One of the hardest decisions in M&A advisory isn’t about the deal you close but the deal you don’t.
Recently, we were deep into a process with a great business, a willing buyer, and a clear path to completion.
Then we uncovered something that didn’t sit right. Not a catastrophic issue, but a material one that would have impacted the seller’s outcome.
We had a choice:
- Push through, get the deal over the line, take our success fee.
- Or step back and reset, and risk losing months of work.
We chose to walk away.
Because our reputation and the client’s long-term outcome matter more than a quick win.
It was painful in the moment. However, a few weeks later, a second buyer candidate expressed continued interest, and we eventually secured an even better deal.
Sometimes, walking away is the most valuable thing you can do.
