SaaS Acquisition Criteria:
1. Revenue Quality & Recurrence
MRR ≥ €50k (ideal ≥ €150k)
Recurring revenue ≥ 70%
Monthly churn ≤ 3%
NRR ≥ 100%
YoY growth ≥ 15%
Deal breakers:
MRR < €30k • churn > 5% • no real recurrence • single customer > 20%
2. Profitability & Margins
Gross margin ≥ 75–85%
EBITDA margin ≥ 20–30%
Positive cash conversion
Server costs < 10% of revenue
Deal breakers:
Gross margin < 60% • negative EBITDA • uncontrolled infra costs
3. Product & Technology
Clean, documented codebase
Modern stack (Node, Python, React, etc.)
Low technical debt
Clear product roadmap
Deal breakers:
Obsolete stack • undocumented code • no developer for transition
4. Customer Concentration & Risk
No customer > 10% of revenue
No segment > 40%
Low dependency on integrations or partners
Deal breakers:
1 customer = 30–50% • dependency on a single integrator
5. Acquisition & Growth
LTV/CAC ≥ 3
CAC < 12 months of LTV
Diversified acquisition channels (SEO, PPC, referrals)
Deal breakers:
Single‑channel dependency • CAC not measured • LTV/CAC < 2
6. Founder & Team
Founder replaceable
Documented processes
Rollover or seller financing possible
Deal breakers:
Founder indispensable • no processes • rollover refusal
7. LBO Fit
Stable, predictable cash flow
DSCR > 1.3
Clear growth levers (pricing, upsell, expansion)
Deal breakers:
Cash‑flow volatility • low visibility • DSCR < 1
Amazon FBA Acquisition Criteria
1. Revenue Stability
Stable or growing revenue over 12–24 months
Low promo dependency
No SKU > 30% of revenue
No extreme seasonality
Deal breakers:
Revenue volatility • promo‑driven sales • 1 SKU > 50%
2. Profitability & Unit Economics
Net margin ≥ 15%
Positive contribution margin
TACOS < 12%
Healthy PPC performance
Deal breakers:
Negative contribution margin • TACOS > 18% • PPC dependency
3. Supply Chain & Operations
Reliable suppliers
Lead times < 45 days
Clean inventory turnover
Return rate < 5–7%
Deal breakers:
Single supplier • stockouts • long lead times • returns > 10%
4. Brand & Product Quality
Reviews ≥ 4.3 on top SKUs
Strong positioning
Required certifications (CE, UL, FCC)
Deal breakers:
Commoditized products • missing certifications • weak reviews
5. Amazon Account Health
Account Health in the green
No IP complaints
No listing suppressions
Chargebacks < 1%
Deal breakers:
Suspensions • warnings • IP issues • chargebacks > 2%
Content / Media Acquisition Criteria
1. Revenue & Traffic Stability
Stable or growing traffic over 12–24 months
Low volatility
No article > 20% of traffic
Deal breakers:
Traffic drop > 20% • 1 article > 40% • extreme seasonality
2. Profitability
Net margin ≥ 60%
Low fixed costs
Strong RPM/CPM stability
Deal breakers:
Margins < 20% • heavy content costs • backlink dependency
3. SEO & Content Quality
Evergreen content
Strong E‑E‑A‑T
Natural backlinks
Clean Search Console
Deal breakers:
AI‑generated content • PBN • toxic backlinks • penalties
4. Operational Structure
Editors + writers in place
Documented workflows
Founder not writing 100% of content
Deal breakers:
Founder‑dependent content • no team • no processes
Deal Structures We Consider
Full acquisition
Majority acquisition with rollover
Seller financing
Earn‑outs tied to realistic KPIs
Deferred closing (FBA / e‑commerce risk mitigation)
What We Avoid
Businesses with unstable cash flow
Heavy founder dependency
Legal or compliance issues
Platform‑dependent businesses with existential risk
Models in structural decline