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Podcast: M&A Science
Episode:

Buying Carve-outs for Future Exits
Category: Business
Duration: 00:54:55
Publish Date: 2023-07-17 05:57:00
Description:

Joe Covey, a serial CEO and acquirer, and investor since 1992. 

Matthew Davidge, is the co-owner of the NBC Affiliate WVNC (Watertown, NY) and several other stations around the country.

This episode is sponsored by the M&A Science Academy. If you’re looking to improve your in-house training, we have corporate training plans provided.

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Episode Timestamps

00:00 Intro 

06:43 Buy-side carve-out deals              

10:35 Key approach to due diligence               

11:52 Unbinding a company                

13:51 Why carve-outs are difficult                

15:41 Conversations with the right people        

19:05 Key things to consider when doing a carve-out

22:58 Walking away from a deal

23:59 Considerations in the carve-out model

26:32 Challenges on the buy-side of carve-outs

27:58 You have to surround yourself

30:21 Evolving the operating model 

34:37 The right time to exit

35:55 How working with an investment bank is different

37:48 Bank process vs. Proprietary deals 

39:21 Key lessons

40:55 Timing

42:14 Communications

43:34 Alignment on post-close operations

45:27 Advice for first-time sellers

47:57 Negotiation considerations

49:59 Craziest thing in M&A
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