Ep 491 Inside the Mind of an Acquirer: The Case for Unsexy

Built to Sell Radio

#Business #Builttosell #Johnwarrillow #Sellingabusiness #Sellingmybusiness #Valuation #Valueabusiness #Entrepreneur #John Warrillow

34:56

In this premiere episode of "The God Hook," host Carol Costello introduces the chilling story of Richard Beasley, infamously known as the Ohio Craigslist Killer. In previously unreleased jailhouse recordings, Beasley portrays himself as a devout Christian, concealing his manipulative and predatory behavior. As the story unfolds, it becomes clear that Beasley's deceitfulness extends beyond the victims he buried in shallow graves. Listen to the preview of a bonus conversation between Carol and Emily available after the episode. Additional info at carolcostellopresents.com . Do you have questions about this series? Submit them for future Q&A episodes . Subscribe to our YouTube channel to see additional videos, photos, and conversations. For early and ad-free episodes and exclusive bonus content, subscribe to the podcast via Supporting Cast or Apple Podcasts. EPISODE CREDITS Host - Carol Costello Co-Host - Emily Pelphrey Producer - Chris Aiola Sound Design & Mixing - Lochlainn Harte Mixing Supervisor - Sean Rule-Hoffman Production Director - Brigid Coyne Executive Producer - Gerardo Orlando Original Music - Timothy Law Snyder SPECIAL THANKS Kevin Huffman Zoe Louisa Lewis GUESTS Doug Oplinger - Former Managing Editor of the Akron Beacon Journal Volkan Topalli - Professor of Criminal Justice and Criminology Amir Hussain - Professor of Theological Studies Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://evergreenpodcasts.supportingcast.fm…

11 days ago 1:03:55

MP3•Episode home

What makes someone want to buy an “unsexy” business?

Jon Pole has acquired 19 traditional radio stations. On paper, it’s an industry many assume is in decline. But for an experienced buyer like Pole, these deals are less about media trends and more about community, cash flow, and culture.

494 episodes

Ep 491 Inside the Mind of an Acquirer: The Case for Unsexy

Built to Sell Radio

46 subscribers

published 11 days ago

MP3•Episode home

What makes someone want to buy an “unsexy” business?

494 episodes

#Business #Builttosell #Johnwarrillow #Sellingabusiness #Sellingmybusiness #Valuation #Valueabusiness #Entrepreneur #John Warrillow

All episodes

1
Ep 492 Mastering the Deal: How Greg Alexander Got $162M for a 30-Person Firm—and What He’s Learned from Watching 50 Other Exits Up Close 58:39

4 days ago58:39

58:39

Greg Alexander sold SBI, his 30-person consulting firm, for $162 million. Since then, he’s had a front-row seat to 50 other service firm exits through his peer group, Collective 54. In this episode of Built to Sell Radio, Greg breaks down what separates firms that sell from those that stall. This is a Mastering the Deal episode of Built to Sell Radio—designed to help you punch above your weight in a negotiation to sell your business.…

1
Ep 491 Inside the Mind of an Acquirer: The Case for Unsexy 1:03:55

11 days ago1:03:55

1:03:55

What makes someone want to buy an “unsexy” business? Jon Pole has acquired 19 traditional radio stations. On paper, it’s an industry many assume is in decline. But for an experienced buyer like Pole, these deals are less about media trends and more about community, cash flow, and culture.

1
Ep 490 Exit Story: How a Middleman Built and Sold a $19M Distribution Business 52:12

18 days ago52:12

52:12

Sean McAuliffe didn’t invent anything. He was a distributor. If you lost your car keys and went to a locksmith to cut a new set, chances are your locksmith got the replacement key from Sean’s business. He bought cheap keys from Asia and sold them to locksmiths. Nothing fancy. Like so many businesses, Sean was a middleman. He'd never really thought about selling—didn't think anyone would want to buy it—but when a private equity group offered him millions, Sean realized he was sitting on a potential goldmine.…

1
Ep 489 Inside the Mind of an Acquirer: Sequoya Borgman on How Independent Sponsors Buy Companies, Structure Deals, and Spot Pretenders 1:06:52

25 days ago1:06:52

1:06:52

What do acquirers really want? Sequoya Borgman has acquired 19 companies and exited two. He’s raised capital on a deal-by-deal basis, working outside the traditional private equity model. In this episode of Built to Sell Radio, Borgman explains how “independent sponsors” operate—and why more wealthy individuals are now pooling money to buy lower middle-market businesses. You discover how to:…

1
Ep 488 Exit Story: Garren Hilow on Selling for $190M, Taking Stock, and Missing His Earn-Out 59:23

5 weeks ago59:23

59:23

When Garren Hilow helped start Abveris, he didn’t have much—just a background in sales, a co-founder with a Harvard PhD, and a stock option representing 16% of the company. Eight years later, he bought out his co-founder, bootstrapped the company with bank debt (collateralized by his house), and sold it in a stock deal that peaked at $190 million.…

