Common Mistakes When Buying a Business – TriVista CEO, Tim Ristoff, Speaks on Dicussion Panel
On Monday, September 8th, TriVista’s CEO & Managing Director, Tim Ristoff spoke on an engaging panel entitled, “Common Mistakes Made in Buying a Business.”
The discussion focused on eight of the most common pitfalls that strategics and private equity firms struggle with when purchasing a business.
Some of the most common mistakes included:
• Paying too much for the business
• Not understanding the complexity of the business
• Not doing enough due diligence
• Weak LOI in purchase agreements
• Lack of post-deal integration
Unfortunately these types of problems are all too common and TriVista has seen our share of acquisition blunders. “Complexity can sometimes be a value destroyer,” said Tim Ristoff when commenting on some of the challenges that make acquiring a business difficult. “Recently we have seen the average diligence time frame get squeezed down to four weeks… sometimes even less” said Tim; which means less time for a deep dive and more chance to miss complexities that can lead to problems later.
TriVista has helped solve these issues before they start for many equity firms. “Timing is key to success,” said Tim. “The diligence should start pre-LOI.”
By conducting operational due diligence on the front end, TriVista helps prepare businesses for the challenges that lie ahead and help build the framework to get the ball rolling immediately post close. To learn more about our due diligence services or post-close integration services, please click here.