EP134 – The MSP M&A Landscape in 2026 with Paul Vanstone

Paul joins the podcast to discuss MSP M&A trends and what 2026 may look like after years of consolidation driven by PE-backed platforms, self-funded acquirers, listed buyers, and newer permanent capital vehicles. He explains why the market has been attractive (fragmentation, cloud migration, cyber demand, COVID-driven working changes, inflation-led price increases) but notes the bar is rising for sellers amid economic headwinds, lower price rises, and AI-driven efficiency that may pressure support rates while also creating advisory opportunities and margin protection. Paul breaks down five buyer types, including Evergreen-style permanent capital that buys without heavy integration and offers supplier and group benefits. He advises sellers to plan early, clarify personal and business goals, avoid approaching everyone, optimise operations, and choose experienced M&A advisors and lawyers, with up-to-date financial and tax records.

 

00:00 Welcome and Setup

00:33 2026 MSP M&A Outlook

02:18 Market Drivers and Headwinds

06:01 Who the Buyers Are

09:26 Choosing the Right Exit Partner

12:42 Why Exit Planning Matters

14:49 Optimising for a Future Sale

18:14 Money Goals and Life Purpose

23:14 Building the Right Team

23:53 Picking Advisors and Process Timeline

28:57 Wrap Up and Contact Details

 

Listen on Spotify or Apple Podcasts

 

Connect with Paul Vanstone on LinkedIn by clicking here – https://www.linkedin.com/in/cls946167290/

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/danielwelling/

Connect with Adam Morris on LinkedIn by clicking here – https://www.linkedin.com/in/adamcmorris/

Visit The MSP Finance Team website, simply click here –https://www.mspfinanceteam.com/  

MSP Glossary: MSP Finance Glossary Explained | MSP Finance Team

We look forward to catching up with you on the next one. Stay tuned!

Transcript:

Dan: [00:00:00] Paul, welcome to the podcast

Paul: Great to be here

Dan: And Paul, we, we met, well, only a short, short, time ago, but, we actually met through, one of our, clients – well, a client in common, on the topic of, M&A. And, we’d not come across e-each other before and, it’s been v-very enjoyable getting to know you and, chatting all things MSP M&A.

So we wanted to share with our audience, perhaps some of the highlights of what we’ve talked about over the past few months. And, perhaps, perhaps we could start with a bit of a finger on the pulse in terms of what you see 2026 being like for MSP M&A activity

Paul: Well, thank you. Thank you for inviting me onto the, onto the podcast. I think it’s been a-an interesting period, from an M&A perspective and then perhaps at a bit of a backdrop to it and, perhaps, you know, hopefully echoes of what you’ve [00:01:00] seen. We’ve obviously come from a five or six years of heavy consolidation.

a lot of PE funds have come into the market and, sponsored or backed platforms, and there’s been, you know, very rapid, consolidation in the space and some very well-known ones who’ve made, you know, double digit number of acquisitions. some private companies have been in that, sphere as well, doing the same thing, self-funded.

and then, you’ve also had, some new permanent capital vehicles coming in, which are a little bit different. and there are still new people who want to get into the market. and that, that interest historically, I think, has, the market had a lot of attractive dynamics to it that, that drew that capital in, a combination of just, you know, inherently being a very fragmented space.

A lot of the businesses had, grown up from, sole traders effectively to-to spun out of doing, IT support or set up doing something themselves and grown organically over the last twenty, thirty years and there are [00:02:00] thousands in the UK, north of ten thousand. Many of them have less than ten people, but there’s a decent number out there that are of transactable size or acquiring size or size that can get backing, that have, you know, twenty, thirty, forty, fifty people in there.

decent businesses that have grown well and a lot of attractive dynamics about them. And you couple that with, a market that certainly, you know, last five years has been experiencing a number of growth drivers. There’s been that move to, to cloud in, in the end client base, i-in part driven by security and efficiency.

there’s been that, that emergence of the importance of cyber. the working habits of people have varied as well, working from home, COVID, so that’s required some investment. Inflation has driven through price increases as well. So you had almost like a perfect storm that’s really pushed that market through, both on the sell side, in terms of fragmented market, people wanting to realize value, and then on the buy side, just attractive dynamics look outside looking in.[00:03:00]

And a lot of that, a lot of that still remains in the market. it is a good time to be a seller in the market, I think. But the market, speaking to people, both, investors and, operators in the space, the market is changing, and I think the bar is higher if you’re a business that’s wanting to sell in the market.

