As we noted in Deal Notes® 36, the CFO can play a critical role for the seller post-LOI. What really matters in that role isn’t the title; it’s that they are a strong communicator, their financial data is always consistent and substantiated, and they give the buyer confidence throughout the diligence process.
A softer-skills-focused version of this role is what might be referred to as a “Deal Steward”. A Deal Steward is someone on the seller’s deal team who helps the deal move forward efficiently and successfully. It could be the General Manager, the CFO, an owner, another member of the C-Suite, or a lead board member. Regardless of title, their impact is defined by their ability to coordinate, communicate, and manage relationships across all parties involved in the transaction and keep the deal on track and moving forward.
The Deal Steward can be someone who:
- Manages professionals: Aligns counsel, tax advisors, shareholders, management, and other advisors; keeps discussions constructive.
- Communicates effectively: Maintains relationships across the deal team and can engage with each member individually because they have established trust and familiarity.
- Assigns tasks and holds team members accountable: Prioritizes tasks, creates accountability, and prevents bottlenecks while balancing primary responsibilities.
A seller’s Deal Steward can help a transaction move forward efficiently and successfully. They often work behind the scenes to support clarity, consistency, and collaboration across the transaction.
In short, the Deal Steward blends technical expertise with relationship management. Many of the most efficient and successful middle-market aerospace and defense transactions we have seen included a talented Deal Steward on the seller’s team.
If you are thinking about selling someday, do you know who on your team will be the Deal Steward?
Have a great day!
Troy Medeiros
Vice President
