Blueprint for Building a $15B J&J Acquisition Target
How do you build a company that $JNJ will buy for $15 billion? Listen here.
Identify Motivation Early to Avoid Wasting Deal Time
If this is missing, you’re all wasting time. The exact moment he admitted his motivation to do a real deal. https://t.co/qN0ZgLYOqF #SmallBusiness & Deal Making #SMB https://t.co/mdeKboGQdn
Yahoo's 2005 Acquisition of Flickr Marks Early Photo‑Sharing Takeover
#ThisDayInTechHistory. March 21, 2005. Yahoo announces that it will acquire the popular photo service Flickr. #Technology #Takeovers #History https://t.co/GxEp7H0Jm9
Skip Brokers, Beat Competition: Go Off‑market
off market only: on market: – broker markup 10–15% – 50 buyers competing – full price or walk off market: – no broker – no competition – motivated seller – you control everything
Credibility Packet Showcases Board Expertise and $300M Track Record
the credibility packet that replaces capital: – board roster with bios – 250+ years combined experience – $300M+ in prior transactions – NBIO template ready
Family Office Patience Fuels 100x Acquisition Asset Class
Lacey Wismer has been investing in ETA since 2010. She has backed 100+ entrepreneurs and completed over 65 acquisitions. Family office patience with A-player urgency. Search funds. Holdcos. Serial acquisition. Fundless sponsors... These used to be separate lanes. Now they're merging into...
What Makes Top 1% Search Fund Operators Thrive
We just released an episode with Lacey Wismer, who has made over 100 search fund investments. We discuss what separates a top 1% operators from the rest. She also shares stories from her early days, including investments that returned 35x and 100x...
Estimating Market Value for $1.5B
I’m sure there’s no desire, or rush, to go public anytime soon, clearly. But as a thought exercise, based on their current numbers: >$1.5b revenue >$250m adjusted EBITDA >10% organic ARR growth >ca$1.4T technology services TAM What do you think the public markets would pay for...
New Free Guide: Quick Answers for Selling Your Business
I have just updated our free resource page for business owners who have questions about selling a small business. Find quick answers and links to videos that go more in-depth. https://t.co/1IbWgvLJNT
LP Secondaries Plunge Below Par as GP Continuations Surge
7% of LP-led secondaries in 2H’25 sold at par. Over a quarter sold < 80 cents. Meanwhile GP-led CVs are booming. Different structure, same problem The traditional exit isn’t there at the price the GP underwrote.
Choose a Career You'd Play for Free
I keep coming back to what Eric said about his job in private equity & running his fund. “I would do this job for free. I love it so much. I really enjoy the intellectual challenge of solving the problems that...
Savvy Games CEO Brian Ward Still Pursuing Game Acquisitions
My latest exclusive interview with Brian Ward, CEO of Savvy Games Group, about investing in games and acquiring game companies. He still expects to be active in doing deals. https://t.co/5hWlkaV9QO
Trim Inventory, Adopt JIT to Boost Sale Value
“If you plan to sell in the next few years... identify excess inventory and use it up. Go to a just-in-time system if possible. Remember, we want to maximize profits while minimizing the required capital. This makes your business look...
Integrate Broker and Proprietary Search with Unified Tools
Key tools to run a broker & proprietary search simultaneously. The problem is not realizing this is a business system. https://t.co/TkOPkMEB8f #SmallBusiness & Deal Making #SMB https://t.co/DwMbyj3qjL
EBay's Depop Acquisition Targets Younger Shoppers
The @ebay acquisition of @depop from @etsy makes so much sense, especially because EBay has been trying to build its customer base and reach younger demographics. #ebay #depop #etsy #fashion #business
U Mobile Deal: Strategic Win or Debt Risk?
U Mobile Ownership Shift: A Strategic Masterstroke or a Debt-Fueled Gamble? Some asked: Local Triumph or Sovereign Risk? Corporate finance perspective, let me explain the A, B, & C: A. Positives B. Negatives C. Neutral ↓↓↓
Money Wins: Ellisons Unlikely to Dump WBD Deal
I wish I could agree with The Ankler position on the PSKY acquisition of WBD “one good push and the thing unravels.” But money changes everything. Pretty much always. Governments flex a lot… rarely pull a trigger. Do we really think...
Bezos Plans $100B Fund to Automate Manufacturing with AI
"Jeff Bezos is in early talks to raise $100 billion for a new fund that would buy up manufacturing companies and seek to use AI technology to accelerate their path to automation." https://t.co/UmA1I3g0xp
Bearish Pressure Threatens Previously Bullish Deal Market
The best news may be in the rearview... Bears encroach on bullish dealmaking market https://t.co/Gc2v7KSjbQ
Predictive Analytics Flagged BVNKFinance Before Mastercard Deal
Crunchbase called it. Three months ago, we flagged @BVNKFinance as a likely acquisition target, & @Mastercard just announced plans to acquire it for up to $1.8B. That’s the power of predictions — you can spot opportunities early & move before competitors....
