Every M&A transaction has its challenges. But some deals, like Cobra’s strategic investment from Alterra Capital Partners, demand an extra layer of technical precision and strategic guidance. Behind the headlines of a successful close lies months of careful planning where structuring, regulatory navigation and risk management all play a decisive role.    Structuring for Success     In Cobra’s case, the deal could not proceed until three separate operating entities were consol

Every entrepreneur understands what it takes to build a business. The focus, resilience and countless decisions made along the way. Yet few are truly prepared for what it feels like to step away.    When DLI advised on the recent Cobra–Alterra transaction, the financial and strategic dimensions were clear. But like many founder-led deals, it also carried an emotional layer. The reality of seeing a business continue under new ownership after years of personal investment and le

One critical insight from each deal that demonstrated how we think about exits. Eight deals closed. Approximately R1 billion in transaction value. One year that showcased exactly how we deploy our playbook across radically different situations. The business press won’t publish these stories. Most M&A advisors won’t share them. But buried in each of these eight transactions is a demonstration of how advanced M&A strategy actually works when you know what you’re doing. I’m not

Exits are not only about numbers on a balance sheet. They are about people, legacies and how businesses evolve through change. One of the most complex moments in that journey is handing over the reins of leadership while preserving what made the business valuable in the first place.    For our client, Cobra Group, succession was central to its success story.    A Founder’s Maturity     Cobra’s founder had built the company from the ground up, holding a 70% shareholding after

If you’re in private equity, you know better than anyone that a great exit can make or break a fund. Selling well is part of your DNA. Yet even the best teams can find themselves stretched thin and watching value leak long before the sale.   It’s not intent. It’s bandwidth.   The Bandwidth Problem   You’re managing pressure from every direction. LPs expecting returns, management teams needing guidance and new deals demanding attention. Between capital raises, portfolio oversi

We recently facilitated the successful sale of a specialist South African manufacturing business in the commercial kitchen and...