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Top 6 Attributes to the Perfect Add-On
March 21-23, PEHUB’s BuyOuts East Conference in Boston,
@PEHUB by @StepheneLewis, Stephen Lewis, Managing Director of Headwaters MB, an investment bank focused on lower middle market M&A, summarized what he thought was the answer to the panel’s topic, “Finding The Perfect Add-On,” or what a perfect tuck-in or “platform bolt-on” might look like:
2x projected synergies in ½ projected time
New company management perfect fit & happy to be acquired
Combined company has sufficient scale and market presence to have PE & strategic buyers willing to pay a very high multiple
No distribution or customer overlap (double market)
No office/plant closures
Acquired company’s corp jet is paid for
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