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.
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Build, partner or buy is a choice about control, speed and strategic dependence
Different routes create different economics, ownership rights, capability requirements and long-term constraints.
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.
Strategic challenges
Is the buyer ready for the deal it is considering?
The challenge is separating strategic appetite from the practical capacity to fund, integrate and govern an acquisition.
Which targets genuinely fit the acquisition thesis?
The challenge is narrowing a broad universe using criteria tied to strategy, economics, capability and transaction feasibility.
POV
If the acquisition logic cannot be stated simply, the deal may not have one
Complex narratives often hide the absence of a clear reason why ownership should improve enterprise value.
Technical debt becomes deal debt when the buyer inherits it without pricing it
Technology quality should be reflected in valuation and integration assumptions, not discovered as an unavoidable cost after close.
Strategic impact
A clear separation model reduces hidden dependencies before transition begins
Mapping shared services, assets and systems helps define what transfers, what remains and what must be rebuilt.
A disciplined acquisition radar makes target identification more selective
Clear filters help leadership focus on businesses that fit strategic needs before time is spent on detailed evaluation.
What we observe
Target assessments often extrapolate recent growth without testing its underlying cause
Strong historical results can conceal customer concentration, weak differentiation or favorable conditions that may not persist.
Operational diligence often focuses on cost opportunities and misses execution fragility
Apparent efficiency can conceal capacity bottlenecks, key-person dependence, weak controls or deferred investment.