For owners of businesses with EBITDA between R5 million and R15 million Selling a smaller business can be surprisingly difficult. Many companies in the R5 million to R15 million EBITDA range are too substantial for informal buyers, yet too small to justify the cost and complexity of a full traditional M&A process. That is why we’ve created DLI Direct . These businesses are typically strong and well-run, with solid fundamentals. Yet they often fall outside the

There is always a reason not to sell your business. Family considerations, key employees, market timing, tax, succession uncertainty, or simply the emotional weight of letting go of something you have built over decades. But what I have learned over time is this: the most successful exits are rarely reactive. They are deliberately shaped well before a business goes to market. I recently chatted to two of our executives at DLI, Nitish Mudgal and Taryn Henkel, about what re

In most transactions, we advocate for a structured go-to-market process to create competition and maximise value. Occasionally, however, a different path unfolds: a credible buyer approaches directly. In a recent transaction in the logistics and IT services sector, the shareholders were approached by an existing client interested in acquiring the business. What followed offers useful lessons on decision-making, trade-offs and the realities of deal execution in selling your

In 1989, a teenager started making red braai grid "knypers" (braai tongs) with his father in the garage. By 2025, Johan’s business, LK Products, had become a brand you see everywhere. Pick 'n Pay, Checkers , Builders , and every hardware store. Those red knypers? They’re LK Products. But when it came time to sell, Johan faced a problem most successful manufacturers eventually hit: the business was getting too big for him to add value. Three entities. Complex intercompany re

“Tailored, buyer-led positioning remains the cornerstone of every successful transaction we advise.”

Picture two objects floating in water: a massive iceberg and a beach ball. The iceberg sits stable—90% of its mass hidden below the surface, unmoved by wind or waves. The beach ball floats on top, all visible, all flash, blown around by every gust. This is the perfect metaphor for understanding two very different approaches to M&A advisory—and why that choice matters when you’re planning your business exit. Most business owners are naturally attracted to advisors with slick p