The adviser closest to the business should be the one testing the decisions
Not reviewing them after. Testing them before.
When that doesn't happen, decisions get made in isolation. The acquisition closes before anyone stress-tests the integration. The cash extraction happens without seeing the pressure it creates elsewhere. Each decision made sense on its own. Nobody tested how they connect.
Where BLG is involved
Buying a business. Selling one. Bringing in partners or buying them out. Buying assets. Funding. Commercial matters. Extracting cash without creating pressure. Restructuring ownership. These decisions don’t arrive separately. BLG is involved where they connect.
What BLG's involvement looks like here
An owner weighing an acquisition.
BLG tests what happens to cash flow if integration takes eighteen months instead of six, whether the business can absorb the management distraction, and how the debt holds if revenue dips during transition.
An owner extracting cash to fund a property purchase.
The business can afford it. But the timing sits against a planned expansion, a key hire, and a supplier contract renewal. The extraction looks fine in isolation. Tested against what else is in motion, it locks in pressure the owner didn’t see coming.
Not because the owner asked for a review. Because the adviser already knows where the decisions collide.
Judgement builds over time
The adviser who tested the acquisition is the one who sees the cash extraction coming. Not briefed on it. Already holding the context. The pricing shift that worked last year becomes a data point when this year’s growth commitment is on the table. The debt structure from the previous expansion is already factored into the next one.