Lessons and Insights Learned from the Buy-Side Transaction Process (with Sam Van Hon of PACK Private Capital)
The Transaction Abstract Podcast
Release Date: 05/14/2024
The Best M&A Deals Start Long Before the Deal: A Conversation on Networking, Trust, and Playing the Long Game
The Transaction Abstract Podcast
In this episode of The Transaction Abstract Podcast, Joe Hellman sits down with Lee Koury, Managing Director at Smart Business Network, to talk about the role networking really plays in M&A and business transitions. Drawing from decades of experience building relationships with founders, CEOs, and investors, Lee shares how trust, transparency, and long-term connection shape better outcomes... often long before a deal is ever discussed. In this episode, you’ll hear insights on: Why the strongest M&A outcomes are built on relationships, not transactions How long-term networking...
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The Role of Quality of Earnings in Smarter, More Confident Transactions
The Transaction Abstract Podcast
In this episode of The Transaction Abstract Podcast, Joe Hellman sits down with Nonye Thompson, Managing Director in Redpath’s Transaction Advisory Services practice, to break down one of the most important, and often misunderstood, components of the deal process: the Quality of Earnings (QoE). Drawing from years of experience leading buy-side and sell-side diligence engagements for transactions ranging from $5 million to over $1 billion, Nonye explains what a QoE actually is, why it matters, and how it helps both buyers and sellers make smarter, more confident decisions. While many...
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Entrepreneurship Through Acquisition: Key Lessons From Dan Hennessey
The Transaction Abstract Podcast
In this episode of The Transaction Abstract Podcast, Joe Hellman sits down with Dan Hennessey, the newly appointed CEO of Sam Schwartz Pedestrian Traffic Management Services, Inc. Dan is a former M&A professional who successfully completed his own Entrepreneurship Through Acquisition (ETA) search. Drawing from years of deal experience on both the banking and private equity side, and now as an operator, Dan shares practical insights on everything from sourcing a business and building credibility to navigating financing and preparing yourself to step into ownership. For Dan, the path...
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Common Legal Pitfalls in M&A Transactions with Guest Kim Lowe
The Transaction Abstract Podcast
In the latest episode of the Transaction Abstract podcast, host Joe Hellman, Transaction Advisory Services Practice Lead at Redpath and Company, sits down with Kim Lowe, a founding partner at Avisen Legal, to unravel the complexities of buying and selling businesses. Drawing from nearly 30 years of experience, Kim shares frontline insights from both the legal buy-side and sell-side of transactions, exploring the challenges that arise when business owners or their advisors are unprepared for the intricate process of a business sale. Joe and Kim discuss common issues that can slow down or...
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Legal Considerations in Self-Funded Search Fund Transactions with Jake Parsley
The Transaction Abstract Podcast
In this episode of The Transaction Abstract Podcast, Joe Hellman speaks with specializing in search fund transactions. They discuss the specific legal hurdles self-funded searchers face when acquiring Main Street businesses. The Self-Funded Search Landscape Self-funded search funds often involve first-time entrepreneurs acquiring businesses valued at less than $5 million. They use a combination of Small Business Association (SBA) financing, seller notes, or investor capital. Unlike traditional search funds with institutional backing, self-funded searchers work with Main Street advisors...
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Why Smart Sellers Invest in Quality of Earnings Studies, with Emma Gergen
The Transaction Abstract Podcast
In this episode of The Transaction Abstract Podcast, Joe Hellman sat down with to explore quality of earnings (QoE) studies and why they have become essential in M&A transactions. Many business owners wonder if they even need a sell-side QoE if the buyer will already conduct one. The answer, according to Gergen, is simple. She argues that you want to be armed with the same set of facts as the buyer, so that you’re comfortable with the agreed-upon valuation. Understanding Quality of Earnings vs. Traditional Audits A quality of earnings study is different from a standard audit. While an...
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Search Funds: Entrepreneurship Through Acquisition with Marshall Johnson
The Transaction Abstract Podcast
In this episode of The Transaction Abstract Podcast, Joe Hellman sat down with to explore the search fund model and how it provides opportunities for aspiring entrepreneurs and business owners looking to exit their companies. What is a Search Fund? "A search fund is when an aspiring operator wants to go find and lead a great company, and they raise money," Johnson explains. Individual searchers typically raise $500,000, while teams raise around $900,000 to fund an 18-month search for the right acquisition target. The model has strong academic backing, with Stanford University publishing...
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Transaction Insurance: A Critical Tool in M&A Deals with Ross Hamann
The Transaction Abstract Podcast
In this episode of The Transaction Abstract Podcast, Joe Hellman sat down with , to explore the crucial role insurance plays in mergers and acquisition transactions. What is Transaction Insurance? Transaction insurance encompasses several products designed to facilitate deals by addressing risks that might otherwise prevent a successful closing. Hamann explains that CAC Specialty offers a comprehensive suite of solutions that extends beyond standard coverage. As Hamann puts it, "We never want... a risk out there, be it known or unknown, cause a deal to not go through, because people... put a...
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ESOPs as a Business Exit Strategy: Key Insights from Tom Walker
The Transaction Abstract Podcast
In this episode of The Transaction Abstract Podcast, Joe Hellman sat down with with over 35 years of ESOP experience, to explore Employee Stock Ownership Plans (ESOPs) as a business exit strategy. What is an ESOP? An ESOP is a qualified retirement plan similar to a 401(k), but with two key differences. First, the primary investment is company stock, and second, it is funded primarily through company contributions rather than employee contributions. As employees work at the company, they accumulate stock in their accounts, allowing them to benefit from the company's success over time. Walker...
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Market Trends and Transaction Insights with PGIM Private Capital
The Transaction Abstract Podcast
In this latest episode of The Transaction Abstract, Joe Hellman sits down with to discuss current market conditions and transaction trends. Introduction to PGIM Private Capital , part of Prudential Financial's investment management business, operates across various asset classes including public debt, real estate, and private equity. Their Minneapolis office covers five states—Minnesota, Iowa, Nebraska, and the Dakotas, providing senior debt financing, structured financing, and minority equity investments for businesses across the credit spectrum. Current Market Conditions and Deal...
info_outlineSam Van Hon, CFO of PACK Private Capital, joined the Transaction Abstract podcast to discuss his experiences and lessons learned through the buy-side transaction process.
Van Hon describes PACK Private Capital as a multi-family office with 16 partners and an “evergreen model” (holding acquisitions in perpetuity to grow and deliver shareholder value) that maintains a large focus in the construction industry.
He discusses his organizations approach to:
- Identifying targets
- Process takeaways
- Expectations while engaging in a buy-side transaction process.