to build a proprietary pipeline that makes you the preferred buyer before a process starts
  • The specific cultural fit questions Chrissy asks — and the one answer that ended a deal on the spot
  • Why she tells founder-led sellers to hire their own banker, even on proprietary deals
  • How to navigate a carve-out when scope is impossible to fully define upfront
  • When spinning out a business beats building it internally
  • The three mistakes that derail most corp dev functions before they find their footing

This episode is sponsored by M&A Science Intelligence Hub

If you're trying to move from cold outreach to genuine relationship-building with targets, the Intelligence Hub has the Partner-First Acquisition Evaluation Playbook — a practitioner-built framework for structuring pre-acquisition partnerships, evaluating targets through the lens of existing relationships, and moving from partner to acquirer with conviction. Become an M&A Scientist at www.mascience.com/membership

_____________________

This episode is also sponsored by DealRoom

The best M&A teams close deals faster...not because they work harder, but because they have better systems. DealRoom helps you manage your entire deal lifecycle from target identification through close. No more hunting for documents or wondering what's blocking progress.

Request a Demo today: https://hubs.ly/Q03ZMvQX0

____________________

Episode Chapters

[00:00:00] Intro

[00:04:20] Chrissy Cox's path into M&A

[00:05:04] Building Booz Allen's corp dev function

[00:10:32] How Booz Allen builds a proprietary deal pipeline

[00:15:08] The partner-first approach to acquisitions

[00:20:31] When founders should consider selling

[00:23:49] Why culture can kill a great deal

[00:29:40] Carve-out lessons from the PAR Government deal

[00:33:24] Why founders should hire bankers

[00:43:43] Integration: protect the secret sauce

[00:48:01] The biggest mistakes in corporate development

[00:49:33] The craziest thing about M&A

...more
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M&A ScienceBy Kison Patel

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