14: Inside a Rapid M&A Deal: How Calvin Johnson Prepared Lykki for a Fortune 500 Exit
Calvin Johnson, CEO, Social Entrepreneur, Speaker
This episode features Calvin Johnson, founder and CEO of Lykki, whose journey from teen entrepreneur to successful business exit offers a compelling blueprint for founders aiming to scale and sell. Calvin walks us through his early ventures—starting with fitness retail and home delivery for Costco—before building Lykki, a company that serviced office towers with supplies, coffee, and fresh food. Over 20 years, he grew Lykki to process 1.3 million orders and generate $290 million in total revenue.
Calvin dives deep into the key elements that made his company stand out: combining office supplies and food delivery into a one-stop platform, investing heavily in team culture, and maintaining operational efficiency through tight systems. He shares candid moments about failed experiments (like trying to deliver alcohol and flowers), lessons from technology missteps, and how smart hiring and cultural alignment became cornerstones of growth.
When it came time to exit, Calvin strategically prepared a complete M&A data vault that allowed for a seamless acquisition during the height of COVID-19. His approach enabled him to sell to a Fortune 500 company in just three months—a speed unheard of in most deals. Calvin also shares insights into asset vs. share sales, earnouts, the importance of a sharp M&A lawyer, and why being ready to move fast gave him a major edge.
Post-exit, Calvin founded ClubNeed.org and ClubNeedTravel.com, combining business with social impact by organizing trips to build homes in underserved communities. His story is a masterclass in entrepreneurship, exit planning, and reinvention.
Key Takeaways
Start building your M&A data vault 1–2 years in advance for deal-readiness
Culture-first hiring and top-tier talent drive long-term operational success
Combining related services (coffee + supplies) can create a defensible market edge
Earnouts often underdeliver—opt for cash deals when possible
A top-notch M&A lawyer is more valuable than a flashy M&A firm
Understanding your acquirer’s needs can dramatically increase valuation
Exiting a business doesn’t mean retiring—plan a purpose-driven next chapter
Post-exit, your identity may shift—prepare emotionally, not just financially
Contact Information:
ClubNeed (Social Giving Platform): clubneed.org
ClubNeed Travel (Impact Travel Trips): clubneedtravel.com
