GovCon M&A Talk

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Latest Episodes:

GovCon M&A Talk with Richard Arnholt Sep 18, 2025

Sharon Heaton, the founder of sbLiftOff and a leading small business, growth strategies, and M&A SME, talks with lawyer Richard Arnholt of Bass Berry & Sims about the future of the set-aside market and the impact the new Administration has had on M&A.

Topics covered:

● Changes to 8A and what's likely ahead

● The future of small business contracting goals

● Keeping designation talk out of your company's elevator pitch

● Small business, SDVOSB, WOSB - how to adjust to today's government customer and today's buyers

To connect with Richard, visit his LinkedIn page here.
To learn more about Bass, Berry & Sims, visit their webpage here.

To connect with Sharon Heaton, visit her LinkedIn page here.
To follow and learn more about sbLiftOff, check them out here.

GovCon M&A Talk with Dave Barber Sep 04, 2025

Sharon Heaton, the founder of sbLiftOff and a leading small business, growth strategies, and M&A SME, talks with Dave Barber about what it takes to scale a GovCon business, find your unique niche, and plan that important sale.

Topics covered:

● Strategy on inorganic growth

● Learning from your customers' pain points

● Putting yourself in the shoes of the warfighter

● Preparing for sale and qualifying buyers

To connect with Dave, visit his LinkedIn page here.

To connect with Sharon Heaton, visit her LinkedIn page here.
To follow and learn more about sbLiftOff, check them out here.

GovCon M&A Talk with Brandon Muniz Aug 21, 2025

Sharon Heaton, the founder of sbLiftOff and a leading small business, growth strategies and M&A SME, talks with Brandon Muniz about what it takes for a young veteran to buy a small government contracting business in today's unsteady climate.

Topics covered:

● Developing requirements for the business you will buy

● How to handle buyers' risk and stay married

● How to cobble together financing for a business purchase

● Building on a legacy and creating your own

To connect with Brandon, visit his LinkedIn page here.
To learn more about HeiTech Services, visit their webpage here.

To connect with Sharon Heaton, visit her LinkedIn page here.
To follow and learn more about sbLiftOff, check them out here.

If you liked listening to this episode, view our GovCon M&A page here. To view all of our podcast series, visit our podcast page.

GovCon M&A Talk with Heidi Gerding Aug 07, 2025

Sharon Heaton, the founder of sbLiftOff and a leading small business, growth strategies and M&A SME, talks with Heidi Gerding, one of the first women to graduate from the Naval Academy, about selling a service disabled veteran owned small business.

Topics covered:

● Planning your sale

● Putting senior management in place

● Coping with DOGE risks

● Choosing your M&A team

To connect with Heidi, visit his LinkedIn page here.

To connect with Sharon Heaton, visit her LinkedIn page here.
To follow and learn more about sbLiftOff, check them out here.

If you liked listening to this episode, view our GovCon M&A page here. To view all of our podcast series, visit our podcast page.

GovCon M&A Talk: New sbLiftOff advisor Kelly Kunkle on Software M&A, Valuation, and the Role of AI Jul 24, 2025

Sharon Heaton, the founder of sbLiftOff and a leading small business, growth strategies and M&A SME, talks with Kelly Kunkle about the software industry. Kelly is a new M&A advisor at sbLiftOff focused on technology, from software to SaaS, robotics and more.

Topics covered:

● Strategic buyers and software roll-ups
●Direction of the Software Industry in the future
● How software companies are valued: key metrics and factors
● Breaking down a techstack
● Impact of AI in the Saas Industry

To connect with Kelly, visit his LinkedIn page here.

To connect with Sharon Heaton, visit her LinkedIn page here.
To follow and learn more about sbLiftOff, check them out here.

If you liked listening to this episode, view our GovCon M&A page here. To view all of our podcast series, visit our podcast page.

GovCon Talk: GAUGE Report Jul 10, 2025

Sharon Heaton, the founder of sbLiftOff and a leading small business, growth strategies and M&A SME, talks with Christine Williamson about the GAUGE Report (Government compliance, Accounting, Utilization, Growth, Efficiency), the annual review of government contracting put out each year by CohnReznick and Unanet. This year’s GAUGE Report, titled “Mastering Resource Planning and Project Execution,” emphasized improving “utilization.” This year’s report also includes a survey from February and March in which GovCon business owners and executives relay their thoughts on the significant changes to government contracting in 2025.

Topics covered:

How DOGE was felt across sectors
M&A activity varied according to “tiers,” from sb set aside to full and open
What the authors meant by “Big Utilization”
Going forward tips on how to grow and sell

View the GAUGE report here.

