Articles & Publications

as seen in Crain’s Cleveland Business, Jan. 21, 2019 In a business acquisition, the buyer should receive sufficient net working capital (“NWC”) to operate the business in its ordinary course. The assessment and negotiation of NWC is important; however,. Read More >>

Improper revenue recognition has long accounted for a substantial portion of financial statement fraud. By simply recording revenue early, a dishonest business seller trying to inflate the sale price or an employee under pressure to meet financial benchmarks can. Read More >>

The initial offer a business buyer makes to a seller is rarely set in stone. In most cases, the two parties must negotiate purchase-price adjustments (PPAs) — differences between the originally stated and the final price at closing. Why. Read More >>

Most business owners spend a lifetime building their business. When it comes to succession, business owners need to weigh the benefits and detriments of a variety of potential exit strategies. This could involve selling to either a strategic or. Read More >>

Sometimes an M&A deal ends up not only in a different place from where it started but in a different guise. Whether it’s due to shifting market conditions or other unforeseen factors, a buyer’s acquisition strategy may change during. Read More >>

Many have heard that if you’re in the fill-in-the-blank industry, your business should sell for a fill-in-the-blank number times fill-in-the-blank measure. These types of guidelines are widely discussed and generally accepted. There’s only one problem: they are rarely correct.. Read More >>

  Business sellers are always well advised to highlight their strengths when marketing their company to prospective buyers — such as experienced management, distinctive products or a strong brand. However, one potential key value driver that’s often overlooked is. Read More >>

What is a business worth? It depends on a lot of things. A better question is: What is a business worth to whom? Every valuation has a purpose, and different purposes require different standards of value. For example, if. Read More >>

Often, business owners approach a valuation with a mix of excitement and anxiety. Will the valuation go well? Will the results match expectations? Before the process starts, though, a reality check may be in order. It’s wise to keep. Read More >>

CRAIN’S CLEVELAND BUSINESS – Best Practices in M&A Issued the week of January 16, 2017 By Mark B. Bober Most studies suggest that 70% to 90% of acquisitions fail to generate the investment returns targeted by the acquirer. M&A. Read More >>