Viking Mergers & Acquisitions

Viking Mergers & Acquisitions Viking Mergers & Acquisitions has sold more businesses for more dollars than any group of our type.

Most business owners present their cash flow as a single number when buyers are actually evaluating three completely dif...
06/05/2026

Most business owners present their cash flow as a single number when buyers are actually evaluating three completely different things. Buyers ask:

Is it real? They dig into add-backs and quality of earnings to see what survives scrutiny.

Will it survive without the owner? They model scenarios where the founder steps away completely.

Will it hold if things go sideways? They stress-test the numbers under downside conditions.

A manufacturing company owner recently discovered this during diligence when a buyer's team separated his $2.1M EBITDA into these three buckets. The exercise revealed dependencies he had never considered.

What surprises business owners most when they see their cash flow through a buyer's lens?

Most business owners prepare clean financials to get a better valuation. That misses the real point.Clean books aren't a...
05/26/2026

Most business owners prepare clean financials to get a better valuation. That misses the real point.

Clean books aren't about raising the price. They're about protecting the price after the buyer's accountants show up during due diligence.

Once an LOI is signed, a seller can't shop the deal anymore. The buyer's team arrives looking for soft spots to justify a retrade. Discrepancies between internal P&Ls and tax returns give them exactly what they need.

A manufacturing business owner learned this when his buyer's accountants found $180K in personal expenses mixed into operating costs. The retrade knocked $900K off the deal price.

Clean financials aren't a checklist item. They're a seller's primary defense against getting repriced when it's too late to walk away.

What patterns do you see when buyers push back hardest during diligence?

Today, we remember and honor the men and women who gave their lives in service to our country. We're grateful for their ...
05/25/2026

Today, we remember and honor the men and women who gave their lives in service to our country. We're grateful for their courage and their sacrifice.

Thank you to everyone who joined us for our Annual Friends of Viking Celebration last week!It was a pleasure spending ti...
05/22/2026

Thank you to everyone who joined us for our Annual Friends of Viking Celebration last week!

It was a pleasure spending time with so many clients, referral partners, colleagues, and friends who have supported Viking over the years, especially as we celebrated Viking’s 30th anniversary.

A favorite part of the event was presenting each guest with a $10 bill to use for a "Random Act of Kindness." We’ve already received several incredibly heartwarming stories about how people used the opportunity to brighten someone’s day.

We were also proud to honor and support five outstanding organizations through this year's event:
• Alzheimer’s Association - leads the way to end Alzheimer's and all other dementia by accelerating global research, driving risk reduction and early detection.
• Children’s Cancer Partners of the Carolinas – helps by covering lodging, transportation, and meals so families regardless of income or location can access treatment.
• Beds for Kids - delivers gently used and new furniture to help families rise out of poverty and toward self-sufficiency.
• Veterans Bridge Home - provides critical support through housing assistance, employment programs, mental health services, and community engagement.
• Journeymen - guides boys into men of integrity. Approach: the L.A.M.B. model (Listen, Accept, Model, Bless).

We’re deeply grateful for the community surrounding Viking and to everyone who helped make the evening so special. We're already looking forward to next year!

There is still a great deal of capital looking for strong companies. The question is where that capital feels confident....
05/18/2026

There is still a great deal of capital looking for strong companies. The question is where that capital feels confident.

Buyers may be more disciplined than they were in easier financing environments, but that does not mean demand has disappeared. Strategic acquirers still want growth. Family offices still want durable operating companies. Individual buyers and investors are still looking for businesses with stable earnings and room to build.

What has changed in many cases is selectivity.

Capital tends to move toward businesses that feel understandable, defensible, and operationally sound. That's why fundamentals matter so much. Strong reporting, management depth, recurring demand, and a credible growth story all help buyers gain confidence.

For professionals advising their clients, this is an important distinction. Demand still exists, but that doesn't eliminate ex*****on risk. Founders sometimes wait for “perfect” market conditions. In practice, the better question is often whether the business itself is prepared to command attention.

Not all revenue is valued the same way. Buyers care deeply about predictability.Recurring revenue matters because it giv...
05/13/2026

Not all revenue is valued the same way. Buyers care deeply about predictability.

Recurring revenue matters because it gives buyers confidence. When a meaningful portion of revenue is repeatable, buyers can underwrite future performance with more clarity.

That doesn't mean every business needs subscriptions or contracts to be attractive. It means predictable demand, repeat customers, long-standing accounts, and strong retention all contribute to a more durable story.

