Most M&A processes lock in too early. The board appoints bankers and lawyers before the strategic question is properly framed, and the process then runs faster than the thinking. We sit with boards in the period before mandates are signed, when the choices are still genuinely open.
When clients come to us
When a board has received an unsolicited approach and needs an independent read before responding. When a founder is exploring a partial exit and wants to test the question with someone who is not a banker. When a management team is considering an acquisition and needs a sober read of the strategic fit before opening the conversation. Often when a generational transition has put M&A back on the agenda.
How we work
A senior partner sits with the board to define the strategic question first — sell, buy, partner, hold — and then to read the relevant counterparties and the structural options. The work is short, focused and confidential. We do not earn fees on the resulting transaction, which keeps the assessment honest about whether to proceed at all.
What we deliver
- Strategic options memo for the board
- Counterparty and comparable transaction read
- Indicative valuation range with rationale
- Process and timeline recommendation
- Adviser selection criteria and shortlist
- Confidentiality and process discipline throughout
Typical engagement
A preliminary assessment runs three to eight weeks. On our side, a senior partner leads with one supporting director. On the client side, the chair, CEO and CFO are the principal counterparts, with the broader board briefed at completion. The output is intended to inform the board's decision before any process mandate is signed.
Why CGLA
We do not earn placement or success fees on the resulting transaction. That structural independence is the whole point of the engagement — the board hears an honest read on whether to proceed, which is rare in a market where many advisors are paid only on completion.
