Insights
Notes for owners considering a process.
Writing on sell-side M&A, capital raises, and preparation for lower middle market companies.
How to Evaluate a Buyer Beyond the Highest Offer
How to choose a buyer for a business sale by comparing certainty, structure, employee impact, and post-close fit, not just the headline price.
Read the articleBuyer Diligence Readiness Checklist
A practical buyer diligence readiness checklist for lower middle market owners. Grouped by financial, legal, customer, operations, and commercial areas.
Read the articleThe Quality of Earnings Is Not the End of Diligence
A quality of earnings report validates profit, not the whole business. See the commercial, people, systems, and legal diligence that follows M&A financial diligence.
Read the articleHow to Sell a Landscaping Business
Selling a landscaping business starts with recurring commercial contracts, route density, and a crew that stays. Here is what buyers examine and how to prepare.
Read the articleHow to Sell a Home Care Agency
Selling a home care agency comes down to licensure, caregiver retention, and referral sources that keep sending clients. Here is how to prepare for a sale.
Read the articleHow to Sell a Med Spa
Selling a med spa starts with clean numbers, a compliant medical oversight model, and a team that stays. Here is what buyers examine and how to prepare.
Read the articleManagement Depth in a Founder-Led Business: What Buyers Mean
Buyers test whether revenue, customers, and decisions survive the owner's exit. See how management depth in a business sale changes price and structure.
Read the articleLetter of Intent: The Terms That Matter Before Exclusivity
A letter of intent frames the deal before exclusivity begins. See the commercial terms owners should resolve before they sign one.
Read the articleFrom LOI to Close: What Happens After You Sign
A signed letter of intent starts a 60 to 120 day sprint. See the diligence, drafting, and consent work that decides whether a deal reaches the wire.
Read the articleCustomer Concentration in M&A: How Buyers Underwrite Risk
Customer concentration does not make a business unsellable. See how buyers price durability, contracts, and relationship risk in diligence.
Read the articleEarnouts in a Business Sale: When Owners Should Accept Them
How earnouts work in a lower middle market sale, why buyers ask for them, and the terms that decide whether contingent consideration ever pays.
Read the articleShould You Sell as a Platform or an Add-On Acquisition?
Learn how platform and add-on buyers underwrite the same business differently, and what that means for price, management, and rollover equity.
Read the articleRollover Equity in a Business Sale: What It's Really Worth
Learn how rollover equity works in a business sale, what can affect its value, and the questions owners should ask before accepting a second bite.
Read the articleThe Working Capital Peg: The Price Issue Owners Miss
The working capital peg quietly moves cash between buyer and seller at closing. Learn how it is set and what records to prepare before diligence.
Read the articleStrategic Buyer vs. Private Equity: How It Changes Your Deal
Compare strategic and private equity buyers before selling your business. See how price, deal terms, employee impact, rollover equity, and certainty differ.
Read the articleEBITDA Add-Backs That Survive Quality of Earnings
Which EBITDA add-backs survive a quality of earnings review? What buyers accept, what gets rejected, and how to build a defensible schedule.
Read the articleWhat 'Exit Ready' Really Means (And Why Most Owners Aren't)
Exit ready means more than being willing to sell. Here is the gap between feeling ready and being ready, and the work that closes it before you're in a deal.
Read the articleExit Readiness: What Buyers Actually Diligence Before a Sale
Exit readiness means more than a profitable P&L. Buyers want proof the business survives diligence without surprises. Here is the gap and how to close it.
Read the articleThe 18-Month Window: What Actually Makes a Business Sellable
Sellable and profitable are not the same. Buyers test owner dependency, financial quality, and customer concentration first. Here is the 18-month window.
Read the articleWhat Lower Middle Market Owners Should Prepare Before a Sale
A practical checklist of what to have ready before starting a sell-side process, so diligence goes smoothly and the price holds.
Read the articleHow a Sell-Side M&A Process Works, Step by Step
A plain-language walkthrough of a sell-side M&A process for lower middle market business owners, from preparation through closing.
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