northwood university 2015
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TOMMARX• 30+yearsina,ermarket
– Marke1ngCommunica1ons– Mergers&Acquisi1ons
• Mostsegments,channelsandproducts
• Industryengagement
INTRODUCTION
©2015MarxGroupAdvisors,LLC 2
DrivingSmarterMergers&Acquisi4onsExperience.Knowledge.ExperKse.
• Automo1ve• Performance• SpecialtyProducts• Motorsports
• CommercialVehicleandHeavyDuty
• Tier1,Tier2andA,ermarket
MARXGROUPADVISORS
©2015MarxGroupAdvisors,LLC 4
OURSERVICES
Buy-Sell-Merge
MarketResearch
DueDiligence
AdvisortoPrivateEquity
Consul1ngServices
Equity&DebtFinancing
5©2015MarxGroupAdvisors,LLC
6©2015MarxGroupAdvisors,LLCForacompletelistofclients,casestudies,andpor<oliosvisit:www.themarxgrp.com
WEDELIVERRESULTS
7©2015MarxGroupAdvisors,LLC
Foracompletelistofclients,casestudies,andpor<oliosvisit:www.themarxgrp.com
WEDELIVERRESULTS
2
3
1
HowToSurvive...andThrive
WhatToExpect
M&AScenarios
M&ASURVIVALOVERVIEW
©2015MarxGroupAdvisors,LLC 9
TodayandTomorrow• Consolida1onsdriveHDsector• Dealskeephappening• FleetPrideandTruckPro• Distributors• Suppliers• OES• Independentservicedealers
HeavyDutyIndustryConsolidating
©2015MarxGroupAdvisors,LLC 10
M&ASCENARIOS
Sell/Divest
Acquire
Merge OwnershipEvents
PrivateEquity(PE)
READY—AIM—FIRE
©2015MarxGroupAdvisors,LLC 11
• Exitstrategy:planned--ornot• Re1rementandnobullpen• Accident,illnessorworse• Financialchallenges• Disagreementsbetweenpartnersorfamilymembers• Anapproachtocorporaterestructuring• Getridofanunderperformingasset• Capitalizeonbe^erperformingassets• Anofferthatcannotberefused• Freedom–Itisn’tfunanymore!
SELLORDIVEST
©2015MarxGroupAdvisors,LLC 12
• Groworfadeaway• Strategicacquisi1ons
• Territory• Marketshare• Economiesofscale• Gainnewcustomers,
suppliers,management,technology
• Takeoutthelowpriceleader
ACQUIRE
A B
©2015MarxGroupAdvisors,LLC 13
A B
A B
MergersarepropelledbymanyofthesamereasonsasacquisiKons• Sharedownership/equity
ratherthanstraightbuy-out• Powerandvalueofthe
en11esallowforcontrolofequity,jointpowertomakedecisions,andsharedresponsibili1es
MERGE
A
BC
©2015MarxGroupAdvisors,LLC 14
SuccessionplanninggoneRIGHT• Nextgenera1onmoves
intoleadership• Seamless• Allonthesamepage• Plansuccessfullyexecuted
withminimumofdrama
OWNERSHIPEVENTS
©2015MarxGroupAdvisors,LLC 16
SuccessionplanninggoneWRONG• Currentgenera1onwon’tletgo• Illnessorworse• Fric1onbuilds,frustra1ongrows
andfinallyoutsidetherapycomestorescue
• Dramacreatesri,s,slowsgrowth,createsrisk
• Planisn’texecuted
OWNERSHIPEVENTS
©2015MarxGroupAdvisors,LLC 17
PEfirmsdriveconsolidaKon• Providefunds/exper1seneededto
growthebusiness• Highermul1plesmo1vatesale• Supportssuccessionplanning• Buysoutcertainfamilymembers• Someacquisi1onsare100%andsomecanbe
par1alcash-outorasmo1va1ontostay• Theul1mateexitstrategy• Result:Younowareaccountabletosomeoneelse
ROLEOFPRIVATEEQUITY
©2015MarxGroupAdvisors,LLC 18
• Sell• Acquire• Merge• Privateequity• Ownershipevent
CHANGE–RELEVANCETOYOU
Haveyouexperiencedthesescenarios?
©2015MarxGroupAdvisors,LLC 19
Whattoexpect• Survival• Organiza1onalconsolida1on
andadjustments• Yourvaluetosurvivingen1ty• Leadership
CHANGE–RELEVANCETOYOU
©2015MarxGroupAdvisors,LLC 20
Theinnersanctum• Whatdoesthismean?• HowdoIgetthere?• HowwillIknow?• HowdoIreactwhen
surpriseshappen?
CHANGE–RELEVANCETOYOU
©2015MarxGroupAdvisors,LLC 21
WillIthrive?• Stayposi1ve• Findwaystodrive
collabora1on• Showobjec1vity• Befocused• Knowwhentohold‘em
vs.whentofold‘em• Andthroughallthis--get
yourdayjobdone
CHANGE–RELEVANCETOYOU
©2015MarxGroupAdvisors,LLC 22
SINCERITY
• Beme1culouswithpreparingcompanyfortransi1on
• Keepingitquiet—thetruemeaningofanNDA
• WheredoIgotoreleasethetension?
• Theul1matesignofmaturity• DoIjumpship?
YOURCOMPANYISSELLING
©2015MarxGroupAdvisors,LLC 23
TRUST
• Devilisinthedetails• Integra1ono,enisthe
differencebetweensuccessorfailure
• Planningisimportant–execu1oniseverything
• Buildadiverseteam• Opportunityknocks
YOURCOMPANYISBUYING
©2015MarxGroupAdvisors,LLC 24
• Crea1ngfinancialgain• Efficiencyiskey• Keepingcustomershappy• Opportunityknocks• DoIjumpship?
YOU’RESELLING/MERGING
©2015MarxGroupAdvisors,LLC 25
• Thefounda1onforsuccessfulM&A• Makesurethatthewholeismore
valuablethanthesumoftheparts• Noroomforduplicateexpenses• Expectmanychanges• Keepfocusonthemetricsrequired
byboard,bankorPEfirm
YOU’RESELLING/MERGING
©2015MarxGroupAdvisors,LLC 26
• Teambuilder• Accountable• Decisionmaker• Redesignorrefinethe
company’sculture
ALWAYSBEYOURBEST
©2015MarxGroupAdvisors,LLC 27
• Retainthebestpeople• Keepyourteaminformed• Maintain/increase
produc1vity• Handleissuesbefore
panicsetsin
MANAGEYOURPEOPLE
©2015MarxGroupAdvisors,LLC 28
SUCCESSISOFTENUPTOYOU
Demonstrateleadership
Listentopointsofview
FindSoluKons
Buildtheteam
Noroomforegos
©2015MarxGroupAdvisors,LLC 29
• Growthebusiness• Buildthebrand• Clarifyvalueproposi1on• Focusonsales• Targetmarke1ng• Streamlineopera1ons• Understandthefinances
SHAPETHEFUTURE
©2015MarxGroupAdvisors,LLC 30
QUESTIONS?
1 2 3 4
Whereareyouintheprocess?
Whatelseareyoucuriousabout?
Whatareyourconcerns?
Whatstopsyou?
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