Watermill Ventures acquires and turns around underperforming businesses. The case describes the criteria the company uses to identify acquisition candidates, its extraction and selection, and how he introduces strategic thinking in the business he gets. Steve Karol, founder of a water mill, is concerned that the company has just acquired two companies in its three years of operation. He is considering a number of measures, including the creation of a website to expand the base of contacts. "Hide
by David Garvin, Artemis March Source: Harvard Business School 21 pages. Publication Date: August 16, 1996. Prod. #: 397010-PDF-ENG