In a recent LinkedIn post, Nick Bradley examines the true drivers of business value, using the $17 billion sale of a KKR-owned company as a case study. Bradley emphasizes that the headline-grabbing sale price is less significant than the nine-year journey of strategic growth and operational enhancement that preceded it.
He highlights the substantial increase in the business’s valuation, noting that it was acquired for $4.3 billion in 2017 and sold for $17 billion. However, Bradley steers the focus away from the multiples to the underlying operational improvements.
“Under KKR’s ownership, USI nearly tripled its revenue. Adjusted revenue compounded at around 12% a year. Adjusted EBITDA grew slightly faster, at around 13%.”
Bradley elaborates on the strategic approach taken during KKR’s ownership, which involved more than just a single transformative deal. Instead, the focus was on a series of consistent, strategic acquisitions designed to expand the company’s scale, geographical footprint, and capabilities.
The Engine of Growth: Strategy and Execution
According to Nick Bradley, the success of the business was built on a foundation of consistent, unglamorous, yet highly effective business practices. He breaks down the core elements of this value creation:
- Consistent revenue growth
- Improving operating leverage
- Strategic and well-executed acquisitions
- Investment in people and workforce expansion
- Development of proprietary technology, data, and AI
Bradley points out that these elements are not flashy but are the fundamental components of building a durable and defensible business.
“None of that is particularly glamorous. But this is what value creation actually looks like.”
He further argues that these investments create a company that is increasingly difficult for competitors to replicate, a key factor in commanding a premium valuation.
The Role of Leadership and Platform in Exit Strategy
Beyond the operational improvements, Bradley also touches upon the importance of leadership continuity and the inherent value of the business platform itself. He notes the detail that the CEO, Mike Sicard, is not leaving after the acquisition but will assume a new role within the acquiring company, Aon.
“The buyer didn’t just want the earnings. It wanted the platform and the people who knew how to produce them.”
This, in Bradley’s view, underscores a crucial point for founders considering an exit: a business’s true value lies not just in its current profitability but in its established operational engine and the people capable of sustaining and growing that engine. He posits that great businesses are valuable because they have built a system that can continue to generate and compound profits independently of its original creator.
Nick Bradley concludes by challenging business leaders to consider the long-term perspective. He prompts reflection with a thought-provoking question:
“If you knew you couldn’t sell your business for another nine years, what would you start changing on Monday morning?”
This question encourages a focus on sustainable value creation and building an enduring enterprise, rather than solely optimizing for a short-term exit.
📝 About This Content
This article is based on insights shared by Nick Bradley on LinkedIn.
📅 Originally posted on September 1, 2026 | View original post on LinkedIn →