The keys to a successful transition when acquiring a new company are: relationship with the vendor, planning and communication. Retain a positive and cooperative relationship with the vendor. The support and assistance of the vendor prior to and post-sale are critical to the success of the acquisition. Write a transition plan of action, including a detailed action plan for the physical relocation of plant and equipment, an HR plan for new and existing staff members, a financial plan with a sales and profit contribution budget for the new business, and a marketing plan with promotional activity to promote the new business. 

Peter Johnston, owner, Lorimier

Ensure that the parties concerned are compatible in most facets, not only in business but in outlook and lifestyle. One needs to experience how the other party runs their business. To do this, it is advisable to contract work out to each other to see and measure how each performs. Meet senior management from the other company and determine what their personalities are like. Whoever is moving to other premises, ensure they are warmly welcomed. Ensure lines of reporting are formalised prior to moving and are articulated to staff. Hand out to all staff a brief of the other firm and explain why the merger is important to them as individuals as well as benefits to the new entity.

David Shandler, director, Troedel-Docucopy

I feel the most important points in a merger or acquisition are to trust your own gut feelings of the company you are proposing to merge with, and to do your own due diligence. Review all documents and reports yourself and ensure you are satisfied with the information received. Also ensure that the staff of both companies share the same goals and the future vision of the business as yourself. Be able to demonstrate the financial rewards to all business partners and employees.

Fred Humphrey, managing director, Direct Mail & Marketing

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