E169: Bakari Akil: Mastering the Art of Deal Sourcing and Structuring in Mergers and Acquisitions

How2Exit: Buy, Don't Build - M&A of Small Businesses

"This episode was brought to you by Reconciled.com. Helping M&A Entrepreneurs just like you with Bookkeeping, CFO & Controller Services, Outsourced Enterprise Accounting and Tax Services. Reconciled.com"
Watch it on Youtube: https://youtu.be/TT5eLntYExk
About The Guest(s): Bakari Akil is the founder of Graves Hall Capital and an expert in mergers and acquisitions. He has bought several companies, including a burlap bag manufacturing company and an educational technology company. Bakari teaches entrepreneurship through acquisition at Cornell's business school and has a unique background in the field, having dropped out of college and learned about M&A through self-study and attending classes at top business schools.
Summary: Bakari Akil shares his journey into the world of mergers and acquisitions (M&A) and entrepreneurship through acquisition (ETA). Despite not having a formal business education, Bakari was determined to find a path to success. He discovered the concept of leveraged buyouts and realized that he could buy an existing business and use bank financing to fund the acquisition. Bakari audited classes at top business schools and built a network of business brokers and investment bankers to source deals. He successfully closed several transactions, including the acquisition of a burlap bag manufacturing company and an educational technology company. Bakari's approach to deal structuring and capital sourcing has allowed him to complete transactions without using his own capital.
Key Takeaways:

• Bakari Akil's unconventional path to success in the world of mergers and acquisitions.
• The concept of entrepreneurship through acquisition and the advantages of buying an existing business.
• The importance of deal sourcing and building a network of business brokers and investment bankers.
• The role of independent sponsors in structuring deals and attracting capital.
• The challenges and rewards of completing M&A transactions without using personal capital.

Quotes:

• "I can go and borrow money from the bank for an existing business that's already up and running."
• "I actually don't put up a lot of money. I actually get paid when I buy a company."
• "There's no free lunch. There's no, 'I'm getting it for free.' It's going to cost something."
• "Be willing to go through that toughness and that grind and not expect to be able to get some great business for no money."
• "There's a ton of time and grind and waiting and patience that goes into doing this."

(Note: The quotes provided are direct quotes from the transcript and may not be suitable for social media sharing. Please select appropriate quotes for social media use.)
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Contact Bakari on
Linkedin: https://www.linkedin.com/in/bakariakil/
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-Why IT ExchangeNet?
Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match.
"Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron Skelton
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Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.
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