Permanent Podcast: Real Talk About Private Equity and Buying, Selling, and Operating Small Businesses

Building Your Diligence Team (Do Diligence Confidently Ep. 4)

Sep 14, 2023

In this episode, the hosts discuss the importance of assembling a diligence team for investments and M&A deals. They give insights on involving internal team members and hiring external advisors such as lawyers and intermediaries. The podcast also highlights the roles of tax advisors and diligence quarterbacks in selling a business, the significance of an M&A lawyer for emergency acquisitions, and tips for preparing for due diligence and selecting the right advisors.

17:13

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Quick takeaways

Assembling a diligence team involves involving key members from the organization and hiring external advisors to ensure an effective and thorough due diligence process.

Engaging a specialized M&A lawyer early in the process is crucial to anticipate potential issues and expedite the due diligence process while focusing on key matters.

Deep dives

Assembling a Diligence Team

To navigate the diligence process confidently, it is important to assemble a team. This includes involving key members from the organization such as the CFO, controller, and CEO who will be responsible for providing information and responding to diligence requests. Additionally, it is crucial to fill other positions with external advisors such as M&A lawyers and tax advisors. These professionals bring expertise in specific areas related to the deal and ensure that the process is conducted effectively and with the necessary legal and tax considerations.

Introduction

3min

Roles of Tax Advisors and Diligence Quarterbacks in Selling a Business

4min

The Importance of Having an M&A Lawyer for Emergency Acquisitions

2min

Preparing for Due Diligence and Selecting the Right Advisors

6min

The Role of Advisors in the Diligence Process and the Importance of the Individual Seller

3min

Diligence requires a team effort. In Episode 4 of Do Diligence Confidently: Navigating the Due Diligence Process to a Deal, Emily Holdman and Taylor Hall give tips for how to assemble your team internally and how to hire external support from intermediaries and lawyers.

THIS PODCAST IS ACCOMPANIED BY MORE DILIGENCE RESOURCES at:

https://www.permanentequity.com/diligence

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Visit https://www.permanentequity.com/for more

TIMESTAMPS

0:00 Intro & Assembling Your “League of Gentlemen”

1:10 Who In Your Organization Are You Going to Involve?

1:55 Hiring Outside Advisors

6:28 Advice for Hiring a Lawyer

11:43 Advice for Hiring an Advisor or Intermediary

EPISODE CREDITS

Produced by David Cover

Music by Jees Guy

WE STEWARD COMPANIES THAT CARE WHAT HAPPENS NEXT

Visit https://www.permanentequity.com/ for more

Sign up for Unqualified Opinions, a new daily newsletter from our very own Tim Hanson: https://www.permanentequity.com/unqualified-opinions

Check out our other podcast episodes here: https://www.permanentequity.com/audio

LEGAL DISCLAIMER

This podcast is made available solely for educational purposes, and the information presented here does not constitute investment, legal, tax or other professional advice, and should not be construed as an offering of advisory services, or as a solicitation to buy, an offer to sell, or a recommendation of any securities or other financial instruments. The thoughts and opinions expressed by or through this podcast are those of the individual guests and speakers and do not necessarily reflect the views of Permanent Equity. The discussion on this podcast of any entity, product or service does not imply an endorsement thereof, and the guests may have a financial interest, whether through investment or otherwise, in one or more of any such entities, products or services. This podcast is presented by Permanent Equity and may not be copied, reproduced, republished or posted, in any form, without its express written consent.

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