Zero Personal Capital: Seller-Financed Deal with Payment Holiday
the vendor finance structure: – seller carries 100% as a note – 9–12 month payment holiday – business services its own debt – personal capital deployed: $0 legal common available
Software PE Firms Facing Near‑total Equity Wipeout
Just how bad a shape are software-focused private equity firms in? My napkin math says that if going by public comps, then for many, most of the equity has now been wiped out.
Join Thursday Live: Explore Deal Studio Platform
Live on Thursday Tech to help searchers Tune in and we'll be discussing her company’s Deal Studio platform. Set yourself a reminder on YouTube here: https://t.co/5gI4ruc4gR https://t.co/alcDSDqvmx
Private Equity’s Marketing Masks True Volatility and Returns
One of the main reasons behind the significant backlash against private equity and private credit is some of the ways they were marketed are misleading: - Volatility laundering: Private equity claiming vol of 8% when it's actually 25%+. Private credit claiming...
Private‑Equity Returns Overstated; Accurate Marking Essential
Apollo's John Zito on private equity: "I literally think all the marks are wrong...This next cycle is going to be a big moment in time for the private markets because people are way smarter than I think private-market participants, particularly...
Apollo Cut Software Exposure Early, Now a Top Buy
Worth pointing out that Apollo saw the writing on the wall much earlier than the market, and moved to reduce software exposure due to potential AI risks more than a year ago now. If I was buying the dip in these...
Deep
The newsletter is almost 1,800 words. We go deep with examples of sourcing and the way they use AI across their 160 portfolio companies. Lastly, we break down their real economic engine in detail: - M&A - Talent - Playbook It goes out in 4-5...
Never Negotiate Face‑to‑Face—Put Everything in Writing
Negotiations should never be face-to-face. They should always be in writing so that there is never any confusion about what is being tendered or asked- How to Sell my own Business? The Book is available on https://t.co/l2EObkfURN https://t.co/SpNTxtRla2
Wall Street Funds Right‑wing Attack on Trump Housing Bill
Here’s the Wall Street funded right wing culture war attack against a Trump supported bill banning private equity from buying housing. https://t.co/LDJ27H9soj
Buyers Get Mastermind, Sellers Receive Limited Bundle Offer
Two Opportunities for Business Buyers and Sellers. Mastermind for buyers and a special seller bundle offer (limited availability) https://t.co/oABZ6O8WSb https://t.co/PC78ONM0nA
PE Firms Eye Anthropic AI to Boost Portfolio Innovation
The market is counting out private equity-owned (and private credit-financed) companies, even though they could be the firms that pursue AI most aggressively. A consortium of PE firms are in talks to integrate Anthropic's AI into their portfolio companies. https://t.co/ajG448PXen
Close Deals in 90 Days with Five Simple Steps
the closing process in 5 steps: – step 1: off market cold outreach – step 2: NDA + 3 years financials – step 3: NBIO submitted in 24 hours – step 4: LOI executed, 90 day exclusivity – step 5: due diligence, reprice, close total timeline: 90 days
AI Disruption Threatens Private Credit Collateral in Leveraged Software Deals
There's a circular risk in private credit that nobody is stress-testing. PE firms bought software companies with leverage. Private credit funded the debt. Now AI is disrupting those same software companies, compressing their revenues. The collateral backing billions in loans is deteriorating...
Three Essentials to Close Any No‑Money‑Down Deal
the 3 things that close every no money down deal: – capabilities (your credibility stack) – capital (the structure that deploys zero) – closing (the process that controls everything)
Buy Profitable Businesses Burdened by Operational Issues
I always tell buyers that they need to find a small business that makes money and is filled with operational problems. Learn more on How to Sell my own Business? The Book is available on https://t.co/l2EObkfURN https://t.co/61RdkEGqrU
Asian Terminals Delisted After Maharlika Investment Acquisition
𝗠𝘆 𝗣𝗵𝗶𝗹𝗶𝗽𝗽𝗶𝗻𝗲 𝗘𝗾𝘂𝗶𝘁𝘆 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 "𝗔𝗧𝗜 𝗗𝗲𝗹𝗶𝘀𝘁𝗶𝗻𝗴 — 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗕𝗮𝗰𝗸 𝘁𝗼 𝗪𝗼𝗿𝗸" On 1 March 2026, I shared the notice regarding the delisting of Asian Terminals Inc. (Ticker: ATI). The development came after Maharlika Investment Corporation (MIC), the Philippines’ sovereign wealth fund,...
Evergreen Secures 47 Acquisitions in One Year
Yes... the holding company that has acquired 160 companies in nine years is Evergreen. Ramsey, the co-founder in the middle next to Alex and me, spends his time speaking with business owners and leading Evergreen’s new platform and add-on acquisitions. He was...