relying on your– you, you just being, good enough it doesn’t just compromise your ability to get a strategic multiple, it may compromise your ability to transact if you’re looking to raise capital or to sell the business. And, the backdrop at the moment is one of, that organic growth in the market is slightly tempered by just, economic, wider economic headwinds.

price rises are far lower. cyber and– Sorry, AI is beginning to drive, efficiency in the service provision, but in turn, that is also beginning to put a little bit of, fear of rate pressure coming in, into sort of what you can charge people for [00:04:00] support. if quite a lion’s share or quite a degree of that first-line support can start to be augmented with AI, there is a concern of people coming into the space that actually that’s gonna be quite disruptive.

but still on the positive side, you’ve got, AI coming in, in your customer base. They need to be educated around that, and you can help drive value through that by being a strategic partner with them. if you deploy AI from a service delivery perspective, you can at least protect margin. If you do it well, hopefully enhance margin.

cyber is obviously important. There’s been some, you know, very well-publicized big corporate events around that. I mean, frankly, if you don’t take cyber seriously as an end customer, as a, an SME or a medium-sized business, you, you know, you aren’t really putting yourself a significant risk and your end and your customers at risk.

So that is, you know, dri- driving demand in the customer base. And there still are a decent number of acquirers out there that are looking to consolidate and acquire owner-managed businesses serving, the SME market. [00:05:00] And they remain the same types, you know, PBAC trade, privately funded, vehicles, which, or companies that are looking to, increase scale through acquisition and, the hybrid capital types.

And then there are new pools of capital looking to come in who wouldn’t be household names to people because they haven’t actually done a deal yet, but they’ve got significant backing there, and their investment thesis tends to be quite AI-centric. So taking old-school MSP, overlaying, AI capability, and being ahead of a curve in terms of where the industry is perhaps heading.

Dan: a lot to, a lot to di-digest there and, yeah, a really good summary actually, I think, of the history and some of the current, threat, threats and opportunities. And as we were talking in the, in the green room, let’s hope no one actually figures out the absolute number one MSP secret of turning it on and off again, as that’s, that’s a real threat to, to all of the M&A, promise.

that’s the starting, that’s the starting point, isn’t it? [00:06:00] If it doesn’t work, you turn it on and off, so

Adam: Dan, I know you’ve got a question just lined up, but there’s something just eating away at me and I need to ask it. Paul, can you break down in the simplest language possible who the buyers are? So you came up with a little bit of jargon in there. I think permanent capital vehicle was one of them.

Paul: Yep

Adam: So could you just break it down? You’ve got five different types of buyers, this is who they are

Paul: Certainly, yeah. let’s start at the simple end if you like. Ordinary MSPs that are still owned by their founders or people who’ve taken over from a founder where they don’t have external capital except for perhaps debt, and they are looking to just buy other MSPs. So if you’re an owner of an MSP, you’re looking at, effectively at your peer who is self-funding, who is wanting to, scale up through acquisition.

and they may take on external debt to do that, but they still own the company. So you are selling to another entrepreneur effectively Evolving from that is you’ve got PE-backed [00:07:00] platforms where typically an owner manager has taken on external funding, to help them acquire other MSPs and invest in the business.

They may or may not have taken some money off the table when they took capital investment from private equity. that’s, you know, that, that’s a sort of a decision for them as they go in. But these, these businesses, typically, you know, they raise single-digit millions right the way through to, you know, some of these deals that have gone through two or three rounds of private equity have taken on hundreds of millions to, to invest in the space.

And when I say two or three rounds, if you take on money from a private equity house, that, that partner, your private equity partner will typically be with you for three to five years, and then they will seek to realize their investment. And if you want to continue on that journey of acquiring other businesses and de-risking at the same time, you would go to a larger PE fund and do a second round and take on more money, and they would buy out the old private equity fund.

That’s typically how it work in sort of simple [00:08:00] terms. you’ve then got, just large listed entities who are funded through capital markets, you know, companies that list on stock exchanges that, you may have heard of. And then the slightly newer, capital vehicles that we’re seeing are these permanent capital, you know, the notable one being Evergreen, where they are backed by, the same type of people who back private equity funds, so pension funds.

and they are looking to acquire, MSPs en masse, but without integrating them. So they’re not typically integrating that heavily. and they’re across multiple jurisdictions, but they don’t have a… I mentioned that three to five-year timeframe that a typical PE fund has to, to realize its investment.

