Field notes from the floor

Insights

Real situations from Ontario manufacturing plants — operational turnaround, lean discipline, cultural realignment, succession, and the operations diligence gap that keeps killing M&A valuations. No frameworks. No fluff. Written by Nash Krishnan.

May 6, 2026 · M&A & Succession · 6 min read

EBITDA was clean. The deal still didn't close.

The financials were fine. The operation wasn't transferable. Five things the buyer's ops team saw on the floor that the owner couldn't — and why this gap is killing Ontario manufacturing valuations right now. With the SMED math, the OTD numbers, and the day-91 risk that quietly unwound the deal.

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May 5, 2026 · Approach · 3 min read

What walks in with me.

Most consultants hand you a report. I move in. The five disciplines I work on every engagement — and why the waste owners can see is rarely the waste killing the business.

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