These entries document the mechanics of a professionally run sell-side process, in the order a seller encounters them.

What Actually Breaks Deals, and When
The M&A Teaser: Anonymous but Specific
The Sell-Side Process, Stage by Stage
The Management Presentation in M&A
IOI vs LOI: Two Different Commitments
What Due Diligence Actually Covers
The Data Room and What Goes in It
Confidentiality in a Sale Process
The CIM: What Goes In and What Stays Out
Closing Mechanics: Signing to Wire
How a Buyer List Actually Gets Built
Auction, Targeted, or Bilateral Deal

Founder Reference

Offer Received: what founders do next
Advisory: questions founders ask before hiring anyone
Valuation: what moves the number

The Proprietary Discount

The Proprietary Discount is the gap between what a serial acquirer pays in an unbanked bilateral negotiation and what the same business clears in a competitive process. Windsor Drake publishes the measurement as The Windsor Drake Proprietary Discount Index.

Holding an Offer?

Independent sell-side M&A advisory for fintech founders. The firm represents founder-led companies in sell-side M&A from its Toronto headquarters.

Approach Response ›

The sale process, stage by stage.

Founder Reference

The Proprietary Discount

Holding an Offer?