SUCCESSFUL ACQUISITIONS

M&A Insights from David Braun and Other Experts

Latest Articles

What Is Included in the Purchase Agreement?

What Is Included in the Purchase Agreement?

The purchase agreement is the legal document that officially seals the deal between buyer and seller. While each transaction is unique, most agreements contain the following sections: Sale and Purchase – This section includes the terms of the transaction such as the Buyer and Seller names, type of transaction, Stock, Asset, or Merger, and the […]

Michael Kors Buys Versace - 3 Lessons for Strategic Acquirers

Michael Kors to Buy Versace – 3 Lessons for Acquirers

Michael Kors will purchase Versace for $2.1 billion as part of a plan to build a luxury fashion empire. After the deal closes, Michael Kors will change its name to Capri Holdings and have 18,000 employees worldwide. While you may (or may not) be a fashionista, here are three lessons any strategic acquirer can learn […]

CU Conferences Products and Services Conference 2018

How to Offer the Right Products and Services for Members – Capstone Speaks at CU Conferences

In today’s fast-paced business environment, offering the right products and services to keep up with with member demand and technological changes can be a challenge. To succeed credit unions must first determine what their members want and then determine how to offer the best solution. Capstone Managing Director John Dearing explored these topics with credit union […]

Alibaba acquires 10% stake in Mail.Ru

China’s Alibaba Expands Ecommerce Presence in Russia with Minority Stake in Mail.Ru

Alibaba, China’s internet giant, will purchase a 10% stake of Mail.Ru, one of Russia’s largest internet companies, to expand its ecommerce reach in Russia. As part of the deal, Alibaba, Mail.Ru, telecom company MegaFon, and Russia’s sovereign wealth fund, will form a joint venture called AliExpress Russia. Alibaba will have a 48% stake in the […]

Millennials: A Generation Credit Unions Can’t Afford to Ignore

Millennials: A Generation Credit Unions Can’t Afford to Ignore

Millennials have surpassed baby boomers and now account for roughly 80 million people in the US. More importantly, millennials have massive buying power, spending roughly $600 billion per year, which is projected to reach $1.4 trillion by 2020, and will comprise 75% of the global workforce by 2025. In contrast, the average age of credit […]

How much to pay for an acquisition

How Much Should You Pay for an Acquisition?

How much should a buyer pay for an acquisition? The short answer is, it depends. Because each company’s situation is unique there is no one rule of thumb for naming your price. Valuation is one of the critical components in establishing the financial worth of a company. In mergers and acquisitions one of the most commonly […]

Campbell Soup to Divest Fresh and International Businesses

Campbell Soup to Divest Fresh and International Businesses

Campbell plans to sell its fresh foods and international businesses to refocus on core products in North America. The fresh foods business includes brands such as Bolthouse Farms and Garden Fresh Gourmet, which were acquired in 2012 and 2015, respectively. In a time when many food and beverage companies are seeking to increase their hold […]

Coke buys Costa

A Wake Up Call for Starbucks? Coca-Cola Buys Coffee Chain Costa

In its latest move to diversify beyond soda, Coca-Cola is buying Costa, a UK-based coffee chain for $5.1 billion. The deal will give Coke access to the coffee market in Europe, the Middle East and Asia through Costa’s 4,000 stores. Coke plans to use its distribution network to further Costa’s expansion and challenge rivals like […]

Middle Market Valuations

Middle Market Valuations Remain High – What It Means for Buyers

Middle market valuations have remained high throughout 2018. For deals between $10-$250 million, the latest report from GF Data notes TEV/adjusted EBITDA multiples averaged 7.4x during Q2 2018 consistent with valuation multiples from Q2 2017. As noted in our earlier analysis, deals in general are trending upward, including transactions in the middle market. Strategic acquirers […]

