Maverick Finance LLP
Confidential · M&A Advisory
Maverick Finance · Sell-side M&A · Project Aegis · Phase 1 · Phase 1
Go-to-market waterfall
82 buyers targeted across 8 stages through to 1 accepted offer.
82
Targeted
12
NDA signed
7
Mgmt mtgs
5
Offers rec'd
1
Offer Accepted
100%
27%
15%
15%
15%
9%
6%
1%
82
22
12
12
12
7
5
1
Stage 011. Contactedview list
Stage 022. Engagedview list
Stage 033. NDA Stageview list
Stage 044. Reviewing IMview list
Stage 055. Post IM Call / Meetingview list
Stage 066. Management Meetingview list
Stage 077. Offers Receivedview list
Stage 088. Offer Acceptedview detail
Preparation
Teaser and data room
Outreach
82 buyers contacted
NDA and IM
12 NDAs executed
Mgmt meetings
7 meetings held
Offers
5 received
1 Offer Accepted
Preferred buyer confirmed
+
Declined data
60
Declined
Early stage; pre-NDA
Why buyers passed
Strategic fit
Products
Timing
Commercial
Other
Strategic buyer
Financial / PE buyer
Maverick Finance · Sell-side M&A · Project Aegis · Phase 2
Go-to-market waterfall
89 total approaches — 79 net-new buyers plus 10 revisited from Phase 1. Process active; 3 offers received.
↵ 10 revisited targets from Phase 1 included in this universe
89
Approached
79
Net-new
9
NDA signed
4
Mgmt mtgs
3
Offers rec'd
1
Offer Accepted
100%
44%
10%
10%
10%
4%
3%
1%
89
39
9
9
9
4
3
1
Stage 011. Contactedview list
Stage 022. Engagedview list
Stage 033. NDA Stageview list
Stage 044. Reviewing IMview list
Stage 055. Post IM Call / Meetingview list
Stage 066. Management Meetingview list
Stage 077. Offers Receivedview list
Stage 088. Offer Acceptedview detail
Preparation
Teaser and data room
Outreach
89 buyers contacted
NDA and IM
9 NDAs executed
Mgmt meetings
4 meetings held
Offers
3 received
1 Offer Accepted
Preferred buyer confirmed
+
Declined data
50
Declined
Early stage; pre-NDA
Why buyers passed
Strategic fit
Products
Timing
Commercial
Other
Strategic buyer
Financial / PE buyer
↵ Revisit = re-approached from Phase 1
Maverick Finance · Sell-side M&A · Project Aegis · Full process
Consolidated buyer outreach
171 total approaches across Phase 1 and Phase 2 — 165 unique companies. 2 offers accepted.
171
Total approaches
P182  P289
21
NDA signed
P112  P29
11
Mgmt meetings
P17  P24
8
Offers received
P15  P23
View by
100%
36%
12%
12%
12%
6%
5%
1%
171
61
21
21
21
11
8
2
Stage 011. Contactedview list
Stage 022. Engagedview list
Stage 033. NDA Stageview list
Stage 044. Reviewing IMview list
Stage 055. Post IM Call / Meetingview list
Stage 066. Management Meetingview list
Stage 077. Offers Receivedview list
Stage 088. Offer Acceptedview detail
Stage 099. Declinedview list
Phase 1 volume
Phase 2 volume (net-new)
Phase 2 revisits
Offers accepted
Phase 1 launch
82 buyers contacted
P1 NDA and IM
12 NDAs executed
P1 offer accepted
Preferred buyer confirmed
Phase 2 launch
89 approached; 10 revisits
P2 NDA and IM
9 NDAs executed
P2 offer accepted
Preferred buyer confirmed
+
Declined data
110
Declined; both phases
64% of all 171 approaches
Combined decline reasons
Strategic fit
Products
Timing
Location
Commercial
Other