Don’t Buy What You Already Own
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If you’re considering an acquisition to help grow your company, look for deals that offer complementary expertise, advises John M. Cook, CEO of The Profit Recovery Group, an Atlanta-based company that provides recovery audit services. When Cook purchased The Profit Recovery Group in 1991, it was making about $5 million in annual sales. That figure grew to $202.8 million in 1998, with $351 million expected last year, putting The Profit Recovery Group on Fortune’s list of fastest-growing companies. Cook’s shopping strategy: Whether an acquisition is large or small, his goal is to "acquire skill sets and industry knowledge of industries or services that I’m currently not in." Writer: TJ Becker
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