Mergers and Acquisitions Playbook: Lessons from the Middle-Market Trenches

Jim Collins, in Good to Great, searched for those qualities that differentiated the average company from the true standouts. While the long-term performance results of the best companies are available to all, the means by which those ends were achieved were far more subtle. And so it is with Playbook. Although billed as a how-to manual, on a subtle but powerful level it is an unintentional autobiographical account of how the author achieved greatness as a mergers and acquisitions specialist. Those who have watched Mark perform his magic over the years have witnessed those traits for which greatness was the unanticipated byproduct. Beyond his intellectual brilliance, Mark possesses two relatively uncommon virtues, particularly when they appear in tandem. First, his tenacity is legendary. It becomes doubly powerful when one's overarching motivation is to further the interests of his client. Playbook in its own right is a powerful tool; executed by anyone with Mark's intellect and temperament it is dynamite.

This is a pretty pricey book, but it's the best end-to-end commentary on M&A that I've ever read. It really covers the gambit of transaction scenarios and stages, including deal structure, bid strategy, stakeholder management, and a lot more. It leaves you with plenty to think and talk about. It is also a very accessible read, for someone who hasn't spent a lot of time in that business, it's written as a door-opener. Filippell adds a lot of flavor with his first hand stories and I really liked how he discussed the human side of these business transactions.

I was looking for a book to get an introductory view of M&A and this book served its purpose in providing a broad overview of the process and some general tips. It was not a technical guide and was very enjoyable to read. This book probably would not be great for someone who is already in the M&A field or has a few transactions under their belt, but it is a great starting point. Thanks.