M&A Science Live: Cultural Fit Over EBITDA: How to Identify the Right M&A Targets

​Most buyers say “culture matters.” But few can prove it at scale. 

​Salas O’Brien has completed 55 deals since its CEO bought the company 20 years ago, including 30 in Nathan’s three years, with 93% leadership retention.

​In this live interview, we’ll unpack how to source deals at volume, what happens on the first call, and how they’ve become a buyer of choice that companies seek out directly.

​What you’ll learn

• ​Why Salas O’Brien walks away from “good EBITDA” deals that are a bad fit

• ​How they build sourcing lists and get founders on the phone at volume

• ​The first call approach: how to assess culture in 30–60 minutes

• ​How they built a reputation as a buyer of choice (and why sellers skip broad auctions)

• ​The “no retrade unless deception” philosophy and how it changes negotiations

• ​A real example of strategic sourcing

• ​How leadership engagement post-close reinforces retention

​Who should attend

​Corp Dev and M&A leads, operators doing frequent acquisitions, and integration leaders who want fewer surprises after close.

​Agenda

• ​3 min: Welcome + why this topic matters

• ​35–45 min: Live interview

• ​10–15 min: Audience Q&A

• ​2 min: Close + what’s next

​Speaker blurb

​Nathan Rust is SVP of Corporate Development at Salas O’Brien, an employee-owned engineering and technical services firm. He oversees sourcing through deal execution. Salas O’Brien has completed 55 deals since their CEO bought the company 20 years ago, including 30 deals in Nathan’s three years, and has maintained 93% leadership retention across acquisitions.

​​FAQs

• ​​Will this be recorded? Yes. Members can access the full recording in the Intelligence Hub.

• ​​Will the podcast episode be public? Yes, an edited version will be released publicly—often a month or more after recording.

• ​​How do I get early access? Membership includes early access to recordings in the Intelligence Hub.