Case Studies

    M&A Case Studies: How Founders Prepared for Multi-Million Dollar Exits

    Case 1

    B2B Supply Chain SaaS — From 40% Founder Dependency to 6.8x ARR Exit

    • $28M Transaction Value
    • 6.8x ARR Multiple
    • 100% Cash at Close (0% earnout)
    Starting state
    High founder-led sales dependency, unverified cash add-backs.
    14-month Trajectory intervention
    Fractional CFO fixed QoE add-backs; Guide transitioned key accounts to an executive VP layer.
    Result
    Multiple bidders; avoided a 30% earn-out trap.
    The 9–24 Month Program Fractional CFO, CTO & CGO practices

    Case 2

    HealthTech Platform — Eliminating Tech Debt & Diligence Re-Trades

    • $19.5M Enterprise Value
    • 68 Days to Close
    Starting state
    Undocumented proprietary code, legacy contractor IP risks.
    16-month Trajectory intervention
    Fractional CTO conducted full code audit, clean 83(b) and IP assignments, SOC2 readiness.
    Result
    Institutional PE buyer closed in 68 days with zero diligence price chips.
    The 9–24 Month Program Fractional CFO, CTO & CGO practices

    Case 3

    Tech Services to Recurring SaaS — Unlocking Institutional Valuation Multiples

    • Multiple expanded from 1.2x Revenue to 5.1x ARR
    • $14.2M Transaction
    Starting state
    Low-margin bespoke services with erratic working capital swings.
    18-month Trajectory intervention
    Transitioned custom contracts to 3-year recurring platform agreements; instituted 30-day AR collection protocols.
    Result
    Re-categorized from services to pure software comp group.
    The 9–24 Month Program Fractional CFO, CTO & CGO practices