16: Inside 47 Acquisitions: What Experienced Buyers Look for in a Successful Acquisition
David Turner, CEO, Velocity Now
In this episode of From Angel to Exit, host Bruce Eckfeldt sits down with David Turner, CEO of Velocity Now, a seasoned executive coach and M&A veteran. David’s career spans leading roles in hyperscale companies and executing over 47 acquisitions, including during IHS’s rise from a $320M company to a $1.8B public enterprise and eventually a $44B exit to S&P Global.
David starts by recounting his early days in software and how he was thrust into M&A during IHS’s acquisition spree. He shares lessons learned from hundreds of due diligence processes and what founders often overlook about buyer motivations—namely, that acquisitions are frequently driven by stagnating organic growth. He breaks down how private equity buyers, in particular, are under pressure to deliver returns and often pursue deals not just for strategic fit but to hit performance targets.
The conversation highlights the critical distinction between startups and scale-stage CEOs, underscoring the frequent mismatch when founders stay post-acquisition. David also explains why many deals fall through—not because of flaws, but because sellers fail to disclose issues upfront or craft a clear, compelling narrative.
Key insights include the dangers of delusion in earn-outs, why founders need to build their “exit story” years in advance, and the mechanics of buyer-side strategy—from criteria-setting to the realities of cold outreach and banker involvement. David also offers a cautionary tale on how one CEO’s arrogance cost him a lucrative deal, reinforcing how much tone and tact matter.
Whether you're 12 months from an exit or just beginning to think about it, this episode is packed with strategic and tactical advice to help you exit smart.
Key Takeaways
Acquirers often buy because they’re struggling with organic growth.
Private equity buyers face increasing pressure from extended fund cycles.
Founders must dilute their own delusion about earn-outs and post-sale roles.
Most successful acquisitions start with strong personal rapport at the leadership level.
Presenting all risks upfront builds credibility and avoids downstream surprises.
Tell your company story consistently—long before you plan to sell.
Time kills deals; speed and decisiveness are critical on both sides.
Due diligence always finds skeletons; buyers care more about how you handle them.
Contact Information:
Website: http://velocitynowllc.com/
