Kaj Rozga, Senior Antitrust Counsel at ABB

Antitrust scrutiny in M&A is at an all-time high, and companies must be prepared to navigate evolving regulatory challenges. Kaj Rozga, Senior Antitrust Counsel at ABB, brings a unique perspective, having worked both inside the FTC and in private practice, advising on antitrust strategy, compliance, and M&A transactions.

In this episode of the M&A Science Podcast, Kaj breaks down the latest antitrust trends, regulatory risks, and strategic approaches to managing antitrust concerns in M&A. He shares how dealmakers can proactively assess risk, structure deals to mitigate scrutiny, and use antitrust as a negotiation tool.

Thing’s you will learn:

• Antitrust in M&A – What business leaders need to know

• How regulators evaluate mergers – Key triggers for scrutiny

• Industry rollups & market consolidation – Why private equity is under the microscope

•  Navigating second requests & regulatory delays – How to prepare for costly reviews

• What not to do between sign and close

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This episode is  sponsored by Buyer-Led M&A™. Take control of your deals.
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Episode Timestamps:

00:02:30 - Guest Introduction: Kaj Rozga’s Background & ABB Overview
00:07:00 - Antitrust Trends: Government Levers & Key Enforcement Themes
00:13:00 - Substantive Antitrust Challenges: Vertical Competition, Industry Roll-ups & Expanded Deal Horizon
00:21:00 - Government Positioning & Impact on Deals
00:30:00 - Mandatory Filings & Second Requests
00:38:00 - Best Practices for Document Control & Risk Mitigation in M&A
00:48:00 - Gun-Jumping & Pre-Closing Coordination: Managing Compliance Risks
00:54:00 - Structuring Deals to Avoid Antitrust Concerns
01:02:00 - Using Antitrust Considerations in Negotiation

John Cerasuolo, CEO of Leap Partners

Creating a successful roll-up strategy requires a unique combination of industry expertise, strategic planning, and leadership. John Cerasuolo, CEO of Leap Partners, has mastered the art of acquiring and integrating businesses in the home services industry, including HVAC, plumbing, and electrical services. With 19 acquisitions in less than three years, Leap Partners is rapidly expanding across the Southeast with a people-first approach.

In this episode of the M&A Science Podcast, John shares how to build a roll-up machine from scratch. He discusses selecting the right industry, pitching to investors, sourcing and executing deals, and the critical role of leadership and culture in scaling a business. John also explains how to foster strong relationships with business owners and private equity partners, along with key lessons learned from executing high-volume M&A.

Things You’ll Learn:

• How to build a roll-up strategy from scratch

• Understand how to pitch to investors and raise capital without an initial deal in place

• Gain insights into sourcing and executing deals with a people-first approach

• Discover the importance of rapid integration and operational efficiency

• Hear how to build strong relationships with business owners and private equity partners

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This episode is  sponsored by DealRoom BI. Harness the power of real-time data to make data-driven decisions by building, visualizing, and sharing interactive M&A reports seamlessly. Visit DealRoom.net to learn more.
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Episode Timestamps:

• [00:00:00] Introduction & The Importance of M&A Reporting Automation
• [00:02:00] Guest Introduction: John Cerasuolo's Background & Key Lessons from the Navy
• [00:07:00] The Role of Private Equity in Roll-ups
• [00:10:30] Building a Roll-up Machine: Step-by-Step Guide
• [00:13:45] Sourcing Deals & Choosing the Right Industry
• [00:21:20] Securing the Right Investment Partner & Negotiating Terms
• [00:30:30] First Deal & Launching Leap Partners
• [00:33:00] Building a Strong Pitch to Business Owners & Characteristics of Leadership
• [00:40:00] Integration Strategy & Operational Efficiency
• [00:45:00] Partnership with Business Owners & Culture Building Post-Close
• [00:48:30] Craziest Thing Seen in M&A & Final Thoughts

Jeff Giles, Executive Vice President at Core & Main

M&A at scale requires more than just financial analysis—it’s about building relationships, understanding cultural fit, and executing a seamless integration strategy. With over 60 deals under his belt, Jeff Giles, Executive Vice President at Core & Main, has a proven track record of leading high-volume, buyer-led M&A.

In this episode of the M&A Science Podcast, Jeff shares his expertise in strategic acquisitions, relationship-driven deal sourcing, and post-merger integration. He discusses the critical role of culture in M&A, how to prioritize acquisition targets, and why technology is essential for managing complex transactions.

Things you will learn:

• Buyer-led M&A – The power of proactive deal sourcing

• Building a strategic market map – Core vs. adjacent markets

• How to assess culture in M&A – What makes a deal truly successful

•  Negotiation tactics in valuation gaps – Closing deals with the right structure

• Integration planning – Ensuring a smooth transition post-close

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This episode in sponsored by DealRoom AI. Forget spending hours reviewing diligence contracts. Automate the extraction and analysis of key information and create quick summary reports. Harness the power of Buyer-Led M&A with DealRoom's proven framework. Visit DealRoom.net to learn more.
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Episode Timestamps:

[00:00:00] Introduction & Guest Background

[00:03:00] Building Market Maps & Identifying Opportunities

[00:11:00] Developing Relationships in Buyer-Led M&A

[00:19:00] Expanding into Adjacent Markets

[00:24:00] Prioritization of Acquisition Targets

[00:31:00] Evaluating Cultural Fit & Integration Risks

[00:38:00] Building Trust & Transparency with Business Owners

[00:42:45] The Due Diligence Process

[00:50:00] Managing Bid-Ask Spread & Valuation Challenges

[00:55:00] Integration Planning for M&A Success

[01:01:00] The Role of Technology in M&A

[01:06:00] Surprising Moments in M&A

 John Orbe, Senior Associate General Counsel – M&A at Emerson

Large-scale deals come with layers of complexity—from regulatory challenges and cross-border negotiations to structuring transactions that align with long-term business strategy. Having the right legal approach can make or break a deal.

In this episode of the M&A Science Podcast, John Orbe joins us to break down what it takes to execute high-stakes transactions. He shares insights on the differences between large and small deals, how legal teams can be a strategic partner in M&A, and why cross-border transactions require more than just legal know-how.

Things you will learn:

• Big vs. small deals – Unique challenges and hidden complexities

•  When to involve legal in M&A – Structuring LOIs the right way

•  Cross-border deal challenges – Cultural, regulatory, and legal considerations

•  How technology is reshaping M&A – AI, automation, and data room efficiencies

•  Avoiding post-closing disputes – Drafting airtight agreements
  
  

Trailer Timestamps: 

00:00:00 Introduction

00:03:17 Entering the M&A World

00:05:26 M&A as a Team Sport

00:07:18 Transition from Law Firm to In-House Counsel

00:10:35 Differences Between Large and Small M&A Deals

00:15:42 M&A Deal Strategy and Business Risk

00:25:10 Legal Due Diligence Process

00:30:22 Cross-Border M&A Complexities

00:35:40 Technology and AI in M&A

00:40:15 Managing External Legal Counsel

00:45:00 Negotiation Strategies in M&A

00:50:30 People and Cultural Considerations in Deals

00:55:10 M&A Deal Execution and Closing Challenges

01:00:20 The Future of M&A and Legal Innovation

01:05:45 Craziest M&A Stories and Lessons Learned