M&A Talk (Mergers & Acquisitions), by Morgan & Westfield

One of the biggest challenges of selling your business is figuring out when and how to tell your employees. Announcing too early or too late can create a lot of headaches for both you and the buyer. You'll need to sort out big questions like: Will existing employee contracts continue, or will new ones be needed? What happens to their stock options and accrued leave? Should you ask them to sign non-competes? This episode of M&A Talk, with attorney Kyle Lawrence, dives into these crucial employee-related questions, helping you prepare for this important part of selling your business. View the complete show notes for this episode.   Want To Learn More?  Alternatives to Non-Competes with Employees Informing & Retaining Employees When Selling a Business How Your Employees Can Impact the Value of Your Business Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue   If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

Half of business sales fail due to issues buyers uncover during financial due diligence, but being prepared for due diligence can lead to higher sale prices and a smoother transaction. In this episode, CPA and due diligence expert Bill Wiersema discusses inaccurate revenue recognition, non-compliance with state and local tax laws, and how sellers can increase their business's value by addressing accounting changes, tax compliance, and non-recurring items.  View the complete show notes for this episode.   Want To Learn More?  M&A Due Diligence Preparation Adjusting Financial Statements: A Complete Guide Preparing Financial Statements When Selling a Business Top Financial Challenges in Selling a Business Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue   If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.

Are you prepared for the due diligence phase of selling your business? What sort of things will a strategic buyer want to see? In this episode, strategic buyer Michael Seitz shares his advice on selling your business, from ensuring your landlord is on board with the sale, to setting realistic price expectations, to how you should pick your attorney.  View the complete show notes for this episode.   Want To Learn More?   M&A Guide | The 4 Types of Buyers of Businesses M&A Due Diligence Preparation Selling to a PE Firm as Part of a Roll-up Preparing Emotionally for the Closing Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

What happens when you and your partner have different ideas of your business's future? What if that business partner is also a family member? In this episode, we talk with Chris Younger, an investment banker, about the challenges and potential solutions when selling a company due to partner conflict. View the complete show notes for this episode. Want To Learn More?  M&A Basics | Why Do Business Owners Sell Their Business? Family Offices and Management Buyouts – What You Need to Know Navigating Partnership Disputes: Lessons from a Valuation Expert Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.

What really makes a buyer take notice? This episode delivers actionable steps to make your business irresistible to buyers. Learn how to highlight what matters most: a strong team, steady growth, and real long-term value. Guest Jon Martinka, a veteran M&A Advisor, also offers practical advice on how to attract buyers and maximize your exit. View the complete show notes for this episode.  Want To Learn More?   Increasing the Value of Your Business | The RVD Model Reducing Concentrations of Risk Before Selling Your Business Why Do Some Businesses Not Sell? M&A Due Diligence | Checklist & Overview Optimizing Your Business for a Successful Exit Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue  If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

How much money do you need to live the life you want after you sell your business? How can you make sure that you get it? Wealth manager Joe LoPresti shares his experience on how you can prepare for the sale of your business. This podcast covers how you can prepare for the future you want and how to build a team of advisors who proactively help you manage your wealth after the sale.  View the complete show notes for this episode.   Want To Learn More?   The Role of Family Offices in M&A Critical Financial and Estate Planning Strategies When Selling Your Business  Will Selling Your Business Make You Happy?   Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

Did you know that you can use your retirement funds to buy a business? Jeremy Ames, co-founder and CEO of Guidant Financial, explains how individuals can invest in a business using a 401(k) rollover. This episode of M&A Talk covers the basics of a 401(k) rollover, including the requirements, the risks, and how to replenish your 401(k) after the sale is done. View the complete show notes for this episode.   Want To Learn More?  Retirement Funds Financing When Buying or Selling a Business Small Business Acquisition Financing Morgan & Westfield's Buyer's Guide Guidant Financial   Additional Resources Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue   If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