Fear Stems From Market Declines, Not Saba’s Bid
I’m genuinely interested in everyone’s thoughts. IMHO, what’s stoking fear @AcaciaCap isn’t our bid but the massive declines in everything from OTF, TCPC, FSK, OXLC, BPRE, the tripling of outflows for Cliffwater and Blue Owl, the frauds, the rise in...
Redbird Execs Considered Buying Washington Post in 2023
Redbird’s Gerry Cardinale and Jeff Zucker expressed interest in buying Washington Post in 2023, per @nytimes: https://t.co/v5fCZ26uuf
Buying a Business Costs Less Than You Think
How Much Money Do You Actually Need to Buy a Business? The answer is simpler—and more realistic. https://t.co/1vSKngieRj #SmallBusiness & Deal Making #SMB https://t.co/8co8xWB3QJ
Serial Acquirers Turn Cash Into Endless High‑Return Growth
One of the biggest reasons investors get excited about serial acquirers: They solve the reinvestment problem. In most businesses, good reinvestment opportunities are limited. You fund the core projects, maybe expand capacity, invest in product… and after that, the incremental dollar usually...
Government's 71% Fee Threat Sparks Outrage
Leaving aside the bad precedent (govt threatening to shut down a co unless it gets paid), the fee itself is kinda insane. The entire enterprise value was only around $14 billion. So this would be a 71% “banker’s” fee.
Partial Recap During Growth Boosts Valuation and Upside
Because founders are famously optimistic about the future of their business, selling their company during a growth phase may feel like giving away too much upside. A couple things to think about in this case: 1. A liquidity event is...
Irth Capital Eyes $47 Takeover Bid for PZZA
$PZZA is back in the rumor mill - This time Irth Capital is mentioned alongside Brookfield. - Irth already owns ~5% and reportedly tried to bid last year. - Rumored price: $47/share vs $36 today. - At ~10x EBITDA, there’s room for...
Debt Extensions and Aggressive Cuts Signal Upcoming Layoffs
VCs are telling their port cos with debt to start the extension process early And PE folks are planning aggressive cuts to boost EBITDA in preparation We will see lots of layoffs here… https://t.co/t5Rfcdpvvm
Acquisition‑Driven Holding Co. Hits $1.5B Revenue
There is a holding company acquiring technology services businesses. Since its founding in 2017, it has completed more than 150 acquisitions. Its highest annual acquisition volume has been as many as 47 companies in a single year. Today, the company generates $1.5...
Only Five Spots: Market Your Business by April 15
A special deal for anyone who wants to market and sell their business in 2026. Only 5 available and only until April 15th. https://t.co/2V05ALJWUW #SmallBusiness & Deal Making #SMB https://t.co/i6TXRgro9R
Niche Holding Firm Commands 65x P/E via Dominant Acquisitions
There’s a niche holding company trading at roughly 65x earnings (2025 numbers: $234 million in net sales and $38 million in EBITA). The company focuses exclusively on acquiring and developing industrial and service businesses in narrow market niches. Its acquisition criteria are...
Private Equity Set to Reclaim SaaS Amid AI Wave
Private equity is about to eat its own software portfolio PE built the SaaS installed base by pushing cloud software into portfolio companies a decade ago. Now AI gives them a reason to rip it back out w/ @jaswu_ https://t.co/70prLKAdaG
Atomico's Crunchbase Engine Generates One‑Third New Deals
How does @atomico scale data-driven venture investing across Europe? By integrating Crunchbase data into sourcing and diligence workflows. 💪 Today, 1 in 3 net-new opportunities in its pipeline originates from its data engine, with Crunchbase as the data backbone. 🔗: https://t.co/zf1JHLNAqP
Private Credit's Low Multiples Raise Concerns for Later Creditors
I've never quite understood this either. Private credit is first in line during liquidations and they often lend 0.5x to 2.0x ARR when the transaction happens. After a few years of growth that's often <1x ARR and probably...
Acquirers Are Already Courting Sellers—Be the Next Buyer
9 million businesses changing hands this decade the acquirer in your market is already calling owners already signing NDAs already in due diligence the sellers they close with this year were always going to sell to someone the only question was whether that someone was you
Operational Expertise Drives Speyside’s $1B Lower‑middle‑market Success
My conversation with Eric Wiklendt of Michigan based Speyside Equity. We discuss his journey and how the private equity firm has built a reputation as a highly operational lower-middle-market investor with close to $1B AUM, 38 total investments across 20 platforms,...