They are a permanent capital vehicle, so they will continue going, for as, you know, as, as long as day turns to night. now they’re relatively new, so does that mean forever and ever? I don’t know. But they, you know, that is their sell point and, slightly different from a PE-backed trade acquirer or just a listed trade [00:09:00] acquirer.

Like I said, they don’t typically integrate, so your company, remains independent. you go to market in, in the way you’ve done historically, but you’ll get some benefits of having, some group expertise, at the top co level or the acquiring level, some purchasing benefits, through some of their suppliers.

So they’re a little bit of a halfway house, but give you that independence if you wanna continue your business and keep running it really, or you want to step back and get a professional, CEO in.

Dan: And that neatly leads into my original question actually, which was, I’m sat in the, sat in the seller’s seat and you’ve got all of these different, potential buyers in the market. is the optimum position to try and make yourself attractive to all of those buyers or zone in on a particular type of buyer?

Paul: I think it comes… it’s a good question, and I think if somebody hasn’t been [00:10:00] exposed to M&A or haven’t got close confidence who can give them the inside track, there’s a danger that you want to speak to everybody, and you want to get the best price, and you just go far and wide. And I always sort of compare M&A, to sort of dating analogy, online dating.

You, you are– You often don’t know most of the people you’re going to meet. You don’t know who the right match is. If you try and meet 100 people and then pick your future partner out of those first meetings, you’re probably going to make the wrong decision. If you can identify what a good fit looks like, meet the right five or 10 and spend time with them based on that, get to know them, understand if they are a good fit for you as well, you’re probably more likely to wind up with the right person.

So it’s understanding – I think it’s having a plan about what you want to do personally and what you want for your company. They are different. [00:11:00] On the back of that, that should inform the type of buy or the type of exit route that is right for you, and then you can go on a journey in terms of engaging with those buyers at the right time.

When I say buyers, I use that sort of the colloquial buyer being an investor as well, but your even- eventual exit partner. and the simple truth is as well, a lot of people say, “Well, why do I need an exit plan? I’m not going to sell the business.” You’re going to exit the business at one point, whether it’s you’re selling it, you pass it to your kids, to the staff, or something worse happens, but you are exiting.

it, you need a plan one way or another. So I, you know, that’s one of the fir- first things I say to people who I speak with, and they sort of push thoughts of such things away because they just… It’s not on their mind, but it will be at some point. So I think it’s an informed pro- it’s an informed journey of working out what’s right for you, and then that will inform who you speak to.

Adam: really interesting. and of course, one of the objectives of this podcast, is to help educate and inform, our audience who,[00:12:00] you know, for many, they will only exit once and sell one business. So, for many, you only get married once and therefore, really interesting analogy with the, with the dating, the dating, co- concept and, that where, isn’t that where it breaks down, Dan? Because actually you go through several wives, you don’t just have one

Dan: well, it depends, it depends, doesn’t it? And, and after wife number one, do you want to go again? And, as is a term that some multiple MSP owners have used in

the,

Paul: there’s, yeah, there’s a lot of comparisons, yeah, because a lot of MSB owners do go after sort of three, four years of being out, don’t they?

Dan: Yeah. Yeah. Yeah. So, we’re in danger of going down, per- perhaps a slightly risqué rabbit hole.

but for me, the key point there was that all of this, takes time. So you’re not just gonna get up as a seller one day and say, “Right, I’m gonna sell the business,” and, I’ve put 30 years blood, sweat and tears into it and, therefore it’s worth X to me and I’m just gonna go to the market and, get what I want, in [00:13:00] short order.

th- this has got to be planned

Paul: Yeah, no, that’s a really good point, and you’d be surprised, you know, I’ve been doing it for advisory or on the buy side for almost 30 years. You’d be surprised at the number of times, it’s a minority, but it does happen, where an event happens either to, an owner, an owner’s personal situation or circumstances or something in the market that changes their mind and thinks, makes them think, “I’ve got to go now.”

And so you get a rapid desire, a desire to rapidly transact that wasn’t planned six months in advance. And it’s those ones, nine times out of 10, have to… it’s either you have to put the brakes on and say, “You’re just not ready,” or the reality is that there’s just a, you know, one, two, three, four sort of important aspects of a business that aren’t optimized, and you’re kind of forced into a position of selling [00:14:00] something that, that could have been better if they just planned more in advance.

So yeah, absolutely, it should be thought about well, well in advance, even if you’re thinking about an exit in 20 years’ time because life changes and the environment around you changes, and both of those things can precipitate the need to transact or a desire to transact. So even if I was starting a business myself now and planned to run it as a lifestyle business, I would still have in the back of my mind, “Right, well, okay, well, what is the long term?