When are you obligated to disclose information about your business to the buyer? In this episode, attorney Darshan Kulkarni emphasizes the need to understand risk and be transparent about material information.  View the complete show notes for this episode.  Want To Learn More?  Negotiating an M&A Purchase Agreement | M&A Tips M&A Due Diligence | Checklist & Overview The Role of M&A Lawyers When Selling Your Business Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

What is happening in the world of corporate finance? How did we get where we are today and what does the future hold? Jeff Hooke returns to M&A Talk to continue the conversation about the most important lessons he has learned over 40 years in the investment banking world. He discusses trends over the past 10-20 years and relates where he thinks the markets are heading today. View the complete show notes for this episode.   Want To Learn More?  The Myth of Private Equity: An Inside Look at Wall Street's Transformative Investments by Jeffrey C. Hooke 18 Differences Between Valuing Public and Private Businesses How to Sell an Online Business: A Case Study   Additional Resources Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

Do you know how an investment banker can help you sell your company? Do you know the questions to ask to find the right one to help close the transaction? Bill Snow, an experienced Investment Banker, offers his insights into the top five myths surrounding hiring and working with an investment banker.   View the complete show notes for this episode.   Want To Learn More?  Net Working Capital (NWC) for M&A – A Complete Guide Do I Need to Hire a Local Business Broker? What Percentage of Businesses Sell? Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.

Take a look behind the curtain at how Acquire.com got started and how it is changing the M&A marketplace. Andrew Gazdecki, CEO of Acquire.com, discusses his platform's role in helping bootstrap SaaS startups be acquired and selling multimillion-dollar software companies. He shares stories, insights, tips, and predictions of AI in the M&A world. View the complete show notes for this episode.  Want To Learn More?  How to Sell an Online Business: A Case Study Top 5 M&A Value Drivers for Tech & Software Companies Preparing Emotionally for the Closing Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.

How do you increase your company's value? Is it as simple as raising prices? Pricing expert Mark Stiving explains how to explore the value that your product or services offer your customers and how you can turn that value proposition into more value in your company.    View the complete show notes for this episode.   Want To Learn More?  Increasing the Value of Your Business | The RVD Model Selling Value: How to Win More Deals at Higher Prices by Mark Stiving Instant Profits: How to Raise Prices Without Losing Customers by Mark Stiving Impact Pricing: Your Blueprint for Driving Profits by Mark Stiving Win, Keep, Grow: How to Price and Package to Accelerate Your Subscription Business by Mark Stiving Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue   If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

How can preparing for due diligence help sell your company? Will being prepared actually help close the deal? Rosco Graves, an accountant and due diligence expert, shares his insights into why preparing for due diligence is crucial to a smooth sale process. View the complete show notes for this episode. Want To Learn More? M&A Due Diligence | Checklist & Overview The Importance of Preparing for Due Diligence M&A Guide | The 4 Types of Buyers of Businesses Additional Resources Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.

Industry roll-ups: What are they? How do they work? What's in it for the business owner? Brandon Blewett, Head of M&A at Pave America, discusses what you can expect when selling your businesses to a PE firm as a part of a roll-up. View the complete show notes for this episode.   Want To Learn More?  Why Do Companies Acquire Other Businesses? Earnouts When Selling or Buying a Business | Complete Guide Net Working Capital (NWC) for M&A – A Complete Guide   Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue   If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.

When you're considering selling your company, you want to get the most value for your business, right? Well, some exit paths are more lucrative than others. How can you determine the best path for your situation? Are PE firms an option? Get inside tips from M&A expert Adam Coffey about why the world of private equity has been growing so rapidly in recent years, learn the general blueprint on how PE firms grow capital, and how to maximize your asset diversification.    View the complete show notes for this episode.   Want To Learn More?  Can I Time the Sale of My Business? Three Things To Consider When Deciding If It's The Right Time To Sell Your Business, The Private Equity Playbook: Management's Guide to Working with Private Equity Additional Resources Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue   If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

