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20 Questions Prospective Buyers Ask

20 Questions Prospective Buyers Ask
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How Does Your Company Rate? 

20 Questions Prospective Buyers Ask

Before you put your business up for sale, you need to be prepared to evaluate its status from a number of different perspectives besides your own.

Much of what you know about your own company is from your own experience, looking back over what you have accomplished. After all, it has consumed your time, your energy, your passion, and who knows what else for who knows how long!

Your buyer, on the other hand, is looking at your company from a completely different perspective: looking forward, what will this company do for them? With this in mind, prospective buyers are going to want to conduct a careful examination of all aspects of your business, both negatively and positively. 

Every business is unique, with its own risk factors and opportunities. Your prospective buyer’s goal is to be able to structure a deal in their own best interests that will maximize the upsides and minimize the downsides of your company. To accomplish this, the buyer will want to ask questions—lots of questions—about how your business operates. You’ll want to respond honestly, with an aim to inform, not impress.  If you try to oversell it, they will no doubt find out in due time through due diligence. 

You can be prepared in advance for the kinds of questions they’re going to ask.  Whether buyers’ considerations are financial or strategic, most have a set of gating questions they want to know about a company, before even considering it for an acquisition.

Here are the top 20 topics on a buyers’ mind (read through to the end and then take our quiz to see how your company stacks up!):

  • Profits 
  • Revenue growth
  • Stability
  • Market share in your niche
  • Customer retention
  • Customer concentration
  • Competition
  • Overhead and expense controls and budget history
  • Product/market obsolescence
  • Cap-ex
  • Capital Efficiency
  • Management team strength
  • Regulatory environment
  • Environmental risks
  • Maintenance of IP
  • Social or cultural issues
  • Planning Processes
  • Corporate governance
  • Operating and financial metrics
  • Dealing with technological change

Now, if you want to see if you would make it to the next level of serious buyer interest, take our quiz and get your score. 

We’d be happy to discuss your results with you. Reach out to discuss the best path for your company to grow and for you to build generational wealth through the recapitalization or sale of your private company. 253-370-8893 | Craig.Dickens@meritinvestmentbank.com | @MandAexit.

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Merit Investment Bank, a leading middle market investment bank, with a specialization in building products, is honored to have served as exclusive advisor to VaproShield (“VaproShield”) in its sale to (Muncaster Capital.)

by: Merit Investment Bank

SEATTLE – October 31, 2025 – PR.com – Merit Investment Bank (“Merit”), a leading middle-market investment bank with deep expertise in the building products and construction materials sector, is pleased to announce that it served as the exclusive financial advisor to VaproShield, a premier manufacturer of high-performance air and water barrier systems, in its sale to Muncaster Capital, a privately held investment company based in Texas.

This strategic transaction represents a significant milestone for VaproShield, a recognized innovator in the building-envelope industry. For more than two decades, the company has pioneered the design and manufacture of high-performance, vapor-permeable air barrier (AB) and water-resistive barrier (WRB) membranes and accessories. Through its commitment to research, sustainability, and customer-focused innovation, VaproShield has become a trusted partner to architects, builders, and developers seeking to enhance energy efficiency, moisture control, and long-term building performance.

“The sale of VaproShield shows what’s possible when visionary founders create real value and plan strategically for an exceptional exit,” said Craig Dickens, Chairman of Merit Investment Bank. “We were honored to help align the company with the right partner, culture, and capital for its next stage of growth. This milestone reflects years of innovation, discipline, and thoughtful preparation leading to an outstanding outcome.”

The acquisition by Muncaster Capital, am ESOP, will provide VaproShield with additional resources and strategic backing to expand operations, accelerate innovation, and strengthen its presence in both domestic and international markets. Muncaster’s long-term investment philosophy aligns closely with Vaproshield’s mission to deliver environmentally responsible, high-performance solutions to the construction industry.

“VaproShield has built an exceptional brand through innovation, sustainability, and performance,” added Chris Barnes, Managing Director at Merit Investment Bank. “It was a privilege to advise such a forward-thinking team whose commitment to excellence andcustomer trust has made them industry leaders. This transaction delivers a strong outcome for shareholders and positions VaproShield for its next phase of growth.”

Legal counsel for the company was provided by Holland & Knight LLP. Merit extends its appreciation to Stephen McKay and the firm’s M&A team for their seasoned legal guidance and support throughout the transaction, ensuring a smooth and efficient closing process.

The company was also advised by Baker Tilly US, LLP. Merit acknowledges Preston Smith, Director – Transaction Advisory, and Michael Hurst, Partner – Tax, for their expert guidance and transactional support. Their technical insight and professionalism were instrumental in achieving a successful closing.

About the Buyer

Muncaster Capital of Texas, Inc. is a privately held holding company based in Ennis, Texas, primarily associated with the building materials and protective coatings industry. Established in 1986, it serves as the parent company for Polyguard Products, a leading manufacturer of high-performance barrier systems, air and moisture membranes, and protective coatings used in construction and infrastructure projects.

Muncaster Capital oversees operations focused on innovation, sustainability, and long-term business growth within the building-envelope sector. As a mid-sized, family-owned enterprise, it plays a strategic role in managing assets, guiding corporate development, and supporting Polyguard’s mission to deliver durable, energy-efficient solutions to the construction industry.

About Merit Investment Bank

Merit Investment Bank is a leading boutique investment bank focused on serving founder/family-owned middle-market, technology-forward companies. The firm principally executes sell-side M&A, as well transactions with specific emphasis on the building products technology, infrstructure, consumer, and manufacturing/distribution/industry 4.0 sectors.

In addition, Merit offers services including buy-side M&A debt and equity capital raises, restructuring advisory, business valuations, and project financing.

Securities offered through Finalis Securities LLC, Member FINRA/SIPC. Merit Investment Bank and Finalis Securities LLC are separate, unaffiliated entities

Contact:

Craig Dickens, Chairman

Merit Investment Bank

Craig.Dickens@MeritInvestmentBank.com

253-370-8893

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