What is the journey that I want to go on? And what is pl- what is the plan for when I don’t want to do it anymore?” or do I have a specific, objective to sell for a, an amount, or I want to retire at 60, want to pass it to my children? All these things all have, all take you down different roads.

Dan: Yeah, really interesting. And the key word that I picked up there was the o-o-optimize word because if, if you don’t optimize what you’re selling, then you’re not gonna optimize your the value that you’re gonna, you’re gonna [00:15:00] get, as a result. And, it’s something that Adam and I talk, talk regularly about, in our, in our, you know, e-everyday, conversations with MSP owners.

So, other than time then, what else would you be advising a future seller does to prepare for that optimized future event?

Paul: I think, st- at the very crux of a plan, if you like, work it, work out what you want to do personally as a business owner and where you want to get to. And so that might be money, that might be, lifestyle. It might be that you want to start again and do something else. A whole host of things really drive that.

And also what you want for your business. Do you… And your staff. Do you– Is it all about just maximizing money, or do you want your staff, do you want your staff to be safe in their careers? Do you want the brand to perpetuate? That, those decisions, or those building blocks, if you like, or the [00:16:00] foundations of a, of an exit plan do to a degree dictate which direction you go in.

not mutually exclusively so, but y-you, they might, do sort of inform some of the decisions that you’ll make that will actually have an impact in five years’ time, which will inform an exit. Without going into the sort of the details of each one, all the things that, underpin the building blocks of an exit plan will put you in a better position for which ultimate route you take because nine times out of a 10, most of these things just mean you’ll be running your be- your business better, and they’ll give you optionality, around what you can do down the line.

And by having a plan, it forces you to think about these things, and it forces you to talk about them,  by putting them on a piece of paper or w- a board or with your advisors. And by talking about things and having them at sort of front of your mind, at least, you know, periodically once a month, you’ll tend to get them done rather than something that y-you know you should do but you just don’t do.

So I, I’d sort of [00:17:00] preface what a good plan looks like with all of those types of themes. and I think actually by just thinking about some of those elements, you’ll turn over the stone and come across things that you just hadn’t really considered before because you’re not asking yourself these questions on a regular basis.

And by, by actually just thinking about it, you do, you do explore a little bit more about what you want for yourself and your business. And I think that really should come down to the sort of crux of it all. A lot of people just say, “Oh, I just want to make 10 million or 20 million,” or pick a number, but actually the journey to get there isn’t one that they’ll enjoy.

And that doesn’t necessarily seem sensible to me at the same time as well. So I think it does make you think about these sort of things, when you’re looking at it.

Dan: Ab-absolutely. And the, the tolerances that you have to, like, as you say, maybe the number’s 10 million, well, what are you prepared to do to get to that end result? And the planning process itself is a journey and a destination as, as well, and i-in a lot of ways, [00:18:00] it’s more about the journey than destination.

Having a perfect plan is less important compared to the– what actually going through it forces you to as you say, think about things, look under stones and, and really ponder what you genuinely want

Adam: just on this subject, because I don’t think it’s talked about enough, I think we skirt around the edges of this, quite frankly. we, you know, often with– in these discussions, it always comes down to some kind of target, some kind of… And that target, generally speaking, is a number. It’s generally a financial target, a goal. And okay, there’s some other things around what do you wanna do with the staff, what do you wanna do with the brand, all the rest of it. but you know, traditionally, the world of M&A is all about finance numbers and returns for people, right? and risk management.

And, it’s interesting because, you know, this is all relative. Everything’s so relative. We’ve got one man’s one million is another man’s 10 million is another man’s 100 million is another man’s billion. and in all the research out there has shown that, you know, the guy that’s got the billion has the same [00:19:00] problems that the– as the guy that has the million, right?

He’s just operates– just got different problems. Just got different problems, you know? And, but he’s still… See, but he’s still the same person, same individual, sees the world in the same way as he did before. and so we– I’m, I’m essentially what I’m saying is that you’ve got to think why, if it’s 10 million you’re after, why is it 10 million?

