@MikeBotkin_ Prestige is likely a benefactor of this scenario, and perhaps benefit even more if they had any rollover that was fairly marked.
This happens all the time.
@MikeBotkin_ Why would they be pissed? Could potentially be the opposite.
LMC (or any strategic) being in market right now seeking a higher multiple likely allowed them to pay more for Prestige than LMC (or clearly other buyers) regularly would have been able to otherwise…
@MarkGutman9 Didn’t get to fly first class, but would do it again in a second. Was a huge privilege I was fortunate to have.
Also, no one’s making anyone do this… in fact, there’s tens of thousands of people happily waiting next in line.
I found a guy who goes around the US asking 70 to 100-year-olds their:
• Biggest Regrets
• Biggest Lessons
• Advice to their younger self
Oddly enough, most of their answers are the same…
Here are my top 8:
@lawyer4SMBs Because they’re plumbers and starting their own. Much more difficult for the outsider MBA, etc. to start their own when they can’t do the work themselves…
@RobKufel@bentigg You might be surprised how frequently they do trade for those multiples - and more. Most commonly by PE platforms or other strategic buyers. It happens, a lot. I can’t tell you how many deals we have been beaten on that fit this.