My Guest My guest today is Brent Beshore, Founder and CEO of Permanent Equity, a private investment firm that invests in Founder-owned private companies. Permanent Equity is a long-term investor that typically intends to hold portfolio companies indefinitely, often without the use of any leverage. In addition to his role as an investor, Brent isContinue reading “Brent Beshore: The “Forrest Gump of Private Equity””
Tag Archives: M&A
A.J. Wasserstein: Reflections of a Founder, CEO, Investor and Educator
My Guest My guest today is A.J. Wasserstein, the Eugene F. Williams, Jr. Lecturer in the Practice of Management at the Yale School of Management. His research, writing, and teaching concentrates on search funds, entrepreneurship, programmatic acquisitions, and small businesses. In addition to his role as an educator, A.J. is also a private investor inContinue reading “A.J. Wasserstein: Reflections of a Founder, CEO, Investor and Educator”
Sell-Side M&A Advisors: How to Choose One, How Much They Cost, and The Importance of the “Fine Print”
My Guest John Carvalho is the President of Stone Oak Capital, an M&A advisory firm that focuses exclusively on middle market businesses, with a specific focus on transactions between $10 and $100 million. Among other things, Stone Oak offers acquisition, divestitures, corporate finance and valuations services for its clients. John is also the Founder ofContinue reading “Sell-Side M&A Advisors: How to Choose One, How Much They Cost, and The Importance of the “Fine Print””
Strategic Considerations When Evaluating a Letter of Intent to Sell Your Business
Listen to This Blog Post For many business owners (particularly those actively looking to sell their companies), few things are as exciting as receiving a Letter of Intent (“LOI”) from a prospective purchaser. Beyond the sense of personal validation stemming from the fact that a sophisticated counterparty sees an asset worth paying for, many businessContinue reading “Strategic Considerations When Evaluating a Letter of Intent to Sell Your Business”
Busting the Biggest Myth About Purchasing and Operating Small Companies
Listen to This Blog Post In this second edition of our “Myth Busters” series (the first one can be found here), I attempt to debunk a common misconception among prospective acquirors, particularly those looking to purchase a business for the first time. This myth states that the smaller the business in question, the easier itContinue reading “Busting the Biggest Myth About Purchasing and Operating Small Companies”
Having Hard Conversations (Live Panel Discussion from 2022 MIT Sloan Search Fund Summit)
In this week’s episode, we discuss the importance of having difficult conversations, something that CEOs find themselves doing on a near-daily basis. We discuss three primary types of difficult conversations, including: Hard conversations around internal company dynamics (eg: terminations); Hard conversations about dynamics external to the company (eg: politics and global affairs); Difficult conversations thatContinue reading “Having Hard Conversations (Live Panel Discussion from 2022 MIT Sloan Search Fund Summit)”
Quality of Earnings Analysis: What You Need to Know Before Buying a Business
My Guest My guest today is Chris Hutchinson, a Partner in Ernst & Young’s Transaction Advisory Services Group. Chris has over 15 years of experience advising clients on M&A, financings, valuation projects, and due diligence mandates, with a specific focus on private lower-middle-market businesses. Chris and his team have completed an untold number of QualityContinue reading “Quality of Earnings Analysis: What You Need to Know Before Buying a Business”
Lessons Learned in Capitalizing an Acquisition
Listen to This Blog Post Among the myriad variables that must be carefully considered when acquiring a business is the question of how the acquisition is going to be financed. My intent in the material that follows is not to cover the countless options available to acquirors stemming from this question (that wouldn’t be possibleContinue reading “Lessons Learned in Capitalizing an Acquisition”
Bob Pritchett: Author of “Fire Someone Today” and Founder & Executive Chairman of Faithlife Software
My Guest Bob Pritchett is a lifetime entrepreneur and CEO, having founded Logos Research Systems (later Logos Bible Software and now Faithlife) in 1992, and acting as its CEO for 30 years until recently assuming the role of Executive Chairman. During Bob’s tenure, Faithlife has grown both organically and inorganically from 2 employees to overContinue reading “Bob Pritchett: Author of “Fire Someone Today” and Founder & Executive Chairman of Faithlife Software”
The Working Capital Adjustment
Listen to This Blog Post In a previous blog post, Busting the Biggest Myth About Selling Your Business, we reviewed a number of fundamental facts related to the sale of any company that warrant being repeated here: The single biggest myth about selling a company is that the seller bears no further risk after theContinue reading “The Working Capital Adjustment”