What Do Buyers Want? Agency Futures Knows the Answer
Doug Baxter, managing partner at Agency Futures, is no stranger to facilitating agency transactions and finding joy in the intricacies of the process. One particular transaction he handled last year took a whopping 1425 hours to complete, a testament to the complexity of bringing global buyers and sellers together in the agency world.
Recently, Doug helped the Boundless Life Sciences Group, a medical marketing firm, to find and acquire Fuse Medical in a move that promises mutual benefits for both parties. Doug recognised Fuse medical as the perfect fit for Boundless, “they bring expertise in medical education, practitioner consulting, sales-enablement, and strategic planning for pharmaceutical brands services and this high-level consulting was exactly the gap that Boundless was seeking to close”
This strategic merger exemplifies Agency Futures' empathetic approach to M&A by fusing two entities to create a stronger whole. “While financial considerations are vital, cultural alignment remains a key factor.”
Finding a cultural fit
Kerry Hilton, partner and CEO of the Boundless Group, concurs: “When it comes to an acquisition, the number one thing I’m looking for is a cultural fit. Buying a company is so much more than a numbers play, it’s about making sure that two different groups can come together with a like-minded approach to like-minded goals. And let’s make sure we’re having fun along the way.”
Fuse Medical’s culture of scientific rigour and discipline are an incredibly attractive feature for the Boundless Group, giving Boundless the ability to bring even more value to their clients after the acquisition.
Doug also highlights the significant advantages of this deal, “Fuse Medical's reputation and experience in the highly regulated Canadian market can be leveraged to create new opportunities and to navigate the vastly larger US market.”
Transactions, especially in highly regulated spaces, are tricky beasts. Having the right partner in the process is then essential to making them happen. “Imagine going shopping for a new suit and your partner doesn’t even know what size coat you wear. Or they don’t understand what you’re trying to achieve with your new ensemble. The right partner should know you well enough to help you make good choices. To guide you gently through the process so that you don’t end up with a bad wrong fitting,” Kerry muses.
On choosing to partner with Agency Futures, Kerry adds: “I chose Agency Futures because Doug spent the time to get to know me and my agency. There was a lot of dialogue between us about our short-term and long-term goals. Doug always made himself available to jump on a quick call and always had ideas to share. Agency Futures is very well connected with the global agency network and their process to meet and explore relationships is simple.”
Returning back to the notion of ‘empathetic M&A’, Doug sees his role as helping transactions stay on track when they can “very, very easily veer off.” He continues: “It’s a lot of work to get it done but if you don’t like the hassle, don’t get involved in this business! Like many at Agency Futures, I’m a former owner who loves what agencies do, loves hearing agency stories, and helping agencies to write the next chapters in their business futures.”
“Agency Futures was great at listening and understanding our search goals - never pushy and very patient through the courting process,” Kerry adds.
In the complex world of agency acquisition, partnering with experts who think beyond ‘good on paper’ to consider culture and the future health of the merging businesses should be at the top of every buyers’ list.
