Deal Notes

Our Experience

An insightful commentary each Tuesday about lessons learned by our team of industry experts over the past 21 years, selling middle market aerospace and defense companies.

Deal Notes
March 28, 2023
Dual Use Compliance
March 21, 2023
EBITDA Multiples
March 14, 2023
Working Capital Efficiency
March 7, 2023
Disputed Software Licenses
February 28, 2023
ITAR Violations
February 21, 2023
Post-Closing Legal Liability
February 14, 2023
Conditions Precedent
February 7, 2023
The Rise of RWI
January 31, 2023
Avoiding Common Legal Problems
January 24, 2023
Affiliates
January 17, 2023
Addbacks
January 10, 2023
Debt Free Cash Free
January 3, 2023
Due Diligence Fails Employee Nexus
December 20, 2022
Increasing free cash flow in the year ahead
December 13, 2022
Strategic Competitive Advantage
December 6, 2022
Exclusivity Periods
November 29, 2022
Sell for a Higher Price
November 22, 2022
Replacement Cost
November 15, 2022
Capital Expenditures
November 8, 2022
Discounted Cash Flow Valuation
November 1, 2022
Protection of Intellectual Property
October 25, 2022
Earnouts
October 18, 2022
IOI, CIM, VDR, LOI, PA
October 11, 2022
“Comps”
October 4, 2022
Role of the CFO in M&A Transactions
September 27, 2022
Asset vs. Stock Sale
September 20, 2022
Management Succession
September 13, 2022
Controlled Unclassified Information (CUI)
September 6, 2022
After Tax Proceeds
August 30, 2022
Buyer Due Diligence
August 23, 2022
Representations and Schedules
August 16, 2022
DFARS
August 9, 2022
Long Range Sale Planning
August 2, 2022
How to Get a Higher Price
July 26, 2022
Days Inventory
July 19, 2022
Complete Disclosure
July 12, 2022
Working Capital Target
July 5, 2022
Management Presentations
June 28, 2022
Working Capital True-ups
June 21, 2022
Inflation Mitigation
June 14, 2022
Financial Projections
June 7, 2022
Assessing Intellectual Property
May 31, 2022
M&A Acronyms
May 24, 2022
Customer Consents
May 17, 2022
Revenue Analytics
May 10, 2022
The 3 Biggest Mistakes Sellers Make
May 3, 2022
Advisory Boards
April 26, 2022
Sale Preparations
April 19, 2022
Customer Concentration
April 12, 2022
Supply Chain Risk
April 5, 2022
Premium Pricing
March 29, 2022
Seller’s Deal Team
March 22, 2022
Two Types of Buyers: Financial & Strategic
March 15, 2022
Confirmatory Due Diligence
March 8, 2022
Transfer Pricing Risk
March 1, 2022
Rewarding Senior Management
February 22, 2022
M&A Attorney
February 15, 2022
Cybersecurity
February 8, 2022
Audited Financials
February 1, 2022
Agency Risk