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ACEC Texas One-Day MBA

ACEC Texas One-Day MBA. Mergers & Acquisitions (M&A) Takeaway The story of consolidation in the e ngineering consulting industry. Presented by Mike Cauley Principal Consultant / Advisor Morrissey Goodale LLC. A little about myself… Education General experience and specialty/focus

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ACEC Texas One-Day MBA

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  1. ACEC Texas One-Day MBA

  2. Mergers & Acquisitions (M&A) Takeaway The story of consolidation in the engineering consulting industry Presented by Mike Cauley Principal Consultant / Advisor Morrissey Goodale LLC

  3. A little about myself… Education General experience and specialty/focus Experience in “The Built Environment” Mergers and Acquisitions experience

  4. Outline for Today • Establish the M&A marketplace • Why you should care about the M&A marketplace • Perspectives from the front lines • What you should be doing today and beyond

  5. Establish the M&A marketplace

  6. Historical global M&A activity

  7. Historical global M&A activity

  8. Historical domestic M&A activity

  9. 2011-2012 domestic selling M&A activity

  10. 2011-2012 domestic buying M&A activity

  11. Historical Texas M&A activity

  12. Historical domestic M&A activity

  13. Historical inter-country M&A activity

  14. The M&A Market Highlights Heightened activity both domestically and globally Texas contributes heavily to the domestic M&A market The U.S. is not as attractive to overseas buyers The level of in-state deal making is up relative to years past but still not surpassing the amount of growth-focused interstate transactions As the economy turns around, the M&A market will continue to expand

  15. Why should you care about the M&A market?

  16. Consolidation

  17. 2011-2012 Texas M&A activity

  18. 2011-2012 Texas M&A activity

  19. Why should you care about M&A? • Heightens your competition. • Can be used to drive shareholder value by adding smart geographic coverage, service lines and/or end markets/clients; increasing market share; increasing scale; and/or yielding cost efficiencies and synergies. • Provides an alternative to organic growth. • Can be used to satisfy numerous objectives that firm owners contemplating selling may have.

  20. Perspectives from the front line

  21. Technical Services

  22. Market Sectors / End Clients

  23. Domestic Regions

  24. Deal Pricing

  25. Deal Pricing (illustrated)

  26. Additional buyer perspectives • All things energy and environment…and healthcare, biotechnology and life sciences • What have you done for me lately? • The “umbrella” effect • Organic growth challenges • Going to the coasts, Texas and all things Sun Belt in between • Canada, Australia and emerging markets

  27. Additional seller perspectives • Caught in the middle • Traditional ownership transition and capitalization models are being challenged • Looking to liquidate investments • Looking for a smart way to backup resources • Doing right by my staff…for the long-term

  28. What should you be doing moving forward?

  29. Being a “Ready” Seller • Understand what selling would mean for you and your firm and understand everyone’s goals. • Understand your market position. • Have the answers ready before they are even asked. • Do not lose focus on your business. • If it is not right…

  30. Being a “Ready” Buyer • Prioritize your sought after services, markets and regions. • Understand the financial implications of doing a deal. • Develop an understanding of the options available to you. • Be ready to act fast. • What’s your story? • Know what you are looking for to verify and develop a list of deal breakers. • If it is not right…

  31. Questions? Mike Cauley Principal Consultant / Advisor Morrissey Goodale LLC mcauley@morrisseygoodale.com 480.323.5083

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