1
Ep 487 After the Deal: How the Ultra-Wealthy Invest After Selling Their Business 1:07:15

6 weeks ago1:07:15

1:07:15

What would you do with $20 million? That’s the minimum amount required to join Tiger 21, the exclusive network where ultra-high-net-worth entrepreneurs learn how to preserve and grow their wealth. Michael Sonnenfeldt founded Tiger 21 after selling two companies and realizing that the skills that made him a successful entrepreneur didn’t translate into smart investing. He built the group to help other entrepreneurs avoid costly post-exit mistakes.…

1
Ep 486 Inside the Mind of an Acquirer: The Harvard Playbook for Buying Your Business 1:00:55

7 weeks ago1:00:55

1:00:55

A new generation of buyers trained in Entrepreneurship Through Acquisition (ETA) is looking for businesses like yours. Unlike private equity firms focused on roll-ups, ETA buyers are often searching for a single business to own and operate—making them a legitimate option for certain sellers.

1
Ep 485 After the Deal: The Psychology of Selling—Kill Criteria, Walkaway Mindset & Why “Telling Your Company’s Story” Often Drives Up Your Multiple 1:09:30

8 weeks ago1:09:30

1:09:30

For the first time ever, we recorded a Built to Sell Radio episode in front of a live audience at the Value Builder Summit—a gathering of mission-driven advisors dedicated to helping founders level the playing field as they approach their exit. Rob Walling has started, built, and sold multiple companies. As an investor and conference organizer, he’s seen hundreds of founders exit—some thriving, others struggling. He teamed up with Dr. Sherry Walling, a clinical psychologist specializing in supporting entrepreneurs, to codify what separates a successful exit from one that leaves an owner adrift. Their insights culminated in their new book Exit Strategy.…

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Ep 484 How to Know When It’s Time to Sell 1:10:04

9 weeks ago1:10:04

1:10:04

Kristie Shifflette built a 13-location Orangetheory Fitness empire from scratch—bootstrapping a capital-hungry business, personally guaranteeing leases, and taking on risk most founders wouldn’t touch. In the end, it paid off for Kristie and in this episode, you’ll discover how to: Bootstrap a capital-intensive business without giving up control Reduce your risk when taking on an investor Attract entrepreneurial employees who will care as much as you do Think about the $10 million milestone (and why it matters to private equity) Know when to take some chips off the table—and when to double down Ace management presentations with an acquirer Play hard to get (even when you want to sell) Get an acquirer to bump up their offer Max out an earn-out payment—even if you don’t quite hit your targets Spot an acquisition offer that’s likely to be re-traded…

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Ep 483 Exit Story: Frank Shultz on Escaping the 50/50 Trap and Buying Out a Partner 1:28:07

10 weeks ago1:28:07

1:28:07

When Frank Shultz co-founded Infinite Blue, he and his partner split ownership 50/50. The business thrived, but their working relationship soured. Frank wanted to buy out his co-founder, but with a valuation in the eight figures, he faced a daunting question: where would he get the cash?

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Ep 482 Exit Story: Bob Gilbreath — "The Adult Version of the Marshmallow Test" and How to Capitalize on an Earn-Out 1:17:00

11 weeks ago1:17:00

1:17:00

An earn-out is a deal structure where part of the sale price is contingent on the business hitting future performance goals. For many owners, it feels like a gamble—where the payout is uncertain, and the risks are high. But Bob Gilbreath flipped the script. He navigated two complex earn-outs across two service businesses and turned both into massive financial wins. In this episode of Built to Sell Radio, Bob shares how he turned the dreaded earn-out into his greatest asset.…

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Ep 481 After the Deal: What 70 Founders Reveal About Generational Wealth, the Achievement Trap & the Happiness Illusion 1:02:50

12 weeks ago1:02:50

1:02:50

Most founders focus all their energy on getting to an exit, but few stop to consider what comes next. In this episode of Built to Sell Radio, John Rood shares what he learned after selling Next Step Test Prep to private equity—and why he decided to write Beyond the Exit.

