Episode 110: Inside the Deal with Steve ...

In this episode of the Tech M&A Podcast, we sit down with Steve Wargalla, Managing Director of QSTRAT, a supply chain software company that provides quoting and sourcing solutions for manufacturing and distribution businesses. After acquiring QSTRAT in 2016 with a clear five-year exit strategy, Steve spent nearly eight years growing the company before successfully selling it through Corum.

Steve reflects on how attending one of Corum's educational seminars first introduced him to the firm, why having a structured M&A process made all the difference compared to his previous company sale, and the lessons he learned from planning an exit years in advance. He also shares practical advice for founders preparing to sell, emphasizing the importance of education, surrounding yourself with experienced advisors, and recognizing that building a successful company requires a very different skill set than selling one. Finally, Steve discusses life after the exit, from embracing new personal challenges to rediscovering interests outside of business.

Takeaways

• Plan your exit from the beginning: Steve acquired QSTRAT in 2016 with a long-term goal of selling the company, ultimately achieving that exit after nearly eight years.
• Education opens the door: Attending Corum's AI and M&A seminars provided valuable insight into the acquisition process long before the transaction began.
• Experience changes everything: Having previously sold a business, Steve saw firsthand how a structured, advisor-led process produced a far stronger outcome than navigating a sale alone.
• Structure builds confidence: Corum's disciplined, repeatable approach gave Steve confidence throughout the transaction and kept the process organized from start to finish.
• Founders shouldn't go it alone: Most software CEOs are experts at building companies—not selling them. Steve stresses the importance of learning the process and hiring experienced M&A advisors.
• The right team creates better outcomes: Drawing on the expertise of dozens of experienced dealmakers helped strengthen the company's positioning and presentation to buyers.
• Life after the sale brings new opportunities: With his consulting agreement ending, Steve looks forward to exploring new interests, spending more time on hobbies, and discovering what comes next beyond business.
  
  

  Timestamps

  00:00 – Introduction: Steve Wargalla and QSTRAT

  00:45 – QSTRAT: supply chain software for manufacturers and distributors

  01:00 – Discovering Corum through AI and M&A seminars

  01:28 – Planning an exit: the original five-year strategy

  01:59 – Life after selling the business

  02:29 – Comparing a first company sale with the Corum process

  03:04 – Why Corum's structured approach stood out

  03:42 – Advice for software CEOs preparing to sell

  04:21 – Looking ahead after the consulting agreement

  04:45 – Final thoughts on Corum's deal team and the value of experienced advisors