Inside the Mind of an Acquirer: The Independent Sponsor
“Sequoya Borgman is an independent sponsor looking to buy lower middle market businesses. He has acquired 19 businesses and exited two of them,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “He talks about avoiding getting burned by a broken LOI, navigating the flood of buyer outreach, and spotting the difference between a legitimate buyer and a poser.”
What do acquirers really want?
Sequoya Borgman has acquired 19 companies and exited two. He’s raised capital on a deal-by-deal basis, working outside the traditional private equity model. In this episode of Built to Sell Radio, Borgman explains how “independent sponsors” operate—and why more wealthy individuals are now pooling money to buy lower middle-market businesses.
You’ll discover how to:
- Navigate the flood of buyer outreach.
- Spot the difference between a legitimate buyer and a poser.
- Avoid getting burned by a broken LOI.
- Understand the trade-offs in seller financing.
- Think like an acquirer (so you can negotiate better when it’s your turn to sell).
- Decide whether to sell or double down.
Whether you want to sell to a private equity firm, an independent sponsor, or a search fund, this episode gives you an insider’s look at how professional buyers value and structure deals.