This year, Axial Forum published over 250 new articles on M&A, deal sourcing, business strategy, and more. As the New Year draws near, we compiled the most popular articles from each month.
This post covers January – June 2016; we’ll publish the top articles from July – December tomorrow. One trend we noticed in the first half of the year? From insane EBITDA adjustments to failed deals to unsellable businesses to the most frustrating characteristics of investment bankers, our readers love to read about things that aren’t working. (Something to keep in mind for 2017…)
“At least once a week, we find ourselves looking through adjustments made to earnings before interest, taxes, depreciation and amortization (EBITDA) on a business for sale, and saying, ‘What in the world…?’” writes Brent Beshore, Founder and CEO of private equity firm adventur.es.
Some mega-deals serve as inspiration, others as cautionary tales. Consider these four failed mergers as learning examples.
From inadequate financial reporting to regulations to ill-timed exits, here are seven reasons a business might not sell, from Tom Schramski, President and Managing Partner of healthcare specialist investment bank VERTESS.
“I’ve been pretty vocal about the fact that I would never take a sell-side engagement with a microbrewery, because in order to represent them in the best way possible, I’d have to take them to the big guys. And that’s just something I won’t do,” says David Duval, principal at Claiborne Advisors.
“There is nothing more disappointing when selling a business than realizing the gap between what you, as the seller want to put in your pocket and what potential buyers are willing to pay. But in a sale process there are more gaps than you might imagine. Many more,” writes Gary Ampulski, Managing Partner of Midwest Genesis.
Private equity firm adventur.es’ Brent Beshore breaks down four types of investment bankers who “have frustrated us to the point that we don’t want to pursue an opportunity — even a seemingly perfect fit — because the idea of continuing the process with them would require too much effort, patience, or both.” (Also, check out 5 Types of Financial Buyers Intermediaries Dread, a response from investment banker David Walsh of Woodbridge International.)