It can be frustrating to build toward an exit when every buyer seems to have investment criteria just above where you’re at. It can feel like you’re always a half step short.
Chris Hutchins shows another path. He sold Grove to Wealthfront despite having almost no revenue and negative profitability. Before that, he sold Milk to Google on the strength of product and team alone. Same lesson both times: a strategic acquirer may pay for what you’ve built, not what you’ve earned.
In this episode of Built to Sell Radio, you’ll discover how to:
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Package assets a strategic may value now (product, team, roadmap, customers, even your lease)
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Position your story so a buyer sees day-one lift from plugging you in
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Run a fast, momentum-led process that invites quick noes and surfaces real interest
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Split assets across buyers to improve the total outcome
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Protect employees and customers while you move quickly
If you’re courting a strategic acquirer, this episode will help you punch above your weight.
Quote of the Week
The easier you can make it for someone else to say no, the more you’re going to spend time with people who might say yes.
Deals
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The Edward, a boutique 90-suite retirement residence in Calgary, AB, has been sold for $53 million by its previous owners, Chartwell Retirement, valuing the property at approximately $589,000 per suite. Built in 2019, The Edward offers private-pay independent living in the upscale Marda Loop neighbourhood, with amenities such as a creative arts studio, rooftop garden, and luxury chauffeur service.
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Red Devil Equipment Company (“Radia”) has been acquired by Graco Inc. (NYSE: GGG) for $69 million, valuing the business at just over 2.3 times revenue. Radia manufactures mixing, shaking, and automated material-handling equipment for the growing paint and coatings industry.