What is it about that number that is actually meaningful and purposeful for you? Why does it matter? And I think there’s something really interesting about having some of those deep sort of thoughts and reflections around that, because otherwise you’re just on this journey, yeah, maybe putting yourself in situations you don’t really wanna do, maybe working harder than you wanna do, maybe your work-life balance isn’t quite where you want it to be.

these are big questions, you know, and I think, I encourage everyone to have life plans around this sort of process and absolutely you don’t wanna undercut. You don’t wanna undercut, but be really clear why that number is important to you, because it might actually not be something you’re searching for and you get it and you realize it wasn’t what you wanted all along.[00:20:00]

Paul: Yeah. I absolutely agree with everything you said. And I, having been on the buy side and you spend time with people af- and also as an advisor, you retain, contact with people and some of my previous clients are lifelong friends. You see people going through that journey and as you say, when you sell a company, I mean, yes, you might be involved, for a bit if it’s a trade deal, but all of a sudden that massive part of your life’s gone.

And it- it’s an interesting journey. I don’t think enough people think about that before they go into that sort of exit planning. and it’s an important point. And the other, and linked to that, and you did talk about, you know, the start and the finish of a journey. I’m a great believer in, I mean, especially if you’re an owner of a company, ultimately within certain sort of confines of normality, you can do what you want.

It’s your company. And a lot of these successful MSPs were, have done well because at the, at [00:21:00] least at one point in, certainly at inception and through, the journey, or at a, you know, current point in time or up to a point, they did well because the owner did something very well And a lot of them started off as one, two, three people, so they had to, you know, he, he or she had to have been very good at one or two things, whether it’s technical services or sales, or, you know, winning work or new technology.

They were very good at something. And as a business grows, and it comes to the point about relativity, you’re in your, a new environment which may not be the environment you enjoy anymore. You may be making money, but all of a sudden you’re having to manage people, you’re having to manage finance. You may be a technical person, but you hate selling, et cetera, et cetera.

You may be a salesperson who actually hates being t- on the technical side. And one of the luxury that, having a business does afford you is to get yourself into a position where you are really enjoying what you’re doing. it’s motivating you. And yes, you [00:22:00] can– I mean, you do what you… One of the natural things to say to a owner-manager is, “Well, become more strategic.

Step back so you’re not critical to the day-to-day.” That is true, and that, that gives you optionality. But if that means that you see yourself as a CEO and all of a sudden you’re having to do all the HR stuff and deal with people who misbehave and don’t perform and all that is what your job becomes, but you don’t enjoy that, and that’s, and y- but you still want to achieve an exit of 10 million, but that’s seven years away, well, that sounds like seven years of not really enjoying what you’re doing.

But actually, if you think ahead and think what you enjoy, you can find or you should try aspire to find the people that do things that you don’t want to do because they are good at it. And surround yourself by people who are as good as you or better than you at things you don’t want to do.

And the best CEOs and owners I’ve ever met have been the ones who have done that. They’ve got a good team around them, and it means they’ve enjoyed the journey far more. And it, we’re, we’re sort of drifting into the [00:23:00] sort of, you know, phil- philosophical and, you know, what motivates people in life.

But I think that should inform the foundation of your exit plan because it will make that journey far more fulfilling.

Dan: hu- hundred, hundred percent. And, I guess this is where we normally end up drifting into, signposting people towards the, the, EOS concept. and as you said, you can end up in a, an integrator or visionary role and might, but, you know, which one best suits you and, and all of that comes back to the tolerances and what your, overall life plan are.

So, and I guess, one, one of the things that, you mentioned earlier that I think is critical to this, and a role that we all have in common, working with our clients is that of a advisory and being part of that board, of, assistance to, to working through these topics.

So, what advice around, picking advisors, for example?

Paul: Yeah, I think you want to, [00:24:00] ultimately I- if you, the actual act of selling a business from starting cold, like, “I want to sell my business tomorrow,” and you don’t have anyone appointed to having completed a transaction. Reality, you’re looking at six to nine months, maybe shorter. But one, if you haven’t done any prep and all that needs to be done, and then you’ve got to go and f- speak to the, the buyer, the buyer community, you know, go on a dating game.

and then you find the partner that you want to sort of transact with, and you have to negotiate with them, and then you’re into diligence. It takes time, and it is a, an all-encompassing period of your life. the number of clients I’ve had who have said, “That was, that was the most pivotal point in my life,” apart from being married and my first child, maybe.

Maybe one of, one of those two doesn’t feature in that. but also a combination of most enjoyable, the most exciting, and the most stressful. all of those wrapped up into one. So you’ve got to pick somebody. And, talk just, sort of base level from a corporate finance advisor [00:25:00] perspective because they sit across everything.

