Two Bites of the Apple: Selling to PE Without Losing the Upside W/ Matthew Barrett & Brian Franco

Enterprise value isn't created at the negotiating table. It's created two to three years before it. This week Matthew Barrett, Managing Director of Business Development at Aprio, returns for his second appearance to break down exit prep, quality of earnings, and why rolling 20% of your equity forward with the right independent sponsor can end up worth more than the 80% you already cashed out. In this episode, you'll learn: 00:00 – Why integration actually starts at preparation, not post-closing 06:42 – A real case: the buyer's first move post-closing was fixing due diligence mistakes 08:48 – How proper prep took one client from 5.5x to 7.5x EBITDA in under a year 13:18 – Why customer concentration and profit-by-service-line are common blind spots 20:09 – How the independent sponsor model is reshaping middle-market private equity 26:00 – Two bites of the apple: why a closing table isn't a retirement announcement Matthew Barrett oversees Aprio's private equity go-to-market strategy, working closely with the firm's Transaction Advisory Services, Valuation, Technical Accounting, Audit, and Tax practices nationally, and across the broader M&A ecosystem of investment bankers, sell-side advisors, deal attorneys, independent sponsors, and family offices. If you're a founder thinking about a future exit, or wondering how to sell without losing the upside, this episode will change how you think about the entire process. 🎧 Listen or watch: Spotify: https://open.spotify.com/episode/11Yi... Apple Podcasts: https://podcasts.apple.com/us/podcast... 📘 Get my book, Inevitable Exit: https://inevitableexit.com 🎁 Free download: The 10 Fatal Mistakes That Kill Your Exit and Steal Your Legacy: https://inevitableexit.com 📅 Book time with my team at Meritage Partners: https://ro.am/meritage-partners/meet-... 🚀 Join us at Empire Builder: https://empire-builder.com Connect with Matthew Barrett: LinkedIn: linkedin.com/in/matthewwbarrett Email: [email protected] Aprio: aprio.com #MandA #ExitPlanning #EnterpriseValue #PrivateEquity #BusinessGrowth #DueDiligence #MeritagePartners #TheMAGuyPodcast Brian Franco is the Founder & CEO of Meritage Partners, author of Inevitable Exit, and the creator of Empire Builder. He helps founder-led businesses build real enterprise value and prepare for the future. On this channel, we share insights on M&A, exit strategy, business growth, leadership, and building companies that scale beyond the founder. 👍 Like the video 🔔 Subscribe and hit the notification bell so you don’t miss new episodes and insights 🎧 Listen to The M&A Guy Podcast Spotify: https://open.spotify.com/show/7duZnps... Apple Podcast: https://podcasts.apple.com/us/podcast... 👤 Follow Brian Franco LinkedIn: LinkedIn: briantfranco Facebook: https://www.facebook.com/profile.php?... Instagram: Instagram: brian_t_franco TikTok: TikTok: thebrianfranco X (Twitter): https://x.com/brian_t_franco 📖 Get the Book | Inevitable Exit https://inevitableexit.com/book-v4 🚀 Empire Builder University Learn how to build a company that creates real enterprise value, operational freedom, and long-term growth. 👉 Join Empire Builder University: https://empire-builder.com/special/ 🏢 Meritage Partners is an M&A advisory firm helping founder-led businesses navigate valuations, capital strategy, and successful exits.