Sell Side

In this episode of the Sell Side Podcast, we sit down with Wilbur to take a deeper dive into one of the most active areas in private equity today: roll-up strategies in fragmented service industries.We break down why sectors like landscaping, HVAC, pest control, and pool services have become prime targets for investors—and what makes these businesses so attractive for acquisition and growth.From recurring revenue and customer retention to EBITDA, multiples, and working capital, this conversation walks through the key factors that drive valuation and buyer interest. We also explore the differences between residential and commercial revenue, why maintenance contracts matter more than installs, and how operational efficiencies can dramatically increase a company’s value.Beyond the numbers, we cover what buyers are really looking for—strong teams, clean financials, low customer concentration, and scalable systems—and how business owners can position themselves for a successful exit.Finally, we break down the different types of buyers—from strategic acquirers to private equity groups and family offices—and what each path means for life after the deal.If you own or operate a service-based business, this episode is packed with insights on how to grow, scale, and ultimately maximize the value of what you’ve built.🎙️ Listen now to learn how small businesses are being transformed into major opportunities through smart strategy and consolidation.

In this episode of Sellside Shorts, Michael Stanley breaks down key estate tax considerations business owners should think about before selling their company. He explains the current estate tax exemption thresholds, why a successful sale can quickly create taxable estate issues, and how early planning can make a major difference in preserving wealth for your family.Using a recent real-world example, Michael walks through how a business owner couple used Spousal Lifetime Access Trusts (SLATs) and early valuation planning to transfer equity before a sale, helping reduce future estate tax exposure. This episode is a practical overview of why exit planning should include more than just the transaction itself and why involving an estate attorney early can lead to meaningful tax savings and smoother family outcomes.https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/

In this episode of The Sell Side Podcast, Builder Brock shares the story behind Waypoint — from producing fishing TV shows to building a leading outdoor streaming platform in the FAST space.He walks through the pivotal Samsung breakthrough, the evolution from app-first thinking to distribution-first strategy, and what it was like to receive — and ultimately turn down — multiple acquisition offers. Builder breaks down what buyers actually value, how the team shifted focus from vanity metrics to profitability, and why Waypoint chose to stay bootstrapped and in control.https://waypointtv.comhttps://www.linkedin.com/in/builderbrock/https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/

In this episode, Michael Stanley  breaks down one of the most important documents in any business sale: the purchase agreement.Michael walks through how the purchase agreement serves as the final, definitive contract that officially transfers ownership once the deal closes and funds are wired. He explains how this document is developed alongside the due diligence process, beginning after the Letter of Intent and evolving as buyers verify financials, operations, and risk.The conversation covers what actually goes into a purchase agreement, including net working capital true-ups, seller representations and warranties, and how different deal structures like seller notes, earnouts, and rollovers are documented. Michael also explains how legal teams negotiate the agreement throughout due diligence and how everything comes together at closing.Whether you’re a founder preparing for an exit or just trying to better understand how deals actually get done, this episode offers a practical, real-world look at what happens between LOI and close.https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/

On this episode of Sell Side, host Michael Stanley sits down with Shelby Ashley, founder of Optimized Financial Solutions, to unpack what small business owners often misunderstand about their finances—and how that confusion can limit growth, cash flow, and exit opportunities.Shelby shares her journey from corporate financial analyst to fractional CFO and explains why most businesses outgrow basic bookkeeping long before they’re ready for a full-time CFO. The conversation dives into cash vs. accrual accounting, why profit on paper doesn’t always mean money in the bank, and how forward-looking financial strategy helps owners regain clarity and confidence.Michael and Shelby also explore the M&A side of small business finance, including preparing a company for sale, internal succession planning, common valuation mistakes, and how buyers should evaluate cash flow, debt, and operational risk before acquiring a business. Along the way, Shelby offers practical advice on hiring, forecasting, and removing the owner from day-to-day operations so the business can truly scale—or sell.Whether you’re overwhelmed by your numbers, thinking about an eventual exit, or considering acquiring another business, this episode delivers grounded, real-world insight into what healthy financial leadership actually looks like.https://optimizedfinancialsolutions.comhttps://www.linkedin.com/in/shelby-ashley-mba-a72903b9/https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/overlay/photo/

In this episode of Sell Side Shorts, Michael Stanley breaks down one of the most critical documents in the M&A process: the Letter of Intent, or LOI. He explains what an LOI is, when it shows up in a transaction, and why it represents a major turning point for business owners considering a sale.Michael walks through what an LOI typically includes, such as purchase price, deal structure, timing, exclusivity, and key contingencies. He also explains how an LOI differs from an indication of interest, why leverage often shifts once exclusivity is signed, and what happens during the pre-sale due diligence phase that follows.If you’re a founder or business owner thinking about selling your company, this short episode provides a clear, practical look at why the LOI is the first real commitment in a transaction and why it deserves careful consideration before signing.

