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.