Thinking of selling your company? What is your plan for the windfall of money you'll get once you complete the sale? Wealth advisor Jason Gordo discusses seven points to keep in mind as you create a financial plan and a wealth strategy before beginning the sale process. Build the right team of advisors to discuss your post-transaction life plan, set goals, and think about the things you should do to prepare for the financial outcome of your sale. View the complete show notes for this episode. Want To Learn More?  Allocation of Purchase Price & Taxes When Selling a Business Preparing Emotionally for the Closing Crossroads: Deciding to Sell Your Business vs. Doubling Down Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue   If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

When you've finally sold your business, can you jump on the next cruise ship and sail away? Nope. You'll leave money on the table, or worse still, sink the deal if you do that. Matt Coyne, an experienced M&A Advisor, explains how planning ahead for the transition period can make the deal go more smoothly and potentially add value to your company. View the complete show notes for this episode. Want To Learn More? What's involved with the transition period: Who is impacted by the transition; how can it lower risk for the buyer; can it impact the value of the business? What variables are there: How might the plan differ between a PE firm, a family office, or a strategic buyer; what compensation to expect; how long will it take?   What are the steps in a transition period: how do you tell your employees; when do you tell them; what's it like on the buyer's side? How can you prepare: how far ahead should you start planning for the sale and integration; how long should you expect the integration period to be? Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.

If you are selling your business, you need an attorney. But do you know how to hire one? Get insider tips from Jude David, an Investment Banker and former M&A Attorney, on the biggest mistakes to avoid, what experience to look for, how to set expectations, tips on fees, and much more so you can get the right M&A attorney to help sell your business. View the complete show notes for this episode. Want To Learn More? Negotiating the Letter of Intent M&A Negotiating Tactic #1 – Honesty The M&A Purchase Agreement | An Overview Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.

As an owner, what's your biggest block to improving sales? How can fixing this improve the value of your company? We discuss the biggest problem that companies face in their sales and marketing teams with sales and marketing expert Derek Johnson. He says that many companies fail by focusing on tactics, not vision. Start with a vision, develop a strategy, then execute the strategy with precision. This can lead to improving your sales and ultimately improving the value of your company. View the complete show notes for this episode. Want To Learn More?  The Strategic Sales Leader: Mastering the Art of Vision, Strategy, and Execution by Derek Wellington Johnson The Wisdom of Leaders: History's Most Powerful Leadership Quotes, Ideas, and Advice by Derek Wellington Johnson Increasing the Value of Your Business | The RVD Model Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Luke Smith, CEO and founder of Croud, a digital marketing agency with five global offices, discusses the unique nature of M&A deals. He shares Croud's M&A journey, detailing five acquisitions ranging from small data businesses to larger digital marketing firms. Luke highlights the importance of flexible deal structures and maintaining trust with founders. He advises sellers to value their businesses and time their sales strategically and stresses the significance of cultural fit in successful acquisitions. View the complete show notes for this episode. Want To Learn More?  M&A Reps & Warranties | A Complete Guide Indemnification in Purchase Agreements | M&A Basics M&A Negotiating Tactic #1 – Honesty Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

Jeffrey Hooke, a former investment banker and private equity executive, discusses his career trajectory, emphasizing the challenges and lessons learned in finance. He highlights the complexities of working in large organizations like Lehman Brothers, the differences in deal-making between developed and emerging markets, and insights from his time at the World Bank. Jeff stresses the importance of finding a stimulating job, being well-organized, and maintaining interest in one's work for career success. View the complete show notes for this episode. Want To Learn More?  Business Exit Plan & Strategy Checklist | A Complete Guide M&A Basics | Why Do Business Owners Sell Their Business? The Myth of Private Equity: An Inside Look at Wall Street's Transformative Investments Security Analysis on Wall Street: A Comprehensive Guide to Today's Valuation Methods M&A: A Practical Guide to Doing the Deal The Dinosaur Among Us: The World Bank and Its Path to Extinction Emerging Markets: A Practical Guide for Corporations, Lenders, and Investors Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

