HALO Academy 2 Minute Financial Drills: Selection Process

Every Wednesday we release our all new “HALO Academy: 2 Minute Financial Drill" by Integrity Square Founder & HALO Talks host, Pete Moore on everything you need to know for financial literacy, unit economics, legal documents used for M&A and capital raises, capital sources you can access, understanding how financings are structured, valuation metrics and parameters, and what you need to know about your own business before engaging in cap raises and/or a potential sale.

If you missed our email about this, you can re-read it here: https://mailchi.mp/9567da51c0ce/2025programschedule 
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RESOURCES 

• https://www.integritysq.com
• https://www.halotalks.com
• https://www.thehaloacademy.com 
• Watch the video here: https://www.youtube.com/@halotalks 

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ABOUT YOUR INSTRUCTOR 

Pete is the Founder, Managing Partner and Chief Dream Architect at Integrity Square ("ISQ"), a leading boutique financial advisory firm focused on the $4.7T Health, Active Lifestyle, Outdoor ("HALO") sector. Since founding ISQ in 2010, the firm has played an active advisory role in 100+ mergers & acquisitions, private placements and advisory assignments across North America.

Pete Moore and his team have also invested in passionate entrepreneurs at HigherDOSE, XTEND, and Promotion Vault. ISQ's media and "live education" properties include HALO Talks, the leading B2B podcast in the sector, Time To Win Again, and the HALO Academy, an Executive Education Bootcamp Series. 

Prior to ISQ, Pete was Head of the Active Lifestyle & Wellness Group at Sagent Advisors (2003-2010.) Prior to 2003, Pete was co-founder of FitnessInsite, a SasS sales management platform with 1500+ clients (based in AZ.) At FitnessInsite, Pete invested his personal capital, leveraged his credit cards and learned what it takes to manage a startup.

Pete built his business and financial acumen on top of the foundation laid at three critical positions early in his career: Senior Associate at Brockway Moran & Partners, the private equity owner of Gold’s Gym International, Inc; worked as an Associate at Donaldson, Lufkin & Jenrette; and an Analyst at Chase Securities. (Now JP Morgan.) 

ISQ saw a need for a deeper & more useful level of education in the HALO sector. In response, we launched the HALO Talks podcast, with 500+ completed interviews and over 120,000 downloads. HALO Talks has become a “must listen” for anyone working or investing in the sector.

Pete graduated from Emory University (BBA, 1994) and received his MBA from Harvard Business School (1999.) While at HBS, he co-founded IRON PLANET, the leading B2B auction site for used heavy equipment, which was sold to Ritchie Bros for $758 million. His hobbies include: Football, basketball, tennis, podcasting, amateur ventriloquism, pro bono DJ and fitness enthusiast.

Episode Transcript

(00:00):
This is Pete Moore at Integrity Square. I am back to report that we have
received five letters of intent or lois
from strategic parties and a couple of private equity
funds that want to buy the business in a range of 50
to 60 million dollars in enterprise value. We are now
going to have a call or a meeting with our client to review

(00:24):
the pros and cons of strengths and weaknesses of the
five different letters of intent. At this point, we'll probably
spend a week trying to fine tune or optimize
the letters of intent by redlining those back to the
potential buyer to get the best terms on a non
binding letter of intent for them to buy the 20

(00:46):
clubs under code name Project Willow.
Now, the selection process here is important because we have to go down
to one buyer. We're going to have to tell four other buyers that
they are not welcomed into the final round. Groups will then
potentially try and increase or enhance their bid. Or they
might walk away and say, hey, we like this business at our price,

(01:08):
but we're not moving and if you have to come back to us, we will
be available and we're still interested in the business, but we won't pay more
for it. Once we go down the line with one buyer, the
important thing that happens is, is something called exclusivity.
If I am a buyer of a business, I don't want to put
resources and cash that I'm going to have to spend

(01:30):
on the due diligence and a confirmatory review
of all of the company's files and all their
legal, all their permits, all their hr,
everything I need to know to be sure that I want to buy this business.
I need to know that you're not talking to any other buyers. Right, Because
I'm spending money, you have to give me that exclusivity in exchange.

(01:54):
So we're going into an exclusivity which could be 60 to 90 days
with buyer called Ganlon Group.
Oh, I made a cut.