To connect with Christine, visit her LinkedIn page here.
Learn more about CohnReznick by visiting their website here.

To connect with Sharon Heaton, visit her LinkedIn page here.
To follow and learn more about sbLiftOff, check them out here.

GovCon M&A Talk: How Brad Palmer Built and Sold a Standout SDVOSB in GovCon Jun 19, 2025

Sharon Heaton talks with Brad Palmer about growing a GovCon company and selling it. A successful entrepreneur, Brad built B3 and planned the sale of his company in advance.

Topics covered:

Why Brad decided to bring in a partner
Knowing the right time to sell your business
Moving from veteran, set-aside contracts to full and open contracts
Surprising components of the sales process
Brad’s advice to current government contract business owners

To connect with Brad, visit his LinkedIn page here.
Learn more about Sequence Equity by visiting their website here.

To connect with Sharon Heaton, visit her LinkedIn page here.
To follow and learn more about sbLiftOff, check them out here.

If you liked listening to this episode, view our GovCon M&A page here. To view all of our podcast series, visit our podcast page.

Aerospace & Defense Trends: Joseph Dalton Jun 05, 2025

Sharon Heaton talks with Joseph Dalton of Arsenal Enterprise Capital about what’s new with aerospace and defense. A successful veteran who grew a company and sold it he says GovCon isn’t going away. Today Arsenal invests in public and private lower middle market companies that offer the government new capacities to defend against evolving threats.

Topics covered:

Bidding for and winning full and open work
Really listening to the customer and solving actual problems
Why getting on the right vehicles matters
Selling an SDVOSB company while maintaining confidentiality
C5ISR systems and sensors, AI, cyber warfare, and augmented and virtual reality -- the high value, critical competencies strategic buyers like

To connect with Joseph, visit his LinkedIn page here.
Learn more about Arsenal Enterprise Capital by visiting their website here.

To connect with Sharon Heaton, visit her LinkedIn page here.
To follow and learn more about sbLiftOff, check them out here.

If you liked listening to this episode, view our GovCon M&A page here. To view all of our podcast series, visit our podcast page.

Scare The Bear: Matt Dean May 15, 2025

Sharon Heaton talks with investor Matt Dean, the founder of Scare the Bear (STB) Capital, who is focused on non-controlling investments in lower middle market GovCon businesses. Hear what Matt thinks buyers are thinking about today’s churning GovCon M&A market.

Topics covered:

What private equity knows and doesn’t know
Smart capital on steroids – the PE mindset
The “founder mentality” and reality
What minority investments offer owners
DOGE risks and structuring deals

To connect with Matt, visit his LinkedIn page here.
Learn more about Scare the Bear by visiting their website here.

To connect with Sharon Heaton, visit her LinkedIn page here.
To follow and learn more about sbLiftOff, check them out here.

If you liked listening to this episode, view our GovCon M&A page here. To view all of our podcast series, visit our podcast page.

Chaos Creates Opportunity: Joe Humphries May 01, 2025

Sharon Heaton talks with legendary banker Joe Humphries of Atlantic Union, who brings decades of experience in GovCon M&A. Joe gives advice to sellers about planning and provides perspective on how today’s changes, from DOGE cuts to agency configurations, fit into a history of ever evolving federal procurement appetites. Hear what Joe has to say about what banks see as good M&A opportunities today, including “the benefit of chaos.”

Topics covered:

How procurement is changing at DOD
Why there will be more sub contracting opportunities
What drives today’s bankers when they consider a GovCon M&A deal
Advice to GovCon sellers about smart planning
How chaos can create a buying opportunity

Doing Good By Doing Well: Shaunna Balady Apr 17, 2025

Sharon Heaton talks with M&A advisor and software expert Shaunna Balady – a woman who has completed over 100 transactions totaling over $20 billion in enterprise value across 5 continents. Shaunna also helped grow and recently sell a GovCon software services firm. She donates most of her earnings to favorite charities, doing good by doing well. Hear what this amazing software and SaaS expert has to say about the future of GovCon M&A.

Topics covered:

DOGE how government acquisition of software is changing; SecDevOp vs COTS

Why is the government making this pivot?
What makes a software company sellable?
What are large strategic buyers seeking when they look for smaller software companies as targets?