 Show Summary: The purchase agreement – getting it right from the beginning with the LOI helps a smooth closing. Gerry Williams, an M&A attorney, outlines a purchase agreement's key components and four main sections: the preliminary section (purchase price, working capital, earnouts, post-closing adjustments), reps and warranties, covenants, and indemnification. He emphasizes the importance of understanding the implications of deal structure (asset vs. stock) and the role of reps and warranty insurance in mitigating seller liability.  View the complete show notes for this episode. Want To Learn More?   Anatomy of an M&A Purchase Agreement | Complete Guide M&A Reps & Warranties | A Complete Guide Net Working Capital (NWC) for M&A – A Complete Guide M&A Basics | Asset vs. Stock Sale Earnouts When Selling or Buying a Business | Complete Guide Indemnification in Purchase Agreements | M&A Basics Listen to Other Episodes: The Role of Your Accountant in the Sale of Your Business How an M&A Attorney Can Help Sell Your Business Transferring Risk and Achieving a Smooth Exit: The Role of Reps and Warranties Insurance in M&A Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Investment banker Richard Luftig discusses financing options for obtaining a middle-market company. He delves into the challenges and strategies for raising capital through either equity or debt capital for middle-market companies. Richard explores why pre-revenue companies struggle to attract capital while established firms with sustainable revenue fare better. He discusses private credit funds, equity investment, and what constitutes a successful debt-raising strategy.  View the complete show notes for this episode. Want To Learn More?  The M&A Purchase Agreement | An Overview Small Business Acquisition Financing 18 Differences Between Valuing Public and Private Businesses Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Jacob Orosz and Joe Bergin discuss the complexities of business valuation, which extends beyond simple EBITDA multiples. They discuss the importance of clean financials, a solid leadership team, and diversified customer bases to attract higher valuations. They also look at the benefits of an owner taking an outsider's view of the company to significantly reduce risk factors, such as owner dependence and customer concentration, to enhance valuation. View the complete show notes for this episode. Want To Learn More?  Should I Use SDE or EBITDA to Value My Business for Sale? EBITDA | Definition, Formula & Example – A Complete Guide Quality of Earnings in M&A – The Ultimate Guide Earnouts When Selling or Buying a Business | Complete Guide Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com

Show Summary: Jonathan Baker, an M&A advisor specializing in marketing firms, discusses the nuances of selling to a competitor or strategic buyer. Jonathan highlights the importance of trust and the risks of sharing sensitive information with competitors. He notes that while competitors may be more familiar with the industry, financial buyers often have a clearer process and timeline. He also discusses the differences in due diligence and the significance of cultural fit and employee retention in the marketing industry. View the complete show notes for this episode.  Want To Learn More?   Punctuation M&A Guide | Selling Your Business to a Competitor How To Maintain Confidentiality When Selling Your Business Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue  If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

Show Summary: Expert Joan Helmer discusses the M&A transition period – how to prepare, expectations, what can go wrong, and its phases, from the LOI to the closing. He emphasizes that the pre-closing phase involves aligning strategic elements, departmental roles, and operational gaps, while the post-closing phase focuses on integrating systems and roles, often requiring a 100-day plan. He also highlights the importance of alignment on expectations, having a clear plan, and the seller's role in due diligence. View the complete show notes for this episode. Want To Learn More?  The M&A Training & Transition Period M&A Negotiating Tactic #1 – Honesty Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Nate Pratt, a financial services wealth advisor, discusses the emotional journey of selling a business. He highlights the importance of cultural alignment, focusing on retaining the top talent in a company, and the long-term impact of an acquisition on the business's teams and clients. Nate notes that successful sellers start early, educate themselves, and share their passion and enthusiasm with potential buyers. Nate also stresses the need to be honest about the motivation to sell and to prepare emotionally. View the complete show notes for this episode. Want To Learn More?  Informing & Retaining Employees When Selling a Business Why is Selling a Business so Hard? M&A Negotiating Tactic #1 – Honesty Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

