Mastering the "Messy" Deal: Operations, Discipline, and Crisis Management | Eric Wiklendt

Private equity buyers are not just buying EBITDA. They are underwriting whether the business can keep growing after the founder steps back, whether the management team can execute without everything running through one person, and whether the seller has prepared early enough to run a clean process. In this episode, Doug sits down with Eric Wiklendt, Managing Director at Speyside Equity, to break down how a lower-middle-market private equity buyer actually thinks about manufacturing businesses, business valuation, founder dependency, EBITDA multiples, management teams, due diligence, and what owners should do before selling their company. Eric has worked across manufacturing, operations, corporate M&A, strategy, sales, marketing, supply chain, plant leadership, and CEO-level execution. That operator background gives him a practical view of what private equity is really buying when it acquires a company: cash flow, process, people, culture, repeatability, and a credible path to equity value creation. In this conversation, we cover: • What business owners misunderstand about private equity buyers • Why private equity usually wants to keep strong management teams intact • How corporate M&A and private equity buyers can think differently • Why founder dependency can hurt valuation • The “three-week vacation test” for owner independence • What buyers look for in a management team during diligence • Why scalable, repeatable processes matter before a sale • How private equity evaluates human capital and leadership depth • What manufacturing businesses Speyside Equity looks for • Why the ideal target is often a $50M to $500M revenue manufacturing business • How EBITDA, revenue, cash flow, culture, and operations affect deal quality • Why “close is commencement” in private equity value creation • How unrealistic EBITDA multiples can derail seller expectations • Why owners should start preparing 18 to 24 months before a sale • Why a strong investment banker can be worth the fee • How buyers, sellers, bankers, and lenders manage tension during a deal • Why patience, discipline, and direct communication matter in M&A For manufacturing business owners, this episode is a practical look inside the mind of a private equity buyer. If you are thinking about selling a business, preparing for a future exit, reducing founder dependency, strengthening your management team, or understanding what drives valuation, this conversation gives you the buyer-side perspective most owners never hear until they are already deep in a deal process. Guest: Eric Wiklendt Firm: Speyside Equity Focus: Lower-middle-market manufacturing businesses, operational improvement, buy-and-build strategies, and private equity value creation Learn more about Eric and Speyside Equity: https://speysideequity com/ https://linkedin com/in/ericwiklendt/ Disclaimer: This episode is for informational and educational purposes only. Opinions shared are subject to change and should not be treated as investment, legal, tax, valuation, or transaction advice. Always consult qualified advisors before buying, selling, or investing in a business. Subscribe for more conversations with private equity investors, founders, operators, CEOs, dealmakers, and entrepreneurs building, buying, scaling, and selling businesses. #PrivateEquity #ManufacturingBusiness #SellYourBusiness #BusinessValuation #MergersAndAcquisitions #LowerMiddleMarket #EBITDA #BusinessExit #Entrepreneurship #Acquisitions #PrivateEquityDeals #FounderDependency #InvestmentBanking #BusinessOwners #ManufacturingM&A