This M&A podcast aims to challenge the status quo of the M&A industry. The host, Kison Patel, is a former M&A buy-side advisor and the CEO and Founder of DealRoom. Kison interviews experts from private equity firms, management teams, corporate development, advisory banks, and more. M&A Science has thousands of listeners per month and has featured guests from notable companies such as Google, Cisco, and Paynet, each giving a unique perspective into the ever-changing world of M&A.
Private Equity Fast Pitch is a podcast produced by Northstar, a company that puts on events for private equity professionals all over the United States. Each week, Jeff Henningsen from Lockton, spends time interviewing individuals from the private equity and investment banking communities. They discuss their own firms, recent activities, target industries, desired acquisition profiles, closing pitches, and more.
This podcast started back in 2013 and is hosted by Devin Mathews and Jim Milbery. Mathews and Milbery are partners at ParkerGale Capital, a middle-market private equity group. The podcast comes out bi-weekly and they discuss how to use technology to improve business operations for companies who bring in less than $100 million in revenue.
Privcap’s podcast features interviews with leading private equity and real estate professionals. The podcast covers a wide range of topics including deal treads, real estate, powerhouses in private equity, and more. It is updated regularly and offered on a wide range of streaming websites.
Private Equity Technology Podcast offers listeners a unique perspective into the role technology plays in private equity investments. This podcast explores the impact technology has on the core of every business, including the inner workings of the technology applications and the people running your potential acquisitions or portfolio companies.
The Private Equity Perspectives Podcast is a forum where private equity dealmakers gather. They discuss the challenges and opportunities in today’s ever changing investment environment. Each episode, members from the BDO team talk with industry leaders about deal activity, portfolio company organization, and fund strategies.
This podcast is hosted by Richard C. Wilson, the author of the best selling book, “The Single Family Office: Creating, Operating, and Managing the Investments of a Single Family Office.” Wilson provides listeners with client case studies, examples, trends, and facts about investments from a global point of view. He also shares what his billion dollar family office clients are currently investing in. There are over 150 episodes and they are available on multiple platforms including Spotify and Apple.
The Future of Finance is produced by Motive Partners, a sector-specialist investment platform. Each week they release an interview about the vast opportunities surrounding financial services. Those interviewed for the podcast live all over the world, giving listeners a truly global perspective.
The name of this podcast says it all. It gives listeners “A 360 degree perspective of everything related to private equity.” There aren’t many episodes, only five, but each one covers a private equity topic in depth. The podcast is hosted by Frazier and Deeter, an accounting and advisory firm in the U.S.
The Unquote Private Equity Podcast is hosted by Unquote, a reliable and trusted news source for information regarding the private equity markets across Europe. This podcast began recently in April 2019, and new episodes are posted bi weekly. In each episode the Unquote team discusses all the trending topics in European private equity and venture capital.
Know of a private podcast we left off the list? Let us know!
There are several symptoms that can lead to the disease of deal fever.
One such symptom of deal fever is getting carried away in the heat of the deal. There is a lot of time and effort spent just exploring a potential deal, let along the negotiations involved. Sometimes people spend so much time and effort on exploring and negotiating the deal that they feel is must get done at all costs, while failing to take a birds-eye view in determining if the deal is really the best thing for the company.
Another symptom indicating the presence of deal fever and one that raises the risk of catching it is when certain executives become more excited about the deal and emotionally involved in the outcome than other members of the group. This can lead to inflating the deal’s potential strengths instead of also focusing on potential pitfalls. In a competitive situation, sometimes certain people want to do the deal much more than others for a variety of reasons.
Many M&A teams also use M&A software to help them source new deals. Just because a software is telling you a deal is a good idea, that doesn't mean you don't have to do the proper research.
How to Prevent Deal Fever
Great news! There are a number of proven ways to prevent deal fever and keep your company disease-free. Here are some tips to stay deal fever-free:
Perform More Research Than You Need To. You can never perform too much research on a potential deal, so we recommend doing even more than you think you need to.
Seek The Opinion Of Experienced Deal Makers. Get another opinion from someone you trust that has embarked on similar deals. What do they think of the deal? Seeking another opinion that can evaluate your potential deal without the emotional involvement will help you ensure the deal is truly one you want to pursue!
Know All Of The Potential Risks. Thoroughly evaluating the deal’s potential risks, and involving your team in the process, will help you avoid deal fever. Don’t lose sight of your basic financial calculations! Involving others in the process is essential, as you want to make sure nothing is overlooked and you can remain deal fever-free.
Resist deal fever by not overlooking the negatives that you may not want to see! If you have been the primary person working on the deal, make sure you involve others so they can help assure that you are seeing everything clearly. There should never be one person working on deal flow tracking. Likewise, don’t let personal pressures to get the deal done get in the way of looking at everything objectively. Sometimes, not doing the deal may be in the best interests of the company.
How to Tell When You Have Deal Fever
Do you have a high degree of risk tolerance? Do you have a burning desire to get the deal done, yet something just doesn’t feel right about it but you’re not sure what? If so, you may be catching a slight bout of deal fever.
Having the above feelings isn’t just exclusive to individuals, either. Many companies surveyed believe that their M&A function of getting the deal done is more important than what follows. If you’re in the M&A department, and you’re not performing M&A’s, something must be wrong, right? No, not necessarily. Inherently good deals are difficult to come by and you may have to pass on many of them before you find the right fit.
If deals contain personal agendas or emotions, or your company provides more incentives and encouragement to do the deals rather than not, than these are signs that your company may have deal fever. Recognize the signs so you can avoid deal fever and ensure you are making deals that have the highest chances of future success for your company.
Treatment, Care & Medications For Deal Fever
Below are some treatment, care and medications for this contagious disease known as deal fever:
Treatment Option 1. Ensure your deal team is incentivized for long term success, and not just for completion of the deal.
Treatment Option 2. Have objective, experienced observers review the deal specs, including all of the potential negatives of doing the deal. This way you can help ensure you’re not overlooking potential pitfalls.
Treatment Option 3. Let post-close executives have direct input into whether or not the deal goes through
Medications For Deal Fever. Create clear action steps that are to be taken when considering all potential deals. Create a set of red flags, or things to be looked at more closely when they occur. Finally, a healthy dose of objective observation by people not directly involved in the process will both help prevent and cure this debilitating disease!
A very important aspect in our guide on deal fever is to cultivate a business culture in which you have both risk tolerant and risk averse individuals on the team, with both groups having equal say. When both groups sign off on a potential deal, and it is also reviewed by an objective observer, you know you might have a winner!
Don’t Underestimate the Power of Diet, Exercise & Rest
One of the most important ways to prevent deal fever that is often overlooked is to ensure you have a good diet, and are getting enough exercise and rest. Doing so will keep your mind and body in tip top shape, and will help alleviate some of the pressures incurred from pursuing and evaluating a potential deal.
M&A deals are complex transactions that often go at a very fast pace and can also be emotionally charged, so ensuring you’re eating well, exercising and getting enough rest can help counteract the pressures of working on the deal.
Many M&A management can sometimes lack a truly accountable leader to oversee the process. Having a great leader, coupled with the goal of long term success instead of short term, are the highlights of the best things to do to not get infected with this crippling disease. Set the criteria for success and focus on that more than focusing on doing the deal just to get it over with. Make sure your team is incentivized on long term goals and are not acting out of the fear of “what if we don’t get this deal done.”
If you and your team are currently managing M&A transactions, check out DealRoom's M&A virtual data room and project management software. DealRoom's platform also includes pipeline and integration management, which helps teams organize deals for their entire lifecycle.