M&A Science
Four Questions That Defined a $1 Billion Deal with Robert Lovegrove
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Close to 100 people. Roughly 18 functions running diligence. A checklist of 100-plus items. On the largest deal in Milliken & Company's history, Robert Lovegrove kept all of it anchored to four questions.
Robert, VP Corporate Strategy at Milliken, breaks them down: Is the technology's advantage defensible? Can we live with the customer concentration? Do we believe in the market's growth? Who are the key people, and how do we keep them? He also covers adjacency maps built down to the profit-center level, why Milliken won its two largest deals without being the highest bidder, and the customer awareness study that became non-negotiable after key customer programs wound down within two years of a close.
Robert's warning that a diligence team that size can easily get bogged down is the problem DealRoom Diligence was built for. Requests, owners, and findings sit in one workspace, and the findings list carries straight into the integration plan. See how centralizing diligence can reduce due diligence time by 50%: click here.