How Experienced Buyers Actually Make M&A Work

https://directory.libsyn.com/episode/index/id/39875845

Carlos Cesta, Partner at Makanta Services

M&A isn’t just about closing deals, it’s about making the deal actually work.

Carlos Cesta, M&A advisor and founder of his own boutique advisory practice, spent 30 years on the buy-side at Verizon, Dentsu, Presidio, and NP Digital. He's worked 125+ deals across telecom, advertising, and digital marketing. Now he's flipped to advisory, bringing that buy-side operator mindset to entrepreneurs preparing for exit.

In this episode of the M&A Science Podcast, Carlos Cesta, Partner at Makanta Services, breaks down how seasoned buyers really think about M&A. Not as a linear process, but as a series of decisions that constantly reshape one another.

Carlos shares why strategy is as much about what not to pursue, and he also explains why one-size-fits-all deal templates fail, how earnouts are often misused, and what experienced buyers do differently to protect value after closing.

Things You'll Learn

Why M&A strategy also means defining what you WON’T buy
The deal spiral model experienced buyers use
How to start integration planning before LOI
How to structure earnouts that actually work
Using deal structure earnouts as a risk management tool

‍

Carlos Cesta

Carlos Cesta has 30 years of M&A experience from investment banking to corporate development at Verizon, Dentsu, Presidio, and NP Digital. He ran point on Verizon's media buildout (AOL and Yahoo deals) and has closed 125+ transactions. He specializes in standing up M&A functions from zero, defining programmatic M&A strategies, and structuring deals for long-term value creation. Recently transitioned from buy-side to launch his own advisory practice, partnering with entrepreneurs using a buyer-led mindset.