When looking for candidates to either merge with or acquire, a company should consider bringing on board professionals who have industry knowledge and resources to identify potential candidates. If done correctly, the process can be quite time consuming. Individuals or certain organizations that specialize in outreach programs will typically have profiles of potential target company candidates, as well as contact information, readily available. This helps speed the process along and frees up management time.
Those who specialize in outreach programs have the procedures and resources to make the program a success. These programs require multiple methods that need to be used in order to get the message to the candidates. The methods may include direct mail to specific identified candidates, follow up e-mails and phone calls to the candidates, press releases concerning an opportunity for merging or acquisition and/or exposure in industry newsletters. It helps that an organization has industry recognition and knowledge. It brings credibility to the message and often times makes it easier to reach the candidatesâ decision makers.
As most of us know, there are many organizations making calls to companies in our industry; most are ignored. But, if the contact is made by people affiliated with known and trusted organizations, the candidate is generally open to begin a dialogue.
I had a recent conversation with a CEO contacted during our outreach efforts for a client; in fact, this person went on to enter into an M&A transaction with our client. This CEO was discussing the many inquiries that he received from potential suitors that he ignored. I asked why he took the time to talk to me and not the others. He said it was only because he was aware of NAPL and their excellent reputation within the printing industry.
If you want to chat, give me a call at 201-523-6326 or e-mail me at firstname.lastname@example.org .