Weekly deal evaluations, CIM screening frameworks, and acquisition strategy. Written for search fund entrepreneurs and independent sponsors evaluating small business acquisitions.
Subscribe on SubstackA forty-five-year-old Northern California environmental services company with a diversified five-division service model. At $10M revenue and $650K EBITDA, the financial structure presents meaningful valuation concerns — but the underlying business may be more interesting than the asking price suggests.
Read on SubstackAsking 4.5x SDE on a 45-year-old environmental services company with five operating divisions. The headline multiple looks fair — until you examine the EBITDA adjustments.
Read articleMost buyers screen deals the same way — and it doesn't work. An analysis of recurring patterns in M&A evaluations and the structured approach we're building to fix it.
Read articleDeep analysis across the areas that matter most when evaluating acquisition targets.
Weekly teardowns of real listings — financials, red flags, valuation opinions, and negotiation angles on active deals.
Structured approaches to CIM evaluation, scoring methodologies, and systematic deal filtering to surface the best opportunities.
Market dynamics, competitive landscapes, and sector-specific considerations for business services, manufacturing, and more.
Search fund formation, deal sourcing tactics, broker relationships, and the operational playbook for acquiring a first business.
SBA 7(a) loan eligibility, deal structuring, seller financing, and creative financing strategies for sub-$10M acquisitions.
M&A market trends, valuation multiples by sector, deal flow patterns, and macroeconomic factors affecting small business acquisitions.