6 hours ago
5
Jun 20, 2026
In this episode of the Tech M&A Podcast, we chat with
Luis Landgrave, co-founder of
Algebraix, an edtech and fintech company serving
private schools across Latin America, with a primary focus on
Mexico. Over nearly two decades, Luis helped build Algebraix into a
school management platform with an integrated fintech arm that
processes tuition and payments on behalf of schools — momentum that
ultimately led to a successful sale through Corum after years of
inbound interest from investors and acquirers.
Luis shares how a Corum seminar in Mexico City planted the seed
nearly a decade before he was ready to sell, and how an early deal
that fell through made the second, advisor-led process far
smoother. He offers candid advice on the demands of financial due
diligence, the importance of getting your reporting in order before
going to market, and the emotional discipline required when deal
terms shift mid-negotiation. He also reflects on the realities of
post-exit life — from deferred payments and multi-year earnouts to
the reduced control and renegotiation that can come with a two-year
transition.
Takeaways
- Plant the seed early: A Corum seminar in Mexico City sparked the idea nearly a decade before Luis was ready to sell — selling was always the goal, never a legacy to pass down.
- The turning point can be a business-model shift: Adding payment processing around 2017–2018 accelerated revenue and made the company far more attractive to buyers.
- A first attempt that falls through still teaches you: A 2021 approach from a Brazilian acquirer didn't close, but it made the second, Corum-run process much smoother.
- A competitive process improves terms: Even with just one official offer, having other interested buyers in play tightened the LOI and held due diligence to a 90-day timeline.
- Due diligence is the heavy lift: For founders who are engineers rather than finance experts, producing the reports that PE-background buyers demanded was the most taxing part.
- Get your numbers in order first: The more prepared your reporting and financials, the less pressure and rework once offers start coming in.
- Align with your partner and stay centered: Selling is an emotional rollercoaster as terms move on and off the table — shared objectives keep you steady.
- Plan for the transition: A two-year earnout means deferred payments, reduced control, and even some renegotiation — know what you're signing up for.
Timestamps
00:00 – Introduction: Luis Landgrave and Algebraix
00:44 – An edtech + fintech platform for private schools in Mexico
01:01 – First learning about Corum: a seminar in Mexico City
01:58 – The long gap: staying in touch over nearly a decade
02:29 – The turning point: payment processing and faster revenue growth
03:03 – A 2021 approach from a Brazilian acquirer — and why it didn't close
03:29 – Round two with Corum: a smoother, time-bound 90-day process
04:33 – The hardest part: due diligence and producing reports
05:26 – Buyer-side negotiation: in-house experience and the Corum advisor
06:03 – Inside the buyer: a startup with a search-fund track record
06:41 – Choosing the acquirer: business-model fit, cross-selling, and timing
08:03 – Advice for LatAm founders: partner alignment and preparation
09:32 – Bringing in local M&A and tax counsel in Mexico City
09:58 – Post-exit life: earnouts, reduced control, and what comes next