Advice on Hiring Advisors

How to Choose an M&A Advisor

An M&A Science Podcast

Hosted by Kison Patel

“The last thing you want to do is spend your entire diligence process teaching your banker about your business and your industry and what you’re doing, and how you’re different.”

On this episode

Mark Miller, a former Vice President at the private equity firm Huron Capital, shares his knowledge on selecting the best advisor for your deal.

Miller expresses the importance of advisors with industry expertise, experience and relationships,  He looks for a banking advisor that comes to the table with similar experiences with companies that have similar business models, so that they may successfully position his company in the market place.

In this podcast, Miller answers the question: what should you look for when you pick an advisor for your deal team?

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Show Notes

0:00 – 2:18 Summary of Mark’s background

2:19 – 5:18 Worse thing that could happen during a deal

5:19 – 7:24 Steps to first start planning for an exit

7:25 – 11:14 Setting up strategic initiatives from Day 1

11:15 – 18:49 Selecting advisors for the deal

18:50 – 25:24 Sanity checking valuations

25:25 – 28:02 Where advisors differentiate themselves / customizing their process & outreach

28:03 – 32:45 The important of valuations and certainty to close

32:46 – 35:33 Buyer engagement and deal rooms

35:34 – 37:07 Post-closing transactual obligations

37:08 – 39:43 Biggest challenges of process

39:44 – 42:25 Unburdening management team

42:26 - 46:50 Most important lessons learned

46:51 - 51:43 Tackling deal hiccups, touch decisions, and sell vs. hold scenarios

51:44 – 52:56 Considerations for future process improvements

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