The Buyer & Seller Podcast with Fexingo: Business Brokers, Exits, and Private Sales Explained

Lucas and Luna dive into the mechanics of earnouts in private business sales—a tool that can bridge valuation gaps but often sparks conflict. They walk through a real-world case: a $12 million industrial services deal where the seller agreed to a three-year earnout tied to customer retention. The hosts explain why earnouts fail when targets are vague, how to structure milestones that both sides ca...

Lucas and Luna dissect the earnout—a common deal structure in private business sales where part of the purchase price depends on future performance. They walk through a real case: a $20 million industrial coatings company where the earnout turned a smooth exit into a three-year nightmare. Listeners learn why earnouts exist, how they can backfire, and what a seller can negotiate instead. No theory—...

Lucas and Luna break down the earnout—a common but often misunderstood deal structure where part of the purchase price depends on future performance. They walk through a concrete case: a $50 million SaaS company acquisition where the earnout clause triggered a bitter dispute. Lucas explains how earnouts shift risk to the seller, why they're used in about 30% of private sales under $100 million, an...

Lucas and Luna explore the often-overlooked world of internal succession sales — where employees buy the business instead of an outside acquirer. They dissect a real case: a regional insurance brokerage in Ohio that transitioned to its top producer over five years using an earn-out structure. Lucas breaks down the mechanics of seller financing, how to price a business when there's no competitive b...

Lucas and Luna unpack the art and science of business valuation in a private sale. Instead of talking general theory, they walk through a real case: a $4.2 million specialty-parts manufacturer in the Midwest, sold in Q1 2026. Lucas explains why the broker used a multiple of seller's discretionary earnings rather than EBITDA, how earnouts bridged a 30% valuation gap, and why the final price had alm...

In this episode of The Buyer & Seller Podcast, Lucas and Luna dig into the data behind failed small-business sales. Over 60 percent of listed businesses never close. Lucas breaks down the top three deal-killers: unrealistic valuation expectations, incomplete financial records, and cultural mismatch with the buyer. He walks through a concrete example of a Midwest manufacturing firm that lost a buye...

In Episode 1 of The Buyer & Seller Podcast, Lucas and Luna unpack the unlikely story of Cholula hot sauce, a family-run Mexican condiment brand that sold to a private equity-backed platform for $1.2 billion in 2020. They walk through how the founders built a cult following with zero marketing budget, why a small Ohio-based private equity firm called L Catterton led the deal, and what mom-and-pop s...