M&A Zing (Ep. 15)– Debt Nightmares, SEIS Wins & The Barbell Economy with Sam Simpson
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Modern polymath Sam Simpson has worn every hat: quantum-physicist-turned-tech-exec, £450m buy-and-build survivor, SEIS-powered start-up founder, angel investor and—most recently—CEO of Founder Catalyst while co-building Forge Technologies. In this candid conversation Sam unpacks:\n\n• The 3Cs framework that still guides every venture he touches.\n• How 2e2’s PE debt stack imploded overnight—and why he now treats leverage like kryptonite.\n• Turning £20k SEIS cheques into >30x exits (and what most founders miss).\n• Surviving COVID’s ‘black-swan’ wipe-out of his events business.\n• Angel vs buy-out returns, the AI imperative & the coming barbell economy.\n• Why optionality, profitability and focus will dominate the 2020s.\n\nPacked with war stories, practical funding tips and hard-won strategy, this is required listening for acquisition entrepreneurs, search-funders and hold-co builders across the UK & Europe.
In this episode he breaks down:
Why an 18 % loan-note stack killed 2e2 overnight, and how that shaped his “no-debt” rule
Turning a £20 k SEIS cheque into a 30×, tax-free exit (and what most founders miss)
Growth-at-all-costs is dead; profitability, AI-driven efficiency & the “barbell economy” are in
Angel vs buy-out returns, optionality, focus, and building Forge Technologies without bank debt
⏱️ TIMESTAMPS
0:00 Intro & welcome
1:12 The 3 Cs – Customer, Colleague, Commercial
5:32 2e2 collapse & debt lessons learned
10:18 COVID wipes out an events venture
15:04 Rock Technologies – SEIS to £100 m exit
23:18 Founder Catalyst – powering funding rounds
27:30 Forge Technologies – buy-and-build, no leverage
34:00 Angel vs buy-out returns (+ SEIS/EMI tips)
38:12 AI, profitability & the barbell economy
44:40 Personal milestones, focus & future plans
46:50 Key take-aways & wrap-up
🔗 RESOURCES MENTIONED
• Founder Catalyst – SEIS/EIS & EMI platform → https://foundercatalyst.co.uk
• Forge Technologies → https://forgetech.co.uk
• SEIS & EMI Guides (UK Gov) → https://gov.uk
• BGF (Business Growth Fund) → https://bgf.co.uk
*About M&A Zing*
Host: Gareth Hawkins – CEO & Co-Founder, BizCrunch (exited founder & M&A investor). Each week we dive into real-world SMB M&A across the UK & Europe.
*Join the BizCrunch Community*
Early-access episodes, live Q&A and networking for acquisition entrepreneurs & investors. Sign up → https://www.bizcrunch.co/community
Featured News
• Microsoft chooses a boutique London venue for Satya Nadella’s EU product launch – the inside story of an events business wiped out by COVID
• BGF doubles down on UK tech after its nine-figure exit from Rock Technologies
• UK Startup Loans: £25 k per founder at 6 % – why Sam Simpson still says “no PG debt”
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