Show Summary: Mina Haque, CEO of Tony Roma's, spent almost nine months on legal due diligence, learning the ins and outs of the corporation, and building strong relationships with franchise owners. This led to her being named CEO of the company, focused on continuing the stabilization and growth of this global brand. She highlights the challenges of maintaining brand consistency and shares her insights through the acquisition, emphasizing the importance of staffing, integration, and franchisee relationships. View the complete show notes for this episode. Want To Learn More?  The Role of a Franchisor When Selling a Franchise M&A Due Diligence | Checklist & Overview Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

Show Summary: VC investor Sandeep Patil discusses the nuances of selling a company to a VC-backed business. VC acquisitions often prioritize growth potential and talent quality over immediate returns. Sandeep emphasizes the importance of understanding the acquirer's objectives, the integration strategy, and the long-term growth prospects. He notes that VC-backed companies typically prefer equity swaps due to limited cash reserves and advises sellers to perform thorough due diligence on the acquirer's growth potential and exit strategy. View the complete show notes for this episode. Want To Learn More? A Guide to Valuing Tech, Software & Online Businesses Business Valuation Methods in a Nutshell Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Blake Hutchinson, CEO of Flippa.com, discusses the evolution and challenges of the online business marketplace. The Flippa platform facilitates the sale of online businesses in five core business models: online publishing, e-commerce, SaaS, iOS/Android apps, and YouTube channels, with 425,000 AI matches weekly. Blake highlights the importance of supply acquisition, the growing interest from institutional investors, and the demand for quality assets focusing on traditional, recession-proof industries. View the complete show notes for this episode. Want To Learn More?  Tech & Software M&A Dynamics Top 5 M&A Value Drivers for Tech & Software Companies A Guide to Valuing Tech, Software & Online Businesses Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

Show Summary: SBA loan expert Tom Lyons talks about everything related to SBA loans. He discusses recent changes to SBA guidelines, such as allowing partial ownership changes and zero down payment options. Tom shares advice and insights into the process of acquiring a business, qualification and compliance challenges, guidelines for an owner to remain involved in the business, contingent seller notes, how landlords impact the loan terms, and the importance of working with a preferred lender for smoother compliance and approval. View the complete show notes for this episode. Want To Learn More?  SBA Financing When Buying or Selling a Business Small Business Acquisition Financing Business Valuation Guide: Do I need a Valuation? Additional Resources Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Marc Adams, a private investor with a background in private equity, discusses the challenges business owners face when selling their companies and ways to look at how to sell a business and minimize or eliminate the amount of taxes owed. He highlights the impact of taxes and fees, which can reduce the selling price by 30-45%. Marc emphasizes the importance of planning ahead, increasing prices, improving digital marketing, and possibly outsourcing to boost EBITDA.  View the complete show notes for this episode. Want To Learn More?  Secrets To 10Xing Your Business: And Cashing Out Tax-Free by Marc Adams (Free PDF) Why Do Some Businesses Not Sell? Art of the Exit Acquired Business Exit Plan & Strategy Checklist | A Complete Guide Business Valuation: A List of Factors to Consider Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary:  Geoff Coltman, Senior VP at Catena Solutions, discusses M&A integration in the food and beverage sector. He emphasizes the importance of understanding the human element and the “why” behind decisions. Geoff highlights the challenges of maintaining regular communication and the need for open communication and partnership with organizations to ensure successful change management. He also discusses the importance of starting with the end goal in mind and ensuring alignment and communication throughout the integration process. View the complete show notes for this episode. Want To Learn More?  M&A University Art of the Exit Acquired M&A Basics: Building a Sellable Business Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

