M&A Science

Latest Episodes:

How to Break Into M&A: Lessons from Todd Manley Part 2 Jul 03, 2025

Show notes

Todd Manley, VP of Corporate Development Integration at Intel

In Part 2 of our conversation with Todd Manley, VP of Corporate Development Integration at Intel, we unpack how professionals from diverse backgrounds can successfully break into M&A and what it takes to build and maintain high-performing deal teams. Todd shares tactical advice on networking, career transitions, team dynamics, and leadership traits he looks for when hiring M&A talent. Whether you're early in your M&A career or looking to level up, this episode is packed with practical insights to help you navigate the world of dealmaking.

Things You Will Learn:

How to leverage networking inside and outside your company to break into M&A.
Key characteristics and behaviors Todd looks for when hiring successful M&A professionals.
Why being present and learning from your journey is critical to career growth in M&A.

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Sponsored by DealRoom—where M&A chaos meets its match. Your M&A process can so much faster... DealRoom helps corporate development teams take control—streamlining diligence, syncing integration, and eliminating the back-and-forth. 👉 Learn how you can run a repeatable, buyer-led process

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Episode Chapters:

[00:02:00] Teaching leadership frameworks and practical skills at Santa Clara University
[00:04:30] The power of intentional networking and early adoption of LinkedIn
[00:06:00] Rebuilding in-person connections post-COVID and the value of conferences
[00:07:00] Strategies for networking inside large organizations
[00:10:30] Maintaining and nurturing your professional network over time
[00:13:30] Building effective M&A teams and recognizing potential during interviews
[00:18:00] The importance of humility, ownership, and curiosity in M&A
[00:25:30] Translating customer experience skills to M&A opportunities
[00:28:00] Knowing when to lead and when to follow on M&A teams
[00:34:00] Defining success post-close and understanding cultural dynamics

Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

Build a Career in M&A: Lessons from Intel's Todd Manley Jun 30, 2025

Show notes

Todd Manley, VP of Corporate Development Integration at Intel

In this episode, Todd Manley joins Kison Patel to share his non-traditional path into the world of M&A. Starting his career in IT and organizational behavior, Todd brings a unique lens to integration and leadership in corporate development. From his early consulting days to overseeing integrations at Cisco, Symantec, and now Intel, Todd has seen it all. He opens up about what it really takes to thrive in M&A—from career pivots and networking to managing divestitures and leading with empathy.

This episode is packed with career insight, integration best practices, and practical leadership advice for anyone navigating—or trying to break into—the fast-paced world of M&A.

Things you will learn:

How to break into M&A without a finance or banking background
The critical leadership traits that matter in integration roles
Why networking and curiosity matter more than job titles

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💡Try FirmRoom for Free

This episode is sponsored by FirmRoom. The World's Most Intuitive Virtual Data Room With AI Contract Analysis No Per-Page Fees. No B.S. Just Smarter, Faster Deals.

Get started with your free trial today at firmroom.com!

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Episode Chapters

Intro & Background – [00:01:00]

First Career Steps in IT & Oracle Work – [00:05:00]

Early Passion for Startups & Joining WebEx – [00:06:30]

Getting into M&A via Cisco's Acquisition of WebEx – [00:08:30]

Integration Lessons from Cisco & Career Growth – [00:10:00]

Experience in Divestitures vs. Acquisitions – [00:14:30]

The Value of Empathy in Integration – [00:16:30]

Skills That Translate into M&A Success – [00:19:00]

How to Break into M&A & Structuring Career Moves – [00:22:30]

Why Leadership & Communication Are Non-Negotiable – [00:28:00]

Networking Tips, Playbooks, and Mentorship – [00:39:30]

Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

Buyer-Led vs. Seller-Led M&A with Matthew Person Jun 26, 2025

Show notes

Mathew Person, Senior Vice President of Corporate Development at Quikbase In this episode of the M&A Science Podcast, Kison Patel interviews Mathew Person, Senior Vice President of Corporate Development at Quickbase. Mathew brings a unique blend of operator, banker, and corp dev experience, making him a strategic leader in buyer-led M&A. Together, they dive deep into how to proactively structure acquisitions, align internal stakeholders, avoid over-rationalization, and ensure integration success.

