“Partnership instead of a lucky break”: How networks and technology make M&A in medium-sized businesses more reliable

Cross-border transactions are teamwork: different legal systems, languages, and business cultures, and a constantly changing buyer universe. Steffen Bolz, Managing Partner at Westfalenfinanz, talks with Amanda Simmons, founder of Advisiom, about why curated networks count in M&A, where AI creates real leverage, and why the best deals in owner-managed SMEs ultimately depend on clarity, shared responsibility, and genuine collaboration.

Life’s work: Steffen, Amanda – M&A is often seen as a world of numbers and contracts. Why is it worthwhile to talk about networks and values?

Steffen Bolz: Because deals rarely fail in theory – they fail in implementation, communication, and trust. Especially in owner-managed SMEs, reliability is paramount: Who reacts quickly when things get critical? Who provides clear, decision-ready information? Who understands the realities of a family business? A strong network provides essential infrastructure for this.

Amanda Simmons: And values are the operating system of this infrastructure. In cross-border situations, language, legal and compliance issues, cultural expectations, and of course the question of who the truly suitable buyers are come into play. Complexity becomes manageable when you have trusting relationships and clear standards. 

Life’s work: Amanda, what triggered the founding of Advisiom?

Amanda Simmons: In many projects, I’ve repeatedly seen the same pattern: lots of contacts, but too little reliable, proactive collaboration. I wanted to build a global alliance that truly supports boutique and entrepreneurial consultancies—technologically advanced, yet with a human touch. Advisiom is an AI-powered M&A network that connects proactive deal teams and boutique firms worldwide, while ensuring each member remains independent. We combine technology with curated, long-term relationships for faster, smarter sourcing and stronger execution.

Life’s work: Steffen, what appealed to you about this approach?

Steffen Bolz: The curation process and the expectation that members don’t just “exist in a directory” but actively contribute. In my daily work, we frequently manage sales mandates across various industries within owner-managed, medium-sized businesses. In these processes, the fit is crucial: You need partners who take responsibility, work closely together, and contribute genuine market knowledge – not just a name.

Life’s work: Advisiom also mentions annual summits. What happens there to enable real transactions?

Amanda Simmons: For us, a summit isn’t just about exchanging business cards. It’s a working platform. We deliberately connect members based on sector, deal profile, and investor logic. The value comes from preparation, the exchange of market intelligence, and building trust. This trust becomes crucial later when pressure and uncertainty increase. We also invest in continuous professional development so that members remain technically and methodologically sharp and up-to-date.

Life’s work: You emphasize “proactive partners.” What does that mean in practice?

Amanda Simmons: These are members who are not only experts, but also act innovatively and collaboratively. Proactive partners share opportunities, qualify buyer leads, react quickly, take on tasks, and develop solutions together. Active contribution and mutual accountability are non-negotiable.

Steffen Bolz: In practice, this often translates into very tangible results: a clean data room, disciplined Q&A, reliable schedules, and transparent risk discussions. If these basics are in place, the probability of success increases – especially on the sales side, where process reliability is crucial.

Life’s work: What are the most common reasons for failing cross-border deals?

Steffen Bolz: Often, problems arise at the interfaces: differing expectations regarding information packages, decision-making processes, confidentiality, and pace. And in medium-sized businesses, the future of the company is frequently very important to sellers. This needs to be translated into a process that international buyers understand and respect.

Amanda Simmons: Exactly. Hurdles such as language, legal frameworks, compliance, and identifying suitable buyers are much easier to overcome when the right specialists are involved early on. A curated network ensures that these specialists are readily available – not by chance.

Life’s work: Values seem to be central. Which values define Advisiom’s way of working?

Amanda Simmons: We focus on six core values: Clarity (transparent communication), Mutual Accountability (shared responsibility), Expertise (deep competence with a learning attitude), Partnership (long-term relationships instead of one-off interactions), Action Orientation (results focus) and Vision (long-term thinking in building complementary expertise).

Life’s work: Steffen, how do you translate “Mutual Accountability” into everyday deal management?

Steffen Bolz: Commitments are commitments – for both sides. When a partner approaches buyers in their market, we expect genuine qualification and honest feedback. Conversely, as lead consultants, we must deliver high-quality information and meet deadlines. This reduces friction and prevents processes from losing momentum.

Life’s work: AI in M&A: Hype or real leverage?

Amanda Simmons: A real lever – if used correctly. AI can structure information, recognize patterns, and improve matching. But it doesn’t replace trust. That’s why we combine AI with curated relationships: Technology accelerates – people decide.

Steffen Bolz: I agree. AI expands the search space and improves preparation. Cultural fit, integration skills, and the chemistry between buyer and seller remain human. In many owner-managed companies, the future of the business—people, location, brand—often counts just as much as the price.

Life’s work: Many networks lose quality as they grow. How do you protect quality without undermining the independence of your members?

Amanda Simmons: Quality arises from clear expectations and a curated fit. We want boutique firms to retain their entrepreneurial spirit – that’s why members remain independent. At the same time, we rely on transparent rules and active participation. Those who don’t live by our standards and values aren’t a good fit. This protects quality for everyone involved.

Life’s work: Steffen, where does a network like this create the greatest added value for your clients?

Steffen Bolz: In three situations: firstly, when finding the right counterparty if the search area is international; secondly, when specialized topics require local expertise; thirdly, in critical phases where speed and precision are crucial. In these moments, it makes a big difference to work with partners you know and trust.

Life’s work: What advice would you give to entrepreneurs considering selling, acquiring, or succession planning?

Steffen Bolz: Start early. Options arise through time spent structuring, developing the equity story, analyzing the numbers, and selecting the right partners. In owner-managed companies, the process is also emotionally charged. When goals are clear and roles are well-defined, a transaction becomes significantly easier to manage.

Amanda Simmons: And don’t be intimidated by complexity. Many cross-border challenges are solvable if specialists are involved early on and collaboration is based on clarity and partnership.

Life’s work: Finally: What does “life’s work” mean to you in the M&A context?

Amanda Simmons: To build a network that helps people work together more professionally, quickly and fairly – and thereby enables better deals.

Steffen Bolz: To guide companies through crucial transitions – in such a way that substance is preserved and future value is created: for owners, employees and markets.