This BOL’Discussions session offered a candid, experience-driven look at mergers and acquisitions within the lighting industry, emphasizing that successful transitions are built far more on people, culture, and clarity of intent than on deal mechanics alone. Panelists framed M&A not as an end-of-career event, but as a long-term strategic process—often beginning the day a firm is founded.

A central theme was preparation. Speakers stressed the importance of understanding personal, financial, and organizational readiness before entering any transaction. This includes knowing what you want from the outcome—growth, continuity, legacy, future-proofing, or exit—and being honest about your willingness to relinquish control. Without this self-awareness, even well-structured deals can falter.

Culture emerged as a defining success factor. Alignment around values, leadership style, decision-making, and vision (“the North Star”) was consistently prioritized over firm size or financial upside. Panelists noted that cultural incompatibility, unmanaged ego, or mismatched expectations are among the most common reasons M&A efforts fail.

The discussion also highlighted the importance of early, transparent communication—internally and externally. Tiered messaging to staff, clear explanations of the “why,” and personal outreach to key clients help preserve trust and reduce uncertainty. Clients, panelists agreed, care less about ownership changes and more about continuity, capability, and expanded value.

From a practical standpoint, the session covered deal structures (asset vs. stock purchases), due diligence, insurance considerations (including tail/wrap coverage), and the need for experienced advisors who understand the AEC industry. The panel concluded with a shared reminder: the best deals are often slow, intentional, and human-centered—designed not just to close, but to endure.