News | Why Did They Choose TASC?
Why would a publicly traded corporation, with a wealth of alternatives, choose The Acquisition Search Corporation (TASC), when it sought an investment banker to aid in its sale? Why did its board of directors feel so strongly about the choice that it voted to retain TASC immediately after its first meeting with us?
Our client concluded that it would need a strategic buyer. It would also need an advisor able to help it to select a strategic buyer, to determine the best achievable price, to structure and negotiate a transaction to realize this price and to design a process to make all this happen.
What led this corporation to decide enthusiastically that TASC is best qualified for this responsibility?
- There is a big difference between negotiating a sale to any buyer and doing so to a strategic buyer. At The Acquisition Search Corporation, sales of entrepreneurial corporations to strategic buyers and searches for strategic acquisitions aren't just one of the things we do. They are what we do.
- You can't understand identifying and motivating strategic buyers without understanding strategy. We did the research and analysis needed to demonstrate to our client a precise and comprehensive grasp of their business, environment and strategy and their implications for designing a successful sale process.
- We didn't view our initial meetings with our client's management and board as just an opportunity to sing our own praises. We were willing to talk candidly and in depth about how we proposed to attack prospect identification, solicitation, valuation and process design. We shared our thoughts on prospect criteria, documentation to be provided, the pros and cons of an auction process, planning for contingencies and constraints imposed by their status as a public corporation.
- We recognized the substantial contributions our client's management and other professional advisors have to make to a successful sale. They bring a wealth of relationships and industry knowledge. We proposed a process that includes their full involvement in an effective team.
- To a transaction in which understanding of valuation and how to structure an offer to achieve valuation would be critically important, TASC brought over 30 years of experience in successfully valuing corporations and negotiating their acquisition and sale.
- Unlike firms that focus on a single industry and for whom sellers represent a one-time relationship, we are unburdened by obligations to buyers. Our client could be confident we would approach a negotiation with no conflict of interest arising from past or hoped for future dealings with the buyer.
- Finally, The Acquisition Search Corporation is very selective about the clients and projects it accepts. None get anything less than the full-time attention, careful thought and commitment they require. No client is ever delegated to junior staff. None is ever less than top priority.
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