Twenty-six markets in two years: Ascentium's people-first, founder-led M&A playbook — with Chloe Chan, Chief Strategy & Corporate Development Officer
Why does founder alignment matter more than valuation in M&A?
A: Traditional M&A often focuses on acquiring assets at the lowest possible valuation, which means due diligence and integration planning can be rushed or even overlooked. Our approach is fundamentally different.
We prioritise founder-led businesses with shared values, strong vision, and long-term commitment. For us, strategic fit matters more than price. When founders are aligned with our purpose, business continuity after the acquisition is significantly stronger.
We also have a coinvestment model where founders and key management reinvest back into Ascentium. That shared stake ensures commitment on both sides and reinforces continuity long after the deal closes.
What makes M&A deals close faster and integrate more successfully? What's Ascentium’s "secret sauce"?
A: Our structure works on three layers.
First, we have a very robust infrastructure for due diligence—covering financial, commercial, operational, IT, legal, and compliance aspects. We focus heavily on value drivers, not just validation.
Second, our senior team consists of people from the sector—CPAs, lawyers, executives who genuinely understand the industry. That expertise helps us quickly identify growth levers and risk factors.
Third, and most importantly, we focus on people. We spend meaningful time with founders and key managers. We don’t see them as targets; we see them as partners. Trust and relationship building are essential for a successful transaction.
How do you evaluate culture and leadership quality in an M&A deal?
A: It’s a fair question because intangibles are notoriously hard to quantify. But we’ve developed a methodology that translates them into tangible indicators.
We look at team capability - how well they acquire and retain clients. We evaluate how they manage relationships, how opportunities for cross-selling might unfold, and how the macro environment supports or challenges them.
When you speak with teams, you gain crucial insight into how they operate. Those insights help us understand the real value of the business and what’s driving its performance.
What's the biggest M&A challenge when operating across Asia's diverse markets?
A: Cultural diversity. What works in Singapore may not work in Japan.
For example, in Japan, value isn’t determined solely by price. Reputation, honour, and cultural respect matter deeply. Sellers want to know our long term strategy, our vision, our values, and how we will treat their employees before we even talk about valuation. Different markets have different expectations. Understanding and respecting those nuances is critical.
Why does post-merger integration make or break an acquisition?
A: Integration is more than Day 1 and Day 180 checklists. Yes, we must ensure finance systems migrate, IT transitions smoothly, and compliance is sound. But those are hygiene factors.
Our industry is fundamentally people driven. If integration focuses only on checklists and misses the bigger picture—engaging teams, retaining talent, keeping them happy—you lose the very asset you just acquired. Retention equals continuity. Continuity equals value.
What should founders know before selling their business?
A: Don’t focus solely on purchase price. A high offer may look attractive but could be driven by cost cutting strategies that undermine the very things that make your business successful.
If the investor’s thesis requires heavy cost reductions, it may frustrate employees, degrade service quality, and ultimately disappoint clients. That destroys long term value. Choose a partner who will invest in your business, not strip it down.
What does the next phase of Ascentium's M&A in Asia Pacific look like?
A: The past 18 months have been about building our foundation. Today we operate across 26 jurisdictions with over 2,800 employees, a strong base to build from. Our next phase is becoming more theme driven. We’re looking at macro trends, geopolitical developments, FDI flows, and trade activity, and using those insights to identify acquisitions that support our clients’ evolving needs.
Conclusion
Successful M&A in Asia isn't about the highest bid, it's about the right partner. Whether you're exploring an acquisition, considering a sale, or building a cross-border growth strategy, Ascentium's advisory team brings sector depth, cultural fluency, and a founder-first philosophy to every transaction.
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