Everything Eric Pacifici said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Pacifici: Generalist and Big Law attorneys poorly serve the $2M–$25M market
“Most folks who do M&A in the two to fifteen million or two to twenty five million dollar enterprise value space are either general lawyers who don't know M&A at all, do a really bad job for their clients.
We see that a ton on the sell side, or they're really g…”
Pacifici: Earnest money deposits do not belong in small business M&A
“Earnest money deposits, for example, is not an M&A concept. Very Common in real estate. Obviously, if you ever bought a house, put down some earnest money, and it makes a lot of sense there. It doesn't make sense in in small business M&A, but you've got a lot …”
Pacifici: Hiring a Big Law firm for SMB M&A is counterproductive
“Having a high powered corporate law firm on your side, it's like bringing a bazooka to a night fight. It doesn't make a ton of sense.”
Pacifici: Small business buyers often seek exits within 18 to 48 months
“What we're seeing is there's a relatively fast life cycle. You know, guys and gals will go out and buy businesses when they're 35 and fresh out of business school or whatever, and then 18 to 24 to 36 to 48 months later, they're oftentimes looking to sell.”
Pacifici: Ex-Wall Street buyers struggle in SMB deals by skipping QoE providers
“I see a lot of really sophisticated people financially struggle with the financial diligence piece of it, because they come in, you know, they've got 10 years of experience at Goldman Sachs, right? And they're like, I don't need a higher quality of earnings pr…”
Pacifici: SMB Law Group closed $950M in enterprise value last year
“Well, last year we closed about nine hundred and fifty million enterprise value. The amount that we, those are closings. The amount that we worked on is in the several billion and then in terms of sheer number, maybe a couple hundred transactions that we've wo…”
Pacifici: SMB deals typically die in financial diligence or from deal fatigue
“Generally speaking, your deal is going to die really in one of two stages. It's either going to die in the lending process, in the quality earnings process, you know, your financial diligence, you've gone under LOI, you've now lifted the hood, and you're seein…”
Pacifici billed $1,500 an hour in Big Law before starting SMB firm
“I was billing at 1500 bucks an hour at the time, so way too expensive to do a Main Street deal.”
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