Due diligence for assets that are changing underneath the deal
Why commercial, operational and technology diligence must increasingly test future scenarios rather than validate historical performance.
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M&A strategy
Shape M&A strategy from portfolio rationale and target priorities through diligence, value creation and integration.
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Articles
M&A strategy when the obvious targets are gone
How companies can build a stronger acquisition radar by connecting portfolio logic, target intelligence and strategic fit before competition intensifies.
Read articleFocus
Target screening should begin with acquisition criteria, not company databases
A useful radar translates strategic priorities into observable characteristics that distinguish relevant targets from merely available ones.
Integration strategy defines what must combine, what should not and in what order
The objective is to translate deal logic into choices about operating models, systems, people and governance after close.
Strategic challenges
What must be disentangled before the business can stand on its own?
The challenge is separating shared dependencies without disrupting operations or creating an unsustainable standalone cost structure.
What changes when the target sits in another jurisdiction?
The challenge is understanding how regulatory, political and operating differences affect deal structure, execution and integration.
POV
Historical growth is evidence, not proof of a durable business model
The relevant question is whether the economic mechanisms behind performance remain credible after the deal closes.
A forecast is not commercially credible because the spreadsheet balances
The revenue case should be supported by observable customer and market behavior, not by internal consistency alone.
Strategic impact
A clear synergy model links deal value with measurable operating actions
Explicit baselines, owners and dependencies make it easier to track whether integration is producing the economics assumed at signing.
A rigorous market view clarifies the durability of the target's economics
Testing demand, competition and value drivers helps buyers understand what performance is structural and what may unwind.
What we observe
Deal teams often catalogue risks without identifying how the transaction actually fails
Long risk registers create limited insight when the few assumptions capable of destroying value are not isolated and tested.
M&A pipelines often become target lists disconnected from portfolio choices
Deal activity can build momentum around available assets even when the strategic reason to own them remains weak or outdated.