BLUE COLLAR CFOsBoots before spreadsheetsThe October 1 SBA quality-of-earnings rule and what it does to your acquisition
Independent QoE is now mandatory on larger SBA-financed acquisitions. Here is what the rule actually says, who it hits, and why we structure around SBA anyway.
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Insights
How these deals actually work.
No thought leadership. Analysis we use on live transactions, written down.
How to tell a real add-back from a fabricated one
We reviewed a target whose adjusted EBITDA was 83% adjustments. Here is the test we run on every add-back before it touches a valuation.
Read it »Buying a trucking company: the eleven things that actually kill the deal
Fleet age, factoring, loss runs, driver churn, authority. The diligence list we work through before anyone talks about a multiple.
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