Buying a company opens up new opportunities, but also harbors dangers – especially when you take over and reorganize a troubled company. These 5 rules help to minimize risks.
Rule 1: Stay in your industry
The advantage of buying a troubled company: “The companies are then cheap,” says Professor Kai Lucks, President of the Federal Mergers & Acquisitions Association. In order to assess whether a renovation is worthwhile despite the low price, the first rule is: Potential buyers should concentrate on the industry they are familiar with, for example in order to be able to better compare business models.
“Takeovers often go wrong because the knowledge is simply missing,” says Lucks. Management consultants cannot fill the gap either. “Consulting firms can only be managed well if you have a good command of the topic yourself,” says Lucks.
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