M&A Outlook 2024
2023 saw a decline in the overall headline deal value both globally and locally, no doubt driven by the rising interest rate environment and concern about an economic slow-down.
Author: Michael McGrath
Charlie Munger-A Powerful Legacy
Charlie Munger, who passed away on 30th November, was one of the most influential business leaders and investors of the last 60 years. The businessman, and philanthropist along with his Partner Warren Buffet epitomised a no-nonsense rational approach to life and business.
What to do when you need a change or you’re just running out of steam?
I recently spoke to Mick Spencer from Gravity Seltzer. During our conversation Mick was very honest about failure and spoke about how he had been on a journey and had eventually figured out what he was best at and what he needed others to do who were better than him at certain things.
Ethical Business: Alive or Dead
A glance at last Thursday's front page of the AFR and you might be forgiven for thinking ethical business is dead. The calls for Richard Goyder to resign amid claims of unethical customer treatment with the “Ghost Flights” scandal and the illegal sacking of 1,700 workers at Qantas. The leaking of confidential information from treasury to its clients by PwC and we haven’t even turned a page yet!
Sabervox acquired by Atturra Limited
Acquired in September 2023: Sabervox provide a comprehensive range of intelligent, reliable, and flexible cloud solutions and managed IT services for Enterprise, SME, and Service Providers. Our client had plans outside of the business and whilst in no major rush, was motivated to find a buyer for the business.
WFH and the paradigm shift
Long hours and a heavy workload seem to be the norm in professional service firms, that may not change anytime soon, but what does appear to be changing is that increased flexibility toward staff is now becoming the norm.
M&A Market Snapshot: First half of 2023
The global M&A Market in the first half of 2023 saw deal values drift lower especially in Q2, while the number of announced completed deals saw near record highs. So, deal volume was up whilst overall transaction values are down.
How to Sell a Business Lesson #9: What do I need to do to be ready?
The terms “Exit Ready” and “Investor Ready” have become very popular when discussing what might need to happen in the period running up to when an owner might wish to merge or exit their business.
Wageloch acquired by Valsoft Corporation Inc
Acquired in June 2023: The motivation of the vendors was to sell the company to someone who would carry on their legacy of having a meaningful connection with their customers as well as someone that had an existing presence in the space.
Some Promising Growth Sectors
With all the talk of interest rates and a possible slow-down, we thought it was about time we looked at where the potential for exciting growth is happening. If you regularly read our content, you will know how we love research and the insights it can unlock. We also think it’s the basis for sound decision-making and frequently utilise it in our strategy work with clients.
How to Sell a Business: Lesson #8: What will it cost me to sell my business? Who do I really need to help me?
Selling your business is an important and significant life event. Few people get to build an enterprise that somebody else wishes to own and will pay a significant sum for.. Often, it’s the most valuable material asset you own and is the result of a lifetime’s work. When it comes time to sell or merge, it makes sense to do it right.
Exclusivity period-why bother?
An exclusivity period is normally agreed upon between the vendor and the buyer once the headline indicative terms are agreed. These terms are typically set subject to due diligence and contract. Whilst these terms are rarely binding (although there are exceptions), they do set a detailed framework for what is going to happen as parties move toward a completed deal.
What are tyre kickers and how you can avoid them
I was struck by the recent article in the Australian Financial Review by Yolanda Redrup, who quoted a frustrated CEO of Infomedia saying he had “closed the door on tyre kickers”.
I have witnessed this frustration many times, where vendors become sick of so-called buyers who turn out to be not serious acquirers.
How to Sell a Business Lesson #7: How to fairly structure a deal
Lesson #7 in our series, How to Sell a Business, covers the critical matter of deal structure. Once a willing buyer and a winning seller agree that they wish to transact, how should the transaction be constructed?
Gen Z: How will they change your business?
In just a couple of years, Generation Z will make up around a quarter of the workforce. This will have a significant impact on our working lives, and business owners will need to enter their world to understand what they want and how they communicate.