Situation: Company at a strategic crossroads with consolidation occurring in its industry. Management and the Board faced the decision of whether to be an acquirer of seller.
- Company’s growth was being constrained by geographic limitations of its charter and the fact that it was a single product provider with no cross-sell opportunities.
- Prior attempts to acquire/merge with similar companies had been reactive to opportunities and had failed.
- Company lacked had never done a formal acquisition target analysis.
- Developed a comprehensive financial and business assessment of each industry participant.
- Identified best candidates to be merger/acquisition partners.
- Worked with executive management and Board to develop a decision to remain independent and seek merger or acquisition opportunities.
- Board decided to remain independent.
- Merger/acquisition partners prioritized.
- Evaluated large merger opportunity identified through the process.