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How to manage a PR agency acquisition in Germany – help

Written by Paul Stallard

Linked to my top five tips on how to manage the acquisition of a PR agency in Germany listed in a recentĀ post.

Choose advisors carefully

Especially accountants and solicitors. I chose the accountant that was recommended to me by our UK accountant. I trusted that they had done their due diligence and they would be solid.

Unfortunately though, this was not the case. With hindsight I should have met with and spoken to at least another two. I should have checked that we were getting the right price, that they had worked with an agency such as ours before, and understood what we wanted. The partner I chose was experienced in deals far larger than ours and struggled to offer the appropriate level of support when I wanted to understand the process. They subsequently presumed too much.

Since completing the deal I have found a far better partner for our size of business based upon a recommendation and a series of meetings. I wish I had been more thorough and found them in January.