Buy-Side vs Sell-Side M&A: What Founders Should Know
Every M&A transaction has two sides. The sell side represents the company being sold and answers to its owners. The buy side represents the acquirer and answers to its investment committee. The same deal looks entirely different depending on which chair you sit in, and for a founder selling once, understanding the difference is worth […]
How to Value a SaaS Business
How to Value a SaaS Business: What Acquirers and Investors Actually Look At When a founder asks how to value a SaaS business, the instinct is often to reach for a multiple, run the math against ARR, and call it done. That instinct is wrong, or at least incomplete. Valuation in SaaS is not a […]
Rollover Equity: When to Keep Skin in the Game
Private equity buyers rarely write a check for 100% cash at closing. Instead, they structure deals with a blend of cash consideration, debt financing, and rollover equity from the seller. For business owners evaluating a PE offer, rollover equity represents both an opportunity and a calculated risk: the chance to participate in future value creation […]
Strategic vs Financial Buyer: Which Is Better for Your Exit
Choosing between a strategic buyer and a financial buyer represents one of the most consequential decisions in any sell-side mergers and acquisitions process. The distinction extends far beyond purchase price, affecting post-closing integration, management continuity, employee retention, and the seller’s ongoing role in the business. Understanding these buyer archetypes and their operational philosophies enables business […]
Leveraged Buyout (LBO) Explained for Sellers
When private equity firms approach business owners about acquisition opportunities, the conversation often includes references to leveraged buyouts. For sellers unfamiliar with institutional finance, the mechanics and implications of LBOs can seem opaque. Understanding how these transactions work, and particularly how debt financing affects deal structure and execution, helps sellers navigate negotiations with sophisticated financial […]
What PE Actually Does After They Buy Your Company
The ink dries on the purchase agreement. Your company just sold to a private equity firm. Champagne corks fly at the closing dinner, congratulations flow, and then Monday morning arrives. The new owners walk through your doors with laptops, organizational charts, and very specific expectations. For many founders and management teams experiencing this for the […]
Management Buyout (MBO): A Founder’s Guide
A management buyout represents one of the most strategically complex yet frequently misunderstood exit pathways available to business owners. Unlike traditional third-party acquisitions, an MBO transfers ownership to the existing management team, creating a transaction structure where the buyers already operate the business they’re purchasing. This dynamic introduces unique financing challenges, valuation considerations, and structural […]
The First 90 Days After Selling Your Business
The wire transfer confirmation arrives in your inbox. Your business, the entity you built over years or decades, now belongs to someone else. The number in your bank account has more zeros than you ever imagined. Monday morning comes, and for the first time in years, you have nowhere to be. This is the moment […]
The Founder Who Said No at 8x and Sold at 4x
Sarah Chen (name changed) built a SaaS company that solved a real problem in healthcare operations. By 2021, her business had reached $8 million in annual recurring revenue with 40% EBITDA margins. She had bootstrapped from zero to a business generating over $3 million in annual profit. When a strategic buyer approached with an offer […]
Why Your Business Broker Can’t Find PE Buyers
Most middle-market business owners hire brokers expecting access to sophisticated private equity buyers. The reality proves disappointing. Despite representing quality businesses valued between $10 million and $100 million, traditional business brokers routinely fail to attract institutional capital. The problem isn’t broker competence or business quality. The issue stems from a fundamental structural mismatch between how […]