Insights
What buyers know, written down for founders
You will sell a business once. The people across the table buy companies for a living. These articles and the glossary are here to close that gap before it costs you.
Articles · M&A
How a sale really works
How buyers set a multiple, why add-backs fail, what a letter of intent is really saying, and when to keep a stake. Each article is built on a chapter of The FNDRS Playbook. Read them before you talk to anyone, including us.
Element by element
Hear the elements explained
FNDRS Faculty explain the FNDRS Elements one at a time: what it is, what it means to a buyer, and where an owner starts. Choose a tile to watch it here: 18 of the 36 have a session of their own so far, and the rest play their part of their family's film.
Troy HoffmanTime
Glossary
The terms buyers use, in plain language
25 terms from the sell-side process, each with its own page: what it means, what it changes in a sale, and where it comes up in the articles and the playbook.
- Add-back
- Adjusted EBITDA
- CIM
- Competitive tension
- Data room
- Earn-out
- EBITDA
- Enterprise value
- Equity value
- Escrow and holdback
- Exclusivity
- GTMA
- Indication of interest
- Letter of intent
- Management meeting
- Multiple
- Net proceeds
- Quality of Earnings
- Recapitalization
- Rollover equity
- Second bite
- Seller note
- Strategic buyer
- Teaser
- Working capital peg
Every engagement begins the same way
A confidential conversation about objectives, timing, and options. No pitch. No obligation.