A lot of founders obsess over: The industry multiple What competitors sold for, What brokers promise, What “the market” is paying But here’s the reality: 📌 Multiples don’t exist in isolation; they’re earned through structure, not hope. Two businesses with the same EBITDA can sell for very different outcomes. The difference usually comes down to: ➡️ Risk perception. When we prepare a company properly, we focus on reducing buyer anxiety by: ✔ Normalising owner involvement ✔ Proving earnings quality ✔ Locking in key customers ✔ Documenting systems and processes ✔ Showing a credible post-close growth plan That’s how you move from: “Average deal” → “Competitive process.” And that’s when numbers start working in your favour.

Financial assistance in Australia and its impact on leveraged buyouts In Australia financial assistance is governed by section 260A of the Corporations Act 2001. The rules are highly relevant to leveraged buyouts because acquisition debt is usually secured or guaranteed by the target group after completion. Without compliance this support can be unlawful. Financial assistance occurs where a company helps a person acquire shares in itself or its holding company. In an LBO this commonly includes guarantees for acquisition debt granting security over assets or upstream loans or distributions used to repay the acquisition facility. The concept is interpreted broadly and does not require the company to pay the purchase price directly. Permitted ways to give financial assistance: A company may give financial assistance if one of the following applies. First the assistance does not materially prejudice the interests of the company its shareholders or its creditors. In practice this is difficult to rely on in leveraged buyouts because increased leverage and security can change the company’s risk profile. Second the assistance is approved by shareholders under the whitewash procedure in section 260B. This is the most common and lowest risk approach in LBO transactions. Third a limited statutory exemption applies although these are rarely relevant in buyout structures. The whitewash process in practice The usual LBO structure is for the acquisition to complete without the target group giving guarantees or security. The whitewash is then completed post completion allowing the target group to accede to the finance documents and grant security. The process involves the following steps: Directors pass resolutions approving the proposed financial assistance calling a general meeting if required and approving the explanatory statement. Directors should consider solvency and creditor impacts and ensure their duties are properly addressed and minuted. Shareholders then approve the financial assistance by special resolution meaning seventy five percent of votes cast in favour.

A lot of founders wait for: - The perfect quarter - The perfect valuation - The perfect buyer - The perfect market - The perfect team structure But here’s the truth: 📌 There is no perfect time — only prepared founders and unprepared ones. The businesses that exit for premium multiples have one thing in common: ➡️ They start preparing 12–24 months before they intend to sell. This allows us to: ✔ Strengthen recurring revenue ✔ Restructure financials ✔ Clean up customer concentration ✔ Position the company for strategic buyers ✔ Build a competitive market of interest That’s when you see outcomes like: 💥 28% above broker appraisal 💥 Multiple offers within weeks 💥 80% cash up front 💥 Strategic buyers instead of “whoever is looking” If you want to understand what your exit could look like, comment “yes” and I’ll send you the questions we use to assess valuation + exit options.

We’re currently working with a major international group that is exploring selective, high quality acquisition opportunities in the UK building products distribution space. If you’re a dealmaker, advisor, broker, corporate finance partner or industry insider, I’d welcome any introductions or off market opportunities that fit the criteria below. What we’re looking for: - UK based (with a preference for Southern England) - Distribution businesses only – no manufacturing - Sells into: • Social housing / housing associations • Local authorities • Maintenance & refurbishment contractors • Facilities management providers • General building, plumbing, bathroom, or kitchen products - Strong management team in place - Not distressed or turnaround situations - Suitable scale to complement an existing £40M UK revenue base Ideal profiles include: - Building products distributors with framework agreements - Plumbing & bathroom distribution businesses - Kitchen/joinery distribution businesses - Compliance related product suppliers (fire safety, ventilation, water systems, etc.) - Regional merchant networks with distribution hubs If you’re aware of any relevant businesses—or would be happy to make an introduction—I’d really appreciate it. All conversations are handled with absolute confidentiality. Feel free to message me directly here.

Here’s the #1 mistake founders make when thinking about an exit: 👉 Waiting until they’re ready to sell before preparing. By then, it’s often too late to: - Clean up the financials - Reduce customer concentration - Position the business strategically - Build competitive tension - Maximise valuation The founders who win start 12–24 months ahead. That’s when we can: ✔ Reposition the business ✔ Build a buyer list ✔ Run a competitive outreach process ✔ And secure 5+ qualified offers If you want the 10-point checklist we use to assess readiness, comment Checklist below.