Patrick Galleher of Boxwood Partners breaks down how a professional $100M sell-side process works—prepping financials, running IOIs, conducting management meetings, and choosing the right private equity partner.

We cover the full seven-month timeline, rollover equity, how buyers are screened, and the biggest mistakes founders make when they take their eye off the business. Patrick also shares real examples of deals that drew massive buyer demand.

What We Discuss

• How Boxwood structures sell-side processes for $50M–$150M deals

Guest Contact Info

LinkedIn: https://www.linkedin.com/in/patrickgalleher/

Additional Resources

Sponsored by O’Connell Advisory Group

M&A Launchpad Conference – May 2, 2026 - Houston, TX

Contact the Hosts

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew sit down with Trent Lee, a multi-year IBBA Top Individual Deal Maker and #1 business broker in the U.S. for closed transactions. Trent breaks down how great brokers actually think about valuation, deal structure, and—most importantly—how they qualify both sellers and buyers. 

From getting price and structure “bankable” for SBA lenders to using SDE, EBITDA, and adbacks the right way, Trent explains why most brokers are doing sellers a disservice and how he approaches deals very differently. He also shares exactly what buyers need to do to be taken seriously, stand out in a database of 45,000+ buyers, and get access to the best pre-market listings. 

Whether you’re a first-time buyer, an independent sponsor, or a founder thinking about selling in the next few years, this is a masterclass in how deals actually get done in the small and lower-middle market. 

In this podcast episode, we discuss: 

How Trent went from frustrated seller to award-winning business broker and credentialed appraiser 

Why most business brokers get valuation wrong—and how that hurts both sellers and buyers 

The appraisal and valuation process: SDE vs. EBITDA, adbacks, debt service coverage, and SBA guidelines 

How Trent “indoctrinates” sellers with education before he ever takes a business to market 

Getting sellers realistic on both price and terms (the price/terms “teeter-totter”) 

Why some owners discover they’re not actually ready—or able—to exit when they first call a broker 

How Trent built a 45,000+ buyer database and uses pre-market listings to drive competition 

The rise of more sophisticated buyers and why “buying boring businesses” is beating startup risk 

Seller financing realities: when seller notes help, when they hurt, and why he rarely recommends big carries for SBA deals 

How to approach brokers the right way as a buyer (and what instantly tags you as a tire kicker) 

Why being “industry agnostic” is a red flag and how to define a strong, credible buy box 

The right sequencing: proof of funds, SBA pre-approval, and moving fast on non-binding offers 

How to use due diligence to justify price adjustments when adbacks or owner comp are off 

Trent’s Rocket Round: competitive tennis, a $19M triple-up exit story, and how he uses AI and automation to close more deals than most brokers combined 

Guest Contact Info: 

Website: https://www.sellbusinessinlasvegas.com 

Email: [email protected] 

LinkedIn: https://www.linkedin.com/in/trentlee 

YouTube (free education for buyers and sellers): https://www.youtube.com/channel/UCncOtmBY1gbuE6wDyaFfwBw 

Social & free buyer resources hub: https://linktr.ee/trentlee 

Additional Resources: 

Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Schedule a discovery call with Patrick of O'Connell Advisory Group—your dynamic Quality of Earnings partner. Visit: http://www.oconnelladvisorygroup.com. 

Attend the M&A Launchpad Conference – Coming October 2025, date and location TBD. This one-day event brings together operators, searchers, independent sponsors, lenders, and deal professionals for tactical sessions on deal sourcing, capital raising, quality of earnings, due diligence, and post-close operations. Get your ticket at https://www.malaunchpad.com and use code LAUNCH for $150 off your ticket. 

M&A Launchpad Hosts Contact – To connect with hosts Casey Minshew and Feras Moussa about deals, partnerships, or speaking, email: [email protected] 

About The M&A Launchpad:

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew chat with Houston-based operator and Army veteran Raj Kankaria, owner of Lone Star Attorney Service—the largest process service company in Harris County. Raj breaks down how a career pivot and a tough life moment led him to discover a niche, recurring-revenue business, why he structured the acquisition with heavy seller financing, and how implementing EOS unlocked rapid growth from ~700–800 serves per month to ~1,200 in just a few months. We get into margins, pricing, who pays for service of process, the realities of post-close change management, and how disciplined leadership from the military translates into small-business execution. 

In this podcast episode, we discuss: 

Guest Contact Info: 

LinkedIn: https://www.linkedin.com/in/rajkankaria/ 

Company: Lone Star Attorney Service (Houston, TX) 

Email: (shared during the episode) 

Additional Resources: 

Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Schedule a discovery call with Patrick of O’Connell Advisory Group—your dynamic Quality of Earnings partner. Visit: https://www.oconnelladvisorygroup.com 

M&A Launchpad Conference – Upcoming May 2, 2026 in Houston, TX. Get your ticket at https://www.malaunchpad.com and use code LAUNCH for $150 off. 

