Ep. 13 | Flipping the Script: From Strategic Buyer to Family Office Acquisition

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Are you prepared for the moment your internal succession plan meets the reality of a “missing generation” in leadership?

In this episode of AEC Unscripted: M&A Edition, host Jeff Adams, Director of M&A at Stambaugh Ness, is joined by Frank Ternasky and Mike Asaro, former principals of the San Diego-based architecture firm Delawie. 

After years of operating as strategic buyers themselves, Frank and Mike share the transparent story of why they pivoted to an external sale. We dive deep into their decision to partner with Hennick & Company —a family office— and Leo A Daly, exploring why this unique model provided the cultural alignment and “long-run” stability that traditional private equity could not. 

Listen to learn: 

• How being an acquirer prepared them for their own immaculate due diligence (and why “there was no pea” to find).
• The Family Office difference and why a less “heavy-handed” investment model was the key to preserving a 60-year design legacy. 
• The strategic reasoning behind The Power of the Pause —hitting the “pause button” on a deal when business growth outpaces valuation. 
• Why the “beer test” and cultural fit remain the ultimate deal-breakers, regardless of the financial offer. 
• Insights from the first 100 days of integration and the value of a “best practice” conversation over a forced transition.

 Join us as we explore M&A, unlock growth potential, and achieve deal success. 

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