NO RISK IT, NO BISCUIT?
I'm close to submitting an LOI for a B2B service firm. I've talked to some fellow searchers and CPAs, and frankly it seems like they could nitpick every deal, and due diligence themselves out of a turkey sandwich.
At what point do you eventually acknowledge every deal has some risk and go for it versus waiting on the sideline??
I'd love to hear from searchers who have actually closed an acquisition. Were there major skeletons in the closet post close? What are the deal breakers for you pre LOI and in due diligence? Any searchers with major regret in their current business?
In the words of coach Bruce Arians who won the super bowl this year, 'no risk it, no biscuit.'