THE TURNKEY M&A SYSTEM FOR GROWING YOUR BUSINESS
The M&A Formula culls the wisdom and experience of the most recognised M&A leaders in the boardroom and lecture hall to give everyone a clear path to repeatable M&A wins. This pioneering, three–step formula to M&A success is already disrupting conventional practices; lighting the way for innovative, data–backed tactics for locking in advantageous deals, and avoiding costly litigation and outright failures. Illuminating case studies and hard–won advice from high–profile authorities clearly demonstrate how global corporates and small– and medium–sized enterprises (SMEs) can fully benefit from this proven approach.
Everything you need to confidently call the shots in your next M&A deal is inside, including:
- The secret to pinning down how a business should benefit from an M&A deal by specifically identifying the business model drivers.
- Concrete strategies for nurturing the right corporate culture of strong leadership and communication so teams can thrive through M&A deals.
- All the tools and insight to take control of the entire transaction without having to blindly rely on external M&A advisors, while still leveraging their expertise.
Erase "failure" and "uncertainty" from your M&A vocabulary with The M&A Formula.
"A down–to–earth description of how to run efficient and successful M&A and how to avoid failures."
Johan Molin, CEO, AssaAbloy
About the Authors xiii
Introduction:The Opportunity, the Pain, and the Promise 1
Why Do M&A?
WhatWill You Learn From This Book?
Who IsThis Book For?
WhyWas This BookWritten?
HowWas This BookWritten?
WhoWrote This Book?
The Professors, the Case Insights, and the
Part I THEM&AFORMULA 29
1 What Is theM&A Formula? 31
Before the M&A Formula
Should You Build or Buy?
Understanding Business Model–Driven
Success and Failure in M&A
2 Be BusinessModel Driven (Step 1):What
Is BusinessModel–Driven M&A? 51
Business Model Complementarity and Signals for Success
Three Real Business Models: M&A Drivers and Complementarity Score
What Are the Goldman Gates?
How to Create a Target List Based on the Goldman Gates?
3 Communicative Leadership (Step 2) 69
Lesson #1 in M&A Leadership: Drive Hard with Soft Management Tools
Lesson #2 in M&A Leadership: Create a Strong Foundation for Your People
Lesson #3 in M&A Leadership: Silent People Are NOT Team Players
The M&A Deal Committee
4 Take Ownership (Step 3) 91
The M&A Playbook
Governance in Corporate Processes
CFA: Company–Specific M&A Engagement
Funding and Corporate Finance
5 Accelerating Your M&A Formula: Digitizing M&A 117
Strengthening the Formula
The M&A Dashboard
Digitizing: The Human Side of M&A
Now, Science Meets Business
Part II THEM&AFORMULA APPLIED 131
6 Case Insights (CI) and Research Insights (RI) 133
CI1: DSV: From Ten Trucks to 10bn
CI2: RB: King of OTC Improved Value Proposition and Client Relation as Business
Model Driver in M&A
CI3: Heritage Comes First at LVMH
CI4: The Global Brewer: Driving M&A
Growth One Beer at a Time
CI5: Danaher: The Importance of Teamwork
CI6: FrieslandCampina: A Merger of Equals or an Impossible Utopia?
CI7: ASSA ABLOY: The Highest Total Return to Shareholders in Our Research Period (1st Jan 2007 1st Jan 2017)
7 Next Steps 201
M&A Reputation as a Tool for Success?
Can You Build a Good M&A Reputation
and Attract Sellers?
Things to Avoid Internally Bias
Where to Get External Advice?
FON–A–PAL Building Your Resource Library
What DoWe Mean WhenWe Talk About
Financial Advisors/Investment Banking
What Your Success Looks Like?
Index for Case Insights & Research Insights 227
PETER ZINK SECHER is a founding partner of Fixcorp, a large corporate M&A and treasury service. He created the M&A Corporate Framework Agreement (CFA), which has already disrupted legacy banking models in M&A. He gained his extensive experience in such positions as head of M&A at FrieslandCampina, head of Capital Markets at FIH Bank (Corporate Bank), senior vice president at Danske Bank, and executive director for corporate banking at Saxo Bank.
IAN HORLEY is head of Online Strategy and a Hubspot Gold Partner. He is also a founding board member for British Chamber of Commerce in Denmark, an advisory board member for SourceConnect, and founder, corporate marketing consultant, and digital marketing expert for Juice Tactics.