Things You Will Learn:

How to design and align around a box of preference (quant + qual criteria)
Tactics for proactively sourcing and assessing cultural fit
How to structure your corp dev team for scale and deal velocity

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Episode Timestamps

[00:01:30] Mathew's unique background: sports operator, banker, corp dev

[00:03:30] Quickbase's carveout history and PE backing

[00:04:00] What buyer-led M&A means and why it matters

[00:05:00] Box of preference: building deal criteria with stakeholders

[00:07:30] Market mapping and capability-driven strategy

[00:09:30] Scorecards, deal screening, and qualitative diligence

[00:15:30] Identifying and quantifying culture fit

[00:19:30] Modeling dis-synergies and avoiding over-rationalization

[00:23:30] Structuring corp dev teams for stakeholder alignment

[00:30:00] Managing negotiations and bid-ask spread with trust

[00:33:30] The ROI of being known as a "good home"

[00:42:30] Integration success: same team from diligence to execution

[00:47:00] Culture as a deal breaker or driver

[00:52:30] Why stakeholder consensus is the hardest part of M&A

Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

From Loom to Trello: How Atlassian Scales Through Smart M&A with Sarah Hughes Jun 23, 2025

Show notes

Sarah Hughes, Head of Corporate Development and Product Partnerships, Atlassian

Uncover the inside workings of Atlassian's M&A strategy—from how Sarah's team sources deals and aligns with product to the importance of relationship-building and a structured, founder-first integration approach. With over seven years of experience leading corporate development at Atlassian, Sarah shares practical lessons on building strategic pipelines, cultivating founder trust, and operationalizing successful integrations across Atlassian's global portfolio

Things you will learn:

Building long-term relationships with founders, even years before deals happen
Aligning product, venture, and partnership decisions under one roof
Atlassian's approach to cultural diligence, integration planning, and transparency post-close

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💡Try FirmRoom for Free

This episode is sponsored by FirmRoom. The World's Most Intuitive Virtual Data Room With AI Contract Analysis No Per-Page Fees. No B.S. Just Smarter, Faster Deals.

Get started with your free trial today at firmroom.com!

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Episode Chapters

00:02:00 – Sarah's path into corporate development via Google and Atlassian
00:04:00 – Strategic rationale behind Trello and Loom acquisitions
00:07:00 – Atlassian's three M&A strategy pillars: roadmap accelerants, vacuums, and break-glass opportunities
00:09:00 – How corp dev aligns with product: push-pull strategy and joint roadmaps
00:12:30 – Centralizing M&A, ventures, and partnerships under one team
00:15:30 – Using AI to accelerate sourcing, market mapping, and diligence
00:19:00 – Loom case study: a 5-year founder relationship turned acquisition
00:25:00 – Creating co-authored vision docs to align on integration and success metrics
00:33:00 – How Atlassian handles cultural diligence and post-close attrition risk
00:36:00 – Atlassian's integration approach: open playbooks, IMO structure, and post-close planning
00:42:00 – Where AI is driving efficiency across the deal lifecycle
00:48:30 – Sarah's advice to corp dev leaders on sourcing, alignment, and outside-in perspective

Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

Building Trust in Acquisitions with Dan Pollock Jun 20, 2025

Show notes

Dan Pollock, Vice President of Corporate Development/M&A at SAM Companies

Dan shares how he built SAM Companies' M&A function from the ground up—executing over 30 deals and transforming M&A into a strategic growth engine. Backed by Peak Rock Capital, SAM Companies focuses on acquiring founder-led geospatial and infrastructure services businesses. Dan dives deep into how he balances disciplined diligence with relationship-first sourcing, how his team integrates small companies into a larger framework, and why culture and seller alignment matter as much as price.

Whether you're building out corp dev from scratch or refining your playbook, this conversation offers tactical insight into how to scale M&A the right way.

Things you will learn:

How to build an in-house M&A engine with a lean corp dev team How to source proprietary deals through trust and local relationships
How to structure earnouts and retention payments to align incentives

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Episode Chapters

00:03:00 – Dan's background: from audit to M&A leadership at SAM 00:05:00 – Building SAM's M&A muscle from the ground up 00:08:30 – Creating buy-in and accountability for integration success 00:10:00 – Getting the company ready to integrate acquisitions 00:11:00 – Sourcing: proprietary relationships vs. cold outreach 00:13:30 – Case study: renewable energy firm acquisition 00:15:00 – Thinking through revenue vs. cost synergies 00:16:30 – The psychology of earnouts and why they changed their approach 00:18:30 – How to open conversations with founder-led businesses 00:21:00 – Why founder retention is tied to valuation 00:24:00 – Turning relationships into actionable deals over time 00:29:00 – Competing with PE: how SAM positions better long-term fit 00:33:00 – Retention bonuses vs. earnouts: what's working better 00:39:00 – Why diligence and integration must run in parallel 00:41:30 – Managing team fatigue and repeatability with DealRoom 00:45:00 – Letting sellers speak with past acquired founders 00:47:00 – Private equity partnership governance at SAM 00:51:00 – Diligence red flags and small business surprises

Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

How Blackstone is Unlocking Lasting Value Across Private Equity with Viral Patel Jun 16, 2025

Show notes

Viral Patel, CEO of Blackstone Private Equity Strategies

Viral Patel unpacks how the firm is reshaping private equity for the next era. From launching new fund structures to leading thematic investments in sectors like electrification and AI infrastructure, Viral shares how Blackstone builds enduring value—and why alignment, data, and management fit are key to every deal. He also breaks down the cultural values that drive Blackstone's success and why individual investors are the future of private capital.