SPACs Flood Market as IPOs Raise $11.7 B
After a flurry of IPOs that raised $11.7 billion this year, a new crop of blank-check firms are joining a long queue: all the other vehicles waiting for the chance to take a company public https://t.co/LpBCk25L1r
Micro‑PE Activity Spikes as Papa John’s Gets Bid
Nice to see small cap Papa John's $PZZA catch a bid. Small and micro private equity is getting much more active. Discl. Long. https://t.co/jxtCUCCgCr
Predict Private Market Risks and Opportunities Faster with Crunchbase
Want to spot opportunity and risk earlier in private markets? 🔍 Join us for a webinar on March 19 to see how Crunchbase’s predictive intelligence in @Snowflake helps teams uncover opportunity, anticipate risk, and move faster. Don’t miss out. Register. 🔗: https://t.co/H3DbOOIzht
Serial Acquirer’s Playbook: 35 Deals in $50‑500M Manufacturing
Traveled to a Serial Acquirers conference in Stockholm, Sweden. The wifi at the hotel is slow, so it takes a little longer to upload the podcast episode with Eric Wiklendt of Speyside Equity, where he shares how they’ve acquired over 35...
Scale Your Service Business with No‑money‑down Acquisitions
work with me and scale your traditional service based business via no money down acquisitions: expand your multiple and step into building a portfolio: https://calendly.com/josh-joshli/m-a-private-advisory
Transparent Deal Journey: Real Client Success Steps
Mike’s actual path to a successful deal without lies and/or hype. This is a real journey of a client spelled out step by step. https://t.co/rCbnSHUqpo #SmallBusiness & Deal Making #SMB https://t.co/aObkNecA7n
Remote Owners Face Hidden Risks in Delegated Management
Case Study: Managing a Business with a Remote Owner: The Hidden Challenges Today, I want to discuss a common scenario in business ownership: when an owner spends most of their time away from the business and relies on a manager to...
Recession‑Proof Utilities: Private Ownership of Evergreen Industries
The industries that never have bad years: – People always get sick (clinics) – People always die (funeral homes) – Trash always needs collecting (waste) – Buildings always need cooling (HVAC) – Bugs always come back (pest control) – Old people always need care (senior homes) These...
Five Seller Types, Five Tailored Selling Strategies
The 5 seller types: The Exhausted Owner – Burnt out, just wants out – Lead with simplicity and speed The Legacy Protector – Cares about staff and reputation – Lead with your transition plan The Price Maxxer – Focused purely on number – Lead with structure that gets them...
Ignore Personal Details, Prioritize Cash Flow and Deal Structure
Things that do not matter in an acquisition: – Your personal credit score – Your savings account balance – Your age – Your industry background – Whether you've done it before – What your friends think – Whether you feel ready Things that do matter: – The target's cash...
Winners Alliance Commits Additional Funding Post‑Bankruptcy
Winners Alliance wrote in a court filing today it plans to continue investing in Grand Slam Track when(if?) the track meet company emerges from Chapter 11. WA has invested already around $20 million in equity and debt
Röko: Undervalued Serial Acquirer Poised for Growth
The holding company that almost no one talks about, yet it might be one of the most efficient compounding engines. RÖKO owns 29 niche, traditional businesses, runs at 21% margins, generates 14.5% returns on capital, and keeps acquiring new companies every...
TALK Commands ~3× Revenue Multiple, Outpacing Digital Health
This is actually good news for health-tech. TALK’s takeout multiple of ~3.0x revenues actually represents a fairly healthy premium to the recent digital health average (recall ACCD was taken out at ~1x). https://t.co/4FyXzAiny4
Withdraw Your Profits When Business Starts Thriving
“Many people, even when their company achieves success, will continue to leave their profits and initial capital in the company... Once things are rolling, you need to get your money back out of the company.” – 21 Stupid Things (2016)...
Team Up: Buying a Business Becomes Simpler
Buying a business is easier when you’re not doing it alone. Learn more: https://t.co/0Zb2oIUKUO #SmallBusiness & Deal Making #SMB https://t.co/xNUHGplSQC
Buy Low, Sell High: Leverage Cash‑Flow for $50M Exit
The acquisition math nobody shows you: Buy at 3–5x earnings Sell at 8–12x earnings 10 businesses × $500K profit = $5M EBITDA $5M EBITDA × 10x = $50M exit Businesses you paid nothing for Funded by the cash flow they already produced This is the game. Learn...
Leverage Expertise, Not Assets, to Acquire Middle‑Market Firms
Speaking with a former hedge fund manager who started investing in and acquiring profitable lower middle market companies. There is a catch though.. The model often starts with advisory work, where clients are willing to pay substantial fees for judgment alone. There is...