You’ve got to pick somebody who you definitely believe is going to be there with you in the trenches getting the deal done because it is… It, you do get drawn into it, and it becomes a big part of your life, and it can be a distraction on running the business. So it’s about trust. It’s about their, obviously their ability to advise you and their network, and their dis- their ability to really understand your business and articulate it in a way that appeals to the buyer audience because they’ll be having a lot of conversations.

You will not be doing all the conversations with all the buyers. It’s physically impossible. It’s their job to act as a buffer between you and them as well. So find someone you can absolutely trust with, that you can see yourself being in the trenches with for six to 12 months, and, s- somebody who you genuinely believe gets you and your business.

Not just your business, but you as well, going back to the whole point about what you want out of something. I, yeah, I use some of those timeframes, sort of intentionally [00:26:00] to emphasize the point that actually look further out than just six to 12 months. Actually, the ideal time to sort of be speaking to somebody is when you’re formulating your plan.

You don’t have to appoint somebody to sort of formulate your long-term plan, but actually sharing that with some people who’ve been involved in M&A, whether it’s, they’ve had their businesses acquired, like, you know, yourselves from an operational perspective, you’ve been sellers.

someone like myself who sells businesses, in the sector on a regular basis and sense check your aspirations with them so, you know, they are realistic from an exit perspective. but also keep that dialogue going, whether it’s formal or informal, so you can share Your journey with somebody because being a founder is often a lonely experience, especially if you’re a sole founder.

Who else are you gonna talk to about, you know, the challenges at work, strategy, money? You’re not gonna be talking to your employees about a lot of those things. Your wife, well, if she’s interested and she understands. Your friends, you know, you don’t talk about a lot of these [00:27:00] things on a personal level.

So having somebody outside the tent who can guide and just be a sounding board is invaluable, and can help, give you some market feedback real time as you go. So it’s both the right person, but also that person ideally should be on the journey with you for at least a f- at least a few years.

And I, I can always tell when I’ve worked with businesses or acquired them, I can always… it’s always very obvious if someone has had proper advice because they’re just, they’re far more informed on what the process… They’re ready for it as well, personally, and the company’s ready, and it’s been optimized so that maybe we’ll come to some of the things that you can do, in the run-up to do, to a sale.

So yeah, corporate finance advisor, critical, that you’ll really get to know them over that period of time. and then, other advisors like your lawyers, definitely, get a, your lawyer that, who’s, is experienced in M&A. one of the danger signs if I’m, and I’ve been on the buy side, is someone’s got their lawyer that they’ve always used to do a bit [00:28:00] of work here and there, a bit of family law, do a bit of business law, and it just unravels.

It just goes wrong because they, they don’t understand where the market norms are from a transaction M&A perspective, and it can be painful, frankly. So, a lawyer that you trust, who, is again, give you a commercial view rather than just a legal view, because that’s important sometimes. outside of that, you’ll, depending on how much capability you have in- internally versus externally, you’re okay if you have external accountants, tax advisors.

You, you know, you want people who are… they’re more likely to be a long-term business partner of yours anyway. But y- you know, coupled with that, y- you want good quality information. You want it all up to date because all of that sort of stuff will be crawled all over, come transaction time.

so if you haven’t, got your tax affairs in order and stuff like that, definitely get those things, get your ducks in a row on that side of things.

Dan: Really, good advice. And, I’d love to carry on the conversation and get into a bit more of the [00:29:00] detail, but we are, we’re pretty much on, on our time budget. So I think what that means, Paul, is we’re gonna have to have you back for, for another episode. and hope- hopefully we can organize that in the, in the coming weeks and months.

In the meantime, if anyone wants to carry on the conversation, how best to get in touch?

Paul: Yeah, I’m– Well, I’m on LinkedIn. I guess I think you’ve also put my email address in the, in the, in the script as well [paul dot vanstone at equitymsp.com], so yeah. or phone. I’m happy my phone number to be on there as well. So always happy to have a chat with somebody, even if they like, to the point of this conversation, even if it’s five years away, it’s, it’s always good to sort of meet, meet somebody early on and form a relationship.

Dan: Very good. any final thoughts, Adam?

Adam: no, only just, picking up on Paul’s point about working with a good accountant and finance team. if only there was a specialist in the market that dealt with

Dan: be? Who could

Adam: anyway, but,

Dan: that be?

Adam: yeah, no, really good session today. l- so much to talk about. and yeah, be great to have you back.

Paul: Enjoyed it. Thanks guys

Dan: Thank [00:30:00] you

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