Mergers and acquisitions (M&A) are sometimes complex but always fascinating—a true dance where steps are taken carefully and strategically. Willy Walker, CEO of Walker & Dunlop, is a virtuoso in this dance. Under his leadership, the company grew from a value of $25 million to several billion and realized no less than 16 acquisitions. In an in-depth conversation with Kison Patel, Walker reveals his rich experiences and valuable insights, which every entrepreneur should know.
Non-cash Deals: A Strategic Game in Uncertain Times
Walker’s approach to M&A is inventive and flexible, as evidenced by his first deal at Walker & Dunlop—a non-cash transaction. In these uncertain times, this approach offers a strategic solution for companies to join forces and grow together. It’s not just about acquiring assets, but about creating synergies where each part contributes to a stronger, integrated whole.
trust and relationships: the foundation of every successful acquisition
A crucial element in the success of Walker’s acquisitions is building trust and maintaining strong relationships with potential sellers. This aspect of M&A is often underestimated, but Walker emphasizes how essential it is to respect and value the human side of the deal alongside the financial aspects. It’s not just about closing deals, but about forming long-lasting, mutually beneficial partnerships.
Walker strongly believes in ‘people diligence’ – thoroughly getting to know the people you will be working with. This includes not only their successes but especially their experiences during difficult moments and challenges. These deep insights into the leaders and teams of potential acquisition candidates are indispensable for assessing the cultural fit and the long-term viability of an acquisition.
choosing your role, your strength in the m&a team
Walker’s career is a model of diversity, with experiences ranging from general management to investment banking and venture capital. This broad background has helped him find his unique strength in M&A: convincing with authenticity and insight. He encourages others in M&A to identify and develop their own strengths, and to use these for the success of their deals.
vision and fit: the essence of a successful m&a strategy
Walker’s philosophy emphasizes the importance of a clear vision of how a target company fits within the future strategy of the acquiring company. He believes it’s crucial to understand how each aspect of the target company contributes to overall growth and vision, which he always includes in a 5-year BHAG plan. It’s not just about the financial transaction, but also about ensuring a cultural and strategic fit in a shared goal, where everyone sees and feels their contribution.
Willy Walker’s journey and insights into M&A are not just impressive; they are indispensable for anyone entering this dynamic world. His approach reminds us that, while no deal is perfect, it’s worth taking risks, thinking ahead, and daring to jump. The world of M&A is complex, but with the right mindset and approach, it can be an exciting and rewarding dance.
