Buying Carve-outs for Future Exits
Carve-outs are some of the most challenging transactions in M&A.
What you’ll learn
Who is this course for
This course is for corporate development professionals, independent acquirers, and first-time buyers who want to understand what it actually takes to source and close a carve-out without institutional backing. If you are considering buying a subscale division from a large company- or you are on the corporate side trying to understand how smaller buyers think and move- Covey and Davidge walk through the full lifecycle from sourcing and seller financing to diligence, employee transitions, and exit, with specific examples from deals they closed at NBC.
Instructor
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Joe Covey is a serial CEO, acquirer, and investor who has been buying and operating businesses since 1992, completing six acquisitions alongside partner Matthew Davidge using personal capital and no outside investors. Matthew Davidge is co-owner of WVNC, an NBC affiliate in Watertown, New York, and several other stations, who spent years in senior roles at MTV, EMI, and Rainbow Media before partnering with Covey to acquire subscale corporate carve-outs and run them as principals.
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Have any questions?
The Intelligence Hub is where M&A practitioners access Buyer-Led M&A™ playbooks, frameworks, templates, and real-world insights from experienced deal leaders. Courses are taught by practitioners who've run deals — not academics or advisors. Topics include integration planning, due diligence, deal sourcing, valuation, and more.
The Intelligence Hub is available 24/7 through your M&A Science membership. Access them on-demand at your pace, on any device.
It depends on where you are in your M&A journey. If you're building foundational knowledge, start with the M&A Fundamentals Track — five courses covering the full deal lifecycle from sourcing through integration. If you're already running deals and want to build a repeatable, scalable process, explore the Buyer-Led M&A™ Certification. New courses are added regularly as we deepen the curriculum.
