Insights Blog

In the dynamic landscape of the dairy industry, mergers and acquisitions (M&A) serve as crucial strategies for companies aiming to expand market share, diversify their portfolios or [...]

Buying a business is one of the most complex activities that a business owner can make.  There is a lot to think about and do, many pieces of paper to […]

Mergers and acquisitions in the lower middle market are not what they were 40 years ago. Today’s buyers are among today’s buyers, private equity firms, independent sponsors, search [...]

In the competitive landscape of business, standing still equates to falling behind. Business owners constantly seek ways to accelerate growth, and one of the most strategic moves is acquiring [...]

by Jason Salisbury The landscape of business acquisition is ever evolving. Among the traditional players like corporate buyers and private equity firms, there’s another breed of business hunter: [...]

We’re coming off a recalibration year for M&A. While 2021 and 2022 saw record activity, the first half of 2023 was marked by significant declines. Inflation, interest rates, increased capital [...]

Supply chain issues are a big concern for businesses right now. Forced shutdowns, crisis forecasting, labor issues, and logistics all played (or are still playing) a part in the current […]

When you’re ready to retire, or exit your business, you may think selling to a competitor is your only option. But competitors are seldom your best buyer. They’re rarely willing […]

For financial advisors, a business owner’s exit can be a major opportunity – but new research suggests those client relationships may be more vulnerable than expected. Cornerstone’s 2025 [...]

By Scott Bushkie For most business owners, a company is far more than a financial asset. It represents years (often decades) of sacrifice, risk-taking, long hours, and personal identity. It’s [...]

A recent national study of 750 U.S. business owners revealed a striking gap between exit expectations and preparations. Nearly half (48%) of business owners between the ages of 45 and […]

For many business owners, signing a Letter of Intent (LOI) to sell their company feels like crossing the finish line. In reality, it’s the start of the most demanding phase […]

How the power of multiple offers gives CEOs back the leverage “What’s it going to take for you not to sign with them?” That was the question one of our […]

What Makes a Great Business Owner Can Make a Poor Seller  After 25 years of working with remarkable founders and entrepreneurs, I’m still struck by one thing: The same traits […]

When selling a business, most transactions are done on a “cash-free debt-free” basis. That means the buyer will acquire the company without taking on any of its long-term debt and […]

For more than a decade, economists and M&A advisors have been warning of the “silver tsunami.” The phrase describes what happens when Baby Boomer business owners—a generation that founded, [...]

Over 27 years in M&A, I’ve worked with some of the smartest, grittiest entrepreneurs you’ll ever meet. These are people who built companies from scratch, solved complex problems, led teams, [...]

We’re coming off a recalibration year for M&A. While 2021 and 2022 saw record activity, the first half of 2023 was marked by significant declines. Inflation, interest rates, increased capital [...]

After centuries of leading Christmas, Inc., Santa Claus is looking to sell the business and enjoy retirement life in Florida. He has hired an investment bank and has been putting […]

A significant number of business owners do not know how much their business is worth. That can be a source of conflict in the face of unfortunate events such as […]

Buying a business can be a complicated process. Even when the financials look good, there are a number of reasons a buyer might walk away from a deal. Understanding these […]

We’re selling a business in which a management team member holds a minority equity stake. This critical employee stands to get a small windfall in the sale. On top of […]

You can practice some back of the napkin math to value a company, but it’s not always reliable. A company with $3 million in EBITDA, may, as a general rule […]

You’ve decided to sell. Now how can you get the most for your business? Real estate principles apply, so you’ll want to clean house and maximize your curb appeal. But […]

Labor issues are affecting the M&A market. For some business owners, it means decreased value because they can’t find people to maintain operations or replace the owner after a sale. […]

Accurate financial statements are critical to a successful sale. Will your books survive the scrutiny of an audit? Are revenues realized in accordance with GAAP standards? Are your forecasts [...]

Financial buyers are long-term investors looking to generate financial returns by acquiring a business. Financial buyers look to generate cash flow by boosting sales, cutting costs, or creating [...]

These are private family firms established by high net worth families to manage their wealth. Much like private equity firms, family offices will acquire, grow, and then re-sell a business […]

This term refers to how much cash the seller receives the day the transaction closes. Sellers typically receive the majority—but not all—of the purchase price as cash at close. Additional […]

A deal room is a secure, virtual space where buyers and sellers can share and exchange confidential information related to a potential transaction. Information is typically stored and accessed [...]

Seller discretionary earnings (SDE) and normalized EBITDA are two common measures used to assess the profitability of a business. While they are both used to determine a business’s value, [...]

When selling your business, you make a set of promises to the buyer. You “represent and warrant” certain facts about the business. Essentially, you’re certifying that you provided accurate [...]

A Confidential Information Memorandum (CIM) is a summary of your business used to help pre-screened buyers determine their interest. A CIM contains overview information about your operations, [...]