Show Summary: Derek Johnson, author of “The Strategic Sales Leader,” discusses the importance of optimizing sales and marketing as you prepare your company for sale. Many companies leave money on the table due to ineffective sales and marketing strategies. Derek discusses leveraging competitive intelligence, understanding the buying journey and the psychology of change and persuasion, and stresses the importance of hiring experienced sales and marketing leaders and understanding the marketplace ecosystem. View the complete show notes for this episode. Want To Learn More? The Strategic Sales Leader: Mastering the Art of Vision, Strategy, and Execution (The Leadership Development Series) by Derek Wellington Johnson M&A Roundtable M&A University – The Art & Science of Selling a Business Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Patrick Stroth returns to M&A Talk to discuss the ins and outs of directors and officers insurance – also known as D&O insurance – and why it is a standard component of a transaction for buyers of middle-market businesses. Patrick highlights how the D&O tail can work along with reps and warranties insurance and tips on how to make it fairly painless for a seller to get D&O insurance even if they have never had this type of insurance before. This must-know topic applies to sellers now or planning to sell in the future. View the complete show notes for this episode. Want To Learn More? M&A Roundtable M&A Reps & Warranties | A Complete Guide Indemnification in Purchase Agreements | M&A Basics Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Kevin Moyer returns to M&A Talk to discuss EBITDA multiples, emphasizing their importance in valuing companies in the middle market. EBITDA multiples measure a company's enterprise value against its current EBITDA or run rate, either as reported or adjusted, and can vary widely by industry. The discussion covers the role of CapEx, the importance of accurate EBITDA adjustments, the need to ensure that EBITDA multiples are based on recent, relevant transactions, and the significance of net working capital in purchase price calculations. View the complete show notes for this episode. Want To Learn More? M&A Roundtable EBITDA | Definition, Formula & Example – A Complete Guide Business Valuation & Return on Investment (ROI) Net Working Capital (NWC) for M&A – A Complete Guide Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com

Show Summary: How much do M&A advisors and investment bankers charge? Bill Snow returns to M&A Talk to explain why there is not a straightforward answer to this common question. He shares insights into the difference between finding a buyer and closing the deal, the positive aspects of monthly retainer fees and how they are a sign of shared risk, how success fees are calculated in various transactions, the importance of understanding the scope of work, and the single most important skill needed for an M&A advisor.  View the complete show notes for this episode. Want To Learn More?  M&A Roundtable The Art of the Exit Acquired Business Broker and M&A Advisor Fees: A Comprehensive Guide Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Guest Mark Tarchetti rates the importance of preparing a company for sale at 10 out of 10, saying that inadequate preparation can lead to rapid buyer loss and diminished competition, potentially reducing a business's value by 20-30%. Mark highlights the power of a clear, compelling business story and shares his experiences from doing $40 billion in M&A deals, stressing the importance of strategic planning, team readiness, and having a robust growth plan focused on potential rather than past performance. View the complete show notes for this episode. Want More? Related Resources:  Pick a Lane: Growth strategy in a fast-changing world by Mark Tarchetti Tips on Preparing Your Business for Sale Preparing Emotionally for the Closing Strategies for Successfully Preparing Your Company for Sale with Jim Stevenson Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

Show Summary: Get the inside scoop on how to maximize the sale of your business and help the process run smoothly through the help of an M&A advisor during the critical preparation stage. Simon Leroux, a serial entrepreneur and founder of Optionality.AI, discusses the importance of early collaboration with M&A advisors. He highlights the inefficiencies in the M&A process, particularly for lower mid-market businesses, and emphasizes the need for advisors to help business owners prepare mentally and financially for an exit.  View the complete show notes for this episode. Want To Learn More?  Tech & Software M&A Dynamics Tips on Preparing Your Business for Sale M&A Basics | Why Do Business Owners Sell Their Business? Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Josh Springer, head of M&A for Hawke Media, discusses the acquisition and integration strategies he has used in closing 18 deals over the past 4 years, offering sellers a perpetual revenue share instead of a lump-sum payment. He shares insights into how this approach works, the benefits for sellers, lessons learned for the acquirers, how creative deal-making can beat market multiples, and how this strategy aims to provide stability and growth opportunities for sellers. This is all about the art of M&A. View the complete show notes for this episode. Want To Learn More?  Business Valuation: A List of Factors to Consider Earnouts When Selling or Buying a Business | Complete Guide Acquired – The Art of Selling a Business With $10 Million to $100 Million in Annual Revenue Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: What is a fractional CFO? How can they help grow a business? Can they help sell a business? Get all the details on this growing position in the middle market with fractional CFO John Hannum. He offers a wide-ranging discussion with insights into how a fractional CFO can fit into a company's growth plans, the role of different financial team members, how they play a role in preparing a company for sale, and how sellers can avoid the most common mistakes in dealing with finances during the M&A process.  View the complete show notes for this episode. Want To Learn More? The Role of Accountants When Selling Your Business Quality of Earnings in M&A – The Ultimate Guide Preparing Financial Statements When Selling a Business Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Rich Kottmeyer, investment banker and food and agriculture turnaround specialist shares his extensive knowledge of M&A activity and growth potential in the food and agriculture industry. This complex industry is experiencing fundamental changes driven by consumer preferences, technological advancements, and global conflicts. This is leading to new avenues for investments, and multiples ranging from 5-30 times EBITDA across different sub-sectors in the food and agriculture markets. View the complete show notes for this episode. Want To Learn More? Food and Beverage M&A Overview The Importance of Preparing for Due Diligence Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions by Dr. Dan Ariely (Author) Additional Resources Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

