Foundy Success Stories: Nikki, Chris, and the acquisition of Jampot

November 2023

Foundy is delighted to showcase the inspiring acquisition story of Jampot.

In November 2023, serial entrepreneur, Chris West, acquired Jampot, a business management agency for startups and scaleups co-founded by Nikki Wheeldon.

Exemplifying ideal buyer-seller value alignment and the power of early exit preparation, Nikki and Chris have shared their perspectives on completing an acquisition via Foundy for other entrepreneurs to learn and relate to their stories. 

Nikki, Founder of Jampot, alongside her husband as her co-founder, built and scaled Jampot over 7 years. Following impressive organic growth, Nikki decided to find a buyer who could further skyrocket the business’s growth. 

Nikki listed her business anonymously on Foundy, our end-to-end acquisitions platform, and soon started to receive inbound interest from vetted buyers like Chris. 

“When it came to listing on Foundy itself and putting the business on there, it was a no-brainer because we had nothing to lose, it was anonymous” - Nikki, Founder of Jampot 

Chris, who went on to acquire Jampot, joined Foundy as a buyer to find an established business to elevate to new heights. He was looking for an efficient way to buy a business, having previously undergone painfully slow processes using alternative methods. 

Upon seeing Jampot in the Foundy marketplace, Chris reached out to the founder via Foundy’s instant chat to learn more about the business.

“In the circumstance of Jampot, I had all the information there that I needed before I even contacted the seller. It just meant that we could have a really meaningful conversation around progressing to the deal flow section.” - Chris, acquirer of Jampot

Nikki and Chris were quickly able to see that their values and ambitions for Jampot aligned. They initiated the deal process with the support of Foundy’s advisory team, with both Nikki and Chris feeling satisfied with their decision and excited to close the deal.

Jampot was officially acquired in November. 

Chris is ready to dive into his new business, excited to continue Jampot’s impressive growth journey, add his own stamp and take it to new heights. 

Nikki is looking forward to a short break before embarking on a purpose-driven journey to empower female founders as a speaker and communications coach. 

We wish Nikki and Chris all the best as they begin new chapters of their entrepreneurial journeys!

Learn more about each side of the acquisition story:

  • Watch Nikki’s story and insights here.

  • Watch Chris’s story and insights here.

  • Here are 3 questions and answers from this case study that you may be thinking of asking
  • 1.) Can you provide more details about the acquisition process facilitated by Foundy, such as the steps involved and any challenges encountered along the way?
  • Detailed Acquisition Process: The acquisition process facilitated by Foundy typically involves several key steps. Foundy’s (recently upgraded) end to end portal allows sellers and buyers to quickly access all of the tools, education and expert support they need from within their personalised portal. Once the seller has completed their onboarding process, and listed their profile on the platform, either anonymously or openly. Buyers can then browse through the listings and reach out to sellers directly through Foundy's instant chat feature. Foundy has tens of thousands of acquirers in their user base and close network and hundreds of thousands in their wider network. Founders recommend using Foundy’s buyer outreach campaign or exit essentials package to optimise for buyer interest and overall deal value. Once initial interest is established, both parties may engage in discussions to assess compatibility and negotiate terms. Following this, a letter of intent is presented which forms the foundations of the definitive contractual agreement. Foundy's advisory team provides support and guidance throughout the process, helping to streamline communication, address any concerns, and secure the best deal. Challenges in the process could include negotiations over valuation, due diligence procedures, legal considerations, and ensuring alignment between the buyer's vision and the seller's objectives.
  • 2.) How did Nikki and Chris negotiate the terms of the acquisition, including aspects like valuation, financing, and transition plans for the business?
  • Mutually agreeing the Terms of Acquisition: Nikki and Chris negotiated the terms of the acquisition through a series of discussions streamlined by Foundy's platform and expert advisors. These negotiations would have encompassed various aspects, such as determining the value of Jampot, agreeing on the payment structure (e.g., cash upfront payment and payment schedule etc.), finalising the transition plan (including roles and responsibilities during the handover period), and addressing any contingencies or warranties. Additionally, financing arrangements, such as whether the acquisition was funded through cash reserves, debt financing, or equity investment, would have been discussed and agreed upon.
  • 3.) Are there any strategies or tips that helped Nikki and Chris complete a successful deal that could help other entrepreneurs considering selling or acquiring a business?
  • Thoroughly preparing the business for sale, including organising financial records, clarifying business processes, and addressing any legal or operational issues upfront. Ensure your detailed month by month profit and loss statement is up to date and readily available. This includes an accurate calculation of EBITDA.
  • Being transparent and proactive in communication with potential buyers or sellers builds trust and facilitates smoother negotiations. Think ahead and consider what information has not been shared yet. It will most likely come out either way in due diligence so its best being upfront otherwise both parties may lose precious time on a deal that may not complete.
  • Seeking professional advice from expert advisors, including Foundy’s team and specialist partners is critical. A lot of value is at stake so having this help can make a difference. Foundy has an internal team of advisors and we have a close network of M&A advisor partners who specialise in various industries and mark segments.
  • Prioritising alignment of values, goals, and visions between the buyer and seller to ensure a successful and sustainable transition post-acquisition.
  • Leveraging the resources and community from inside Foundy’s portal to enhance the efficiency and likelihood a deal will complete successfully. This includes buyers using our partner's AI powered tool to rapidly cross compare over 100 lenders to identify suitable funding partners that could provide the capital to acquire your intended target.

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