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SERVICES:
Acquisition Programs
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Tucker is often engaged to conduct comprehensive
acquisition programs on behalf of its clients. These
engagements, typically initiated by the client’s CEO,
commence with an analysis of the strategic options
facing a company. When it is sufficiently determined
that growth via acquisitions is the best strategy (a
process which Tucker sometimes spearheads but always
participates in), Tucker commences a thorough
evaluation of the target industry and its competitive
structure. Tucker gets inside the industry in question,
develops profiles of the key players, identifies the
success factors and the industry dynamics. All the
players are identified, both public and private, and a
detailed competitive database is built. We help our
clients develop a working acquisition screen which is
then applied to the database to identify promising
candidates. The screened candidates are ranked by
acquisition selection criteria and a strategy for
approaching potential candidates is carefully devised.
Rarely are target companies for sale. It is necessary
to make a compelling case to a target company as to why
a relationship with our client is in their best
long-term interest. Tucker manages the initial approach
with great care and patience and brings the target
company to the table with realistic enthusiasm for
further discussions. Having convinced our targets of
the wisdom of an alliance, Tucker spearheads the
crafting of a deal as well as the comprehensive
negotiations which follow. Tucker coordinates all
aspects of the negotiation process right through to
close and typically assists the client in creation of a
comprehensive post-acquisition transition plan.
An indication of Tucker’s thoroughness in its
acquisition efforts is the frequency with which we have
been asked to participate in assisting in the ongoing
management of an acquisition post closing. Tucker has,
and continues to, actively participate in monthly
management meetings for many of the acquisitions we
closed. We have completed successful acquisitions for
companies like Torstar (nine companies over 7 years
which established them as the 4th largest supplemental
educational publisher in the US, followed by two more
in 2003 and 2004), Bayard Press (the world’s largest
Catholic publisher’s first acquisition in the US,
followed by two more in 2003 and 2004), and The
National Geographic (Trails Illustrated and
Wildflower
Productions, the first two acquisitions since its
founding in 1888).
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