Buying a Business Beats Startup Hype for Profit
I’m growing a little tired of all the hype and nonsense around the word #startup... Entrepreneurship has reached a point of mass popularity... [In reality,] buying a business is the easiest way to own a profitable one." –Smarter than...
Network‑Driven M&A Fuels Rapid Growth for Young Operator
Just finished a conversation with a true operator. "Being boots on the ground. Getting punched in the face."- type of guy. (As he described himself...= He scaled his firm organically from zero to $20M in sales. Then sold it to a strategic,...
Worthington Steel's $1.3B Deal Makes No.2 US Metal Center
Worthington Steel to buy Kloeckner for $1.3bn, creating the No. 2 North American metal service center. https://www.metalnomist.com/2026/03/worthington-steel-to-buy-kloeckner-for.html
IRR Overstates Private Equity Returns, Shows 20% ≈ 12%
The most important concept for allocators to understand in private equity is that IRRs are numbers used in marketing and not representative of investor retuns In the below example, a 20% "IRR" is actually equal to an 11.9% annualized return (and...
White House, Oracle, Silver Lake Dodge $10B TikTok Sale Questions
The White House, Oracle and Silver Lake won't answer questions about a $10 billion payment that was apparently required to secure the TikTok sale. It's unprecedented. And officially undisclosed. U.S. investors and biz leaders should want answers. https://t.co/Y0n8MTHFKa
RBC Flags Revolution, Xenon, Arrowhead as Top Biotech Takeover Targets
RBC: Revolution, Xenon, Arrowhead among top #biotech takeover targets https://t.co/h1toH9szrU by @realJacobBell $ARWR $XENE $RVMD $DYNE
Real Estate PE Delivers 2x Return Before Deal Begins
Why is real estate private equity so lucrative? Because you basically get a 2x return on your capital before the deal even starts Let’s take a sample deal: $10MM purchase price. The deal will be purchased with a $7.5MM loan and $2.5MM of...
Small Businesses Must Adopt a Sales Mindset when Buying
The mindset requirement that most small business searchers completely miss. When you need sales skills to buy something valuable. https://t.co/I65QEUaTVu #SmallBusiness & Deal Making #SMB https://t.co/6EkB5eHA9j
FT‑Targeted Biotech Stocks Deliver Short‑Term Alpha
Good read on Biopharma M&A by RBC , little mention to Betaville, Bloomberg, FT , oand ofc the standout $RVMD Our biopharma team is out with an M&A discussion piece - given the importance of M&A to the sector, it is...
Turn Seasonal Shops Into Year‑Round Online Profit
Case Study: Spotting Opportunity in Underutilized Businesses: A Seaside Retail Example I recently had an interesting conversation that highlights a great opportunity for those of you looking to buy a business rather than start one from scratch. The Situation A friend of mine...
Altai Capital Presses OSUR Sale, Activ
$OSUR is a cash box with a diagnostic business attached. Altai Capital is pushing for a full strategic review/sale. Activist has also nominated two directors for the upcoming AGM. Altai's SOPT in the screenshot. https://t.co/tAJzNe8cMy
Private Equity Returns to Pivot Defining Market Peaks and Lows
Private Equity back at a weekly pivot that defined the 2022 highs and the 2024 & 2025 lows. Deals get done here. $PSP $BX $KKR $APO https://t.co/LYslqtcmIZ
Due Diligence Starts with People, Not Paperwork
Before you ever open a 200-page PPM, real diligence starts somewhere else. You have to vet the people behind the deal. Talk to past investors. Understand their track record. See how they communicate when things go right, and wrong. Documents matter, but trust is built...
Slow Starts, Strong Balance Sheets Fuel Serial Acquirer Success
Serial Acquirers, Stockholm and The Story of 47 Acquisitions Per Year Why serial acquirers remain one of the most powerful business models in the world. The best of them have acquired as many as 275 companies and traded at valuations as high...
IJM Rejects Takeover; Pharmaniaga Escapes Risk
IJM says no to a massive takeover offer, a corporate mafia victim speaks out, and Pharmaniaga finally escapes the danger zone. Are you paying attention to these market moves? Major Updates, March 17, 2026: 1. IJM Corp shuts down Sunway's bid. 2. Victor Chin's...
Follow a 5‑Step Roll‑Up to Billion‑Dollar Exit
the roll-up in 5 levels: level 1: buy 1 business level 2: buy 3 competitors level 3: regional dominance level 4: national holdco level 5: $100M–$1B exit everything else is noise
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)