Things you will learn:

How Blackstone's investment philosophy is built on long-term secular trends
What makes a management team the right fit—and why talent diligence is critical
Why Blackstone created perpetual funds and how they work
How data, scale, and operating resources become a strategic advantage post-close

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💡Try FirmRoom for Free

This episode is sponsored by FirmRoom. The World's Most Intuitive Virtual Data Room With AI Contract Analysis No Per-Page Fees. No B.S. Just Smarter, Faster Deals.

Get started with your free trial today at firmroom.com!

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Episode Chapters

[00:01:00] Viral's 20-year journey across Blackstone's business units

[00:05:00] The cultural pillars that define Blackstone: excellence, integrity, and innovation

[00:13:00] Blackstone's thematic investment strategy and sector focus

[00:16:30] Evaluating management fit as a core part of diligence

[00:21:00] Value creation through Blackstone's operating team and functional specialists

[00:24:30] Using data science during diligence to build early trust with management

[00:27:00] Why Blackstone builds for the long term—not just for a quick exit

[00:32:00] The rise of perpetual fund models for individual investors

[00:36:00] Why private equity access is shifting beyond institutions

[00:44:00] Educating the market: how BXU and Blackstone's private wealth team bridge the knowledge gap

[00:46:30] Market cycles, public vs. private ownership, and the future of exit strategies

Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

M&A Lawyers vs. Bankers: What's Changed and What Still Matters with Rob Kindler Jun 12, 2025

Show notes

Rob Kindler, Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

In this episode of the M&A Science podcast, Kison Patel sits down with Rob Kindler, a uniquely positioned dealmaker whose career has spanned both sides of the M&A table—law and investment banking. Rob previously led global M&A at Morgan Stanley and is now a senior partner at Paul Weiss. With 44 years of experience, he's seen firsthand how the roles of lawyers and bankers have evolved, what makes a deal succeed or fail, and how today's regulatory, activist, and valuation pressures are reshaping M&A execution.

Things you will learn:

Why legal advisors are now the first call in M&A, not the last
How corporate development teams have replaced bankers in early-stage deal sourcing
Why regulatory strategy and shareholder approval planning can make or break a deal
How to negotiate effectively by predicting "the end of the movie"

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Episode Chapters

[00:01:00] Rob's career arc from lawyer to banker and back again

[00:04:30] Why Rob left law for investment banking in 2000

[00:06:00] How corporate dev teams changed the role of bankers

[00:11:30] Structuring deals to avoid shareholder approval pitfalls

[00:14:30] The rise of activism and merger arbitrage in public M&A

[00:16:00] How buyer-led M&A has transformed deal strategy

[00:22:30] Impact of regulatory regimes in U.S. vs. Europe

[00:27:00] Lessons in negotiation and predicting deal dynamics

[00:36:00] Why intrinsic value matters more than financial engineering

[00:48:30] What top CEOs understand about using M&A to drive strategy [00:51:00] How to spot a bad deal—and the red flags bankers sometimes ignore

[00:53:00] Rob's funniest moment: 300 pounds of turnips on a conference table

Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

CEO Growth Strategy: How Culligan Scaled 300+ Acquisitions with Scott Clawson Jun 09, 2025

Show notes

Scott Clawson, CEO of Culligan International

Scott Clawson turned Culligan from a legacy water treatment business into a $3.3 billion global platform operating in over 50 countries—powered by a programmatic M&A engine that has executed 300+ acquisitions. In this episode, he sits down with Kison to share exactly how that machine works.

From beachside inspiration to building a decentralized deal engine, Scott walks us through his journey scaling Culligan's strategy with support from capital partners like Advent and BDT MSD. He breaks down how to structure pipeline teams, create incentive systems that align corporate and local interests, and keep integration from becoming a bottleneck. If you want a real-world blueprint for high-volume, globally scaled M&A that doesn't break the business—this episode delivers.