In this episode of the Sell Side Podcast, Michael Stanley sits down with Wilbur Ellis to break down platform acquisitions, add-on strategies, and what they mean for founders navigating today’s M&A landscape. They unpack how private equity groups execute buy-and-build strategies, what makes certain markets attractive, and why many business owners are surprised by the value and flexibility these deals can offer. The conversation also dives into unsolicited offers, common pitfalls, and how running a professional, competitive process can significantly impact valuation. Whether you’re building toward a platform transaction or considering an add-on exit, this episode offers practical insight into preparation, timing, and maximizing outcomes for founders.https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/

In this episode of Sell Side Stories, we break down one of the most fundamental concepts in business valuation: how EBITDA and multiples work together to determine a company’s true enterprise value. We explore why EBITDA—earnings before interest, taxes, depreciation, and amortization—is used to normalize profitability and reveal a business’s real free cash flow.From there, we dive into valuation multiples, unpacking how risk, industry dynamics, market trends, and strategic fit all influence where multiples land. We also discuss common EBITDA adjustments, including pro forma add-backs and one-time expenses, that can shape the final valuation picture.Whether you're preparing to sell, exploring acquisition opportunities, or simply wanting to understand how buyers assess value, this episode offers a clear, practical breakdown of the mechanics behind business valuation.

In this Sell Side Shorts episode, we break down the real mechanics behind how small-to-mid-sized businesses are bought and sold beyond the simple “cash at close” model everyone thinks of.Michael walks through common deal structures, including:💵 Cash at Close — the straightforward “check at closing” approach🧾 Seller Notes — when sellers effectively finance part of the deal to bridge valuation or risk📈 Earn-Outs — tying a seller’s payout to the future performance of the businessYou'll hear why these structures exist, how they allocate risk between buyer and seller, and the tax implications sellers should understand when evaluating their sale options.Whether you're considering selling your company or just want to understand how deals actually get done in the real world, this episode gives a clear, concise look at modern transaction strategies.

Michael sits down with Scott Smith, founder of True Network Advisors and executive at Patriot Growth Insurance, for a candid, deep-dive into how a “lifestyle business” became a 90+-agency enterprise—and what owners need to know before they sell. Scott traces his path from starving insurance salesperson in Atlanta to building Metro Benefit Consultants, returning to Alabama, and ultimately launching True Network Advisors in 2016 after a peer study-group inspired a bigger idea: a founder-run association laser-focused on helping independent agencies grow.They unpack the pivotal moment when True’s collaboration model evolved into an industry roll-up, culminating in the formation of Patriot Growth Insurance in 2019. Scott shares what he wishes he’d known going into private equity: why deal structure matters more than headline price, how to evaluate buyers (and their PE sponsors), the danger of “squeezing” a valuation you can’t operate to, and why sellers must protect operating room post-close. He also covers the emotional side of exit—deciding what you really want the next 5–10 years to look like, shifting from “me” to “we,” and taking quiet control of a process that can otherwise run you.

On this installment of Sell Side Shorts, we’re breaking down the essentials of working capital in a transaction. Using a simple car dealership analogy, we explore why buyers expect a business to come with “enough fuel in the tank” to keep running after the deal closes.You’ll learn:The basic formula behind working capital (current assets minus current liabilities.Why buyers look at 12-month averages to set a fair target.Common adjustments, like excess cash or deficits, impact negotiations.How escrow and purchase agreements address gaps between buyer and seller expectations.Whether you’re preparing to sell or just want to understand how working capital impacts deal value, this episode gives you a straightforward overview of a complex but critical topic.

