Buyers and Builders

Figure Exit How I Built and Sold to Private Equity (Alexis Sikorsky Interview)

Alexis Sikorsky · September 28, 2025

Entrepreneur · Author · Executive Coach · Leadership · Financein

Interview with Alexis Sikorsky

Figure Exit How I Built and Sold to Private Equity (Alexis Sikorsky Interview)

Podcast: Buyers and Builders

September 28, 2025 · 1 hr 19 min

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Figure Exit How I Built and Sold to Private Equity (Alexis Sikorsky Interview)
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Key topicsThe real test of a scale-ready business is whether the founder can disappearA lot of founders say they have a strong team until they imagine leaving for ten days with no phone, no laptop and no internet. That simple test exposes whether the company has real systems or is still running on memory, loyalty and constant founder intervention. Alexis uses this pressure point to show why informal ways of working are normal in the early years, but dangerous once a founder-led business is trying to move through the £5M–£20M stage. Listeners will hear how to spot the gaps in process, decision-making and accountability before those gaps become the reason growth stalls. The best private equity exits are engineered long before a buyer appears Founders often wait until they are ready to sell before asking whether the business is actually sellable, which usually means the weakest parts of the company are exposed when leverage matters most. Alexis learned this firsthand while building and selling New Access through a staged nine-figure private equity exit, where boardroom reality looked very different from the simple exit advice founders often hear online. Through his Cashing Out work and APeX methodology, he shows founders how to Assess the business, Plan the value-improvement work, Execute the operational fixes and prepare for eXit before a buyer is in the room. For £5M–£20M founders, this conversation turns exit planning from a distant ambition into a practical operating discipline. Why £10M companies need C-suite thinking before they can afford C-suite hiresFounders around the £5M–£20M mark often reach a point where the business needs senior finance, operations and commercial discipline, but cannot yet justify a full-time C-suite team. The default is usually to keep too many decisions with the founder, which adds pressure, slows execution and leaves the business exposed when growth becomes more complex. Through Knightscale Partners, Alexis brings experienced senior operators into founder-led companies for focused three-to-six-month interventions, helping them fix gaps, build systems and develop the right internal capability. For founders stuck between hustle and professional management, this conversation shows how to add C-suite thinking before making expensive senior hires. View all topics →

About Alexis Sikorsky

Alexis Sikorsky, podcast guest

#1 International Bestselling Author and Special Advisor to Founders of £5M–£20M Businesses, Founder Bottleneck and Private Equity Exit Strategist

$100M+ Private equity exit500+ Employees scaled at New Access#1 International bestselling author£5M–£20M Founder businesses advised by revenue

Alexis Sikorsky is a #1 international bestselling author and Special Advisor to founders of privately held £5M–£20M businesses. Through Knightscale Partners, he helps founder-led companies break through the Five Million Plateau, remove founder dependency, build the senior operating layer they are missing, and prepare for scale, recapitalisation or private equity exit.

He moved into this work after founding, scaling and selling New Access, a Switzerland-based private banking software company, through a staged nine-figure private equity exit. That experience showed him the gap between generic online advice and what actually happens in boardrooms when founders are preparing for liquidity, negotiating with investors, or realising the business cannot keep scaling while every major decision still runs through them.

Today, Alexis works with founders at the point where the habits that built the company start to limit the company. A founder can be the biggest asset in the early years, but around the £5M–£20M stage, they can become the bottleneck if the business still relies on their memory, energy, relationships and constant intervention. At Knightscale Partners, Alexis works alongside co-founder Topher Morrison and a roster of experienced senior operators to give founder-led businesses access to the C-suite thinking they need before they are ready to hire a full-time executive team.

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About this episode

My guest today isAlexis Sikorsky. An entrepreneur who bootstrapped, scaled, and ultimately sold a company in a 9-figure exit.

Sponsors

This episode is brought to you by CapitalPad — a marketplace that connects acquisition entrepreneurs who need capital with investors who want exposure to small-business deals. Standardized terms, governance, and distributions included. If you’re raising for a deal—or want to back operators—check out https://capitalpad.com/ - A deal-by-deal private equity investing platform

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We cover:

00:00 Sponsor: CapitalPad

01:36 Who is Alexis Sikorsky

02:03 Early entrepreneurship

03:59 First ISP & internet café in West Africa

05:12 Conflict with government & partner’s death

07:05 Buys training company

07:43 1999–2000: founding the software dev firm

09:20 Buying assets of Logical Access

09:37 On failures & lessons (politics, client concentration)

12:35 “I can’t be employed” mindset / drive to continue

13:06 2008 peak: €11–12M revenue, €3M profit

14:31 “The grind” years: cuts, mortgages, survival

15:17 Private equity calls

16:35 The very optimistic 2-year plan

17:22 The deal: ~11x EBITDA, 85% cash now / 15% later

18:59 Final personal exit; later strategic sale (undisclosed 9 figures)

19:30 Sponsor: ETA Europe newsletter

20:41 “If I had 2023 wisdom in 2003…”

21:22 How much runway to hold; agility for black swans

22:23 Fear, resilience, and hiring “good people” too late

24:59 Personality under stress; heart attack joke

28:07 Why post-PE period was the best

28:13 “Did you sell to the right people?”

28:29 Strengths & weaknesses

30:00 Life after exit

34:31 What retirement actually felt like

35:01 Happiness, safety, safari/diving; minimal “stuff”

39:52 Founders often don’t know their own company

40:52 Know your numbers monthly

43:28 “Fire yourself” from most tasks as CEO

44:51 “What’s your number?” conversation

45:37 Grow to sell vs. morphing into a bank

47:50 Growth vs. lifestyle businesses

50:16 Execute phase cadence

51:08 Best growth levers (context-dependent)

52:03 M&A focus for this audience

52:17 Why M&A is the fast/cheap shortcut

54:01 Leverage math in euros (LBO example)

56:08 PE myths

1:01:05 Negotiate your own contract & non-compete

1:01:23 Managing time during diligence

1:02:21 Readiness test: 1-week no-phone vacation

1:02:37 How to diligence PE (ask for 5, call the others)

1:06:59 What buyers saw that he didn’t

1:10:41 Why founders often under-sell

1:10:55 Nominal EBITDA explained

1:12:13 Over-management at €100M valuations

1:12:35 Where clients fail in execution

1:14:21 Black swans & an online pivot to €100M

1:16:28 Quickfire wrap

1:17:33 Best investing advice (fundamentals over price)

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Guest: Alexis Sikorsky

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