1
Ep 480 Exit Story: The $80M Deception—How Kevin Wagstaff Walked Away and Won 1:27:38

13 weeks ago1:27:38

1:27:38

When Kevin Wagstaff and his brother bootstrapped Spectora, a SaaS platform for home inspectors, with just $2,500 each, they never expected to one day face an $80 million acquisition offer. Spectora transformed the home inspection industry by replacing outdated paper reports with a digital platform that streamlined workflows, saved inspectors time, and enhanced the client experience. But when an acquirer attempted to re-trade the deal at the last minute—adding a $25 million seller’s note, a $10 million earn-out, and a 36-month call option—Kevin learned a hard lesson: just because an offer is on the table doesn’t mean the deal is done. The acquirer assumed Kevin and his brother would be too invested in the deal to walk away. But thanks to their advisor’s guidance, they stood firm. The result? The acquirer backtracked, offering the original terms. Kevin and his brother still walked, ultimately selling a majority stake at a $90 million valuation to a better partner.…

1
Ep 479 Exit Story: How to Attract a Fortune 500 Acquirer With Brock Weatherup 1:18:05

14 weeks ago1:18:05

1:18:05

Selling your business to a Fortune 500 company is a dream for many founders. Strategic acquirers often pay the most because they can integrate your business into their larger ecosystem. It’s rare to pull off even once—Brock Weatherup has done it three times. In this episode of Built to Sell Radio, Brock reveals the strategies that helped him attract Fortune 500 buyers like PetSmart and Petco. This episode is a roadmap for anyone who wants to sell their business to a strategic acquirer.…

1
Ep 478 After the Deal: When Can You Afford to Fly Private? with Preston Holland 1:21:01

15 weeks ago1:21:01

1:21:01

That’s why we created the After the Deal series on Built to Sell Radio. This series explores life after selling a business—delving into the personal, financial, and emotional transitions that come when work becomes a choice, not a requirement. In this episode, we speak with Preston Holland, author of Private Jet Insider and an expert in private aviation. Preston shares why private jet travel isn’t just for celebrities and explains how business owners use private aviation to buy back their most valuable asset: time.…

Built to Sell Radio

1
Ep 477 Inside the Mind of an Acquirer: Lessons from Analyzing Thousands of Real-Life Transactions 54:11

16 weeks ago54:11

54:11

This week on Built to Sell Radio , John Warrillow interviews Blake Hutchison, CEO of Flippa, the world’s largest marketplace for buying and selling digital businesses. With experience overseeing thousands of real transactions, Blake offers a unique window into the minds of today’s acquirers.

Built to Sell Radio

1
Ep 476 Exit Story: How Ben Landers Avoided an Earn-Out in His 8-Figure Sale of Blue Corona 1:11:25

17 weeks ago1:11:25

1:11:25

Ben Landers built Blue Corona, an 8-figure digital marketing agency focused on home service businesses, into a data-driven powerhouse. When it came time to sell, Ben achieved something extraordinary: a clean exit with no earn-outs, a rare feat in the service business world where earn-outs are practically the norm.…

Built to Sell Radio

1
Ep 475 Inside the Mind of an Acquirer: Adam Kerrigan on Selling His Service Business, Acquiring 16 More, and Moving From a 1X to a 15X Multiple 1:04:20

18 weeks ago1:04:20

1:04:20

Adam Kerrigan started as the owner of a managed service provider (MSP) business, which he built and eventually sold. After his exit, he joined the acquiring company to lead its M&A group, where he completed 16 deals and helped build a private equity-backed organization. In this episode of Built to Sell Radio, Adam pulls back the curtain on how acquirers often push for cashless deals, offering equity instead of cash—and how sellers can negotiate to ensure they get the deal they deserve.…

Built to Sell Radio

1
Ep 474 2024 Year-End Special: The Insider’s Guide to Maximizing Your Exit 38:37

19 weeks ago38:37

38:37

As we gear up for 2025, I wanted to highlight the top strategies covered this past year on Built to Sell Radio . These insights are designed to help you increase the value of your business and position yourself for a successful exit.

Built to Sell Radio

1
Ep 473 Exit Story: How Grace & Stella Survived a $28M Setback to Sell for 5.8x EBITDA 55:15

20 weeks ago55:15

55:15

Imagine personally guaranteeing millions in debt to fill a $28M order—only to have it yanked at the last minute. It nearly bankrupted founder Adi Gullia as well as Grace & Stella. Yet he overcame it all and sold at a 5.8x EBITDA multiple.

Built to Sell Radio

1
Ep 471 Exit Story: Kaelon Egan on Selling AccelaSchool to PowerSchool, Targeting Strategic Buyers, and Avoiding Earn-Outs 31:50

22 weeks ago31:50

31:50

In this week’s episode of Built to Sell Radio, John Warrillow interviews Kaelon Egan, the founder of AccelaSchool, who successfully sold his company to PowerSchool—a giant in the K-12 education technology space. For most founders, the ultimate dream is to sell to a strategic acquirer: a well-funded, industry leader with deep pockets. Egan shares exactly how he positioned his company to become a natural acquisition target, avoiding common pitfalls along the way.…

