Tuesday, 5 December 2017

M&A stuff

I should have done this post yesterday. 'Oh, you should have done this post yesterday, boss.' Yes, I just said that, you idiot! 'Okay.' Christ! Instead of the Amazon treasure thing ... / Anyway ...

Consulting firm M&A transactions set to rise, with sector convergence and 'dry powder' driving increased competition.

What on earth is dry powder?! Never mind. I guess they'll tell us at some point.

Equiteq's 2017 global survey of buyers of knowledge-intensive services businesses found an increasing appetite for transactions, with buyers expecting to initiate on average 10 acquisitions each over the next three years.

Well, good for them. Buyers, eh? 'It's just the way they are, boss. Buyers are always buying. Players are always playing. Dreamers are -' Thank you, Voice. That's enough.

IT services and management consulting companies expect to be the most prolific acquirers, initiating close to 12 acquisitions on average. The average size of targets is also expected to increase in 2018, with optimal revenues of targets rising by over 50% to $62.6m.

How do they know all this?! 'They did a survey, boss.' Yeah, yeah. It's basically fortune-telling, ain't it? 'Er ... not really, no.' Shut up!

The annual, independently conducted survey of Management consulting, IT consulting, Media and Marketing, Engineering consulting and HR consulting buyers found that market convergence continues to be a key trend as buyers look to diversify.

Okay, okay. Now, I'm sure Mr Jorgenson has got something he wants to say. 'Ha! Our Dave? Just you try shutting him up, boss. Of course he's got something he wants to say!' All right, Voice, all right. Jesus H. - !

David Jorgenson, CEO, Equiteq, comments: "This continued convergence across consulting segments means that although sellers can attract premium valuations for synergies, they are less likely to come across their optimal buyer in the normal course of their business."

Well, well. Right, there's more, uh ... stuff, and then David adds. 'Let him add!' Oh, I will. But I'm not going through all the other stuff. I'm not in the mood. It's nearly Christmas.

Jorgenson adds: "This year we organized our survey to identify specific buyer behaviours in each of the eight levers of our core assessment of firm quality, the Equity Growth Wheel. It was clear from the research findings that many sellers are missing out on premium valuations by not positioning their businesses to be aligned most effectively with the needs of buyers."

Oh, they're calling him Jorgenson now, not Mr Jorgenson. 'Our Dave.' It should be Mr Jorgenson to show respect, or our Dave to show affection. I'm not impressed by this "Jorgenson" business at all. Who wrote this bloody email?!

Never mind. Let's move on ...

No, let's not, actually. 'Brexit?' Get lost! Seriously. 'Okay.' I'm not doing Brexit. FFS!