Our Approach

Every deal, whether viewed from the “buy-side” or “sell-side”, requires detailed and target specific analysis, conducted by seasoned professionals who know their industry, and executed efficiently, with integrity and delivered on time.

Although experience dictates that our services include a number of “standard” products, our approach is not formulaic.

We pride ourselves on our flexibility. Especially on the “buy side”, acquisition situations evolve rapidly, and knowledge and understanding of the target company accumulates fast: so we maintain a close dialogue with our clients and are constantly adjusting our work programme.

We “start with the end in mind”. Cogency begins with an understanding of the potential exit, and then seeks to confirm that the commercial positioning of the investment is both “bankable” and has the capacity to generate an “angle” which supports a profitable exit for the investor

Our focus is on answering the most difficult questions that our clients pose – the ones that fundamentally underpin the decision of whether to proceed with a deal, e.g.:

  • Is that really the way it works?
  • Why does it happen like that? And must it happen like that – or are there other, better ways?
  • Is the business sustainable? What could go wrong or derail its plans that has been overlooked or conveniently forgotten by the vendors? What other external factors might impact the business?
  • Does the whole represent a credible story/strategy/proposition/explanation? Do those opportunities genuinely exist – or are they just wishful thinking?
  • If it is acquired, how difficult will it be to realise those synergies? How long might it take? How much resource will be required? What could go wrong?

In the course of our work, we conduct intensive research on target companies, their markets, customers, suppliers, and competitors. We also provide critical analysis of raw data, highlighting and explaining issues likely to underpin either the success or failure of the investment, acquisition or disposal. However we undertake neither classic “clipboard interview” market research, nor “data mining”.

Our services are complementary to, and not competing with, the strengths and goals of our clients and partners. We add value by bringing insight, understanding, interpretation, explanation and true expertise.