Most GPs underestimate the time and complexity behind M&A execution, even when the target is known and internal alignment is clear. Diligence, negotiation, governance, and legal friction all take time—and they rarely compress the way founders and deal teams hope. Transactions announced in Q4 are often those quietly initiated in Q2 or well-advanced by September.
For platforms where you’re still considering strategic combinations, the message is clear: the time to act is now.
1. Strategic Clarity Beats Opportunism
In this market, strong buyers and sellers are those with clarity. As valuations normalize and investor scrutiny increases, last-minute opportunism has largely given way to structured, stage-gated execution. The best-run processes don’t just present numbers—they present conviction. Whether you’re prepping a divestiture or evaluating a tuck-in, a 4–6 month lead time is now the baseline.
2. Sophisticated Buyers Are Back
Strategics, secondaries platforms, and crossover investors are returning to the table. They’re selective, but they’re buying. The bar is higher—buyers want product-level clarity, defendable margin structure, scalable tech, and well-incentivized teams. But for assets that check those boxes, liquidity is available. Particularly in vertical software, fintech infrastructure, compliance tooling, and anything mission-critical to end customers.
3. Buy-and-Build Is Alive—But Only for the Prepared
If you’re leading a consolidation play, don’t wait until Q4 to brief bankers or legal. The time to prepare is now. September is a peak period for founder responsiveness. There is a limited window to originate bilateral conversations before processes become competitive. Use August to fine-tune messaging, streamline IC governance, and line up execution muscle.
Final Thought
There’s dry powder on the buyside—but not for those who show up late or unprepared. If a sale, acquisition, or structured secondary is on the table for one of your portfolio companies, get in motion now. Your actions in August shape your outcomes in December.
Happy to explore specific situations or playbooks when you’re back. In the meantime, enjoy the break.
About Imagine Capital Group
Imagine Capital Group advises private equity firms, portfolio companies, and financial institutions on strategic execution, value creation, and transformation. We support operating partners, CIOs, and change leaders in optimizing executive structures and driving measurable outcomes.
To discuss M&A, organizational models, leadership structures, or transformation governance, contact us directly.
Tom C. Schapira
Founder and CEO
Imagine Capital Group
E: tom@imaginecapitalgroup.com
Website http://www.imaginecapitalgroup.com
