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1 19 positive responses to 74 cold calls (some personal contacts used to gain access). Of the 19 initial positive responses, 10 signed Confidentiality Agreements, 5 of these participated in structured conference calls with the sellers and all 5 wished to enter into formal due diligence (we selected only 3 candidates to come for an onsite visit). “Initial interest” defined as an interested response to a voicemail, phone call, mailing or email – a chance to give more information about the company for sale in order to decide on strategic fit.