Cultural Fit Over EBITDA: How Salas O'Brien Built a 30-Merger Program Without a Single Failure

M&A Science · Mar 12, 2026 · 1h 1m

Nathan Rust, Senior VP of Corporate Development, Salas O'Brien

More than 30 mergers in three years. A 100 percent success rate. And a first diligence list that's just 10 questions long.

Nathan Rust runs corporate development at Salas O'Brien with a team of three. They look at more than 200 opportunities a year, and fewer than a third get past the first call. That screen happens before anyone talks price. It checks three things: will the leaders stay for the long term, do they love the work, and would you go to dinner with them and their spouse?

Nathan also explains why he gives every…