In the lower middle market, buyers are constantly evaluating sustainability of earnings. If future revenue feels uncertain or highly dependent on new sales every month, buyers may see more risk. If the company has reliable revenue patterns and strong customer retention, they often see a sturdier platform.

Recurring revenue does not guarantee a premium valuation, but it can meaningfully improve how a business is perceived in a sale process.

Founders often expect the sale process to challenge them financially and strategically. Many are surprised by how much i...
05/11/2026

Founders often expect the sale process to challenge them financially and strategically. Many are surprised by how much it challenges them emotionally.

That emotional reality shows up in different ways. Some founders feel relief. Others feel uncertainty. Many feel both at the same time. After years or decades of building a company, stepping back can raise questions that have nothing to do with EBITDA.

What happens to the employees who helped build it? Will the culture change? What does the next chapter look like without the business at the center of daily life?

These are not side issues. They're part of the transaction.

In our experience, the founders who navigate the process most confidently are often the ones who give themselves permission to think about both the financial and personal sides of the decision. That emotional complexity also matters to wise advisors who can help clients think through more than price alone.

A successful exit is not only about value. It's also about clarity, readiness, and peace of mind.

Even in active markets, buyers are not chasing everything. They are becoming more selective.In today’s lower middle mark...
05/08/2026

Even in active markets, buyers are not chasing everything. They are becoming more selective.

In today’s lower middle market, buyers continue to show strong interest in quality companies, but the definition of quality matters. Businesses attracting the most attention tend to have consistent earnings, diversified customers, experienced teams, and clear opportunities for growth.

Buyers are also paying closer attention to how a company runs without the owner. That does not mean founder-led businesses are hard to sell. Many are highly attractive. It simply means buyers want to understand how sustainable performance will be after a transition.

In the face of uncertainty, selectivity tends to increase. The companies that stand out are the ones that can clearly demonstrate resilience, systems, and a credible path forward. For founders and their advisors, that's an important reminder. Market timing matters, but business preparation usually matters more.

What do you think buyers are scrutinizing most closely right now?

Many owners ask the same question when they begin thinking about a sale: “What is my business worth?” The harder questio...
05/04/2026

Many owners ask the same question when they begin thinking about a sale: “What is my business worth?” The harder question is: “What drives that value?”

Valuation is rarely determined by one number. Buyers are not simply applying a formula to revenue or profit. They're asking whether earnings are sustainable, how dependent the company is on the founder, how diversified the customer base is, how stable margins appear, and whether the business has room to grow.

Businesses with recurring revenue, strong reporting, reliable performance, and experienced management teams often receive stronger interest because buyers see a more durable platform. On the other hand, businesses that rely heavily on one customer, one key employee, or the owner’s daily involvement may face valuation pressure even if historical earnings look strong.

This is why valuation is not just about performance. It's about quality, durability, and risk. For owners, that insight can shape preparation. For advisors, it can help ground client expectations earlier. For serial entrepreneurs, it's a reminder that even sophisticated sellers are judged through the same buyer lens.

Which valuation driver do you think business owners most often overlook?

“How early is too early to prepare for a sale?”Most of the work that matters starts before an owner is even thinking abo...
05/01/2026

“How early is too early to prepare for a sale?”
Most of the work that matters starts before an owner is even thinking about selling, so “too early” isn’t really the concern.

Most owners don't need to begin a formal sale process years in advance. But they often benefit from beginning the right conversations earlier.

That may mean understanding what buyers would view as risks, improving financial reporting, building leadership depth, or reducing the degree to which the company runs through the founder. These are not transaction-only tasks. They're often good business decisions regardless of whether a sale happens soon.

Starting early also gives founders time to think more clearly about their goals. Do they want the highest price? The right cultural fit? A partial transition? Greater flexibility after closing? Better tax planning? More certainty around what comes next?

Those questions are easier to answer before urgency enters the picture. The most successful exits rarely begin with a listing. They begin with preparation and perspective, often involving trusted advisors sooner than owners initially expect.

If you plan to sell within the next five years, what would you want to understand first?

Address

13146 Ballantyne Corporate Place, Suite 275
Charlotte, NC
28277

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 2pm

Telephone

+17046760940

Website

Alerts

Be the first to know and let us send you an email when Viking Mergers & Acquisitions posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Viking Mergers & Acquisitions:

Shortcuts

Share

Category