EKS&H sought to enter the tech services space via an acquisition of a tech services firm in the Rocky Mountain region. EKS&H had pursued acquisitions opportunistically and episodically, wasting time and money on unfruitful pursuits. Company sought to streamline process with targeted search.
Executed a strategic buy-side process over 6-month period to:
- Establish Investment Thesis defining parameters for buying a firm and what a “successful” acquisition looks like
- Establish market-based guidelines for deal structure and risk-allocation components
- Identify and approach 100+ prospect companies, passing them through the Investment Thesis filter, to quickly narrow focus to a dozen candidates
- Extensive meetings with the dozen to narrow down to five
- Ran reverse auction among remaining five to identify best candidate with best culture and terms
- Selected best firm, ensuring compliance to Investment Thesis with emphasis on cultural fit
- Negotiated, documented (with legal counsel) transaction and close
Streamlined process identified the exact right acquisition target to accomplish EKS&H’s strategic objective. Cultural fit resulted in no employee attrition in first year after transaction. Target is a growing, contributing, and profitable practice within EKS&H.