Launch. Scale. Exit: What Buyers Really Want with Sanjeev Khaira, Chief Growth Officer, Montgomery Group

As Chief Growth Officer at Montgomery Group, Sanjeev Khaira sits at the centre of the company's acquisition strategy – deciding which events are worth pursuing, what a fair deal looks like, and how to work with founders once the ink is dry.

 We asked Sanjeev what makes an event stand out to a buyer, why the first few editions matter more than people think, and the advice he'd give any founder building toward a future exit.

What attracts you to a purchase? What does a potential acquisition need to have to stand out against its competitors?

Ultimately, it comes down to growth potential and our ability to add value to a business or product. Ideally, we're looking for a market-leading product in an early-stage, fast-growth sector – something with genuine potential to reach scale. That's not always possible, so in practice it's a balancing act between those factors.

The team behind the event matters just as much, particularly where they bring a new skill set into the business that we don't already have.

What's the minimum number of editions you look for?

There's no hard and fast rule, but typically we'd want to see three-plus editions of trading. A portfolio might include new launches alongside more established events, but the flagship needs a track record before we'll commit.

What is the ideal size to acquire an event at, and what is the minimum size you'd consider buying?

There isn't really an ideal size. As an independent business, our targets are likely to sit below £10m in enterprise value. On the minimum side, we'd want to see that an event, or portfolio, already generates – or clearly has the scope to generate – £5m-plus in revenue at an attractive margin.

How important is the dynamic with the founder in the acquisition process, in terms of both chemistry and market knowledge?

At the scale we buy at, the relationship with the founder is crucial. Get it wrong and you can destroy value very quickly. I think the key to getting it right is always being open and direct with each other from the start.

How important is it to you that a founder stays with an event once acquired?

We'd always look for some kind of handover – that could be anything from a year to a longer-term arrangement. What matters most is making sure everyone's objectives are aligned, so the transition works for the founder and for us.

How important is management structure when looking to acquire an event?

Structure is less important than the quality of the management itself. Structures can always evolve over time, but good people are much harder to develop. We'd rather back strong individuals in an imperfect structure than inherit a tidy org chart with the wrong people in it.

Companies like Manta Media are increasingly offering support to event founders from inception to exit. How does that benefit you as a buyer?

Firms like Manta Media understand what buyers are looking for, which means they can help a founder find a quicker path to a successful outcome. That's valuable on both sides of the table – founders arrive better prepared, and we spend less time on issues that could have been sorted out earlier.

What advice would you give to a founder building an event today with a future sale in mind?

Focus on what really makes your business stand out to customers. Worry less about revenue and profit in the short term and put your energy into delivering ROI to both your buyer and seller communities. Get that right, and the rest tends to follow.