Enterprise Value vs Equity Value: Key Differences, Formula, and Example
Enterprise value vs equity value explained with formulas, the EV-to-equity bridge, and a practical example used in real middle-market M&A transactions.
Why Buyers Discount Valuation in Sell-Side M&A (And How Founders Lose Leverage)
In sell-side M&A, valuation discounts rarely start with negotiation. They form when buyers quietly re-underwrite risk, credibility, and execution behind the scenes. This guide explains how valuation compression actually happens, how uncertainty migrates into deal structure, and what founders can do to defend value before leverage is lost.
Waste & Environmental Services: Regional Roll-Ups and PEGs
Founder-led waste & environmental services are seeing sustained M&A as PEGs pursue regional roll-ups. This guide explains how franchise vs. open markets, route density, landfill/transfer access, contract terms, and regulatory tailwinds shape valuation, structure, and process—plus practical steps to defend normalized EBITDA and create competitive tension across strategics and private equity.
Facilities Management (IFM & Janitorial) M&A: Contracts, Density & Route Economics
Facilities management M&A is driven by contract quality, route density, technician utilization, and SLA performance. This guide explains how IFM and janitorial platforms defend valuation—covering renewal/termination terms, NRR, safety/union markets, and platform vs. add-on dynamics—plus the role of QoE, normalized EBITDA, and the working-capital peg in protecting headline price through diligence.
Private Label M&A & Contract Manufacturing M&A: Capacity, Certifications, Premiums
A founder-focused guide to private label, co-manufacturing, and contract manufacturing M&A, including capacity validation, SQF/HACCP and BRCGS certifications, changeover economics, contract visibility, OTIF performance, chargebacks, normalized EBITDA, working capital, and valuation premiums.
CPG Valuation Methods: How Buyers Use DCF, Comps & Precedents
A buyer-focused guide to CPG valuation methods, including when DCF, trading comps, precedent transactions, revenue multiples, and EBITDA multiples should lead; how buyers reconcile normalized EBITDA; and why enterprise value and equity value are not the same thing.
The Essential Guide to the Buy Side M&A Advisory Process
A practical, step-by-step buy-side M&A playbook—from thesis and proprietary deal flow to diligence, valuation, deal structure, and integration. Learn how to run falsification screens, build lender-grade models, design LOIs (rollover, earnouts, escrow), defend the working-capital peg, and execute a 100-day PMI plan.
PE Roll-Ups in AEC: Seller Guide to Platforms, Add-Ons & Rollover
A seller-focused guide to PE roll-ups in AEC, including platform acquisitions, add-ons, buyer mapping, rollover equity, earnouts, governance, WIP, backlog, working capital, diligence, and post-close integration.
- Editors Picks | Aerospace & Defense | Energy & Renewables | Financial Services | Food & Beverage | Industrial Manufacturing | Logistics & Supply Chain | M&A | Technology & Software
M&A Advisor vs Business Broker vs Investment Bank: Which Should You Hire?
A middle-market seller’s guide to choosing between a business broker, M&A advisor, boutique investment bank, or larger investment bank based on buyer access, deal size, sector fit, diligence preparation, fees, transaction structure, and execution needs.
M&A Advisor Fees: Modified Lehman Formula, Lehman Scale, and Success Fee Structures
A founder-focused guide to M&A advisor fees, including the Modified Lehman formula, original Lehman scale, Double Lehman, Reverse Lehman, retainers, success fees, fee bases, earnouts, rollover equity, working capital, and blended fee math.
