Shows / Deal Alchemist
Deal Alchemist
Deal Alchemist turns complex mergers and acquisitions into simple stories you can use. Each week, two hosts break down one real deal in plain English: what happened, why it happened, how it was done, and what changed after. We cover the facts, the strategy, the structure, the risks, and the early results—so operators, students, and investors can learn fast. You'll hear clear takeaways like: buy for a reason, price with discipline, and integrate to value. No jargon. No fluff. Just a deep dive…
Episodes
Deal AlchemistAramark and Avendra: Did the $40 Million in Procurement Savings Show Up?
In 2017, Aramark paid $1.35 billion for Avendra, a hotel buying group founded by Marriott, Hyatt, Fairmont, ClubCorp and IHG. Aramark promised about $40…
Deal AlchemistHome Depot and SRS Distribution: How Private Equity Built an $18.25 Billion Exit
In 2024, The Home Depot paid about $18.25 billion for SRS Distribution, a roofing, landscape and pool supplier that three private equity owners built through…
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Thoma Bravo and Anaplan: The $105 Million Clause That Repriced a $10.7 Billion Deal
In March 2022, Thoma Bravo agreed to take Anaplan private for $66.00 a share in cash, about $10.7 billion. Ninety-four days later, the deal closed at $63.75 a…
Deal AlchemistWhy Bain Paid a Premium for a Company That Owns No Software
HSO does not own the software it sells. Microsoft does. HSO installs it, connects it and keeps it running for more than 1,400 customers in over 30 countries…
Deal AlchemistBroadcom and VMware: The $69 Billion Integration That Worked, at a Cost
Most acquisitions fail because the buyer moves too slowly. Broadcom did the opposite. It closed its roughly $69 billion acquisition of VMware in November 2023…
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How Walgreens' Doctor Bet Ended in a $15.4 Billion Write-Down
Walgreens wanted its pharmacies to become the front door of American healthcare. It ended with $15.4 billion of gross write-downs and a private equity breakup…
Deal AlchemistForward Air Hit Its Synergy Target and Still Lost 86% of Its Value
Forward Air delivered the cost synergies it promised. Its shareholders still lost roughly 86% of their value. In this episode of Deal Alchemist, Xpertegic…
Deal AlchemistApollo's Emerald–Questex Deal: Which Operating Model Wins?
In this episode of Deal Alchemist, Xpertegic Partners breaks down Apollo Global Management's simultaneous acquisition of Emerald Holding and Questex, and what…
Deal AlchemistWhy Carrier Paid $13 Billion for Viessmann Just as Europe's Heat Pump Market Cracked
Carrier acquired Viessmann Climate Solutions for €12 billion to become a pure-play climate company and gain access to 75,000 European installers. Then…
Deal AlchemistWhy NVIDIA Acquired Mellanox for $7.1 Billion Before the AI Boom
NVIDIA acquired Mellanox for $7.1 billion before the AI boom made high-speed networking critical infrastructure. In this episode of Deal Alchemist, we unpack…
Deal AlchemistDream Finders Chased Beazer for Six Months. Then It Landed a $2.2 Billion Deal
Dream Finders Homes spent six months pursuing Beazer Homes before reaching a $2.2 billion all-cash deal—and the real opportunity goes beyond building more…
Deal AlchemistSalesforce Paid $27.7 Billion for Slack. The Real Payoff May Be AI
Salesforce paid $27.7 billion for Slack at the height of the SaaS boom. Five years later, the deal looks very different. When Salesforce announced the…
Deal AlchemistUber's $2.25 Billion Transplace Acquisition Reinvented Uber Freight
Uber Freight wasn't failing because it lacked technology. It was failing because it lacked enterprise relationships. In this episode of Deal Alchemist, we…
Deal AlchemistThe $17 Billion Tech Play for Blue-Collar Labor
What if the biggest risk in a $17 billion acquisition was not financing the deal, but integrating thousands of branches, systems, and skilled workers without…
Deal AlchemistThe Pest Control Roll-Up That Became an Integration Test
What if the hardest part of a $6.7 billion acquisition was not getting the deal signed, but changing the route sheet, branch software, pay plans, and daily…
Deal AlchemistHow Netflix Paid $686 Million for Roald Dahl and Built an IP Empire
In September 2021, Netflix secured a foundational asset for the streaming wars by acquiring the Roald Dahl Story Company (RDSC) for over $686 million (more…
Deal AlchemistWarnerMedia × Discovery: Inside the $65.3B Merger and Its Fallout
A deep dive into one of the most dramatic corporate sagas in modern media. We break down AT&T's failed $85B Time Warner bet, the $65.3B WarnerMedia–Discovery…
Deal AlchemistAmazon + Whole Foods: The $13.7B Deal That Redefined Retail
In 2017, Amazon stunned Wall Street and Main Street with its $13.7 billion acquisition of Whole Foods Market. More than just a grocery buy, this move became a…
Deal AlchemistDisney Buys 21st Century Fox for $71.3B
Why Disney Bought Fox—and How It Changed Streaming Disney didn't buy 21st Century Fox just to get bigger—it did it to win the streaming race. We walk through…
Deal AlchemistDeal Breakdown: Microsoft buys LinkedIn for $26.2B
In this episode, we break down Microsoft's $26.2B acquisition of LinkedIn: why it made strategic sense, how the deal was structured and financed, and the EU…