Read more
Informationen zum Autor MARK A. FILIPPELL is a co-founder and Managing Director at Western Reserve Partners, an M&A boutique. He has nearly thirty years of investment banking experience and has personally completed over 125 merger and acquisition transactions. Prior to co-founding Western Reserve Partners, he was the manager of the Mergers & Acquisitions Department at KeyBanc Capital Markets and McDonald Investments. His clients have included Eaton, Novar Electronics, Claymont Steel Holdings, Liqui-Box, General Electric, Computational Systems, Excel Mining Systems, and MascoTech. Klappentext Mergers and Acquisitions Playbook introduces a street-smart approach to the mergers and acquisitions (M&A) process. It's straightforward, it's savvy, and it's designed to prepare you to understand and manage the sale of your business with an investment banker's know-how. Drawing from his nearly three decades of experience, during which he completed over 125 merger and acquisition transactions, author and successful investment banker Mark Filippell uses his wealth of real-world experience and true case studies to reveal the nuts and bolts of valuing your company, marketing it, negotiating the deal points, and closing the transaction-all with an insider's perspective. Even if you don't plan on selling your business yourself, you'll need to understand all the players-and "plays"-involved in this transaction that will be the most important of your career as a business owner. Mergers and Acquisitions Playbook helps you gain invaluable insight, with coverage on: Preparing to sell your business Whether or not you should hire an intermediary Finding out what your business is worth The difference between "value" and "currency" How to create competition (or the impression of it) Identifying and cultivating the right buyers Approaching prospective buyers Negotiating strategies Moving from letter of intent to closing Working with lawyers Whether you're in the game or just watching, you're going to need to know what's happening-especially if your business is one of the major players. Anecdotal and packed with practical advice on the mergers and acquisitions process from start to finish, Mergers and Acquisitions Playbook prepares you to enter the M&A process like an expert-no matter what your playing field looks like. Zusammenfassung The ultimate "tricks of the trade" guide to mergers and acquisitions Mergers and Acquisitions Playbook provides the practical tricks of the trade on how to get maximum value for a middle-market business. Inhaltsverzeichnis Preface xiii Acknowledgments xvii Chapter 1 Why People Sell Businesses 1 Honesty Is the Best Policy 2 Most Common Reasons People Sell 4 Retirement 5 Differences among Co-Owners 5 Illness or Death 6 Change in Strategic Position 7 Financial Sponsor Liquidity Event 8 Financial Pressure 9 Unsolicited Offer 9 Proactively Making the Sale Decision 10 Notes 11 Chapter 2 Should the Seller Hire an Intermediary? 13 What Do Investment Bankers Do, Anyway? 14 Criteria for Selecting an Investment Banker 19 General M&A Experience 19 Specific M&A Experience 19 Marketing Philosophy 20 Contacts 20 Temperament 22 Investment Banker Fees 23 Choosing the Right Investment Banker 29 Notes 32 Chapter 3 What Is the Business Worth? 33 Valuation Methodologies 34 Book Value 34 Multiple of Some Measure of Earning Power or Cash Flow 36 Intangibles Such as Technology or Market Position 38 The Synergy a Seller Could Provide a Buyer 39 Applying Valuation Theory to Real-World Situations 42 Cases Where Dividing the Business Created Value 43 Cases Where a Strategic Buyer Unlocked Value...