Show Summary: Katrina Nacci, a cross-border accounting advisor, discusses the complexities of converting accounting standards in international M&A transactions. Katrina offers a high-level look at the differences between U.S. and international accounting standards. She highlights when it might be necessary to convert from local GAAP to U.S. GAAP or IFRS, and the importance of having detailed documentation and a strong internal team familiar with local GAAP. View the complete show notes for this episode. Want To Learn More? Adjusting Financial Statements: A Complete Guide EBITDA | Definition, Formula & Example – A Complete Guide Additional Resources Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Exit options – what are your options? Understanding your own goals and the goals of potential buyers is key to achieving a successful sale of your middle market company. Buyer Jude David offers insights into the most common exit options, the differences between financial and strategic buyers, questions to consider in a self-inventory before preparing for the sale, and considerations for deal structure and leveraging M&A expertise to ultimately close your transaction. View the complete show notes for this episode. Want To Learn More?  M&A Basics | Why Do Business Owners Sell Their Business? Business Exit Plan & Strategy Checklist | A Complete Guide The Role of Family Offices in M&A Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.  

Show Summary: In this episode of M&A Talk, Marc Beginin shares his rollercoaster entrepreneurial journey. In early 2020, he was poised to sell his company for $80 million, but the COVID-19 pandemic abruptly halted the deal. Undeterred, Marc navigated through a series of challenges, including a merger, an acquisition, and a costly oversight on the other party's side. He reveals how these experiences ultimately led him to launch a brand-new business. Join Jacob and Marc as they discuss the resilience and adaptability required to thrive as an entrepreneur in the face of unexpected setbacks. View the complete show notes for this episode. Want to Learn More?  M&A Due Diligence | Checklist & Overview M&A Closing Process | A Complete Guide M&A Non-Compete Agreement | A Complete Guide Culture, Cash, and Cannabis: Lessons from a Serial Entrepreneur Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show Summary: Matt Sharrers joins us to discuss the challenges of replacing a CEO or founder of a company, with a focus on the need for a well-thought-out plan to ensure a smooth transition and maximize value. He emphasizes the importance of self-awareness and ego management for founders, as well as the need for a clear value creation plan and metrics to measure success. View the complete show notes for this episode. Want To Learn More?  Will Selling Your Business Make You Happy? The M&A Training & Transition Period Why Do Business Owners Exit? The Second CEO by  Matt Sharrers Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

Show summary:  Historically, reps and warranties insurance was only available to very large M&A transactions. In this episode, Patrick Stroth discusses how this product is now available to small and middle-market businesses. He explains that the objective is to provide sellers and buyers with a solution that is reliable and actionable and avoids conflict between the parties. The significant benefit for sellers is that they don't need to deal with escrow accounts, legal disputes, or earnouts and experience a clean exit so that they can move on with the next chapter of their lives unencumbered. This episode is especially important for sellers who are tackling reps and warranties for the first time. View the complete show notes for this episode. Want More?  M&A Reps & Warranties | A Complete Guide Indemnification in Purchase Agreements | M&A Basics M&A Due Diligence | Checklist & Overview Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.  

