Commercial assessment
Examine market position, customer concentration and the assumptions behind revenue and growth. Review the operating capabilities that support the commercial case and make information gaps explicit.
Transactions & integration
Examine the commercial assumptions behind an acquisition or joint venture and the work required after completion.
A deal may depend on access to customers, a new capability or savings from combining operations. Dune tests those assumptions against the available market and business evidence, then examines how the proposed combination would operate.
- How durable are the target’s customer relationships?
- Which earnings are available on a standalone basis?
- What has to change for the proposed synergies to occur?
- Which activities should remain separate after completion?
- What requires attention before the first day of combined operation?
Buying the business and combining the operations are different tasks.
Integration choices
Compare the value of combining activities with the cost and disruption involved. Test each synergy against the action required to achieve it, including dependencies and risks to customer service or essential capabilities.
Completion and subsequent performance
Set integration priorities, responsibilities and the timing of major approvals. Where an investment is already held, compare actual performance with the acquisition case and identify corrective work.
Diligence and integration outputs
A commercial assessment and integration plan tied to the assumptions behind the transaction. This work complements the legal, financial and tax due diligence carried out by the relevant specialists.
Information to bring
The investment thesis, target information and transaction timetable establish what can be examined before signing. Include the proposed synergies and any restrictions on access to commercial information.
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