Episode 114: Inside the Deal with Chuck Stahl

In this episode of the Tech M&A Podcast, we sit down with Chuck Stahl, former CEO and principal owner of D4M International, a global SAP and digital manufacturing consultancy serving the automotive and industrial sectors across North America, Latin America, and Europe. After acquiring the business with a clear plan to build it over three to five years and then sell, Chuck saw that plan through to a successful exit through Corum — including a deliberate pause and return to market along the way.

Chuck reflects on how a Corum webinar on valuations first introduced him to the firm, why starting the process early mattered, and the surprises that came with due diligence, negotiation, and juggling multiple parties on the buyer side. He shares candid advice for founders preparing to sell — making every decision based on building value, accepting that no business is perfect, and knowing when to pause and come back stronger. Finally, Chuck discusses life after the exit, from a more relaxed day-to-day to focusing on growing the business he built.

Takeaways

• Plan your exit from the beginning: Chuck acquired D4M with a clear goal of building the business for three to five years and then selling, and followed that plan through to a successful exit.
• Education opens the door: A Corum webinar on valuations first introduced Chuck to the firm and to the idea of preparing for a sale.
• Start early and expect a rigorous process: Chuck was glad he began preparing well ahead of time, as due diligence involved far more data and back-and-forth than he anticipated.
• A company is worth what someone will pay: His biggest lesson was to put more effort into valuation discussions and research, since the market ultimately sets the price.
• Know when to pause: Stepping back when the timing and climate weren't right — while staying close to Corum — led to much more serious interest when he returned to market.
• Build value as your guiding principle: For any CEO considering a sale, Chuck advises making every decision based on building value, and being ready to shift from negotiating to getting the deal done.
• Life after the sale brings a lighter load: With the deal closed, Chuck is more relaxed and focused on growing revenues and profits rather than the admin burdens he carried before.

Timestamps

00:00 – Introduction: Chuck Stahl and D4M International
00:47 – D4M: SAP and digital manufacturing consultancy
00:59 – Discovering Corum through a valuations webinar
01:45 – The plan: build for three to five years, then sell
02:00 – Surprises: NDAs, buyers, and a longer process
02:36 – Due diligence and outside parties on the buyer side
03:25 – The biggest lesson: valuation and what a company is worth
03:57 – Choosing the eventual acquirer
04:28 – Advice for CEOs considering a sale
04:49 – Going out to market, then taking a pause
05:35 – Returning to market with a stronger story
06:27 – Life after the sale
07:03 – Final thoughts on getting the deal done