Post 1 · the deal model
Straight from the deal-side POV. The argument a corp dev person can check against their last deal
Your deal model counts revenue, headcount, EBITDA and the synergies you
expect to realize.
It does not count the estate.
Every company you acquire arrives with a second set of everything.
Another website on another platform, another content system, another commerce stack, another set of customer records, another set
of reporting definitions. None of it appears in the LOI. All of it arrives on day one.
Most of it gets treated as an IT
matter, handled after close, by people who were not in the deal. That framing is the expensive part, because it moves a priceable
cost into the one period where nobody is looking for it.
I'm at M&A East in Philadelphia next week. If you're acquiring
at pace and this keeps landing in month four rather than diligence, find me.
Opens inside their vocabulary, not ours. "It does not count the estate" is the line people will quote back. Target A1 and A2 for the boost.