M&A insights for technology founders.
Insights and perspectives on M&A advisory, business valuation, and deal execution, written by operators who have been on both sides of the table.
Choosing Advisors
What a Sell-Side Advisor Actually Does in a Mid-Market Deal
A sell-side advisor manages buyer outreach, coordinates diligence, negotiates terms, and protects the seller from re-trades. In a mid-market deal, they typically engage 50 to 150 potential buyers, generate 3 to 8 serious offers, and manage 60 to 90 days of diligence. Here is what that looks like in practice.
Choosing Advisors
Should You Hire an M&A Advisor? When DIY Exits Go Wrong and What an Intermediary Actually Does
Founders who sell without an advisor leave 10% to 25% on the table on average. An M&A intermediary manages buyer outreach, competitive tension, and deal negotiation so you can keep running the business. Here is when hiring one makes sense and when it does not.
Exit Planning
Selling vs Sale: The Language, Psychology and Reality of Exiting a Company
"Selling" implies an active, ongoing process. "Sale" implies a completed event. The distinction matters because founders who think about exiting as a sale miss the months of preparation, positioning, and negotiation that determine whether the outcome is good or great.
Exit Planning
Business Exit Strategy: From First Thoughts to Signed SPA
A credible exit strategy takes 12 to 18 months to execute properly. From identifying the right moment to preparing financials, running a competitive process, and negotiating a Sale and Purchase Agreement, here is the full journey from first thoughts to signed deal.
Exit Planning
Optimising Value: How to Sell Your Business Without Leaving Money on the Table
The headline purchase price is rarely what you take home. Working capital adjustments, escrow holdbacks, earn-outs, and tax structure can swing your net proceeds by 20% or more. Here is how to protect value at every stage of the deal.
Exit Planning
How to Sell Your Business: A Founder’s Guide to Preparing, Positioning and Timing
How to Sell Your Business: A Founder’s Guide to Preparing, Positioning and Timing For a founder, the decision to sell a business is rarely a single moment. It is the culmination of years of effort, risk, and emotional investment. Yet, while most founders are experts in their product and their market, the specific mechanics of selling a company often remain opaque until the process has already begun. This knowledge gap creates risk. In M&A, the entity with the most information usually wins.
Exit Planning
Why the Best Exits Start 18 Months Before You Think They Do
Most founders bring in an advisor once interest is already on the table but by then, leverage may already be slipping. Engaging a trusted team early gives you time to clean up diligence, optimise key metrics, and ensure no strategic buyer is left out of the conversation.
Valuation
Recurring vs Reoccurring Revenue: The Key Difference (and Why It Affects Valuation)
Recurring revenue is contractually committed. Reoccurring revenue repeats but is not guaranteed. The difference can mean a 2-3x gap in valuation multiples. Here is how buyers classify your revenue and what you can do about it.
Exit Planning
When Is ‘Too Early to Sell’ Actually Just Right?
Real-world signals that it’s time to explore M&A - even before you feel “ready.”