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M&A Buyers: A Basic Script for Initial Calls to Prospective Targets

The following is a basic script that works well in making M&A acquisition search calls. As with the script for selling a business, you should not read this text verbatim. Instead, it sets up the flow of the basic information you want to convey during the initial call. Use this as a model for creating your own script.

[Owner’s name], my name is [your name]. I’m with a business advisory and investment banking firm.
One of my clients has asked me to help them grow their business. I know you probably get calls like this all time, but I was hoping to talk with you for a minute, explain their vision and plan, where they want to go, opportunities that we see to create a lot of value, and see if anything holds water for you.
  • My client is a profitable, midmarket telecommunications company.

  • They’re led by former top execs from leading telecommunications companies.

  • They have deep industry knowledge, experience, and connections.

  • Their company currently has strong customer relations with large companies, federal and state governments, universities, and mid- market companies.

  • We believe there is a compelling story to combine with other well-run companies in a few seemingly unrelated industries, which include data centers, software, and alarm, fire, and security systems.

    They’d like to build off of and leverage further their existing sales relationships and add other products to the mix. We believe the combination of my client’s collective experience coupled with the management expertise of companies they merge with, or otherwise partner with, could build a billion-dollar revenue company, which would obviously create quite a bit of value for those who are involved.
    I’d like to talk with you to explore whether our notions might fit with your goals.

Don’t worry about your script being grammatically perfect. You’re not going to read it verbatim. The goal is to pique someone’s interest and have a conversation about the thesis, whether that thesis makes sense to the business, and eventually, whether the business owner is interested in exploring a deal.

Not every call results in a great conversation; that’s why your target list needs to be large enough. But if you have enough conversations, are willing to immerse yourself in the calls and communicate, and are a genuine person with an approachable personality, you can find success with this technique. It works much better than the usual “We have money . . . .” spiel.

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