A private equity buyer of manufacturing companies tells sellers what actually moves the multiple, how to spot founder dependency in one question, and why closing a deal is the start of the work, not the end.
Most operators spend their careers trying to reach the buy side of the table. Eric Wiklendt lives there. As a Managing Director at Speyside Equity, he buys lower-middle-market manufacturing companies, and in the debut episode of Nine Figure Exits he tells Doug Foley exactly how a disciplined buyer thinks.
They get specific. Eric explains what owners get wrong about private equity (and why a strategic buyer, not a PE firm, is the one more likely to restructure), the single question that reveals whether a business runs on systems or on one person, and the philosophy that names his whole approach: close is not completion, it's commencement. He breaks down why the industry is splitting into small focused funds and giant generalists, what Speyside looks for, and the three things every first-time seller should do before going to market, including why a good investment banker is worth their weight in gold.
If you own a manufacturing, trades, or services business and you will one day sell it, this is the buyer's side of the conversation you rarely get to hear.
In this episode:
- What owners get wrong about private equity vs. corporate M&A
- The business life cycle and the right CEO for each stage
- Speyside's human capital assessment framework
- The three-week vacation test for founder dependency
- What makes a management team investable
- "Invest in what you know" and Eric's path from the shop floor to the deal table
- Why close is commencement, not completion
- The bimodal private equity industry and why ego multiples rarely hold
- How to pick a partner and a banker, and the 18 to 24 month runway to a close
Guest: Eric Wiklendt Managing Director at Speyside Equity, a value-focused buyout firm investing in lower-middle-market manufacturing ($50M to $500M revenue). Website: https://speysideequity.com · LinkedIn: https://www.linkedin.com/in/ericwiklendt
Host: Doug Foley Founder of Nine Figure Exits, CEO of Foley Media, Managing Partner at 528 Partners, and bestselling author of AI Sales Engine.
Nine Figure Exits is a curated community for $20M to $200M operators in manufacturing, trades, and services who are building toward exit. Talent. Capital. Growth. AI. Apply at https://9figureexits.com
Disclaimer: All expressions of opinion in this podcast are subject to change without notice and are not intended to be a forecast of future events or results. There is no assurance that any trends discussed will continue or that any projections will be met.