Contact the Hosts – Email Casey Minshew and Feras Moussa at [email protected]. Equity Launchpad helps founders and operators learn to buy, operate, and scale small businesses. Learn more at https://www.equity-launchpad.com 

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew sit down with Josh Davis (JL Davis Enterprises) to unpack how he and his wife built one of the fastest-growing logistics companies in Canada—bootstrapped—then exited to a private-equity–backed strategic buyer in just three years. Josh shares the pivotal mentorship that shaped him, the asset-light pivot that unlocked scale, how custom software and ruthless scorecards drove margins, and what he learned operating under PE during a two-year earn-out. He also walks through his current family office and consulting work—helping founder-led SMBs get people, systems, and leadership right. 

In this podcast episode, we discuss: 

Chapters 

00:00 Introduction to Josh Davis 

Connect with Josh Davis 

LinkedIn: https://www.linkedin.com/in/scaling-with-josh-davis/ 

Company: https://jldavisenterprises.com 

Additional Resources 

The M&A Launchpad Conference – Join us in Houston for the 2026 M&A Launchpad Conference, a premier event designed for acquisition entrepreneurs, investors, and operators focused on buying, scaling, and selling businesses. Expect actionable sessions, curated networking, and access to dealmakers who are actively acquiring and scaling companies. Learn more and reserve your spot at https://www.malaunchpad.com — use code LAUNCH for $150 off your ticket. 

O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Schedule a discovery call with Patrick of O'Connell Advisory Group—your dynamic Quality of Earnings partner. Visit https://www.oconnelladvisorygroup.com to learn more. 

Get in touch with show hosts Casey Minshew and Feras Moussa at [email protected]. 

About The M&A Launchpad:

In this episode of the M&A Launchpad Podcast, hosts Casey Minshew and Feras Moussa sit down with Grant Hensel — a seasoned entrepreneur and acquisition professional who transitioned from starting companies to buying and scaling them. Grant shares his journey from founding and exiting Nonprofit Megaphone to launching a self-funded search that led to the acquisition of a digital marketing agency specializing in SEO for personal injury attorneys. Together with his wife Julia, Grant built upon their prior entrepreneurial experience to acquire, operate, and grow the business while implementing EOS and exploring bolt-on opportunities.

Throughout the episode, Grant discusses the lessons learned from acquiring a service-based business, navigating due diligence for digital assets, managing client retention, and building operational structure with EOS. The conversation dives into how Grant and Julia identified the right target, financed the deal through seller notes, and created growth through sales, marketing, and a bolt-on acquisition. He also touches on his fund, Entrepreneurial Capital, which supports other ETA operators, and his perspective on growth, transparency, and building long-term client trust.

You can connect with Grant on LinkedIn or X (Twitter): @GrantHensel

Learn more about his fund: Entrepreneurial Capital

The next M&A Launchpad Conference is happening in October 2025 in Chicago. Date and location details coming soon. 

This is the premier event for entrepreneurs, investors, and dealmakers in the lower-middle market.

Get your ticket at https://www.malaunchpad.com and use code LAUNCH for $200 off. 

Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. 

Schedule a discovery call with Patrick of O'Connell Advisory Group—your dynamic Quality of Earnings partner. 

Visit: www.oconnelladvisorygroup.com  

Contact Casey Minshew and Feras Moussa at [email protected]

Learn more at https://www.equity-launchpad.com

The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur, we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions.

🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7

In this episode of the M&A Launchpad Podcast, host Casey Minshew talks with Anica John, who shares her inspiring path from the tech industry to acquiring a book printing business. Anica opens up about leaving the corporate world, the lessons learned during the acquisition process, and how family support has been a driving force in her success. 

In this podcast episode, we discuss: 

Guest Contact Info: 

LinkedIn: https://www.linkedin.com/in/anicajohn/ 

Additional Resources: 

In this episode of the M&A Launchpad Podcast, host Casey Minshew interviews Cory Sandrock, Managing Partner of Pareto & Company. Cory shares his unique journey from theater to private equity, highlighting the nuances of independent sponsorship versus search funds and the critical role of teamwork in successful deal-making. 

In this podcast episode, we discuss: 

Guest Contact Info: 

LinkedIn: https://www.linkedin.com/in/corysandrock/ 

Company: https://paretoandcompany.com 

Email: [email protected] 

Sponsored by O’Connell Advisory Group 

Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. 

M&A Launchpad Conference 

The next M&A Launchpad Conference is happening in October 2025 in Chicago. Date and location details coming soon. 

Additional Resources 

About The M&A Launchpad:

In this episode of the M&A Launchpad Podcast, Casey Minshew sits down with Bryan Huber, Partner at SAB Capital, to explore the intricacies of sale leasebacks in the context of business acquisitions. Bryan breaks down how these transactions work, why they’re such a powerful tool for freeing up capital, and how they can improve business valuations. The conversation highlights underwriting considerations, the importance of quality of earnings, and the flexibility required when structuring deals. They also touch on lease agreement implications, financing strategies, and negotiating purchase options that protect future acquirers. 

