Acquisition Partnership
Buy it with the people who will help you run it.
For experienced operators buying a first company, vetted searchers, and owners doing an add-on, in Indiana and about four hours around it. We evaluate the deal, build the capital stack across debt and equity, run the diligence, help you close, then take the CFO and operating partner seats from day one, with the same two people throughout.
From the letter of intent to Day 100
Five stages, and what you receive at each one.
How this usually starts
Several letters of intent, one deal, one quality of earnings.
The buyers we talk to sign two or three letters of intent before one closes, often lining up a different lender for each, and expect to buy one business. They shouldn’t pay for a full review on each, so the work runs in that order. A read of each deal, a decision, then the Quality of Earnings and the operational read on the one that survives. Two terms come up on nearly every file: cash left in the business for the months after close, so the new owner is not borrowing working capital in month two, and a seller note tied to the transition of the customer relationships, so the seller has a reason to make the introductions. Both are settled before the letter is final.
Structure
We take nothing from any lender, so the structure fits the business.
Senior debt, the seller note and its standby terms, the equity gap and who fills it, and day-one working capital are each sized against what the business can carry. We are paid the same whether the deal closes on a 7(a) loan, a conventional loan or seller financing. On an SBA deal the lender’s quality of earnings comes from an independent firm, and our work for you sits beside it.
Three ways to build a deal team
Most buyers assemble their own team, some join a program, and a few bring in a partner.
Seven questions to ask of anyone you are considering, including us.
Ryan Anoskey, CPA
Partner
Jared Luegers, CFA
Founder and Managing Partner
The partners
Two partners, and the credentials they bring.
Ryan Anoskey, CPA, has run more than 100 quality of earnings reviews, buy-side and sell-side, and spent five years in transaction advisory at Blue & Co., where he built the quality of earnings model the practice ran on. He leads the numbers. Jared Luegers, CFA, spent nearly six years in equity research, then moved to the operating side, inside an independent sponsor’s businesses, where he supported operations through the $190 million sale of Gladieux Energy, and then served on the executive committee of Valeo Financial Advisors, an Indiana registered investment advisor with $9 billion under management. He leads the operational read and the operating partner seat. We are taking our first two operators and will say so on this page until two deals have closed.
Day one onward
The seats start the day the wire clears.
The CFO seat owns the monthly close by a set day, the 13-week cash view and the lender reporting. The operating partner seat owns the plan the diligence wrote, three to five initiatives, each with an owner, a date and a measure, re-read every quarter. One seat or both, on the same terms as every embedded engagement; the cadence and the six-month minimum are on the CFO & Operating Partner page.
Get started
Bring the deal you are closest to.
A thirty-minute call about the business, the lender and the letter. If the deal is better served by independent diligence alone, we’ll say so and quote that instead.