The Role of Tax Planning in M&A: Understanding QSBS

What Does a Sell-Side M&A Advisor Do? A Clear Guide for Business Owners

In this episode of The Transaction Abstract Podcast, we revisit a foundational part of the M&A process that is often misunderstood yet plays a direct role in value and outcomes: the M&A advisor. Redpath's Joe Hellman sits down with Mike Hirschberg from Franklin Partners to break down what an advisor actually does in a sell-side transaction. With experience across middle-market investment banking and closely held business transactions, Mike shares a practical view of how advisors help owners navigate one of the most important decisions they will make. From early-stage planning to running a structured sale process, the conversation walks through how advisors create competition, position the business, and manage the many moving parts required to get a deal across the finish line. Mike also outlines how timelines have shifted, what today's diligence environment looks like, and why preparation remains one of the biggest drivers of success. The discussion also addresses common questions from business owners, including whether an advisor is necessary when inbound offers are in place and why investing in sell-side quality of earnings can make a meaningful difference. Across each topic, the theme is consistent: a disciplined process creates leverage, while a reactive approach often limits outcomes. If you are considering a sale, evaluating inbound interest, or simply trying to understand how transactions unfold, this episode offers a clear and practical perspective on the role an advisor plays from start to finish. Topics Covered: * What an M&A advisor actually does in a sell-side process * When to engage an advisor and why timing matters * How a structured process drives value and improves terms * Why sell-side quality of earnings has become essential * The risks of relying on unsolicited offers * How advisors help maintain momentum and drive to close Subscribe to The Transaction Abstract Podcast for more insights like these on buying, selling, and building value through M&A.

Integration Planning in M&A: Where Value Is Realized or Lost

In this episode of the Transaction Abstract Podcast, we focus on a part of the M&A process that doesn't always get enough attention but ultimately determines whether a deal delivers on its promise: integration planning. Redpath's Joe Hellman sits down with Joe Hagen, founder of 29th Street Advisors, to talk through what it really takes to turn deal strategy into execution. With experience spanning corporate roles at Target and U.S. Bank, as well as consulting work at RSM and Slalom, Joe brings a practical perspective on how integration planning unfolds. From early involvement during diligence to Day One readiness and post-close execution, Joe Hagen shares how strong integration planning connects strategy, people, and operations to keep deals moving forward. We also dig into common pitfalls that can slow progress or erode value, including underestimating the level of effort required, misalignment across leadership teams, and failing to plan for key employee retention. Throughout the discussion, the theme is consistent: thoughtful planning creates momentum while rushed execution often leads to delays and rework. If you're involved in buying, selling, or integrating a business, this episode offers a grounded look at what it takes to move from deal thesis to real results. Topics Covered: * Why integration planning should begin during diligence * What Day One readiness really requires * How to align leadership, teams, and work streams * Common integration risks and how to avoid them * The role of discipline and execution in realizing deal value Subscribe to the Transaction Abstract Podcast for more insights like these on buying, selling, and building value through M&A.

The Role of Tax Planning in M&A: Understanding QSBS

In this episode of The Transaction Abstract Podcast, Joe Hellman sits down with Ashlyn Gray, a Tax Senior Manager in Redpath's Transaction Advisory Services practice, to discuss Qualified Small Business Stock (QSBS) and why it can play an important role in transaction planning. QSBS, governed by Section 1202 of the tax code, can allow certain founders and investors to exclude a significant portion of capital gains when selling qualifying stock. While valuation and deal structure often dominate M&A conversations, tax strategy can also have a meaningful impact on the final outcome. Ashlyn explains how QSBS works, the key requirements to qualify, and why early planning around entity structure and ownership can create opportunities for both buyers and sellers. In this episode, you'll hear insights on: * What Qualified Small Business Stock (QSBS) is and how it works * Key requirements businesses must meet to qualify under Section 1202 * How entity structure can influence future tax outcomes * How QSBS planning can affect both buyers and sellers in a transaction * The importance of considering tax strategy early in the deal lifecycle Listen to the full episode to learn how thoughtful tax planning can help founders, investors, and operators protect more of the value created in a business.

From Searcher to Operator to Investor: Lessons in Ownership

In this episode of The Transaction Abstract Podcast, Redpath's Joe Hellman sat down with Rob Cherun, founder and managing partner of Legate Partners, to talk about what ownership really requires and how the search journey shapes better operators and investors. Drawing from his experience building and scaling a business to nearly 2,000 employees before exiting and returning as an investor, Rob shares how grit, accountability, and hands-on leadership define long-term success far more than credentials or deal structure. In this episode, you'll hear insights on: * Why ownership is a long-term commitment, not a shortcut * What investors really look for beyond resumes and industry experience * How grit and emotional durability separate strong operators from the rest * Why the entrepreneur matters as much as the asset in any deal * How alignment and trust shape better partnerships between operators and investors Listen to the full episode of The Transaction Abstract Podcast to hear Rob's real-world perspective on search, ownership, investing, and what it truly takes to succeed.

The Best M&A Deals Start Long Before the Deal: A Conversation on Networking, Trust, and Playing the Long Game

In this episode of The Transaction Abstract Podcast, Joe Hellman sits down with Lee Koury, Managing Director at Smart Business Network, to talk about the role networking really plays in M&A and business transitions. Drawing from decades of experience building relationships with founders, CEOs, and investors, Lee shares how trust, transparency, and long-term connection shape better outcomes... often long before a deal is ever discussed. In this episode, you'll hear insights on: * Why the strongest M&A outcomes are built on relationships, not transactions * How long-term networking creates trust that carries deals through pressure points * The role transparency plays in attracting the right buyers, partners, and advisors * Why peer networks and shared learning environments lead to smarter decisions * How founders can approach networking without forcing the "deal conversation" Listen to the full episode of The Transaction Abstract Podcast to hear Lee's real-world perspectives on networking that matters, relationship-first leadership, and why playing the long game leads to better deals.