M&A Science
Making M&A Boring (And Why That's a Good Thing) with Leon Brujis
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Leon Brujis, Partner and Co-Head of U.S. at 65 Equity Partners
Many of 65 Equity Partners' deals take a year to two years to come together, and Leon Brujis thinks that's the edge. His firm's saying: "The best companies are not for sale." The real diligence is watching a founder hit milestones long before any process starts.
Leon sits down with Kison in New York to break down partnership capital: non-control investments in founder-led businesses, underwriting the founder relationship before the company, and a pull-versus-push approach to value creation. He shares how 65 got to know Allied OMS and Kendra Scott, lays out the five things that decide a term sheet (value, structure, governance, value creation plan, exit), and explains why skipping diligence is the surest sign a market has peaked.
Leon's team tracks 15 to 30 companies it met last year and this year, waiting for the right moment to invest. DealRoom Pipeline keeps that kind of long-running pipeline in one place, with notes, contacts, captured emails, and tasks on every target. Save 10+ hrs a week with automated reporting. See how it works: click here.