Today's press release provides a nice overview of the transaction in which NAPL client Mount Royal acquired the sales assets of Jarboe Printing Company.
Download Mount Royal Printing Company Inc Acquires Jarboe 11-16-09
What is not said in the press release is that Mount Royal owner Gary Cayce did more than sit by the phone waiting to hear from potential sellers; rather, he initiated a proactive M&A outreach campaign. This means he made the first move. He raised his hand, giving the signal that Mount Royal should be considered a possible suitor for owners who are thinking about transitioning from ownership.
NAPL was engaged to manage the communications outreach, and the principals will tell anyone who listens that NAPL's letter cut through the clutter and was well received by the folks at Jarboe. Right message at the right time from the right messenger.
The communications used in M&A outreach must be descriptive and focused. They should not be shotgunned. Narrow is better than broad. For Mount Royal, as an example, there were 5 responses out of 17 outbound communications. That is more than a 25% response rate. Jarboe was one of the five, and it went all the way.
A word of caution for those trying M&A outreach on their own: be careful to avoid sounding overly aggressive or overly eager. You really may want to consider having this kind of communication done by seasoned professionals.
Shameless sales pitch: the cost of M&A outreach for NAPL clients is quite modest and we do not charge brokerage fees. Don't hesitate to ask us for help so that you are doing proactive M&A outreach, rather than waiting for the phone to ring!
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