Inside the Deal Room is where I share what’s happening behind the curtain as we source, negotiate, acquire, build and scale businesses through Vyterro and our deal ecosystem.
BONUS EDITION: What acquisition experience do you have?
In my last newsletter, I wrote about how to use prior acquisition experience to better frame yourself for the seller, broker, and bank. For most people reading this, the traditional version of acquisition experience, having already bought a business, won’t apply, and that’s fine. There are still plenty of ways to show acquisition-related experience and accomplish the same goal:
Give the seller, broker and bank confidence you can get from LOI to closing successfully
The whole essence of an entrepreneur is creative problem solving. When someone says “there’s no way,” “it’s not possible,” “it doesn’t work,” it’s your job to find a solution and make it work anyway. Being an acquisition entrepreneur is no different. For this topic, you’re solving the problem of how to convey credibility where it might not be obvious.
One quick note before we dive in: this edition is meant to complement the previous one, not replace it. They should be read in combination with each other. Knowing which angles you can use is great, but you also need to know how and when to use them.
Below are a handful of examples of acquisition experience you may already have without realizing it. Not every example below will apply to you, so try to find the one or two that genuinely fit your background and use those. Feel free to scroll through and read the “Who this applies to” breakdown of each section to see what might work for you.
My goal is that everyone reading this walks away with at least one example they can use. Don't treat this as an exhaustive list either. Be creative and frame your own experience where it makes sense.
Real Estate Experience
Who this applies to: Realtors, brokers, investors, landlords, house flippers, developers, property managers, commercial lenders, etc.
The process of buying or selling properties is simpler, but still directionally similar to buying a business. If your only real estate experience is buying your personal home, it might be a stretch and trying to flex that could make you look naive. But if you’ve worked in real estate on the professional side, you do have transferable skills. Presented right, these can give you credibility.
Working with contracts, attorneys, title companies, lenders, diligence providers, closing timelines, etc. is all comparable to the business acquisition side. It’s just a different flavor of the same process. Some examples of how to frame this experience are below:
“I've been through multiple real estate transactions so I'm comfortable with diligence, contracts, lender requests, and everything that happens between signing and closing. I know buying a business is different, but I hope that experience gives you confidence that I won't slow the process down.”
“I’ve worked with many lenders throughout my real estate career and understand how they underwrite and judge risk. I know how to make things quick and efficient during their processes.”
“I know how annoying it can be when legal negotiations stall deals from my work in real estate. I only work with attorneys who are cognizant of timelines and what’s actually material to the deal.”
“I’ve seen real estate deals fall apart from buyers dragging their feet. I’m aware of how frustrating this can be for everyone involved, and won’t create issues like that.”
Corporate M&A Experience
Who this applies to: Corporate development, post-merger integration teams, corporate strategy, internal M&A support, transaction management, business transformation, etc.
If you've worked around acquisitions inside a larger company, you've probably seen more of the M&A process than you realize. Even if you weren't leading negotiations or signing legal documents, you've likely experienced diligence, integration planning, cross-functional coordination, and what it takes to move a transaction from announcement to reality.
"I've worked on the corporate side of acquisitions before, so I've seen firsthand how transactions move from diligence through integration. I understand the moving pieces and know how important communication and momentum are."
"I've worked alongside attorneys, accountants, and other departments during acquisitions before, so I'm comfortable coordinating with multiple parties to keep a transaction moving."
"I've seen acquisitions from inside a company before, so I understand how quickly delays and miscommunication can slow a deal down. My goal is to make this process as smooth as possible."
Private Equity or Investment Banking Experience
Who this applies to: Private equity professionals, investment bankers, independent sponsors, search fund interns, transaction advisory professionals, deal team analysts and associates, etc.
If you've worked in private equity or investment banking, you've likely spent a significant amount of time evaluating businesses, conducting diligence, negotiating transactions, and managing deal processes. Even if you weren't the ultimate decision maker, you've already seen many acquisitions unfold from the inside. That's highly relevant experience. This is probably the closest you can get without having bought a business yourself.
"I've worked on acquisition transactions professionally, so I'm familiar with diligence, financing, negotiations, and everything that happens between signing an LOI and closing."
"I've been on the deal team for acquisitions before, so I understand how buyers, sellers, lenders, attorneys, and accountants all fit together throughout a transaction."
"I've spent years helping other people buy businesses. Now I’m doing it for myself.”
"I've seen enough transactions to know where deals typically get delayed or fall apart. My goal is to proactively solve those issues instead of reacting to them."
Business Transition Experience
Who this applies to: Management consultants, integration consultants, ERP/software implementation teams, operational consultants, turnaround consultants, fractional executives, transition managers, change management professionals, etc.