Show Summary: The private equity secondary market has grown significantly in recent years, with increasing acceptance and flexibility, but what is it exactly? Who is involved, and how do these funds operate? Jeff Bollerman has spent years in this evolving aftermarket for private equity interests, where investors can buy and sell stakes in private partnerships. He provides insights into the market's maturation, the role of professional advisors, the fierce competition among large syndicated funds, and predictions for the future. View the complete show notes for this episode. Want More?  M&A Guide | The 4 Types of Buyers of Businesses 18 Differences Between Valuing Public and Private Businesses Business Exit Plan & Strategy Checklist | A Complete Guide Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. If you have any topic or guest suggestions please email them to podcast@morganandwestfield.com.

If you have any topic or guest suggestions for M&A Talk, please email them to podcast@morganandwestfield.com. How can you get on the path to entrepreneurship by acquiring an established business rather than building a start-up? Harvard Business School professors Royce Yudkoff and Rick Ruback share their insights into the nuances of search fund investing, including the challenges of finding high-quality, enduringly profitable businesses. They focus on the appeal of the lower middle market, the advantages of finding a founder nearing retirement, and the appeal of the search fund approach toward entrepreneurship. View the complete show notes for this episode. Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue Download Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.

If you have any topic or guest suggestions for M&A Talk, please email them to podcast@morganandwestfield.com. The auction process is standard for M&A transactions, but that doesn't mean it's the only way to facilitate an acquisition. Get the inside scoop on a new way of bringing companies together for the best fit. Allen Darby details how his wealth management firm matches M&A buyers and sellers by focusing on long-term cultural fit. He explains why soft factors are critical and provides valuable insights into the M&A process, helping entrepreneurs make informed decisions about their businesses' future. View the complete show notes for this episode. Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue

View the complete show notes for this episode. What impact can a partnership dispute have on the value of a company? What is the difference between a legal valuation and a market-based valuation for M&A purposes? Expert appraiser Andy Frew answers these questions and more as he discusses what's involved and what can go wrong with valuations involving companies that have a partnership dispute arise. He covers the complexities of valuing partnership interests and establishing a thorough valuation methodology to prevent disputes from escalating. What You'll Learn Standards of Value: An explanation of the three types of standards of value – fair market value, investment value, and fair value – and when each is used.  Triggers: What can cause a partnership split or a dispute and the complexities involved in valuing minority interests in privately held businesses. Experience: The critical role of experience and credentials for appraisers, especially when their work may be challenged in court or by regulatory bodies like the IRS. Differences in Valuations: The distinction between valuations for legal purposes (e.g., partnership disputes, estate taxes) versus market-based valuations for M&A transactions. Want More? Related Resources:  Business Valuation Standards of Value & Fair Market Value Business Valuation Basics: 9 Critical Concepts to Understand Business Valuation Checklist: 4 Questions to Ask First Business Valuation Checklist: 3 Traps to Avoid Books Mentioned: Buy-Sell Agreements for Closely Held and Family Business Owners by Z. Christopher Mercer Quantifying Marketability Discounts by Z. Christopher Mercer Business Valuation: An Integrated Theory (Wiley Series in Finance) by Z. Christopher Mercer and Travis W. Harms Valuing a Business, 6th Edition: The Analysis and Appraisal of Closely Held Companies by Shannon P. Pratt and the ASA Educational Foundation Cost of Capital, + Website: Applications and Examples (Wiley Finance) by Shannon P. Pratt (Author), Roger J. Grabowski (Author), Richard A. Brealey (Foreword) 30-Second Economics by Donald Marron Additional Resources: Planning to sell your business? Schedule a free consultation today. Download a free PDF copy of The Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue, and Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. Purchase your copy now of A Beginner's Guide to Business Valuation | The Exit Strategy Handbook | Closing the Deal Listen to Other Episodes M&A Valuations in the Real World with Abhi Mathews The Art and Science of Valuing a Middle-Market Business with Kevin Moyer and Megan Sartor What Does the Future Look Like for Middle Market Valuations? with Bill Wiersema