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John D. Wagner

Don’t let something you’ve said ruin a deal

Deals go south and suitors bow out of contention for lots of reasons, typically lack of strategic fit, inadequate cash flow, or because the...

A culture of safety is key to an acquisition

I once did a site walk-through with a potential acquirer—actually an entire team from the acquirer—that wanted to look over the grounds of my...
revenue

That’s not a downward trend! Let’s normalize revenues

One of the worst red flags for an acquirer is when they see your revenues drop in the year you sell your company compared...

How to communicate news of the sale of your business

It's hard to keep secrets around the office if more than a couple people are “in the know” about goings on. So, when a...

Why do deals fall apart?

Acquisitions do not get completed due to concerns originating from two general sources: From the seller’s point of view, the business owner can be...

Maintaining (and increasing) gross profit margins

It's hard to underscore enough the importance of maintaining consistency with your Gross Profit Margins (GPMs) over a period of years. In every deal...

Are you discounting too much at the top?

If you take your company to market, there are clearly delineated phases to your engagement with a serious suitor. After you have whittled down...

Can your company be repriced after the letter of intent?

Here's a dreadful prospect that you want to avoid. Let’s say that you put your company on the market, and—for ease of math—you are...

Should you consider an asset sale or stock sale?

One common question that comes up as a deal moves toward a closing is whether the sale should be an asset sale or a...

The (irksome) due diligence process

The excitement of receiving a letter of intent (LOI) for your business is something everyone selling their business looks forward to. The LOI maps...

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