Opportunity knocks but once

We had strong interest in our client company, with high value offers from very qualified strategic buyers. What ultimately caused deals to fall apart was not a collapse of the market, or faulty financials, or due diligence issues. Unfortunately, what killed the deal was the cockiness and arrogance displayed by the Founder/CEO and his hired gun President. They loved playing off each others egos, and their gamesmanship in meetings with buyers eventually undermined the offers. In effect, their behavior created a culture clash with the buyers at the very highest level. What could have been a 20+ million transaction in 2001 has vanished, and the companys fortunes have never recovered. If you dont do it when you can, the opportunity may never resurface.

Posted by , Chairman Emeritus on 13 September 2011
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