You don't need to have negotiated the acquisition to have valuable acquisition experience. If you've helped businesses through ownership changes, integrations, major system implementations, restructurings, or other large operational transitions, you've already seen many of the challenges that happen after a deal closes.
"I've helped businesses navigate major operational transitions before, so I understand how important planning, communication, and execution are after a transaction."
"I've worked alongside owners and management teams during significant business transitions, so I understand how quickly small issues can become larger ones if they aren't addressed early."
"While I wasn't negotiating the acquisition itself, I was responsible for helping execute what happened afterward. That experience taught me how important preparation and communication are throughout the process."
Lived Through an Acquisition
Who this applies to: Anyone whose employer was acquired, merged with another company, or acquired another business.
You don't have to be on the deal team to learn from an acquisition. If you've worked at a company that was bought, merged with another business, or acquired another company, you've already experienced many of the realities that come after closing. You've seen how communication, integration, employees, customers, systems, and leadership all change during a transaction.
That perspective is more valuable than most people realize, and it doesn’t matter whether you were in HR, accounting or sales when you experienced it. It’s still relevant that you were there for a transition.
"I worked at a company that was acquired, so I've seen firsthand what a transition looks like from the employee side. I understand how important communication and continuity are after closing."
"I was part of a business that acquired another company. While I wasn't leading the transaction, I saw what successful integration looks like and how much planning goes into making it work."
"I've seen how employees react during ownership changes and understand why sellers care so much about preserving culture and maintaining continuity."
Educational Communities, Mentors & Coaches
Who this applies to: ETA communities, search fund programs, mastermind groups, acquisition coaches, mentors, consultants, accelerators, etc.
You don't have to figure everything out alone. One of the fastest ways to build acquisition competence is to surround yourself with people who've already done it. While borrowed experience isn't the same as firsthand experience, it's still far better than having nothing to talk to at all. If you have experienced people helping guide you through the process, don't be afraid to communicate that.
"I'm working with a coach who's completed multiple acquisitions before. While this will be my first business purchase, it won't be the first acquisition my team has navigated."
"I'm part of an acquisition community where I have access to buyers, lenders, attorneys, and operators who have been through this process many times before. I know when to ask questions instead of guessing."
"I know this will be my first acquisition, but it won't be the first acquisition my advisors, lenders, attorneys, and mentors have worked through. I've built a team specifically to reduce execution risk."
Friend, Family, or Business Partner Experience
Who this applies to: Anyone with a close friend, family member, business partner, or long-term colleague who has successfully acquired a business.
You don't need to pretend someone else's experience is your own. But if you've had a front-row seat to multiple acquisitions through someone close to you, that's still valuable. You've likely seen the diligence process, financing hurdles, transition planning, and unexpected problems that come up between LOI and closing. The key is being honest about your role while showing you aren't walking into the process blindly.
"My business partner has been through several acquisitions before, so while this would be my first personally, I'll be working alongside someone who's navigated this process multiple times."
"One of my closest friends has bought several businesses over the last few years. I've watched those deals from the sidelines, asked a lot of questions, and learned quite a bit about how the acquisition process actually works."
"I'm not relying solely on my own experience. I've intentionally built relationships with people who've completed acquisitions before so I have experienced guidance throughout the process."
Got Under LOI but the Deal Didn't Close
Who this applies to: Anyone who's signed an LOI and gone through diligence, financing, legal documentation, or negotiations on a deal that ultimately didn't close.
A failed acquisition doesn't mean the experience was wasted. In many cases, you still learned how diligence works, how banks underwrite transactions, how attorneys negotiate purchase agreements, and where deals typically run into problems. The key is to frame what you learned, not simply the fact that the deal didn't close.
"While the transaction ultimately didn't close, I made it all the way through diligence and learned a tremendous amount about the acquisition process. That experience will help me move more efficiently on this deal."
"I've been under LOI before and understand how quickly unexpected issues can surface. I think having gone through that process once will help me anticipate potential problems much earlier this time."
"Even though the acquisition didn't close, I don't view it as a wasted effort. It was essentially a real-world education in buying a business, and I'll be able to apply those lessons to this deal."
The List Doesn't Stop Here
Those were the most common examples I could think of, but there are plenty of others too.
- Military experience
- CPA or transaction advisory work
- Corporate or real estate attorney experience
- Commercial lending, banking or underwriting
- Entrepreneurship or starting your own business
- Capital raising, venture capital, or family office experience
- Board or advisory experience
- Family business succession
The list goes on. If your background has exposed you to transactions, transitions, negotiations, or the mechanics of buying and operating businesses, there's probably a legitimate way to frame it.
The strongest buyers aren't always the ones with the longest acquisition resume. More often, they're the ones who know how to communicate the experience they do have.