Built to Sell Radio

1
Ep 470 After the Deal: James Ashford on the Aftermath of Selling a 12-Employee Company for 8 Figures 1:20:36

23 weeks ago1:20:36

1:20:36

James Ashford built GoProposal with a clear goal: to sell. From designing the logo with potential acquirers in mind to rallying his team around the vision, James executed his plan with precision. The result? An eight-figure sale to Sage, a FTSE 100 company. But what happened after the deal? In this week’s Built to Sell Radio, part of our After the Deal series, James opens up about life post-exit. Selling a company can bring financial freedom, but as James reveals, it also comes with unexpected challenges.…

Built to Sell Radio

1
Ep 469 Inside the Mind of an Acquirer: The Private Equity Roll Up Playbook 1:10:55

24 weeks ago1:10:55

1:10:55

If you’re a business owner, chances are buyers are considering your industry for a roll-up. From veterinary clinics to auto body shops, pharmacies to advertising agencies—you name the industry, there’s probably a private equity firm looking to roll it up. This week’s episode is part of our Inside the Mind of an Acquirer series, where we dive into the strategies and motivations of different types of buyers. Jordan Dubin, co-founder of Guild, shares how he raised $35 million to create a roll-up of garage door companies and reveals what he looks for in a potential acquisition.…

Built to Sell Radio

1
Ep 468 The Hustler’s Guide to a Big Exit: How Shane Neman Conquered the Business of Partying 1:04:20

25 weeks ago1:04:20

1:04:20

What does it take to turn nightlife into big business? Med school dropout Shane Neman cracked the code on the nightclub industry, transforming its back office into a finely tuned, revenue-generating machine. From pioneering one of the first SMS platforms for small businesses to setting up his companies for top-dollar exits, Shane shares the technical strategies that turned his ideas into high-value assets.…

Built to Sell Radio

1
Ep 467 From High School Dropout to $419M Exit: Mike Fata’s Journey with Manitoba Harvest 52:52

26 weeks ago52:52

52:52

Few founders exemplify resilience like Mike Fata, co-founder of Manitoba Harvest. Growing up in a single-parent, low-income household, Fata dropped out of school in grade 10, struggled with health issues, and found himself weighing 300 pounds by age 18. A life-changing commitment to health led him to discover hemp as a nutritional powerhouse, sparking his path to founding Manitoba Harvest and building it into one of North America’s leading hemp food companies. In his interview on Built to Sell Radio, Mike dives into the journey that saw him go from construction worker to the sale of Manitoba Harvest to Tilray for $419 million.…

Built to Sell Radio

1
Ep 466 Building a $35M Home Services Business, Overcoming Personal Tragedy, Private Equity ‘musical chairs’, and Securing a 10x EBITDA Exit with Carrie Kelsch 55:39

27 weeks ago55:39

55:39

When Carrie Kelsch was encouraged to start a garage door business back in 2004, she had no experience in the industry. By 2022, her company, A Plus Garage Doors, was generating $35 million in revenue with 30% EBITDA margins. This week on Built to Sell Radio, host John Warrillow shares Carrie’s journey—from her first steps in the home services industry to the personal tragedy that ultimately pushed her to consider selling.…

Built to Sell Radio

1
Ep 465 Negotiation, Earn-Outs, and the Pitfalls of Stock Deals in His $4.6M Exit with Pete Neubig 50:47

28 weeks ago50:47

50:47

Pete Neubig started his entrepreneurial journey buying $35,000 houses with small down payments. After amassing 60 homes, he realized there was more money in managing properties for others. Pete shifted focus to building a property management company, handling maintenance and rent collection for over 1,000 homes, and eventually sold the business for $4.6 million or 1.75 times recurring revenue to an industry giant.…

Built to Sell Radio

1
Ep 464 Built to Flip: How to Buy, Build, and Sell a Business with Jim Lindstrom 56:33

29 weeks ago56:33

56:33

In this episode of Built to Sell Radio, Jim Lindstrom discusses how he acquired BuzzWord , a company specializing in ESG (Environmental, Social, and Governance) reporting. Lindstrom explains how he built a killer culture by transforming contractors into full-time employees and incentivizing them with a two-part profit-sharing scheme focused on cash flow and EBITDA, setting the business up for future sale.…

Built to Sell Radio

1
Ep 463 How Luke Peters Turned a Used Bar Fridge into an $80M Acquisition Target 59:56

30 weeks ago59:56

59:56

Luke Peters started off by reselling everyday appliances like bar fridges online. Eventually he built a brand and shifted to selling his products on big e-commerce retailers. Peters grew NewAir to $80 million in revenue before selling it for a lifechanging windfall in 2022.

Built to Sell Radio

1
Ep 462 Matt Ebert on Selling Control to Private Equity and Expanding Crash Champions to 645 Locations 57:11

31 weeks ago57:11