Two companies each earn $2 million of EBITDA, and one sells for $8 million while the other sells for $14 million. Using Q2 2026 data from TagniFi, GF Data, PitchBook, and SRS Acquiom, Ed Weeks Jr. explains what sets a private company’s multiple, why the headline price differs from cash at closing, and what owners can do about it this quarter.
Most owners start thinking about a sale with a number. A friend sold for a certain multiple. A broker mentioned a range. A buyer called and floated a figure over lunch.
Hire the intermediary after you know a transaction should happen, and after you know what kind of process the company can support. The label on the helper is the third question. Owners often start there because someone asked them to sign a listing agreement, or because a friend used a broker, or because a banker […]
The first question is which outcome you want. A listing, a valuation, and a buyer conversation come after that, and only if a sale is actually the outcome. Keep, grow, finance, partner, and sell sit on the same shelf. One of them is a transaction. The other four are ways to stay the owner, or […]
Ask a business owner if the company is for sale and you will often get a quick answer. “No.” Fair enough. Now change the question. What if the right buyer showed up? What if they understood the business, valued what you built, had the capital to close, wanted to keep your people, and offered a […]
The SBA acquisition rules are changing. If you are buying or selling a business with SBA-backed financing, October 1, 2026 belongs on your calendar. The U.S. Small Business Administration has published SOP 50 10 8.1, the next version of the operating rules for 7(a) and 504 lenders. The new SOP takes effect October 1, 2026, […]
39 of 77 HVAC deals this year went to private equity HVAC M&A in 2026 is running hot, and here’s a number I can’t shake. Private equity took 39 of the last 77 HVAC deals tracked this year. More than half. The sector’s already at 149 transactions, up almost 13% over last year. If you […]
I got on a call with a founder who turned his single biggest fear, selling to private equity, into his business model. He started a managed services provider in 2010. Grew it to about 75 people and $12 million a year. He is not a finance guy. He is an operator who got tired of […]
The Business Only You Can Run Is Worth Less Than You Think An owner-dependent business is one of the biggest reasons business owners leave money on the table when they sell. A few months ago I got on the phone with the owner of a residential HVAC company here in the Hudson Valley. Good business. […]
Every dollar you pull out in cash is a dollar that quietly lowers your exit price. “I put thirty, forty grand a month in my pocket. Cash.” An owner told me that recently like it was a selling point. I get why he thinks it is. To him, that cash is proof the business prints […]
