Here are the key takeaways from the Wednesday’s Episode - 16 April 2025

Willem Westra, founder of WW Capital Group, has sent over 1,000,000 emails to source deals for more than 100 financial firms and SMBs. His outreach system has directly facilitated more than $355M in closed deals.

Most investors believe you need a strong network to find great acquisition opportunities. Willem disagrees.

"Not only would I say cold email still works for this, but it works better," he explains.

Cold email lets you target every company that fits your criteria, not just those in your network. Here's Willem's 3-step process:

1. Build Your Target List

Start by defining exactly who you want to target.

a. Key Criteria to Include

• Revenue level/Company size

• Industry focus

• Employee count

b. Look for Intent Signals

• Founders who've been at the company 30+ years (likely thinking about retirement)

• Tech companies without outside funding that have reached a growth ceiling

c. Look for Intent Signals

• Linkeding for basic filtering

• Pitchbook.com 

• Ocean.io for finding similar companies

• Crunchbase.com for tech company funding status

• Millionverifier.com for verifying email addresses

2. Craft High-Converting Emails

a. Subject lines should be direct

• “Acquisition Inquiry”

• “Interest in acquiring {company name}”

b. Each email should include

• Personalization: Personalized opening mentioning the company's achievements

• Why?: Why you believe it's a good acquisition fit

• Track-Record: Brief mention of your track record

• CTA: Clear call to action asking for a call

• If you lack acquisition experience:

  • Get industry experts on your board

  • Leverage your existing business sucess

  • Focus on strategic benefits you offer

c. Follow up sequence

• First email: Request a call

• Second email (3 days later): Offer more information

• Third email (7 days later): Share industry insights

• Restart quarterly with fresh messaging

d. Email Templates examples based on Willem’s Framework

• First Outreach Email:

  • Subject: Interest in acquiring [Company Name]
    

    Hi [First Name],
    
    Your status as [specific achievement] caught my attention as I'm actively looking to acquire businesses in the [industry] space.
    
    Our investment group is particularly interested in companies excelling in [specific capability of their business], which aligns perfectly with [Company Name]'s proven track record.
    
    With our experience in [relevant experience/background], we believe we could bring additional resources to help [Company Name] reach its next growth phase while preserving what makes it successful.
    
    I would welcome discussing this opportunity on a call this week. Are you available on Tuesday or Thursday afternoon?
    
    Best regards,
    [Your Name]
    [Company Name]

    [Address]
    

• Follow up Email (3 days later):

  • Hi [First Name],
    
    I wanted to follow up on my previous message about a potential acquisition of [Company Name].
    
    Having researched your [specific product/service/approach], I'm increasingly confident there could be significant synergies with our existing operations in [relevant area].
    
    Mind if I share some more information about our group and this possible acquisition opportunity? Thanks for considering,
    
    Best regards,
    [Your Name]
    [Company Name]

    [Address]
    

• Final Follow-up Email (7 days later):

  • Hi [First Name],
    
    I've been following [Company Name]'s progress and wanted to reach out one last time.
    
    We've been tracking valuation trends in the [industry] space, and companies with your profile are currently seeing strong interest from strategic buyers.
    
    I would welcome sharing some industry valuations that we're seeing in the markets that could be helpful to your company, even if you're not considering a sale at this time.
    
    Best regards,
    [Your Name]
    [Company Name]

    [Address]

3. Implementation

Technical tips

• Send less than 15 emails per day per inbox

• Run your emails through a spam checker tool

• Avoid links in initial emails

Response management

• For interested prospects: Schedule a call ASAP, then follow a clear process

• For "maybe later": Follow up quarterly with market insights

• For ghosted conversations: Maximum 1-2 follow-ups, then move on

The numbers:

• Expect 1 phone call per 100 emails sent

• Target 15-30% reply rates

• Send 1,000 emails to validate your approach (Proof of Concept)

• Budget $250-500/month for automation tools

Thank you for reading Behind The Acquisition.