Will 2025 be another bumper year for bolt-on acquisitions? 

Back in July 2024, I published an article on due diligence for bolt-on acquisitions and the shift needed in emphasis and prioritisation versus buyside CDD on platform deals.  

In 2024, there was a large volume of bolt-ons in the built environment and industrials sectors as companies acquired tech to enhance capabilities and the highly fragmented nature of the sub sectors. I expect to see more of the same in 2025. 

Above are some of the bolt-on acquisitions we’ve provided due diligence on recently and here’s what we learned: 

  • Flexibility in CDD – rather than rigid scopes – is the best approach for bolt-on acquisitions, where internal data may be limited, and the acquiring management team likely already has a good feel for the market. 
  • The cornerstone of successful bolt-on CDD is customer referencing. It is only in rare cases where this should not form part of a scope of work. 
  • Market analysis is best focused on specifics (e.g. specific regulatory change, specific sector analysis etc.), rather than giving a broadbrush assessment of the market size and drivers. 

Speak to a member of the team about how to structure CDD for bolt-on acquisitions, and how we can help. 

Matt McNally

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