In this podcast episode, we discuss: 

Connect with Bryan Huber 

Additional Resources 

The M&A Launchpad Conference – Join us on October 25, 2025 in Chicago for a one-day, high-impact event designed for acquisition entrepreneurs, investors, and operators who are serious about buying, selling, and scaling businesses. The agenda is packed with actionable sessions, curated networking, and access to industry experts who are actively doing deals. Space is intentionally limited to keep the event impactful, so attendees can connect with the right people and walk away with real opportunities. Secure your spot today at www.malaunchpad.com — use code LAUNCH for $200 off your ticket. 

In this episode of the M&A Launchpad Podcast, Casey Minshew interviews Paige Wiese, founder and CEO of Tree Ring Digital, a Denver-based digital marketing agency. Paige brings over 15 years of experience helping businesses build and execute marketing strategies that drive measurable growth. She shares her perspective on why evaluating digital marketing strategies is critical when acquiring a business, how digital assets factor into valuation, and what buyers and sellers should consider during due diligence.

The conversation dives into the importance of preparing for exits, integrating digital strategies post-transaction, and adapting to rapid changes in the digital landscape—including the rise of AI. Paige also highlights the unique opportunities and challenges in bringing digital presence to blue-collar businesses.

Key Takeaways

· The M&A Launchpad event is a must-attend for anyone buying, selling, or scaling businesses.

· Evaluating digital marketing strategies is essential for business buyers.

· Understanding digital assets can prevent costly mistakes during acquisitions.

· Financial health and quality of earnings are critical in M&A.

· A strong digital presence can significantly increase business valuation.

· Buyers should ask the right questions about digital assets before acquisition.

· Post-transaction integration of digital strategies is key to a successful transition.

· AI is changing the digital marketing landscape rapidly.

· Blue-collar businesses need to start building their digital presence early.

Connect with Paige Wiese LinkedIn: https://www.linkedin.com/in/paigewiese/ Tree Ring Digital: https://treeringdigital.com/

M&A Launchpad Conference The M&A Launchpad Conference is where acquisition entrepreneurs, investors, and operators come together for a full day of deal-making, insights, and networking. Whether you’re buying, selling, or growing businesses, this is the event that puts you in the room with the right people.

· Learn directly from industry leaders and active dealmakers

· Gain insight into real-world acquisitions and exits

· Build relationships with capital partners, operators, and advisors

· Discover opportunities to scale through mergers & acquisitions

Chicago, IL Saturday, October 25, 2025 Tickets + info: https://www.malaunchpad.com/

Use code LAUNCH for $200 off registration.

Additional Resources

· Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Schedule a discovery call with Patrick of O'Connell Advisory Group—your dynamic Quality of Earnings partner. Visit: https://www.oconnelladvisorygroup.com/

· Access our archive of video interviews on YouTube: https://www.youtube.com/@MALaunchpad

· Connect with show hosts Casey Minshew and Feras Moussa: [email protected] · Learn more about Equity Launchpad: https://www.equity-launchpad.com/

In this episode of the M&A Launchpad Podcast, hosts Feras Moussa and Casey Minshew welcome Kristie Shifflette, who shares her inspiring journey from corporate America to becoming a successful franchisee with Orange Theory Fitness.

Kristie dives into the challenges and triumphs of scaling her business to 13 locations, her experience navigating private equity, and the critical role of sales and team development in driving success. She also opens up about her post-exit chapter—new ventures in health and wellness, lessons learned, and how she’s redefining success after building and selling a thriving business.

This episode is packed with insights for entrepreneurs, franchise operators, and anyone considering private equity partnerships or planning for an eventual exit.

Key Takeaways

· It doesn’t really matter where you start; it’s how you finish.

· Sales and people development are crucial for business success.

· Pre-sales strategies can lead to profitability from day one.

· Having control over an area can provide a competitive advantage.

· Building a strong team structure is essential for scaling.

· Private equity can provide opportunities for growth and expansion.

· Understanding your numbers is key to executing a successful business strategy.

· Self-awareness is important in recognizing when to pivot or step back.

· Creating systems and processes can make a business more attractive to buyers.

· Empowering consumers with knowledge can lead to better health outcomes.

Connect with Kristie Schifflette

LinkedIn: https://www.linkedin.com/in/kristie-shifflette-0761353/

M&A Launchpad Conference

The M&A Launchpad Conference is where acquisition entrepreneurs, investors, and operators come together for a full day of deal-making, networking, and insights from industry leaders.

📍 Chicago, IL 📅 Saturday, October 25, 2025 🎟️ Tickets & Info: https://www.malaunchpad.com 💸 Use code LAUNCH for $200 off

Additional Resources

Watch our archive of video interviews on YouTube: https://www.youtube.com/@malaunchpad Contact the hosts: [email protected] Learn more: https://equity-launchpad.com