Every founder rehearses the speech. You gather the team, you tell them you’ve sold, and you hope the room is happy for you. Most owners who come on Built to Sell Radio say it went fine. Michael Filosi says that’s rarely the whole truth.
You may remember Michael from one of our most popular episodes this year. He bought a run-down dental practice in Adelaide, spent 10 years turning it into the biggest in the city with 10 chairs and 35 employees, then sold to private equity in 81 days with no earn-out, no equity roll and no retention period. A few weeks ago he published a LinkedIn post about his first 12 months after the sale that was so raw and candid we asked him back to explain.
The part that still stings is how his team reacted. Michael never raised his voice at a staff member, built the nicest staff room in town, and said good morning to everyone, every day. When he told them he’d sold, one walked out saying, “That’s a bit disappointing.” Another couldn’t look at him for three days. A year on, he says the reaction burned a hole in his soul. In this episode, you discover how to:
- Figure out in advance which employees are most likely to resent your exit (his came from reception, not the highly paid dentists)
- Stop refereeing staff squabbles and let a few fires burn before they wear you down
- Spot when you’re running your business on fight or flight, with your danger detectors stuck on high
- Brace for the people you invested the most in not meeting your moment the way you’d hoped
- Explain a sale to your kids (Michael used his fist for the business and his flat hand for the building)
- Understand why the same employees who complained now say they wish he’d come back
- Decide whether a decade of going all-in on your company is worth what it takes out of you
Michael says he can’t recommend the path he took, and he’s unusually honest about why. If the conversation with your team is still ahead of you, this is the episode to hear first.
Watch the full episode below.
Quote of the Week
I was so much more committed to you than what you were to me.
Dr. Michael Filosi describes how it felt to tell his 35 employees he had sold the dental practice he spent 10 years building.
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Deals
Challenge Pumps, an Australian company that makes specialized pumps used to remove water from underground mines, was acquired by Franklin Electric (NASDAQ: FELE), a global flow control and water systems company, for $181M. Challenge Pumps generated $18M in EBITDA on $52M in revenue in fiscal 2026, implying a valuation of 10x EBITDA.
