Learning From Acquisitions That Fall Apart

Bomb

John McCann sold The Bolt Supply House to Lawson Products (NASDAQ: LAWS) at the end of 2017. McCann’s strategy involved learning from the acquirers who knocked on his door. He invited would-be buyers into The Bolt Supply House and listened to what they had to say. He was not committed to selling, but instead wanted to know what they liked and what concerned them about his company. One giant European conglomerate, for example, approached McCann about selling, but after a thorough evaluation, they backed out of a deal, worried about McCann’s central distribution system. McCann thanked them for their time … Read more