#529 Andy Harris: How Did One Exit Sell for Twice Its Value?

Andy Harris is a former three-time CEO and current President of North American Strategies and Managing Director with STS Capital, and we spoke about how founders can prepare their companies for an exit that delivers more than standard market value. After completing more than 20 acquisitions and six exits, Andy learned M&A by “being in the shoes” of business owners—building companies, managing daily operations, and preparing them for strategic buyers.

His central advice is to remove “founder risk” by creating a capable leadership team, establishing succession, and proving the company can operate without its founder. Owners should also define why they want to sell, what outcomes they require, and what life should look like afterward. Because circumstances can change unexpectedly, Andy argues that “it’s never too early to start” building a business that is ready for an exit.

Andy explains how advisors identify strategic buyers, run a competitive process, and move negotiations beyond ordinary industry multiples. In one case, buyer competition helped a company close at 100% above its base financial value—twice what the owner originally expected. He also emphasizes the emotional side of selling, particularly in family businesses, where stakeholders must remain aligned around their original purpose and preferred outcomes.

Listeners will learn how to reduce buyer risk, strengthen value drivers, create strategic competition, and prepare emotionally for a successful exit.

Key takeaways

• Build leadership that allows the company to operate without its founder.
• Define required outcomes and post-exit plans before starting negotiations.
• Prepare for an exit years before you expect to sell.
• Identify buyers who gain unique strategic value from your company.
• Use competitive tension to move offers above standard industry multiples.
• Align shareholders early to prevent emotional reversals near closing.