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
Stage 011. Contactedview list
22
Stage 022. Engagedview list
12
Stage 033. NDA Stageview list
12
Stage 044. Reviewing IMview list
12
Stage 055. Post IM Call / Meetingview list
7
Stage 066. Management Meetingview list
5
Stage 077. Offers Receivedview list
1
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
Stage 011. Contactedview list
39
Stage 022. Engagedview list
9
Stage 033. NDA Stageview list
9
Stage 044. Reviewing IMview list
9
Stage 055. Post IM Call / Meetingview list
4
Stage 066. Management Meetingview list
3
Stage 077. Offers Receivedview list
1
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. Same 8-stage framework throughout. 2 offers accepted.
171
Total approaches
P182  P289
21
NDA signed
P112  P29
11
Mgmt meetings
P17  P24
8
Offers received
P15  P23
100%
36%
12%
12%
12%
6%
5%
1%
171
Stage 011. Contactedview list
61
Stage 022. Engagedview list
21
Stage 033. NDA Stageview list
21
Stage 044. Reviewing IMview list
21
Stage 055. Post IM Call / Meetingview list
11
Stage 066. Management Meetingview list
8
Stage 077. Offers Receivedview list
2
Stage 088. Offer Acceptedview detail
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
Phase 1 volume
Phase 2 volume (net-new)
Phase 2 revisits
Offers accepted
↵ Revisit badge in modal = re-approached from Phase 1