Level the Field! by Kemp Anderson
The book

You sell once. They buy every week.

That asymmetry is the single biggest reason owners leave money on the table. Level the Field! is Kemp Anderson’s account of thirty years on both sides of it: as an operator who sold his own company, as an acquirer for Middleton, Rollins (Orkin) and Scotts, and as the advisor who now sits on the seller’s side only.

What is inside

Written for the owner, not the banker.

No jargon for its own sake, no theory. Every chapter answers a question owners actually ask, in the order they tend to ask it.

01
Why the table is not level
What a buyer knows that you do not, and the handful of things that close the gap.
02
What your business is actually worth
Earnings quality, recurring revenue, retention and density, and why a range is the honest answer.
03
The buyers, by type
Strategics, private equity platforms and regionals. Who pays for what, and who you will work for afterwards.
04
Running a process
Confidentiality, the blind profile, the buyer list, and why competition is the whole game.
05
The letter of intent
Where your leverage ends, and the terms that decide what you actually keep.
06
Diligence without losing the business
How to survive the scrutiny while still running the company that is being bought.
07
Structure and after-tax reality
Asset versus stock, earn-outs, escrow, goodwill. The headline price is not the money.
08
Life after the wire
Non-competes, transition roles, and the question nobody prepares for: what now?

Owners two to three years out

The chapters on valuation drivers and readiness are worth the most when there is still time to act on them.

Owners with an offer in hand

Read chapters five and seven before you sign anything, particularly the section on exclusivity.

Owners who are simply curious

No obligation attached. Plenty of readers decide the right answer is to keep building, and that is a good outcome too.

Get the book

Paperback or ebook.

The ebook arrives by email. The paperback is mailed to you. Ordering the book does not put you on a call list.

Soft copy
$14.99
Ebook, delivered by email
Hard copy
$18.99
Paperback, mailed to you

Order the book

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Read the book. Then have the conversation.

Schedule a call with Kemp