3 Ways to Successfully Integrate Different Workforces

3 Ways to Successfully Integrate Different Workforces

One of the most common questions we receive is how to integrate two vastly different company cultures. There are many ways company cultures can vary. Often, we see a bigger company and a much smaller company, an entrepreneurial company and a process-driven company, or a tech-heavy company and one that is not. Sometimes cultures are […]

Capstone's John Dearing on the Physical Therapy Owners Club Podcast

Capstone’s John Dearing Talks Mergers & Acquisitions on the Physical Therapy Owners Club Podcast

Do you have a plan for the future?  Whether you are looking to grow your business or cash out, having a strategic plan is key to success. As mergers and acquisitions activity becomes more and more heated in the physical therapy space, owners thinking of selling (or buying) must evaluate various factors and begin developing […]

5 Tips for Creating an Integration Plan

5 Tips for Creating an Integration Plan

Bringing two companies together through an acquisition is a massive undertaking that requires a significant amount of research and planning and dedicated resources to make it happen. It is the culmination of months (or perhaps years) of dedication and hard work. Unfortunately, far too often, companies struggle with integration and poor integration can detract or […]

Credit Unions Face New Competition from Private Equity

Credit Unions, Banks Face New Competition from Private Equity

Private equity is creeping into the role typically taken on by traditional financial institutions like credit unions and banks: business lending. The Wall Street Journal estimates PE firms loans to midsized business jumped from $300 billion in 2012 to over $500 billion in 2017 and this trend is expected to continue. Private equity firms, like […]

What Do Mega Deals Mean for the Middle Market

What Do Mega Deals Mean for the Middle Market?

It’s been a hot year for mergers and acquisitions with a record $2.5 trillion in deal value announced in the first six months. At least 36 deals over $10 billion in value and 81 deals valued over $5 billion were announced in the first half of 2018. Mega deals are on the rise and driving […]

Beginning Integration Planning After the Deal Closes: A Mistake You Must Avoid

Beginning Integration Planning After the Deal Closes: A Mistake You Must Avoid

One of the biggest mistakes a leader can make is to begin thinking about integration after a deal closes. By that time, it is already too late, and you will be left scrambling to piece together a haphazard plan. After the transaction closes employees from both buyer and seller will be working side-by-side and systems […]

Intel Acquires eASIC

Intel Acquires eASIC to Expand Beyond Declining CPU Chip Market

Intel has acquired eASIC, a small company specializing in customizable chips in order to diversify beyond CPU chips that are used primarily in personal computers. As consumers move more and more to using mobile phones over personal computers, demand for Intel’s base product, CPU chips, is declining. eASIC’s 120 employees will join Intel’s programmable solutions group, […]

Capstone Presents at the Annual Strategic Lending Conference

Capstone Managing Director John Dearing spoke at CU Conference’s Annual Strategic Lending Conference held in Lake Tahoe on July 26-29, 2018. John presented two exciting sessions: How to Make Educated Decisions to Solve Your Lending Challenges and Focus First: A Proven Process for Evaluating and Prioritizing Options. In the first session, leaders learned how to overcome challenges […]

M&A Update: 1H 2018

Global M&A value reached $2.5  trillion in the first half of 2018, an increase of 61% while the number of deals decreased by 10% when compared to the same period in 2017. This is the strongest first half since records began in 1980. Deals are getting bigger with 81 mega deals valued over $5 billion accounting […]

The Secret to Finding the Right Acquisition Targets

The Secret to Finding the Right Acquisition Targets

“We would like to do an acquisition, but there are just no good companies to buy.” I’ve heard this sentiment repeatedly throughout the years from both owners of small, family businesses and executives of Fortune 500 firms alike. Identifying the right company to acquire is key to a successful transaction and the process takes significant […]

How to Bring the Right Team to the Negotiation Table

How to Bring the Right Team to the Negotiation Table

When negotiating for an acquisition, we always recommend you, as the buyer, try to match the seller’s negotiation team. Many owners are selling their company for the first time and in most cases their company will be smaller than yours. Arriving to the negotiation table with a swarm of lawyers can be overwhelming and may […]