Veterans Mean Business: Bob Eisiminger Apr 03, 2025

Sharon Heaton talks with GovCon leader Bob Eisminger who founded Knight Point Systems and sold it for an impressive sum. A graduate of West Point, Bob used his knowledge of the military to grow his GovCon company. Realizing that as a VAR, Knight Point systems wouldn’t be worth more than a low multiple of profits, Bob pivoted. As a managed services provider with a $1.2 billion backlog on its books, the company looked very different. Hear what this successful veteran entrepreneur says about the journey from business idea to growth through sale:

Topics covered:

Ingredients to growth – why people matter
Business pivots and strategic decisions
Focusing on customers you know and can serve well
When it's time for a sale
Getting through the sale process

Inorganic Growth is No Secret with Gautam Ijoor Mar 20, 2025

A serial entrepreneur since his boyhood in India, Gautam Ijoor founded AlphaOmega in 2016. An agile supplier of DevSecOps, cloud engineering and cybersecurity solutions, the company has grown 40% year after year. In 2020 Gautam decided to bolt on a robotics firm, Confiance Group. This January, 2025, he closed two new acquisitions on the same day. Hear what a successful tech entrepreneur says about smart buys in the GovCon sector.

Topics covered:

Inorganic growth - your company plan
Looking for the right match in M&A
What the government needs now from technology
Buying for strategy not revenue
Happy integrations post close

Learn more about OrangeSlices AI here.

Finding Unicorns: Cos DiMaggio M&A Journey Mar 06, 2025

Winning at GovCon M&A requires providing unique value to government agencies. Cos DiMaggio, a successful serial entrepreneur, shares his tips on science, technology and disruption. Cos founded The Tauri Group with two colleagues and focused on critical areas of homeland security, national defense, resilience, and rapid capability development. Cos’s growth strategy? Compressing the distance between developers and users. Tauri was acquired by LMI. Hear what a successful tech entrepreneur says about his M&A journey:

Topics covered:

Unicorns—finding visionary scientists, engineers, acquisition specialists, and former operators
How solving threat challenges advances your GovCon
What strategic buyers look for
Deciding when and whether to sell
GovCon today – what’s still true

Learn more about OrangeSlices AI here.

SBA Reg Shakeups: Brad Reeves of Reeves GovCon Group Feb 20, 2025

SBA regs dropped last December are still roiling the set-aside GovCon market. Some experts disagree on the regulation's impact with most already in effect and certain M&A provisions set to take effect on January 17, 2026. Hear the experts decode the debate.

Topics covered:

Overview of new rules – defining a disqualifying recertification and discussion of impact
Differences in treatment for single-award and multiple-award contracts
Discussion of GSA schedule as a multiple award vehicle and immediate implementation
How M&A for set-aside companies will be affected

Small buying small opportunities

Whether task orders will be transferable

Benefits of selling a set-aside company prior to Jan. 17, 2026

Learn more about OrangeSlices AI here.

Buyer's Eyes: David Troung of PSI on M&A Feb 07, 2025

Deal value is in the eye of the beholder. What are large companies looking for when they eye small GovCon for acquisition? David Troung of PSI shares his experience on what he as a larger entity looks for when he shops for acquisitions of set-aside companies.

Learn more about OrangeSlices AI here.

M&A to Retirement: Merry Korn's Successful Journey Jan 30, 2025

In Episode 3 Sharon interviews Merry Korn, a GovCon owner who started her Ohio company after she was fired from a job. After years of growth it was time to hand off the baton. Merry shares the ups and downs of her recent sale process and the secrets to a successful GovCon M&A transaction.

SBA Earthquake: New Regulations Affecting M&A with Cy Alba, PilieroMazza Jan 16, 2025

In Episode 2, Sharon Heaton interviews Cy Alba of PilieroMazza about a set of new regulations from the SBA that will shake up GovCon M&A for years to come. The new SBA regulations will significantly affect the value of many set-aside small businesses companies, decreasing the amount owners may be able to get for their entities after January 17, 2026, the date the new SBA regulations take effect.

PilieroMazza is known for its deep GovCon law expertise and Cy is just the guy to explain it all to us.

2025 Market Forecast: M&A Overview with Bob Kipps, Founder of KippsDeSanto Jan 09, 2025

In our first episode, Sharon interviews Bob Kipps, the legendary dealmaker and founder of the GovCon M&A firm KippsDeSanto. Not only does Bob tell his own story of being a client in an M&A process, he talks about what is coming down the pike in aerospace, defense, and intelligence this year. Bob reviews market trends over the last few years, assesses the impact of the new Trump Administration on the M&A market and valuations, and gives practical advice for owners eying an exit in 2025.

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