Welcome to the “Show Me The Way” podcast with David Seitter
In this episode of “Show Me The Way,” Dave sits down with Chuck Williams, former SVP and General Counsel of Performance Contracting Group Inc., to discuss how companies can increase their chances of success in the complex world of M&A following established processes, considering cultural fit, and learning from past experiences.
Ep. 21 — The General Counsel’s M&A with Chuck Williams pt. 2
M&A Success Strategies
In this episode, Chuck Williams, former SVP and General Counsel of Performance Contracting Group Inc., discusses the successes and failures in the company’s M&A strategy and process. He emphasizes the importance of choosing the right acquisition candidate and sticking to established processes and procedures. To hear more details about how to find the right acquisition partner, listen to part 1 of this interview.
Chuck then shares war stories of successes and difficulties. One lesson such as when they found an ideal add outside their core business and expanded their opportunities in the clean room industry. He explains how they then acquired new businesses to complement existing ones.
Open Conversations and Cultural Fit
Chuck also delves into the significance of integrating the target company’s human resources and the value of having the owner stay with the company for one or two years to help guide the transition. He explains how vital open conversation with the owner is before, during, and after the acquisition process. Additionally, he shares the successes and challenges faced by their company in various acquisitions, emphasizing the importance of cultural fit and owner involvement in the transition process.
Noting that there were a few missteps in acquisitions during his time as General Counsel, Chuck highlights the importance of following established processes and learning from past experiences to improve strategies and processes in M&A.
Throughout the episode, Chuck shares valuable insights from his experiences in the world of mergers and acquisitions. He highlights the importance of staying true to the company’s acquisition candidate profile and learning from past experiences to improve strategies and processes.
Lessons Learned and Experiences
One key takeaway from Chuck is the importance of working with an acquisition candidate on an actual project, such as a joint venture, before engaging in acquisition discussions. This allows both parties to get a better sense of the company’s culture, processes, and potential for success. Chuck also emphasizes the need for flexibility in the details of the transaction and the importance of staying true to the company’s profile when considering potential acquisitions.
Another important lesson from the episode is the significance of cultural fit in the success of an acquisition. Both the buyer and the seller must consider the cultural compatibility of the companies involved in the transaction to ensure a smooth transition and continued success. Chuck shares examples of acquisitions that succeeded and failed due to cultural fit, demonstrating the critical role that culture plays in the M&A process.
For more details and to learn what potential buyers are looking for in your business, be sure to check out part one of the interview with Chuck Williams.
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.