Field notes on selling a small business.
Practical writing on valuation, deal structure, the boomer-exit wave, and the mechanics of merging virtually before selling.
Why baby-boomer business owners are choosing syndication
Roughly 2.3 million U.S. businesses are owned by people 65 or older. Most are too small to interest PE alone. Syndication changes the math.
How to value a small business for a roll-up
Multiples vary wildly by industry, deal structure, and add-backs. Here is what actually moves the number in a virtual-syndicate context.
Cash vs equity: which to take in an acquisition
If the buyer offers a mix, you have a choice to make. Equity carries upside; cash carries certainty. Here is the framework most syndicate members use.
The 7-step playbook for joining a syndicate
From browsing active syndicates to signing closing docs, here is the full sequence and what to expect at each step.
Private equity isn't your only buyer
Family offices, search funds, ESOPs, and strategic acquirers all play in the lower-middle-market. Some are a better fit than PE.
What an M&A attorney actually does in a syndicate deal
If you have never done a deal, the legal piece is the part that surprises sellers most. Here is the scope of work and what it costs.
What roll-up operators look for in a target company
If you run a roll-up or platform, here is how to read a syndicate member before you make an offer.
The pre-merger buyout: when a member wants out before close
Not every owner makes it to the closing table. Here is how a syndicate handles a member who wants out mid-process.