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 consolidated under a...

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 leadership.    For...

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 decades of work....