Private Equity’s Post

Most owners underestimate how much culture impacts valuation. Buyers want to see teams that can thrive during transitions. Here's how to build that kind of culture. Read here: https://lnkd.in/e6ReFr9x Get your free 15-minute Owner's Freedom Checklist call: https://lnkd.in/eUh6i4Ra

I talk a lot about the "messy middle" but what is the definition? This was something that was asked of me many times this past week. I have realized that there is no one right answer but I was also surprised by what I learned/heard at REEL this week. Several founders of sub $1B AUM businesses think they are in the messy middle but when I talk about it here, in my head it's GP's with between $5b-$60B of AUM that I am referring to. Here is the thing. There is not one "right" definition. It's not specifically bound by AUM or any other metric but there are a few common characteristics that firms face when they are in the messy middle. A few of the characteristics that I believe make up the messy middle: - Mission creep. Operational overhead drives business strategy - Inability to make decisions quickly due to org size/structure - Generalist vs. specialist when it comes to asset strategy - Lack of consensus by internal leaders re: direction of the firm - Inability to define your differentiation - Operations create a drag on business operations vs. generate Alpha What does the messy middle mean to you in CRE?

Most owners underestimate how much culture impacts valuation. Buyers want to see teams that can thrive during transitions. Here's how to build that kind of culture. Read here: https://lnkd.in/gDGk4SpM Get your free 15-minute Owner's Freedom Checklist call: https://lnkd.in/egk5ETY4

At today’s Insider Dealmaker’s breakfast, senior figures from investment banking and corporate finance including an impressive list of panel members came together to tackle some of the sector’s most pressing challenges: building and developing “your dream team”,  securing your legacy and the team of tomorrow and the future of M&A. The discussion made clear that transparency is vital. Leaders agreed that new hires must be under no illusions about the demands of the job — the long hours and relentless pace are part of what it takes to perform at the highest level. Yet technical ability alone is no longer enough. Today’s dealmakers must also be skilled communicators and natural networkers, able to market both themselves and their businesses in order to outpace the competition. In spite of this, all panel members recognised the changing nature of the working culture and the fact that most companies now offer some degree of  flexible working to support staff. Another recurring theme was diversity. Participants stressed that broadening representation within teams is not just a moral imperative but a strategic advantage, helping firms better connect with global clients and approach complex deals with fresh perspectives. A big thanks to Philip Westwood from Overbury for both the invitation and sponsoring the event and fabulous to see Gabriel Cash & Luke Salczynski.

M&A isn’t won on deal day — it’s won in the 12 months after. 5 critical steps that make or break integration success: 1️⃣ Aligning financial reporting and controls early. 2️⃣ Retaining key people during uncertainty. 3️⃣ Transparent communication of goals and timelines. 4️⃣ Capturing synergies without losing culture. 5️⃣ Embedding a single version of truth in planning & forecasting. Research revealed that 65% of executives cite culture clashes and weak communication as the main barrier to realising deal value. For those who’ve lived through integrations: which of these steps do you see most often overlooked?

A quick story that reminded me of the real cost of ignoring people in M&A. The other day I popped into my local post office, only to be told it would be closing for a day. Naturally, I asked why. The staff member explained that the branch had been taken over by a company called First Class Management. What struck me most wasn’t the takeover itself, but what she told me next: 👉 None of the existing staff would be kept on. 👉 Everyone had been made redundant — including herself, after 20+ years of service. I walked away thinking: this is exactly the kind of decision that can break an acquisition before it’s even had a chance to succeed. You see, in my work as an M&A specialist, I’ve developed a framework I call PPT – People, Processes, and Technology. And while all three matter, the “People” pillar is where so many deals stumble. Because here’s the truth: You can replace processes. You can upgrade technology. But you cannot easily replace decades of customer trust, deep local knowledge, and relationships that have been built face-to-face in a community. For this particular branch, the staff were the business. They knew the customers by name. They knew the quirks of how things really got done. Losing them isn’t just about redundancies — it’s about losing the heartbeat of the organisation. Of course, I don’t know the full reasoning behind First Class Management’s decision. Maybe there are financial drivers, maybe other strategic goals. But if the aim of an acquisition is sustainable growth and success, ignoring the people element almost always comes at a cost. And that’s why I believe any acquisition worth its salt has to balance all three pillars of PPT — People, Processes, and Technology. Without that, the “value” of the deal on paper rarely materialises in reality. This little post office visit was a reminder: in M&A, numbers matter, strategy matters — but people make it work. #MergersAndAcquisitions #ChangeManagement #Leadership #BusinessTransformation

Lately, the headlines have been all about mega-deals. But the real story in 2025? Mid-market M&A. Deals in the $100M-$1B range now account for nearly half of all M&A activity in Europe. And it’s not just boutiques competing here anymore, big investment banks are building out teams and shifting resources to capture this space. For candidates in investment banking, that shift means: -More visibility on deals earlier in your career. -New leadership opportunities within valuation and advisory practices. -A chance to build deeper relationships with growing, mid-sized companies. It’s a fascinating time where the “smaller” deals may actually open the biggest doors. I’d love to hear from those of you in the market: Are you seeing mid-market activity pick up in your world?

U.S. M&A Hits $1 Trillion—Tech Takes the Lead Trend: M&A activity surged past $1 trillion this summer—led by tech deals and corporate consolidation across industries. Why it matters: The pace of consolidation reshapes innovation, market power, and opportunity. Teams must adapt to integration and strategy shifts. Question: How ready is your organization—or career—to thrive amid the big tech shuffle? 🔁 Repost if change demands both agility and foresight 🔔 Follow me for insights on playing strategic M&A waves ⚖ Bigger deals require sharper strategy

What keeps top advisors up at night? 🛌 It’s not the markets. It’s not whether the S&P will be up or down tomorrow. In our experience working with the industry's most elite teams, we consistently hear 4 common concerns: 1. Gaining greater control over their business 2. Preserving the enterprise value they’ve spent decades building 3. Ensuring their clients are cared for, no matter what 4. Creating succession plans that honor their legacy The best advisors aren’t just worried about today; they’re thinking 5, 10, 20 years ahead. That’s where the right guidance, structure, and strategic partnerships make all the difference.

In a recent InvestmentNews interview, Travis Danysh, our newly appointed Chief Strategy Officer, discussed how he is guiding Focus’ strategy across external M&A, unification, and broader growth initiatives. “We must present [advisors] with a brighter future for themselves, [the team members they work with], and their clients,” he shared. He discussed how Focus Partners is leveraging scale, in-house growth capabilities, and a common equity and incentive structure to drive efficiencies, enhance capabilities in client service and career development, and deliver greater value to firms’ clients and team members. Read the full article below: https://lnkd.in/ej7jtK6n