Navigating Private Equity Dynamics

Sindre Talleraas Holen, Head of M&A at Visma

In Part 2 of this global M&A masterclass, Sindre Holen pulls back the curtain on Visma’s deal execution strategy, valuation methodology, and post-close philosophy. Visma has quietly become one of the most disciplined and prolific acquirers in Europe and LATAM. How? Through extreme clarity on what they buy, why they buy it, and how they operate post-close.

Sindre and Kison dig into the nuance of buying software companies in different geographies, how Visma thinks about valuation (hint: rule of 40—and sometimes 50—matters), and why the company chooses to “onboard” rather than “integrate.” This episode is a candid, behind-the-scenes look at how to structure deals, manage cultural differences, and stay true to a scalable M&A playbook.

Things you will learn:

• How Visma sets valuation ranges across different growth brackets and geographies

• Rule of 40 vs. Rule of 50 and how it impacts multiples

• Why Visma prefers local advisors over centralized consultants in new markets

• Inside Visma’s onboarding vs. integration philosophy

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Only two weeks left to register! This half-day event brings together corporate development leaders and M&A experts to explore Buyer-Led M&A™, showing how you can take control of every stage of the deal. Register Now: DealRoom.net/Summit

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If you’re bouncing between Excel trackers, email threads, shared drives, and separate VDR, you’re not alone-but you are wasting time. Join us for 20 minutes of practical ways to save hours, stay on track, and move deals forward faster. Join us live and see the difference. Register Now

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[00:00:00] – Recap and Starting Part 2: Risk Awareness in Global M&A

[00:01:30] – Analysis Paralysis: Knowing When to Say Yes or No

[00:04:30] – Visma’s Scalable Diligence Function & Internal Capabilities

[00:06:00] – Tapping Freelancers, Ex-Corp Dev Talent for First-Time Deals

[00:07:30] – The Strategic Spectrum: PE Mindset vs. Strategic Buyer

[00:09:00] – Visma’s “Onboarding,” Not “Integration” Philosophy

[00:11:00] – Building Long-Term Founder Relationships Post-Close

[00:13:00] – Standardization: Reporting, Tech, and Cybersecurity Rigor

[00:14:30] – The Rule of 40... or 50? And Why It Matters

[00:20:00] – Earnouts: Bridging Price Expectations Through Growth

[00:28:30] – Closing Over 90% of LOIs: Visma’s High Deal Certainty

[00:30:00] – What to Do Before Entering a New Geography

[00:33:30] – Leveraging Local Advisors, Bankers & Cultural Guides

[00:39:30] – Visma’s Expansion Into Latin America via Accidental Entry

[00:41:00] – Why LATAM is Surprisingly Ahead in SaaS & Regulation

[00:43:00] – The Role of Humility and Trust in Global Expansion

[00:46:30] – Trends in SaaS M&A: Consolidators, Rollups & Capital Influx

[00:49:00] – Craziest M&A Deal Toy: A Stuffed Eagle