PE Activity in the MedSpa Market: (source: Solomon Partners)

When talking to private equity partners I sometimes like to challenge them by asking why is private equity better than hedge funds, or public companies for example? The very interesting answer I got recently: “It’s better because we can align with management by requesting that

I am the CEO and Founder of the nation's fastest-growing and largest painting franchise. We have grown to 372 locations over the last three years. And here is why I think Little Rock, Arkansas is a great un tapped market .

Stanford just released the 2024 search fund study It turns out, early to mid-career professionals can successfully acquire and operate businesses - contrary to the opinions of many experts here on X Notably, the IRR for companies in the study that have exited increased to 42.9%

I thought owning a Healthcare company would be a good investment But I didn't know we'd create $20.1 million of value in ~ 3 years If I were starting today, here's THE top Healthcare Rollup most likely to make you a Millionaire (according to me😉)

Lots of discussion on the PE runway in HVAC and other sectors like Pest Control. The short answer is that if you can buy a $25M EBITDA platform for 15-17x and do $2-3M add-ons for 10x, that still works. You are averaging down your multiple which is good. If you can apply

In my 20+ year PE career, I have found the easiest way to consistently make money is to play the multiple arbitrage between different size deals. Let me explain. ​ The data below is from GPScout on deals between 1996 and 2024. It is about 12K observations. Deals <$100M EV (think

Private schools are great subscription businesses and so M&A consolidation (rollups) have been and are becoming a hotter area Consolidators include: * Nord Anglia * GEMS Education * Cognita Schools * Inspired Education Group * International Schools Partnership (ISP) *

Roll ups are becoming a bigger and bigger part of PE. The data below says that half of add-on deals are now the 4th or later. So how do these deals work? The core to any buy and build is simple size based multiple arbitrage. If you can buy 20 $1M EBITDA companies for 5x and

What company is simultaneously the most profitable and the most hated? I’ll go first: Oracle software. Everyone buys it. Everyone hates them.

General SMB SDE Multiple Ranges Based on SDE size: $750K-1M = 3.5-5X $250-750K = 2.5-4X $100-250K = 1.5-3X <100K = Crapshoot or Asset Approach Of course there's exceptions by industry and all kinds of other factors, but this is probably 90%+ of deals.

I think countries should do M&A. Like they make acquisition offers to other countries to buy the entire country. And citizens vote on the deal. If you agree, who should the USA make an acquisition offer to first? And why?

NFL M&A. What each team was last purchased for and when.

Microsoft just released a list of 40 jobs most vulnerable to AI

My annual MRI scan gives me a USB stick with the data, but you need this commercial windows software to open it. Ran Claude on the stick and asked it to make me a html based viewer tool. This looks... way better.

8 things I wish I knew before selling my company for $115,000,000.