“We built it to a point that there’s real, solid value … now it’s time for the next chapter.” – Project Neptune Co‑Founder

Project Neptune, a Managed Service Provider (MSP) based in the rapidly growing Northern Nevada market, just closed a sell‑side transaction with the guidance of Revenue Rocket. Below is the story behind the deal—what motivated the founders, how the process unfolded, and the biggest takeaways for MSP owners who might be eyeing their own breakthrough moment.

Quick Stats about Project Neptune

2024 Revenue: $2M

Adjusted EBITDA: $748 K (≈ 37% margin)

Recurring Revenue: 70 %

Headcount: 8 employees

Tech: Infrastructure managed services, cloud, networking & security

Customer Focus: Gaming, healthcare & hospitality

The Inflection Point: When Growth Meets Burnout

For years Project Neptune’s husband‑and‑wife founding team enjoyed steady 30% year‑over‑year growth and enviable profitability. But scaling further required fresh capital, deeper bench strength, and most importantly – more hours than they had to give. Rather than risk plateauing (or burning out), they opted to sell in to a larger platform while rolling a portion of equity forward.

Why it mattered: Staying on with the acquirer lets the founders keep steering the ship while de‑risking personally and gaining the resources needed for the next growth curve.

Choosing the Right Co‑Pilot

Selling an MSP isn’t just about finding a buyer—it’s about orchestrating a competitive process that keeps leverage on your side. Before signing an engagement letter, Project Neptune’s founders spoke with boutique brokers, regional CPA firms, and solo “deal coaches.” Most either lacked deep MSP domain expertise or a recent track record of closed transactions. The founders quickly realized they needed more than a paperwork shuffler; they needed a strategic co-pilot who could refine their story, surface the right buyers, and safeguard value through diligence. That search led them to Revenue Rocket.

Project Neptune’s founder whittled a long-list of roughly 20 advisors down to two, and recalls: “Revenue Rocket just knew the MSP space better than anyone else and came with the full team to handle diligence, marketing, and financial modeling.”

This depth of sector expertise—and a proven record of closed MSP deals—gave the founders confidence that Revenue Rocket could run a genuinely competitive process while they stayed focused on the business.

• Domain expertise. 100% focus on tech‑enabled services & MSP M&A.
• Deep buyer network. Ability to create real competition—not just field inbound calls.
• Full‑stack support. From valuation modeling and CIM creation to deal structuring and diligence defense.

Breaking Down the Go‑to‑Market Process

1. Packaging the story: Revenue Rocket scrubbed the financials, crafted a compelling teaser & CIM, and aligned on the founders’ “number.”
2. Creating the funnel –>
3. Driving competition – Multiple rounds of Q&A and management calls whittled the field to the best strategic, cultural, and financial fit.
4. Structuring the win‑win – The chosen LOI blended a strong cash component with an equity roll and performance earn‑out, maximizing up‑front value and future upside.

Deal Structure at a Glance

What Made Project Neptune Stand Out?

In the podcast, Revenue Rocket CEO Mike Harvath walks through the exercise he and the founders completed to surface—and prove—Neptune’s strongest selling points. Rather than relying on gut‑feel, each differentiator was backed by data the deal team could drop straight into the Confidential Information Memorandum (CIM) and buyer Q&A. Highlights included:

• Clean, audit‑ready financials — Revenue Rocket’s analysts re‑cast the P&L by service line and normalized owner add‑backs, ultimately shaving nearly a week off buyer diligence.
• Predictable recurring revenue (70 % MRR) — Using cohort‑analysis templates, they highlighted <3 % net churn and 38‑month average contract terms, boosting confidence in forward cash flows.
• Regulatory moat — The team coached the founders to lead with their Nevada Gaming license and HIPAA‑compliant processes, expensive and time‑consuming advantages for outsiders to replicate.
• Vertical & technical depth — Revenue Rocket mapped each credential (Cisco Premier, Fortinet NSE4, AWS Select) to pipeline deals, showing how expertise converts into sales velocity and margin.
• Scalable 24/7 delivery — By modeling blended‑labor savings in its synergy calculator, the advisor demonstrated an ~8 % EBITDA uplift for acquirers relying on U.S.‑only support.
• Near‑term growth pipeline — They packaged LOIs and SOWs into a forward‑looking backlog schedule that quantified an extra ~$1 M ARR within 12 months.

Lessons for MSP Owners Considering a Sale

“Don’t take the first offer. Find good advisors, surround yourself with smart people, and listen to them.”  — Project Neptune C0-founder

Know your “next chapter” goal. Selling isn’t quitting; it’s reallocating risk and resources.

Get your house in order first. Accurate, timely financials can add turns to your EBITDA multiple.

Run a process, not a popularity contest. One inbound suitor rarely yields best value—competition does.

Stay focused on the business during diligence. Let your advisor field the noise so revenue doesn’t slip.

Structure matters as much as price. Balance cash, equity, and earn‑out to fit your personal risk profile.

Prepare your team and clients for transition. Communicate to the right people at the right time, outline continuity plans, and mitigate any customer churn risk.

Ready to Explore your Options?

Whether you’re years away or already fielding buyer calls, Revenue Rocket can help you understand valuation, prep the company, and run a competitive process. Schedule a confidential conversation today, or hear the full podcast episode >>