Exit Planning for B2B Manufacturers
Most B2B manufacturing businesses sell for 30–40% less than they're worth. The reason is almost always the same.
I'm Susan Keshen — Certified Exit Planning Advisor and Fractional CFO. I work with founders of $10M+ B2B manufacturing businesses to close the gap between what their company is worth and what a buyer will actually pay.
Which of These Is You?
You've built something real. Here's what keeps manufacturing founders like you up at night.
Key-Person Dependency
#1 Valuation Discount"My business runs because of me. My customer relationships, my vendor network, my production knowledge — it's all in my head. I know a buyer is going to see that and discount accordingly. I just don't know how to change it before I go to market."
Revenue Unpredictability
"My revenue is real but it's hard to model. A buyer's analyst is going to look at my contract structure, see the renewal risk and project dependency, and low-ball me. I need my cash flows to tell a story that holds up under due diligence."
Customer Concentration
"My top three customers represent the majority of my revenue. I know that's a red flag for any buyer. But those relationships took 20 years to build, and I'm not sure how to demonstrate their durability — or diversify fast enough to matter."
Forced Exit Fear
"I've watched other founders get forced out — a health scare, a key executive leaving, a customer that went to a competitor. If that happened to me tomorrow, I'd be selling from a position of weakness. That terrifies me."
The PE Threat
"Private equity firms and strategic acquirers are actively buying businesses like mine. They have analysts whose entire job is finding reasons to discount my valuation. I feel like I'm walking into a negotiation I'm not prepared for."
Every one of these problems is solvable. But the window to solve them closes faster than most founders realize — and buyers know it.
Case Study
The difference between $0 and $3.5 million was one conversation.
A client came to me with a struggling business division they had essentially written off. Revenue was declining, the unit was losing relevance in the market, and the instinct was to shut it down or hand it off to avoid further losses.
Before they made that call, we modeled the cash flows, documented the customer relationships, and structured a narrative a buyer could actually underwrite.
That division sold for $3.5 million. Without preparation, it would have been zero.
What Preparation Makes Possible
- Recurring contract revenue grew from 18% to 41% of total, raising the EBITDA multiple by 1.2x
- Sold in 11 months — the business was already positioned when the buyer came
- Customer concentration accepted at full multiple after documented relationship depth and retention history
40
Years Experience
200+
Projects
CEPA
Certified
Nationwide
Coverage
How It Works
I don't replace your team. I support you and your team towards one goal: the best possible exit.
Assess
Key-person risk, revenue predictability, customer concentration, operational gaps, owner readiness.
Build
Document processes, grow recurring contracts, reduce owner dependency, strengthen the management team.
Exit
Position for maximum value, coordinate advisors, negotiate from strength — on your timeline or theirs.
Both Sides of the Exit
Most advisors focus on the financial transaction. I'm a CEPA — which means I'm trained in owner readiness too: your identity, your next chapter, and what your life looks like after the sale.
90% of owners report regret within a year of selling. The ones who don't had a plan for both sides.
Manufacturing-Specific Expertise
I understand ERP-driven manufacturing businesses. I know how PE analysts and strategic acquirers model acquisitions in your space — customer concentration thresholds, contract transferability, production process documentation, equipment valuation, and how recurring revenue affects your EBITDA multiple.
I speak the language of your buyers before you're ever in the same room with them.
Who Susan Coordinates
About Susan
The financial outcome was fine. The life outcome wasn't.
I became a Certified Exit Planning Advisor because I kept watching the same thing happen: brilliant founders sell the business they spent their lives building — and a year later, they're lost. The financial outcome was fine. The life outcome wasn't. My job is to make sure both are right.
I'm not your investment banker. I'm the person who makes sure your numbers, your operations, your team, and your identity are all aligned before you sign. I quarterback your existing advisors — your CPA, your attorney, your CFO — and fill the gaps where they don't overlap.
With 40 years in financial leadership and 200+ projects across B2B manufacturing and enterprise businesses, I've seen what separates a good exit from a great one. It's almost never the company. It's almost always the preparation.
As Featured In
Inside Success' Women in Power Series
This interview is a great way to get to know Susan — her story, her approach, and why she does this work.
Free Resources
Start with clarity. No commitment required.
Is Your Manufacturing Business Exit-Ready?
A quick assessment for $10M+ manufacturing founders. Your results are mapped to the 4 key factors PE firms use to discount valuations — delivered straight to your inbox.
The 4 Reasons PE Firms Discount B2B Manufacturing Valuations
How to fix them before you go to market. Names the specific valuation discounts analysts apply — and the preparation that removes them.
A note for manufacturing founders thinking about their next chapter.
Real numbers, real exits, no fluff. PE deal structures, recurring revenue tactics for manufacturers, customer concentration case studies, and owner identity content.
Next Step
Whether you're two years out or two months out — the conversation starts the same way.
A free discovery call to understand where you are, where you want to be, and what's standing between your company's real value and what a buyer would pay today.
No obligation. No pressure. Just clarity.