Private Equity FunCast When And How To Sell Your Company
Apr 1, 2026
Ryan Milligan, a hands-on private equity operator and deal professional, explains the when and how of selling companies. Short takes on timing, prepping the data room and customer cube, banker tradeoffs, warming buyers, IOIs to LOIs, and closing mechanics. Practical, process-focused breakdowns of how exits actually move from first conversations to close.
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Customer Cube Is The Single Most Important Doc
- A clean customer cube and quality-of-revenue analysis are the single most informative documents for software buyers.
- Ryan and Devin say buyer assessment of churn, product mix, and retention often determines pricing and diligence focus.
AI And Tech Diligence Are Deal Deciders
- Product diligence now blends with market and AI risk; code and AI-readiness reviews are increasingly deal-determinative.
- They warn AI is the new cyber: lack of preparedness can kill deals or materially lower price.
Prepare Management Early And Be Transparent
- Prepare management early: discuss rollover, succession, restrictive covenants, and incentives before launching a process.
- Devin gives Rick Noble example where CEO declared this was his last rodeo, so they planned succession and communicated it to buyers.