These days many businesses are finding the quickest way to grow is to acquire another company. This brings instant market expansion and ventures in new markets. Acquisitions require careful planning, just as any other major actions in business. At least the following steps should be followed:
1. Develop a set of required criteria for an acquisition’s objectives.
2. Define resources to pay for an acquisition: capital, cash on hand, stock to offer.
3. Decide what information you require from target companies, and do not continue the process with any business that will not divulge reasonably requested data.
4. Build an internal Deal Team that has elements of good communication in the forefront. Make sure the responsibilities of key members are clearly defined with a clear and professional process in place.
5. Make a Post-Merger Plan to implement the details of the merger of the personnel and other resources into your existing company.
6. Use all of this in your establishment of an Acquisition Team. Who will do the main communicating? Who will provide expertise outside the knowledge areas of the main action members? Are outside consultants, such as investment bank advisors needed?
We are a Palm Springs mergers and acquisitions firm that can help your company with all of this and much more. We have the experience and professional expertise in all areas involved in the merger and acquisitions process. It matters not what size of business is in question, we are able to handle any situation you may have.
