Glen Leibowitz

  A   leveraged buyout (LBO)   exit strategy allows   private equity firms   to acquire startups using debt, providing liquidity to founders while driving returns through cash flow and operational improvements. If you’re evaluating exit options beyond IPOs or acquisitions, an LBO gives you a different path. This article explains how LBOs work, what makes your company a viable candidate, and the trade-offs compared to other exit routes. You’ll see when LBOs fit, how to prepare, and what to expect after private equity takes over. What is a leveraged buyout (LBO)? An LBO is a deal in which a private equity firm acquires a company using a mix of equity and large amounts of borrowed money. Debt often accounts for 70% or more of the purchase price.  Read On . 

A leveraged buyout (LBO) is an acquisition where you fund a meaningful portion of the purchase price with debt, then use the company’s cash flow to service and repay that debt over time. You use an LBO structure to control a larger asset with a smaller equity check, aiming to lift equity returns through disciplined operations and debt paydown. This guide gives you the plain-English mechanics that lenders and sponsors care about, plus the deal math entrepreneurs must internalize before signing an LOI . You’ll walk through the sources-and-uses blueprint, realistic leverage levels, common failure points, return drivers, and what financing shifts since 2024–2025 mean for buyers running real businesses.  What Is A Leveraged Buyout (LBO), In Plain English And Why Use So Much Debt? An LBO is buying a business using a mix of equity and borrowed money, where the target company’s future free cash flow is the primary engine that repays the acquisition debt. You still negotiate price, diligen...

  A   SPAC merger   takes your private company public by combining with a pre-listed shell company. You move through structured phases—SPAC IPO, target search, due diligence, merger agreement, shareholder vote, and de-SPAC closure—typically within 6–9 months. When you pursue a SPAC merger, you gain a faster path to the public markets than a traditional IPO. This article breaks down the full process step by step, helping you understand what each stage involves, where the risks lie, and how to maximize outcomes in compressed timelines. How does the SPAC form and raise capital? The process begins when a sponsor creates a Special Purpose Acquisition Company (SPAC). This entity has no operations—it exists solely to raise money and acquire a target.  Continued . 

  The main exit options for startups—IPOs, acquisitions, SPACs, and LBOs—each carry distinct benefits and risks. Your best fit depends on growth stage, capital needs, and risk appetite. Exit planning defines how you and your investors ultimately capture value. This article breaks down the pros and cons of IPOs, acquisitions, SPACs, and   leveraged buyouts (LBOs) , helping you assess which option aligns best with your company’s maturity, financial profile, and strategic vision. What are the advantages and disadvantages of an IPO? An IPO provides access to public capital markets, allowing you to raise significant funding for expansion, repay debt, or provide liquidity for early investors. It also enhances brand visibility and credibility, making it easier to attract talent and partners.  See the Full Piece . 

  During and after an IPO, your company transitions from private to public trading, faces quiet period restrictions, experiences stock stabilization, enforces insider lock-ups, and assumes permanent reporting and investor relations responsibilities. Crossing the IPO finish line is just the beginning. The bell ring signals entry into a demanding new phase where trading dynamics, compliance rules, and investor expectations redefine your daily operating environment. This guide gives you a clear breakdown of what to expect immediately after listing and the permanent shifts you must manage to succeed. What happens immediately after an IPO? The day after pricing, your stock officially begins trading on the public exchange. From that moment forward, the market sets the daily narrative. Demand and supply, driven by both institutional and retail investors, dictate valuation.  Learn More . 

  In the last 100 days before your IPO, you must finalize governance approvals, complete compliance filings, polish your investor roadshow, and align internal readiness to deliver a successful public debut. This period is the most concentrated phase of IPO execution. You’ll see how to structure your countdown, focus your leadership team, and ensure no critical step gets missed. This guide provides a clear, step-by-step roadmap designed for CEOs leading their companies through the final sprint toward the public markets. What should CEOs focus on in the final 100 days before an IPO? Your focus narrows to execution. Planning gives way to delivery, and as CEO, you must lead your team in unifying strategy, compliance, and communication.  Continue Reading . 

  The hidden costs of an IPO include underwriting, legal, accounting, compliance, listing fees, technology upgrades, investor relations, insurance, and management time, often totaling 10–17% of the capital raised. When you take a company public, the expenses stretch far beyond underwriting fees. You need to plan for every hidden cost of an IPO, including both one-time and recurring charges. This article breaks down the less obvious expenses, shows how much they consume from your capital raise, and explains the ongoing costs you’ll face after listing. What are the hidden costs of an IPO? The most underestimated costs come from preparation and compliance requirements. You’ll encounter direct expenses like underwriting, legal, accounting, and regulatory filings, but the indirect items are where many executives get caught off guard.  Read More . 

A seamless IPO journey depends on deploying the right software tools early to control data accuracy, coordination, and execution speed while reducing friction across finance, legal, and leadership teams.  Preparing for an IPO places sustained pressure on your financial systems, internal controls, documentation processes, and leadership coordination. This article breaks down the ten essential tools that experienced operators rely on to manage complexity, maintain credibility, and move confidently through each stage of the IPO process without unnecessary delays or surprises.  1. IPO Project Management Platforms IPO project management platforms act as the operational backbone of the entire journey by centralizing timelines, task ownership, dependencies, and deliverables across internal teams and external advisors. These platforms replace spreadsheets and email threads with structured workflows that reflect real IPO sequencing. You gain a single source of truth for readiness miles...