In this episode of The Sell Side Podcast, host Michael welcomes Wilbur Ellis, a seasoned investment banker with deep roots in Huntsville. Wilbur shares his journey from speechwriting in Washington, D.C., to law and business school at the University of Virginia, and ultimately into decades of investment banking experience with firms like Morgan Keegan, Dane Rauscher Wessels, RBC Capital Markets, and Stephens.Together, Michael and Wilbur explore the unique challenges and opportunities facing family-owned businesses as they prepare for succession or sale. They discuss the differences between working with large public companies versus founder-led businesses, the importance of early planning, and how strategies like succession planning, pre-sale preparation, and understanding the buyer universe can maximize value.Wilbur also reflects on memorable deals, lessons learned, and why helping family businesses transition successfully has become his passion. The conversation highlights how their partnership is bringing expanded capabilities to Kill Point, offering family business owners not just transaction expertise but long-term advisory support designed to protect and grow value ahead of an exit.If you’re a founder, family business owner, or simply interested in the nuances of middle-market M&A, this episode offers valuable insights into preparing for a successful transition.https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/

On this episode of Sell Side Shorts, we dive into one of the most important – and often overlooked – aspects of selling your business: choosing the right professional team. For many founder-owners, the sale of their company is a once-in-a-lifetime event. While it’s new territory for them, the professionals they bring to the table handle these complex transactions every day.We break down the key players every owner should consider:M&A Attorney – to negotiate letters of intent, purchase agreements, and ensure deals get across the finish line.Tax Advisor/CPA – to keep a close eye on the numbers and structure the deal in the most tax-efficient way.Investment Banker – to craft the story, market the business, attract multiple buyers, and drive competitive pricing.Wealth Advisor – to plan for what comes after the sale, ensuring the proceeds are allocated wisely and aligned with the owner’s long-term financial goals.Together, these professionals form more than just a checklist – they’re a team. When they know each other and work seamlessly, the process runs smoothly, negotiations are stronger, and the outcome is better for the seller. We also discuss why aligning incentives and fees is critical to making sure everyone is rowing in the same direction.Whether you’re just beginning to think about an exit or are already deep into planning, this episode will give you the clarity and confidence to start building your own winning team.

On this episode of The Sell Side Podcast, host Michael Stanley sits down with Hayden Worsham, fourth-generation leader of Worsham Brothers, a Corinth, Mississippi–based general contractor celebrating 80 years in business. Hayden shares the company’s remarkable origin story—launched in 1945 with $1,500 by three Ole Miss–trained civil engineers fresh from World War II—and how Worsham evolved from highways and bridges to a boutique commercial contractor serving Mississippi, Alabama, Tennessee (with work in Kentucky and Arkansas).Hayden traces his own path—from civil engineering and national consulting work to high-growth GC experience in Atlanta—before returning home in 2022 to acquire the firm through a company-first, metrics-driven earn-out. He details the turnaround playbook: doubling down on people, restoring confidence with weekly wins, and modernizing operations with integrated project management and accounting systems so field teams can make real-time decisions on site.The conversation tackles resilient culture (decades-long employee tenures), the value of a boutique GC experience, and a disciplined view of growth—prioritizing strategic partners, healthy pace, safety, communication, and doing what you say you’ll do. If you’re interested in succession, buying a family business, or how a mid-market contractor differentiates in the Mid-South, this one’s a masterclass in legacy, leadership, and operational excellence.

n this installment of Sell Side Shorts, we break down three essential pieces of the M&A process: teasers, SIMs (Confidential Information Memorandums), and the all-important financials.We start with the teaser — a one-page, anonymized overview that highlights the key points of your business and sparks initial buyer interest. From there, we explain the SIM, the more detailed document provided after interest is shown and an NDA is signed, which tells the full story of your business with history, financials, and strategy.Finally, we dive into why financials receive so much attention early in the preparation phase. Numbers ultimately tell the story to potential buyers, and presenting them clearly and effectively can make all the difference in showing the true value of your business.If you’re preparing for a sale, this episode gives you a straightforward look at how these documents fit together and why they matter in setting the stage for a successful deal.

In this episode of The Sell Side Podcast, host Michael Stanley sits down with Rob Murphy, co-founder of Vervic, to unpack his unconventional journey into the recruiting world.Rob shares how he went from struggling to land a sales job in early 2020 to launching a recruiting firm in the middle of COVID — and growing it into a successful, people-first company. He discusses the steep learning curves of both recruiting and business ownership, the importance of building a team you truly enjoy working with, and how an unexpected merger with Passion HR transformed their slow-and-steady lifestyle business into a fast-growing, $10M vision.From lessons on hiring only top performers to navigating culture merges, Rob offers candid insights for entrepreneurs considering inorganic growth, building strong company cultures, and finding the right people to go into business with.If you’re interested in recruiting, HR, or the realities of scaling a service business, this episode delivers both the strategy and the human side of growth.https://www.vervichr.com

In this special episode of The Sell Side Podcast, host Michael Stanley breaks down the M&A process from start to finish, offering a 30,000-foot view of what it looks like to sell a business with the help of an investment bank or business broker. From setting financial goals and evaluating estate planning needs to navigating NDAs, IOIs, and LOIs, Michael shares the key milestones and decision points that shape a typical transaction. Whether you're a business owner thinking about selling or just curious about the inner workings of M&A, this episode offers a clear, concise look at what to expect—and where a trusted advisor fits into the picture.

