M&A Science

Andrew Bab, Partner & Co-Chair of the Healthcare Group at Debevoise & Plimpton LLP, shares his expertise in healthcare M&A. He discusses the rapidly evolving regulatory landscape impacting private equity, highlighting state-level regulations and the implications of reverse CFIUS. Bab also delves into the complexities of Contingent Value Rights in pharma deals and how new HSR rules are reshaping auction timelines. Political scrutiny and the need for buyer-led strategies in healthcare M&A are key themes, offering vital insights for industry professionals.

Hugh MacArthur, Chairman of Global Private Equity Practice at Bain & Company, shares insights from his 30 years in private equity. He discusses the shift from traditional financing to tech-driven strategies in deal-making. Hugh highlights the evolving role of AI and data analytics in enhancing decision-making. The conversation also covers adapting to rising interest rates and the importance of sourcing and value creation. He emphasizes demographic trends that shape investment opportunities and the need for transparency between general and limited partners.

Ben Beller, a Partner at Sullivan & Cromwell LLP, specializes in bankruptcy and restructuring, with experience in high-profile cases like FTX and Silicon Valley Bank. In this discussion, he dives into the differences between Chapter 7 and Chapter 11 bankruptcies, highlighting strategies for navigating these processes. He emphasizes the importance of liability management transactions and offers insights on acquiring distressed assets. Ben also sheds light on the emotional dynamics in bankruptcy court, making it essential for M&A professionals to stay vigilant.

Ashish Achlerkar, Founder and Chairman of NearU, discusses his journey from investment banking to building a thriving business in the skilled trades. He reveals how he leverages M&A to fuel entrepreneurial growth and addresses the unique opportunities in this fragmented industry. Ashish shares insights on crafting a strong investment thesis, the importance of cultural alignment with private equity partners, and strategies for enhancing customer experience through technology. His journey is a masterclass in turning challenges into opportunities.

Michael Hoy, Executive Vice Chairman of Great Day Improvements, shares his expertise on people-centric M&A strategies that focus on culture over cost-cutting. He discusses the vital role of trust and transparency in smooth integrations, and how aligning financials early can streamline transitions. Michael also emphasizes building strong relationships and a referral-based growth model, showcasing how a people-first philosophy can not only enhance company culture but also drive sustainable growth in the competitive realm of mergers and acquisitions.

Gwen Pope, Senior Managing Partner at Tiger Team M&A, specializes in serial acquisitions, while Tracie Smith leads GTM Solutions with deep expertise in M&A integration. They explore the intricacies of serial acquisitions, emphasizing the importance of a repeatable M&A framework and a clear 'North Star' strategy. Key highlights include the role of executive leadership alignment in deal execution, common integration pitfalls, and effective communication strategies to navigate post-acquisition challenges. Their insights are invaluable for optimizing M&A playbooks.

Mimi Wu, a Partner at Sullivan & Cromwell, specializes in distressed M&A, having tackled notable restructurings like FTX and Silicon Valley Bank. She breaks down the intricacies of Chapter 11 bankruptcy and explains the benefits of 363 sales, where buyers can secure assets without inherited liabilities. Mimi also shares strategies for engaging creditors during tough negotiations and highlights how investors can spot lucrative distressed deal opportunities before they go to auction. This conversation is filled with invaluable insights for anyone navigating financial turmoil in business.

Kaj Rozga, Senior Antitrust Counsel at ABB Antitrust scrutiny in M&A is at an all-time high, and companies must be prepared to navigate evolving regulatory challenges. Kaj Rozga, Senior Antitrust Counsel at ABB, brings a unique perspective, having worked both inside the FTC and in private practice, advising on antitrust strategy, compliance, and M&A transactions. In this episode of the M&A Science Podcast, Kaj breaks down the latest antitrust trends, regulatory risks, and strategic approaches to managing antitrust concerns in M&A. He shares how dealmakers can proactively assess risk, structure deals to mitigate scrutiny, and use antitrust as a negotiation tool. Thing’s you will learn: Antitrust in M&A – What business leaders need to know How regulators evaluate mergers – Key triggers for scrutiny Industry rollups & market consolidation – Why private equity is under the microscope  Navigating second requests & regulatory delays – How to prepare for costly reviews What not to do between sign and close _________________________________ This episode is  sponsored by Buyer-Led M&A™. Take control of your deals._________________________________ Episode Timestamps: 00:02:30 - Guest Introduction: Kaj Rozga’s Background & ABB Overview 00:07:00 - Antitrust Trends: Government Levers & Key Enforcement Themes 00:13:00 - Substantive Antitrust Challenges: Vertical Competition, Industry Roll-ups & Expanded Deal Horizon 00:21:00 - Government Positioning & Impact on Deals 00:30:00 - Mandatory Filings & Second Requests 00:38:00 - Best Practices for Document Control & Risk Mitigation in M&A 00:48:00 - Gun-Jumping & Pre-Closing Coordination: Managing Compliance Risks 00:54:00 - Structuring Deals to Avoid Antitrust Concerns 01:02:00 - Using Antitrust Considerations in Negotiation

John Cerasuolo, CEO of Leap Partners Creating a successful roll-up strategy requires a unique combination of industry expertise, strategic planning, and leadership. John Cerasuolo, CEO of Leap Partners, has mastered the art of acquiring and integrating businesses in the home services industry, including HVAC, plumbing, and electrical services. With 19 acquisitions in less than three years, Leap Partners is rapidly expanding across the Southeast with a people-first approach. In this episode of the M&A Science Podcast, John shares how to build a roll-up machine from scratch. He discusses selecting the right industry, pitching to investors, sourcing and executing deals, and the critical role of leadership and culture in scaling a business. John also explains how to foster strong relationships with business owners and private equity partners, along with key lessons learned from executing high-volume M&A. Things You’ll Learn: How to build a roll-up strategy from scratch Understand how to pitch to investors and raise capital without an initial deal in place Gain insights into sourcing and executing deals with a people-first approach Discover the importance of rapid integration and operational efficiency Hear how to build strong relationships with business owners and private equity partners _________________________________ This episode is  sponsored by DealRoom BI. Harness the power of real-time data to make data-driven decisions by building, visualizing, and sharing interactive M&A reports seamlessly. Visit DealRoom.net to learn more._________________________________ Episode Timestamps: [00:00:00] Introduction & The Importance of M&A Reporting Automation [00:02:00] Guest Introduction: John Cerasuolo's Background & Key Lessons from the Navy [00:07:00] The Role of Private Equity in Roll-ups [00:10:30] Building a Roll-up Machine: Step-by-Step Guide [00:13:45] Sourcing Deals & Choosing the Right Industry [00:21:20] Securing the Right Investment Partner & Negotiating Terms [00:30:30] First Deal & Launching Leap Partners [00:33:00] Building a Strong Pitch to Business Owners & Characteristics of Leadership [00:40:00] Integration Strategy & Operational Efficiency [00:45:00] Partnership with Business Owners & Culture Building Post-Close [00:48:30] Craziest Thing Seen in M&A & Final Thoughts  

Jeff Giles, Executive Vice President at Core & Main, specializes in high-volume M&A with a history at top firms like Emerson Electric. He discusses the vital connection between cultural fit and successful acquisitions, emphasizing relationship-building in deal sourcing. Jeff shares his strategic insights on market mapping and highlights the importance of technology for effective integration and transaction management. With over 60 deals under his belt, he reflects on negotiation tactics and the complexities of ensuring a smooth post-merger transition.