Due diligence for assets that are changing underneath the deal
Why commercial, operational and technology diligence must increasingly test future scenarios rather than validate historical performance.
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M&A strategy
Shape M&A strategy from portfolio rationale and target priorities through diligence, value creation and integration.
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Articles
Integration is where the deal thesis gets tested
How post-merger operating choices, synergy discipline and organizational readiness determine whether expected transaction value reaches performance.
Read articleFocus
Target screening should begin with acquisition criteria, not company databases
A useful radar translates strategic priorities into observable characteristics that distinguish relevant targets from merely available ones.
Portfolio strategy requires deciding what the enterprise should stop owning
Exits and reconfiguration free capital and attention when assets no longer fit strategic priorities or ownership no longer creates advantage.
Strategic challenges
What must integrate first for the deal thesis to remain credible?
The challenge is sequencing change around value drivers and critical dependencies instead of trying to combine everything at once.
Where does M&A genuinely improve the portfolio?
The challenge is identifying where acquisition changes strategic position faster or better than organic investment, partnership or exit.
POV
A forecast is not commercially credible because the spreadsheet balances
The revenue case should be supported by observable customer and market behavior, not by internal consistency alone.
If the acquisition logic cannot be stated simply, the deal may not have one
Complex narratives often hide the absence of a clear reason why ownership should improve enterprise value.
Strategic impact
A disciplined acquisition radar makes target identification more selective
Clear filters help leadership focus on businesses that fit strategic needs before time is spent on detailed evaluation.
A clear consolidation thesis defines where successive deals can reinforce one another
Explicit scale and capability logic helps buyers distinguish coherent platform building from opportunistic asset accumulation.
What we observe
Target lists often become long because acquisition criteria remain vague
Broad screening creates activity but little discrimination when strategic fit is described in generic rather than testable terms.
Operational diligence often focuses on cost opportunities and misses execution fragility
Apparent efficiency can conceal capacity bottlenecks, key-person dependence, weak controls or deferred investment.