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The Art of the Deal: Kelly Stratton's Insights on M&A

Built to Finish

Release Date: 07/09/2025

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What does it take, not just financially, but emotionally and strategically, to sell the company you built from the ground up?


Kelly Stratton, President and Founder of Quire, a cloud-based platform transforming technical report writing. As a seasoned environmental engineer and advocate for Agile development, Kelly shares her journey through the successful sale of her company and the lessons learned along the way.


She emphasizes the value of assembling a specialized M&A team—accountants, legal advisors, and investment bankers—who can guide founders through complex decisions. Initially skeptical of private equity, Kelly explains how the experience ultimately shifted her perspective and resulted in a better outcome for her business.


From the importance of clean financial records to navigating equity issues and planning for wealth management, Kelly offers actionable insights for any entrepreneur considering a sale. She also explores how to maintain company culture post-acquisition and how her role evolved under new ownership.


With candid reflections on valuation, financial metrics like the Rule of 40, and the indispensable role of a good investment banker, this conversation shines a light on the strategic and emotional realities of exiting a company—and what it means to finish well.


 

Takeaways:

  • Build a Great Team: Carefully select a team of professionals experienced in M&A processes, such as specialized accountants, business attorneys, financial advisors, and even a fractional CFO, if necessary. Their expertise can significantly impact the efficiency and success of the transaction.
  • Engage a Skilled Investment Banker: Find an investment banker well-versed in your industry who can accurately value your business and market it effectively. They should be able to guide you through the entire M&A process and help you understand the true worth of your company.
  • Have Open Conversations with Potential Buyers: Engage in discussions with both strategic buyers and private equity firms. Understanding their perspectives and what they bring to the table will help you make an informed decision about the future owners of your business.
  • Engage with a Wealth Manager Early: Start working with a wealth manager well in advance of the transaction. They can help you understand your financial needs post-transaction, set up donor-advised funds, and implement other strategies to optimize your financial outcomes.
  • Clean Up Your Books: Ensure your financial records are clear, accurate, and follow best practices. Small discrepancies can hold up deals, and having transparent and well-maintained financial records can expedite the process and ensure you get a fair valuation.
  • Prepare for Emotional Challenges: Selling a business you founded can be highly emotional. Preparing mentally for this transition and understanding how to balance the emotional aspects with business decisions is crucial for a smooth process.
  • Adapt and Upgrade Your Team as Needed: Recognize when it’s essential to bring in more specialized team members, particularly those with exit experience. Although it might be tough due to loyalty to your initial team, having the right people in place is key for scaling and facilitating a successful exit.


Quote of the Show:

  • "Don't trust your story with just anyone. They need to know you. They need to have deep expertise and knowledge about the space that you work in." 


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