On October 4, nearly 300 participants gathered at the Chamber’s first Acclr Springboard Forum to draw inspiration from the success stories of companies that have made acquisitions and to hear advice from experts for implementing their own acquisition strategy.
October 4, 2018
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Of the leaders of SMEs the Chamber surveyed, 24% plan to carry out an acquisition, most of them in the short term.
“The business community expressed the desire to delve further into acquisition-driven growth strategies.”
President and CEO
Chamber of Commerce of Metropolitan Montreal
Part I – An acquisition strategy at your fingertips: propel your business towards the next step
Acquisition as a strategic lever: 4 success stories
SME leaders share their acquisition experience PechaKucha style: four lightning-fast presentations, ten slides, thirty seconds each!
Expand your distribution network outside Quebec
Novexco’s acquisitions extended the reach of its distribution network, resulting in better control over shipping costs, increased efficiency in the logistics chain and better customer retention.
President & CEO
Novexco, propriétaire de la marque Hamster
Increase your market share and the number of services offered nationally
“Through acquisitions, Expert’Ease gained access to new markets and broadened the scope of its services.”
Make international acquisitions
“Our industry is fragmented, and the acquisition brought us new technologies.”
President & CEO
Look for talent, innovative ideas, technology, etc.
“It is important to acquire a business in which you can feel the passion of its leaders.”
Alexandre Le Bouthillier
Cofounder & Chief Operating Officer
Learning from success and failure
“You can’t base a transaction solely on numbers. If employees leave after an acquisition, it’s a failure.”
Luc Gagnon, CPA, CA
Director of Finance
Like Solmax, dare to acquire an industry leader
“Small businesses will have a hard time getting on the new technology train. Reaching a critical size is future value.”
Jean-Louis Vangeluwe, MBA
President and Chief Executive Officer
Part II – Your tools for a successful acquisition
Set up an approach adapted to your needs
A transaction is a human process. Due diligence by the human resources department is as essential as accounting and legal verifications.
Martin Deschênes, CPA, CA
Partner, Financial Advisory
Raymond Chabot Grant Thornton
How to find and assess your target
Pierre Saucier believes that in any acquisition, people make the difference.
“Good machines can be replaced; good workers less so.”
When searching for a target, OXO wouldn’t compromise on one thing: getting the founder’s assurance that he would stay on after the acquisition.
Pierre G. Tessier, MBA
Senior Manager, Business Transfer
President and CEO
Moteurs Électriques Laval Limited
Tips and tricks to finance your acquisition
Beyond financial performance, the most important financial criterion for BDC is the promise of a competent management team.
Vice President, Growth & Transition Capital
Vice President, Finance
PART 3 – Now, time for action!
Successfully integrating cultures
An acquisition doesn’t mean adapting to someone else’s culture, but creating a new one.
Ordre des CRHA
Human resources due diligence
“If your objective is to increase sales, what’s your plan for keeping your top salespeople?”
Vice-President, Human Resources, Agriculture
La Coop fédérée
Building a common culture: the merger of four Quebec ice cream makers
“The merger of four Québec ice cream makers raised the creation of a ‘new’ common culture.”
Announcing your acquisition to your clients, suppliers and the public
Don’t underestimate the risk to your reputation of an acquisition announcement! You need to plan your communications effectively.