In my last post I explained why following a process is critical to M&A success. If you haven’t had a chance to read it yet, please check it out. This post will further detail our systematic acquisition process, the Roadmap to AcquisitionsSM developed from first-hand experience working with strategic buyers. There are three main phases: […]

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I’m often asked, “What is the key to a successful acquisition?” I have one simple answer: Have a process. You can compare the mergers and acquisitions (M&A) process to the hiring process. Before we even begin interviewing candidates, we develop a job description, whom the employee will report to, when they will start, performance metrics, […]

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This post is part of a series on common misconceptions about acquisitions I’ve encountered over the years as an advisor. Read parts one and two. Misconception #3: Only the CEO and CFO Should Be Involved Because of the confidential nature of acquisitions, naturally most company owners do not disclose their acquisition plans to the entire […]

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This post is part of a series on common misconceptions about acquisitions I’ve encountered over the years as an advisor. To read the first post, please click here. Misconception #2: You Can Execute an Acquisition “On the Side” Many underestimate the level of effort required to complete a transaction. An acquisition is a significant undertaking […]

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Throughout my over 25 years’ experience helping companies grow through strategic mergers and acquisitions, I have seen many different types of transactions and while each deal is unique, there are a few common themes that run through them all. In this series I will be answering some typical questions and clarifying a few common misconceptions […]

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Hello and Happy New Year! Welcome to the first post in 2019. I always love the new year because it’s a great time to take a step back, reflect and refocus. Far too often business leaders get caught up in the day-to-day of running a company, putting out fires, or jumping to the next big […]

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While 2018 has been the highest year on record for mergers and acquisitions, dealmaking is slowing down. Geopolotical risk, trade issues, and stock market volatility all play a role in CEO confidence, one of the primary drivers of activity. Coming off three years of strong activity and favorable economic conditions the tide may be shifting. […]

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How can you take your CUSO’s growth to the next level? Proactively consider strategic M&A, joint ventures, investments, and partnerships. Last week Capstone Managing Director John Dearing escaped the wintry weather in Washington, DC to speak on this topic at the Annual CUSO Conference hosted by CU Conferences on December 12 in St. Petersburg, Florida. […]

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M&A is not always about getting bigger. Often, it’s about recalibrating a business to focus on core competencies and long-term growth. On November 27, United Technologies announced it would split into three companies by 2020. United Technologies will focus on aerospace, Otis on elevators, and Carrier on air-conditioning and HVAC. United Technologies Chairman and CEO Gregory […]

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Capstone Strategic announced today that Immanuel, a leader in the field of retirement living in the Midwest has acquired senior living community The Shores at Pleasant Hill. With this acquisition, Immanuel gains its first senior living community in Iowa and builds on its mission of serving seniors in the region. Capstone Strategic, Inc. (Capstone) announced today […]

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Past success is no guarantee of future success. Just ask Shakey’s Pizza, Ground Round Grill & Bar or Frisch’s Big Boy. If you’re scratching your head wondering what these companies are, you have proven my point. A recent Wall Street Journal article highlighted the ways these three companies, which were once recognizable anywhere, have shrunk […]

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In my over 20 years of helping companies grow through acquisitions, I can say the secret to a successful deal is having a solid, strategic approach to M&A. This is true for middle market manufacturers, technology startups, family-owned food and beverage companies, and divisions of publicly traded firms. Having a plan is the first step […]

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It’s almost time for Thanksgiving here in the US and for many of us that means traveling to be with our families and friends. If you’re like most folks, there may be a few topics you steer clear of as you gather around the dinner table this Thursday. In the same way, when meeting with […]

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Last week Capstone Managing Director, John Dearing, spoke at the Private Practice Section (PPS) 2018 Conference in Colorado Springs, Colorado on “Strategic Growth: Big Data, Cash Cows, and Mangy Dogs.” John was joined by co-presenters Steve Stalzer and Emily Bagby of 8150 Advisors.  The presentation covered how physical therapy practice owners can grow their organizations long-term by establishing a firm foundation and exploring multiple growth pathways including strategic mergers and acquisitions. Below are three […]

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Historically elections have been a source of uncertainty for the business community which can slow mergers and acquisitions activity. Now that the midterm elections have passed, what’s next for M&A activity? 2018 has been one of the most active years for dealmaking – with M&A deal value hitting a new high of $3.3 trillion globally. […]

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Many executives don’t take enough time to think about the “why” of acquisition. They focus on conducting research, identifying targets, negotiation with owners and valuing companies and gloss over these grounding questions. But the foundation of every successful acquisition lies in your strategic rationale. Without this foundation, it’s impossible to guide your endeavors. If you embark […]

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Sarah’s company had been speaking to the prospect for months and was almost ready to sign a letter of intent, when all of a sudden, the seller changed his mind and walked away from the deal. Sarah and her team were stunned and left asking, “What happened?” Unfortunately, deals do fall apart for a variety […]

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Growing by acquiring a competitor is a common tactic for companies looking to quickly grab market share through a consolidation. However, exploring an acquisition opportunity with a rival can be awkward as neither party wants to give the other a competitive advantage by sharing company secrets. Typically, a rival, especially in a not-for-sale situation will […]

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Integration proves to be one of the most difficult pieces of the M&A puzzle to get right. Buyers often try integrating the target’s systems into their own, only to realize too late they are destroying the very value they wished to acquire. Large food companies are learning this lesson from past mistakes and adjusting their […]

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Most people know they will need a lawyer to finalize an acquisition, but many assume any lawyer will do. This is not true. While your attorney friend may be a top-notch patent lawyer, chances are he or she will not be equipped to offer specialized guidance in mergers and acquisitions. Think about it this way: […]

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