Beyond the Deal: Smarter M&A Starts Here

Whether you’re considering an acquisition or selling your company, M&A decisions are complex and impactful. These transactions carry not only financial implications, but also operational and emotional ones, especially for owner-led businesses.

Dr. Benedikt Kloss is Managing Director at DIA Invest, a firm that advises on (partial) exits, M&A transactions, succession, and growth financing mainly in the DACH region, but also across Europe and beyond. Before joining DIA, he served as an Associate Partner at McKinsey & Company, where he advised C-level executives of major corporations, professional investors, and startup founders on strategy, innovation, and corporate transactions. In this article, he shares practical insights for M&A professionals for the sell-side and buy-side alike, along with how digital platforms like Dealsuite support more efficient dealflow and better outcomes.

Key advice for preparing the sell-side

“A successful sale starts long before you open a data room,” says Kloss. “It begins when owners ask themselves: what does a good future for my company look like, and what role do I want to play in it?”

That kind of clarity is what separates rushed sales from well-executed transitions. Sellers often face recurring challenges such as unrealistic valuations, vague criteria for their ideal buyer, and inadequate preparation of their financials and corporate governance.

One of the most important areas to address is financial readiness. Clean, up-to-date reporting not only builds trust but also accelerates diligence. “A well-prepared quality of earnings report speaks volumes,” says Kloss. “It shows the seller take the process seriously, and it helps buyers gain confidence and clarity quickly.”

Just as critical is defining the type of buyer that would be a good fit. Does the seller want to stay on in a minority role, or are they looking for a clean break? Do they prioritize cultural alignment or maximum price? Are they looking for an institutional investor or a strategic partner?

Kloss also cautions against overly complicated messaging. “Every professional investor sees dozens of pitch decks a week. Your seller’s story needs to be concise, easy to understand, and focused on the core value drivers. What problem do they solve? What makes them different? Who are their customers and why do they stay with them?”

Beyond that, the seller planning for their own future is essential. A transaction, especially an acquisition, can take up to six months or even longer, and the post-sale reality may look very different from what owners imagined. “Selling a business is also a personal journey,” Kloss says. “It’s important the seller understands their goals and limitations on both an emotional and financial level to ensure long-term satisfaction.”

Key advice for connecting with the buy-side

To reach the right pool of buyers, Dr. Kloss emphasizes that successful M&A is less about casting a wide net and more about making the right connections, with the right message. “We sometimes see advisors reaching out cold to hundreds of potential investors with a generic deck,” he says. “That almost never works. Precision is more effective than mass outreach.”

But on the other hand, your own personal network, however strong it may be, is still limited. Therefore, a better approach is to combine precise outreach strategy with the right tools to scale your search. As Kloss puts it, “Your personal network cannot be infinite.” According to him, platforms like Dealsuite allow M&A professionals and buyers to broaden the top of the funnel while still filtering for fit, leading to both relevant deal opportunities and new relationships that can be valuable in the long term.

Clear messaging is key. “Upload a two-page executive summary, not a 30-page pitch deck,” he advises. “Investors want clarity, not complexity. You have to make it easy for them to get interested. If they reach out, you’ve already accomplished the most important first step.”

Kloss also highlights the importance of expertise, both in the industry and in running a professional process. “Our clients usually know their market,” he says. “But where we bring value is in knowing how to manage the M&A journey end to end. That professionalism opens doors.”

One of the most overlooked factors in successful transactions may be the quality of the advisory relationship itself. “The average M&A advisor is a service provider. They do what the client tells them,” Kloss explains. “But an excellent advisor is a thought partner. We bring our experience to challenge the client’s thinking, on strategy, positioning, storytelling, market analysis, business planning, even how they present their product.”

Strategy, partnerships, and the right tools

Whether you’re acquiring or selling a business, success in M&A depends on much more than financials. It’s about getting your messages across, making meaningful connections, and having trusted partners who bring clarity, challenge assumptions, and drive the process forward.

For Kloss, platforms like Dealsuite are a valuable part of that toolkit. “Dealsuite is instrumental in helping broaden our network, identify the right counterparties, and spark new conversations,” he says. But no tool completely replaces the need for strategic preparation. His final advice: “Start early, think deeply, and work with people who don’t just follow instructions, but actually challenge you and make you better.”

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