Immediately after closing his first PE deal, Chris Huckabee began meeting with other PE firm leaders. He wasn't actively selling, but building a pre-vetted list of ideal future partners. When an unexpected offer arrived 12 months later, he could instantly invite his curated list to bid, creating a competitive process.

To vet potential investors or acquirers, founders should ask them to articulate their vision for the startup's next five years. Hearing their story told through the buyer's eyes reveals the depth of their strategic thinking and helps assess whether their vision aligns with the founder's, ensuring a better post-transaction fit.

To sell a company from a position of weakness, first secure a strategic partnership. This creates dependency and leverage, reframing the eventual acquisition talk around a proven, shared success rather than a failing business.

To become an attractive platform for private equity, Huckabee invested heavily in preparing his business for two years pre-sale. This included hiring non-billable roles like legal and M&A experts, which suppressed EBITDA but built the necessary foundation for scalable growth.

Instead of secrecy, Chris Huckabee openly communicated M&A plans to all employees, even letting potential PE partners tour the office. This unorthodox transparency built trust and prevented the fear that plagues acquisition processes, ensuring everyone felt part of the journey.

To justify a high acquisition multiple, a founder must prove the business can operate without them. A powerful tactic is showing an acquirer your calendar to demonstrate that a majority of key clients are managed by the team, not the founder. This de-risks the acquisition and proves the company has true enterprise value.

Instead of a big-name generalist firm, Huckabee hired the top investment banker specializing in his architecture/engineering space. This niche expert provided tailored advice on what PE firms would see as 'dings' on his business, leading to a better-prepared and more valuable sale.

When approached by a PE firm before going to market, Chris Huckabee didn't haggle. He sent one email with his price and key deal points, framing it as a non-negotiable offer. This power move, stemming from knowing his company's worth, secured his desired terms without a lengthy back-and-forth.

Don't treat your M&A strategy as a state secret. Proactively sharing a detailed deck with bankers and trusted advisors multiplies your sourcing capabilities. This transparency ensures the inbound opportunities you receive are better aligned with your strategic priorities.