In mature industries, M&A is often seen as a route to accelerated growth, and there are many examples of businesses successfully pursuing this as a growth strategy. However, achieving the desired outcomes proves elusive for many.  L.E.K.’s Partner, Karin von Kienlin, explores the factors that separate success from failure in European M&A, quantifies the share of European transactions that created value over a 10-year period, and examines why they have beaten the odds.