M&A Insights & News

Article

Gross to Net: Where Did the Rest of the Money Go?

Funded debt, debt-like items, advisory fees, and transaction bonuses come out first. How a $20 million purchase price becomes $17 million pre-tax. Read More

consultants discussing the need for cash in selling a business

Article

Gross to Net: Do I Have to Leave Cash in the Business?

A $3 million net working capital target does not mean leaving $3 million in the bank. Nine misconceptions sellers have about working capital in M&A. Read More

consultants discussing the offers they received for their clients pricing

Article

Gross to Net: Not All Purchase Price Is Created Equal

Cash, earnouts, seller notes, escrows, and rollover equity are not interchangeable. What each form of purchase price is actually worth to a seller. Read More

consultants discussing their different seller plans

Article

Gross to Net: Why Similar Offers Can Produce Very Different Seller Proceeds

Three buyers value the same company at about $20 million. See why enterprise value, debt, and working capital leave very different seller proceeds. Read More

TTM Word on Wooden Cubes with Chart and Keyboard

Article

Why Buyers Focus on the Trailing Twelve Months, Not the Last Three Years

A declining TTM can disqualify buyers, reduce financing, and reprice a deal even when historical performance is strong. Here's what sellers need to know. Read More

M&A Advisors Working on Their Laptop with HUD Hologram

Article

The Impact of a Strong M&A Advisor

Finding buyers and closing deals is the surface description. Learn what a strong sell-side M&A advisor actually produces at each stage of the process. Read More

Buyers Discussing Business Strategy in a Meeting

Article

The Difference Between Strategic and Private Equity Buyers

PE buyers offer a potential second payout. Strategic buyers offer a cleaner exit. Here's how middle-market sellers compare the two before signing. Read More

Businessman Reviewing Earning Data Graphs of Business

Article

How to Get Ahead of the Quality of Earnings Review Before Buyers Do

The buyer's QoE team starts work after you've stopped marketing and other buyers have stood down. Find out what they examine and why a sell-side QoE protects your proceeds before exclusivity begins. Read More

Seller Team Reviewing Middle-Market Business Valuation Data in Meeting

Article

How Middle-Market Businesses Are Valued in M&A Auctions

The gap between an owner's valuation estimate and a buyer's offer is one of the most consequential dynamics in middle-market M&A. Find out what creates it and how to close it before going to market. Read More