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.
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