In this episode of The Sell Side Podcast, host Michael Stanley talks with Brent Thompson, President of NextGen Crane and Rigging. Brent shares how his family’s 45-year-old welding business evolved into a fast-growing crane and rigging company, the decision to launch a separate brand, and why expanding into Huntsville was a pivotal move.He also discusses building a strong team culture, transitioning leadership with his father, and finding new growth opportunities in project management for mission-critical infrastructure.If you’re interested in family business succession, company culture, or scaling a service business, don’t miss this conversation.

In this episode of The Sell Side Podcast, host Michael Stanley sits down with Josh Wolfe, founder of WolfeCo. Media, to unpack his unexpected journey from English major and banker to creative entrepreneur and agency owner. Josh shares how a love for storytelling shaped his career path—from editing national publications to launching a full-service marketing agency in the middle of a pandemic.Josh opens up about the realities of building a business from the ground up, including the challenges of learning operations as a right-brained creative, navigating team growth, and staying grounded in company culture. He shares his approach to character-first hiring, why authenticity in storytelling builds stronger brands, and how WolfeCo. is evolving with big goals in mind.Whether you're a creative professional, business owner, or just exploring what it means to grow something meaningful, this episode is packed with insight and heart from someone who’s lived the journey—mistakes, mindset shifts, and all.

Casey Templeton of Stacks LLC shares the realities behind rapid growth—how they hit a huge milestone in 2024, why profitability isn’t everything, and the hidden pressure fast scaling puts on your people and processes.https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/https://www.linkedin.com/in/caseytempleton/

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Chase Wortman of Outpost Technologies joins The Sell Side Podcast to talk about:🔹 The who in hiring—why people matter just as much as skills 🔹 Building something bigger than yourself 🔹 Optimizing, automating, and making every process more efficient Don’t miss this conversation on strategy, growth, and smart decision-making.https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/https://www.linkedin.com/in/chase-wortman-09a039163/

Success isn’t accidental—it’s built on strong culture, systems, and wise counsel. In the latest episode of The Sell Side Podcast, Lee Barkley of Sovereign’s Capital shares how investing in people, fostering human flourishing, and surrounding yourself with trusted advisors leads to better business outcomes. It’s not just about numbers—it’s about impact. Listen now! 🎙️

Colin Perry, CEO of Perry Weather, shares the journey of his weather technology business and the challenges he faced in merging meteorology with software. Perry Weather specializes in providing real-time site-specific weather monitoring and alerting solutions for various industries. The company initially started as a weather consulting firm but quickly pivoted to a software-based model. Perry Weather's competitive advantage lies in its combination of state-of-the-art software and hardware. Th...

Thomas Dixon, a healthcare M&A advisor, shares his background and experience in the healthcare industry. He discusses the transition from being a buy-side M&A person to working on the sell side, representing healthcare entrepreneurs. He emphasizes the importance of representing the seller's interests and the fulfillment he finds in helping entrepreneurs. Thomas also talks about the current state of the healthcare market, including the record amount of dry powder in healthcare private ...

In this podcast episode, Michael interviews Justin Burney, a partner in the corporate securities group at Bradley, about mergers and acquisitions (M&A) transactions. They discuss the overall M&A process, including when to engage in a transaction and the role of a letter of intent (LOI). They also highlight key considerations and pain points in M&A deals, such as financial statement preparation and tax representations. The conversation includes a case study of the MedTherm transact...

Vaughn McCrary, a Founders Advisors, discusses the process of engaging founder-owned businesses and the differences between investment banking and their niche approach. We use the Medtherm transaction discussed in the first episode as a reference to the conversation. He highlights the importance of building relationships with clients and helping them prepare for a transaction. Vaughn also shares common mistakes made by founders and the timeline of a typical transaction. He emphasizes the sign...

In this podcast episode, Dale shares his journey from being an auto body technician to obtaining a PhD from MIT and starting his businesses. He discusses the unique approach and success of Medtherm's products and the process of preparing for the sale of the company. Dale highlights the importance of building the right team and dealing with challenges during the deal process. He also shares his plans, which involve enjoying fishing and spending time in Montana. https://keelpoint.com https://w...