Buyout Diary

Field Notes From My Acquisition Journey

Where I’ve Been, What I’m Learning, And What Comes Next

Dec 1 • 

Alexander Kelm

2

November 2025

Closing The Deal And Entering Ownership

Where Momentum Ends And Responsibility Begins

Nov 23 • 

Alexander Kelm

1

Due Diligence Beyond the Spreadsheet

Where illusions end and responsibility begins

Nov 16 • 

Alexander Kelm

1

Negotiation as Partnership, Not War

How to earn a founder’s trust without losing your edge

Nov 10 • 

Alexander Kelm

4

2

2

Raising Capital the Smart Way - How to fund your acquisition without losing control

Capital is not only money. It is permission, governance, and pace. Here is how to choose the right money for the right deal without giving up the wheel.

Nov 3 • 

Alexander Kelm

2

3

October 2025

Finding Deals That Fit

You’ve written your investment thesis. Now it’s time to step into the fog and start finding deals that actually fit.

Oct 27 • 

Alexander Kelm

3

Clarity Before the Chase: Writing Your Investment Thesis

Before you start searching for deals, take time to write your investment thesis. Clarity is capital, and it costs nothing.

Oct 20 • 

Alexander Kelm

5

2

1

The Operator You Hire Reflects the Owner You Are

Every operator decision is a reflection of your leadership. Here’s how to build trust, structure, and scale that lasts.

Oct 13 • 

Alexander Kelm

1

What Bernard Arnault Can Teach Small Business Buyers

The LVMH playbook — roll-ups, delegation, long-term vision — works not only in luxury, but also in local SMEs.

Oct 6 • 

Alexander Kelm

1

September 2025

Who’s Really Behind a Successful Acquisition?

Acquisition entrepreneurship looks like a solo game from the outside. In practice, the strongest results come from building the right circle of…

Sep 29 • 

Alexander Kelm

1

Europe’s Biggest Entrepreneurial Challenge (and Opportunity)

What happens when thousands of SME owners retire without successors? A challenge, a risk, and a once-in-a-generation opportunity.

Sep 22 • 

Alexander Kelm

1

1

Scaling Through Acquisition: My Thoughts on the Roll-Up Strategy

Why roll-ups can be powerful, where they go wrong, and how they fit into long-term ETA.

Sep 15 • 

Alexander Kelm

1