Mergers & Acquisitions

Resources: M&A Talk Podcast

At M&A Talk we bring you exclusive interviews with experts in business sales, valuations, mergers and acquisitions and more. We talk to the most experienced professionals in the industry to uncover their secrets.

How High-Growth Private M&A Works From the Inside

How High-Growth Private M&A Works From the Inside

Will Hawthorne

Venture Capital

How does high-growth private M&A work? What are some of the industries involved, and what is the process? Will Hawthorne, General Partner at Sugar Capital, a venture capital firm, shares his experience in the high-growth private M&A market. He discusses the major differences in deal structure between private and public deals, recent changes in the market that impact how cash-rich companies grow, how valuation is handled in high-growth M&A, and the influence that trust and honesty can have on a deal.

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Guest Profile

Will Hawthorne is the CEO of Avid Capital Advisors, a boutique M&A firm, and a General Partner at Sugar Capital, a venture capital firm. Previously, he was a Partner at Code Advisors from 2011 to 2022, and Head of Internet and Digital Media M&A at JPMorgan from 2000 to 2011.


Topics Covered

  • What is high-growth private M&A? [1:02]
  • What are the major differences between traditional M&A companies and high-growth private M&A companies? [2:30]
  • How does the M&A process work differently for high-growth companies compared to everyone else in the industry? [4:30]
  • Who are the buyers involved with high-growth M&A? What are the transaction sizes? [6:00]
  • How is the compensation component structured in a high-growth M&A transaction? [8:19]
  • What value drivers do high-growth buyers look for? [11:07]
  • What do acquirers consider when they make the buy vs. build decision? [12:24]
  • What size team handles a big public M&A transaction? Who is involved? [21:22]
  • How is valuation handled in high-growth M&A? [23:32]
  • Why is honesty under-utilized in M&A? [30:00]
  • What role does trust play in M&A? [32:50]
  • Experiences and mistakes made in M&A [35:58]
  • What are the biggest mistakes sellers make before they go to market? [42:16]
  • What are earnouts? [51:06]

Learn More


Resources Mentioned


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