Things you will learn:

How to build and scale a decentralized M&A engine across geographies
The critical role of strategic focus, pipeline ownership, and integration playbooks
Why cultural alignment and seller trust drive long-term M&A success
What to look for when choosing a private equity partner—and how they can unlock growth

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Episode Chapters

[03:00] – The Culligan turnaround story

[06:00] – Finding purpose and shifting strategy

[08:30] – How Culligan mapped its global market

[11:00] – Role of Advent and consulting partners in early strategy

[13:30] – Building the M&A engine: people, pipeline, and playbooks

[17:00] – Scaling programmatic M&A across 50+ countries

[25:00] – Structuring the M&A org and decentralized execution

[29:00] – Building seller trust and sourcing proprietary deals

[33:00] – How Culligan stays buyer-led at scale

[38:00] – The role of the Head of Corp Dev in a programmatic model

[41:00] – Choosing the right PE partner: Advent vs. BDT MSD

[48:00] – The risk of overrelying on synergies and underinvesting in capability

[51:00] – Advice for CEOs building a repeatable M&A model Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

Fixing Broken Companies Through Smart Deals with Marc Bell Part 2 Jun 05, 2025

Show notes

Marc Bell, CEO of Marc Bell Capital

Marc Bell has taken 17 companies public, rebuilt distressed businesses, and invested across industries most wouldn't dare touch. In this follow-up to Part 1, he's back with sharp insights on what it really takes to run high-stakes deals—and survive them.

Marc and Kison cover everything from building a rock-solid diligence process to choosing between private equity and private credit. They get tactical about capital allocation strategy, reflect on the mistakes that shaped Marc's approach today, and unpack how to lead during downturns—when optimism fades and character shows.

This episode is a masterclass in M&A realism. Whether you're planning your first minority recap or running a mature corp dev team, you'll walk away with fresh perspective—and a few war stories that'll stick with you.

Things you will learn:

The tradeoffs between debt and equity—and when to choose either
Why the wrong private equity partner can cost more than capital
How to lead through setbacks and build people-first organizations

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Episode Chapters

03:00 – How to run smarter diligence
04:30 – Building the business case
06:30 – Avoiding deal surprises
07:00 – Culture as a value lever
09:30 – Capital allocation 101
11:30 – Vetting PE partners
15:30 – Why Marc avoids public markets
18:30 – Structuring around IRR and risk
20:30 – Real estate timing and opportunity
22:00 – Leading through failure
24:00 – Solving real problems with hospitality
25:30 – The cost of bad partners

Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

Fixing Broken Companies Through Smart Deals with Marc Bell Jun 02, 2025

Show notes

Marc Bell, CEO of Marc Bell Capital

Marc Bell is a self-described "deal junkie" who's built an empire across internet infrastructure, real estate, entertainment, defense, and private equity. In this episode, Marc breaks down his unconventional path—from turning around Penthouse into a $500M acquisition engine, to producing Tony Award-winning Broadway shows, to backing national security tech ventures and building satellites.

Marc shares the playbook he's refined over decades: how to spot a distressed asset worth saving, why structure and cash flow trump hype, and how to create value by backing the right people and thinking creatively about capital. Whether you're a corporate acquirer or an entrepreneur with a nose for opportunity, this is a masterclass in pragmatic, performance-driven dealmaking.

Things you will learn:

How to spot and structure deals for distressed or undervalued businesses
Why betting on the right operator ("the jockey") is more important than the business model
The importance of supply chain control and cash flow in strategic execution
Creative approaches to capital structure, seller financing, and aligning incentives

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Sponsored by DealRoom—where M&A chaos meets its match. Still stuck in spreadsheet hell? DealRoom helps corporate development teams take control—streamlining diligence, syncing integration, and eliminating the back-and-forth. 👉 Learn how you can run a repeatable, buyer-led process ___________ Join Kison at the DealMakers Forum in New York City! This event connects the most active players in M&A and corporate finance. Meet top M&A executives, investors, and deal advisors and discover how senior leaders structure and close high-value deals. Register Today! ________________________

Episode Chapters

[00:01:00] Early Career & First Exit [00:03:00] Buying Penthouse out of Bankruptcy [00:04:30] Leveraging SPACs to Launch a Mortgage REIT [00:05:30] Producing Broadway Hits [00:06:30] Owning Real Estate to Control Operations [00:08:00] Entrepreneurial Mindset & Real Estate Arbitrage [00:10:00] What Marc Looks for in New Ventures [00:11:00] Case Study: Turning Around a Watch Brand [00:13:00] Capital Structure Strategy [00:15:00] Avoiding Overvaluation & Managing Risk [00:18:00] Betting on the Jockey [00:26:00] Incentive Alignment in Operations

Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

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