Mergers & Acquisitions

Keating International provides both buy and sell-side M&A services for early and expansion stage technology companies in our focus market sectors.

 

These are early and expansion stage technology companies whose M&A strategies are either focused on

  • acquiring skills or technologies more quickly or at lower cost than they could build in-house by acquiring other companies or
  • on selling their companies to a buyer or merging with another company with the same "value creation" plans in order to grow and scale their companies more quickly and at a lower cost than they could as a stand-alone company.

 

To ensure a successful outcome for our clients at Keating International we follow a proven and proprietary M&A process based upon a research-driven approach. 

 

This proprietary process basically consists of the following steps:

 

1. Preparation. 

 

- Set Tasks and Timeline

- Allocate Staff Resources

- Conduct Internal Due Diligence

- Compile Business/Marketing Plan

- Ready Financial Projections

- Complete External Audit

- Ready Presentation Materials

- Begin Collecting Due Diligence Materials and Establishment of a Data Room

 

2. Research

 

- Prepare Buyers List (Tier 1, 2 and 3 for Financial and Non-Financial Buyers)

- Perform Strategic Analysis on Each Buyer

- Prepare Preliminary Valuation (Milestones, DCF and Comparables)

- Determine Proper Contacts and Collect Contact Information

- Identify Outside Influencers from Board, Consultants and Customers

- Prepare Position Statement for Each Buyer

 

3. Contact

 

- Create Introductory Correspondence

- Draft Executive Summary

- Execute NDAs and Non-Solicitations

- Screen Initial Interest and Valuation Expectations

- Establish Log on All Communications

- Refine Position/Process Based Upon Ongoing Feedback

 

4. Discovery

 

- Coordinate Conference Calls, Site Vists and Meetings

- Establish Technology Review Process

- Prepare Formal Valuation Report

- Develop Syngergy and Contribution Analysis

- Set-up NDAs with Customers and Contractors

- Finish Due Diligence on Buyers

 

5. Negotiation

 

- Organize and Host Final Visits

- Provide Structure and Valuation Guidance

- Create a Competitive Bidding Environement

- Negotiate with Top Bidders

- Sign Letter of Intent (L.O.I.)

 

6. Due Diligence

 

- Verification of Financial Statements/Projections

- Determine If Outside Advisors/Valuations/Opinions Needed

- Open Data Room

- Technical/Legal/Financial Due Diligence 

- Complete Definitive Agreement/Attachments

 

7. Closing

 

- Reps and Warranties

- Escrow Hold-backs

- Contract Signing

- Regulatory Filings

- Payment

 

8. Integration

 

- Advanced Planning - During Negotiation

- Determine Synergies

- Best Practice Analysis

- Establish Interim Transition Team

- Employee Retention Plan

- Set-up Monitoring and Reporting