Private Equity’s Playbook

This article was originally published in Forbes. Private equity’s (PE) playbook for creating investment value is relatively basic and straightforward (though not necessarily easy). Building on my prior article, The Alchemy of Private Equity Explained, this article delves into the strategies and tactics used by PE investors to boost EBITDA (Earnings before Interest, Taxes, Depreciation,…

Private equity funds generate above market returns through executing a repeatable strategy

The Alchemy Of Private Equity Explained

This article was originally published in Forbes. Business owners are often intimidated by the mystique and the limited information available about private equity (PE) firms and how they operate.  The goal of this article is to help explain their mechanics and typical strategy. PE buyers are neither inherently better or worse for sellers, they just…

Four Reasons Deals Fail to Close

This article was originally published in Forbes. So, you’ve completed the letter of intent (LOI) stage of trying to sell your business.  You and the buyer have reached an agreement on the primary terms of the transaction, signed a non-binding agreement, and even perhaps made a public announcement (likely against the recommendations of your advisors). …

Don’t Get Bamboozled By Your Investment Banker

This article was originally published in Forbes. Selling a middle market business is a once in a lifetime experience for most owners. Its therefore essential that the selection of an investment banker occur in an informed and thoughtful manner, or you risk making the wrong choice, costing time and money and possibly resulting in the…

Honesty Is A Seller’s Best Policy

This article was originally published in Forbes. Signing a letter of intent (LOI) that outlines the key provisions of a prospective deal is an exciting milestone for sellers, who have likely spent a great deal of time, energy, and money getting to this point.  But, once the LOI is executed, the seller’s negotiating power decreases…