Growth through key acquisitions1.05.2018
We recently featured in February’s edition of Comms Dealer, focusing on growth through key acquisitions, with comments from 9’s Acquisitions Director, Nick Webster. This article will unravel a more in-depth discussion from Nick’s perspective.
9 has always made a virtue of growing through a balanced mixture of organic sales and growth via acquisitions, where possible.
Although not always a smooth journey, a key challenge Nick pointed out is customer integration, which can be overcome by careful advance due diligence and a comprehensive, multi-disciplinary plan for welcoming the newly acquired customers to 9.
He brings an emphasis towards the starting the process with a positive approach, ensuring all regular queries from customers are answered upfront, leaving space for our teams to handle their individual specific concerns in a timely manner. He explains
Customers will not have asked to be transferred a new supplier, so you need to make them feel important, welcome, reassured and cherished very quickly.
Seeking and tracking trends are key in the Mergers and Acquisitions (M&A) market. Nick suggests that IT products in conjunction with the evolving technology based acquisitions may be a trend worth considering. Nick gives some advice to potential vendors
The more comprehensive and accurate your customer information is, the easier the sales process will be. The advent of GDPR makes this an even higher imperative.
In reflection, Nick says
You can never do too much diligence. Learn from the last acquisition and keep asking many, many questions, so you avoid unwelcome surprises. Experience has taught us that no two acquisitions are the same and both parties need to have the mental contingency to manage the variables which will inevitably emerge.
Make the process frictionless for both parties – a successful deal is one the both parties think is a good one. Egos need to be parked at the door, so that mutual commercial satisfaction can be allowed to inform the process.