Health Tech Sector
Discover the power of our superior services
Wall Street Experience
Our CEO worked at Morgan Stanley, a top 3 M&A firm worldwide.
Sector Specific Expertise
Our Co-Founders have operational experience in AI & Data, Technology, SaaS and Consumer.
Early Preparation
We focus on early preparation because it is the key driver of valuation. Very few firms invest the time it takes to properly prepare clients for exit.
8-Step M&A Process
We have unrivaled relationships with acquirors. For example, every January we host The Acquiror Summit in NYC.
Maximum Acquiror Reach
We have unrivaled relationships with acquirors. For example, every January we host The Acquiror Summit in NYC.
Find out more our service
Find out how our services have helped companies like yours unlock maximum exit valuation.
Our market leading 8-step exit process
01
Early Preparation
This stage has the biggest impact on valuation. Clients utilize the 3 best tactics in M&A: i) the best approach to deals is flirt > date > marry; ii) the best laid plans don't survive contact with the enemy - so we get early feedback from the enemy; and iii) the best businesses get bought not sold - we encourage bids to take deals off the market.
02
Final Preparation
When you are ready to formally begin the exit process we will prepare a deal teaser, virtual dataroom and a 50+ page confidential information memorandum (CIM).
03
Marketing
Once all deal materials are finalized, we will being marketing to all relevant targets. We pride ourselves on having strong relationships with acquirors and can market your deal to senior decision makers.
04
LOIs
As targets start issuing LOIs, we help you compare terms on a like-for-like basis. We help you negotiate and select the most preferential terms for your business.
05
Due Diligence
We will partner with you throughout the entire due diligence process ensuring you are prepared to accommodate any additional materials and information.
06
Documentation
Together with your legal advisors we will help you with the signing of all key documentation.
07
Closing
Once documentation has been signed we ensure payments are processed in an agreed timely fashion.
08
Post-Completion
Post completion we remain in communication to ensure any deferred or earnout component are being acted on as agreed.
What Is Involved In Early Preparation?
The first step is for our team to do a 4 week deep dive into your business.
This includes:
- Financials: analysis of monthly P&L, 3 year historical financial statements and forecasts.
- Platforms: review of data from your sales channels e.g. Shopify, Amazon Seller Central, wholesale, retail etc.
- Questionnaire: review of your responses to our granular diligence questionnaire. It has been developed over 3 years and contains all the questions acquirors will ultimately ask.
- Valuations: discussion current and potential valuation range.
An initial teaser is key to succinctly articulate the acquisition opportunity to potential acquirers.
Components:
- Acquisition highlights.
- Category growth.
- Company snapshot.
- Brand overview.
- Supply chain.
- Products.
- Channels to market.
- Marketing.
- Growth opportunities.
- High-level financials.
- Exit rationale.
“No battleplan survives contact with the enemy”.
It is important to embrace early feedback from a small number of acquirors (the “enemy”).
There are 4 different types of institutional acquirors we can approach depending on the business:
- Strategics.
- Private equity firms (either as a platform deal or a bolt-on to an existing portfolio company).
- Family offices.
- Aggregators.
Based on the work of the prior 3 stages we will recommend action items.
Short-term Examples:
- Hire a NED who has sold a similar business.
- Audit of the manufacturer for the VDR.
- Obtain a QOE report.
Medium-term Examples:
- Invest time to better articulate the growth plan e.g. NPD.
- Consider inorganic growth i.e. acquisitions.
- Improve the forecasting model.
Long-term Examples
- Increase recurring revenue – this has a significant impact on valuation.
- Upgrade auditor and produce annual audit.
What are the benefits of early preparation
- Incorporating feedback from acquirors means the ‘pitch’ is stronger.
- ”The best businesses get bought, not sold.” During stages 1 and 2 we welcome bids to take your firm off the market.
- Additional time to identify every firm to approach and thereby make the auction as competitive as possible.
- The flirt > date > marry approach to dealmaking yields the best results. For example, it enables the slower moving acquirors (e.g. strategics) time to get your business on their radar.