Logan is an M&A advisor helping founders win by raising capital or selling their businesses
The Logan Process
EBITDA
Logan performs aggressive QofE to optimize EBITDA and increase the purchase price.
When Logan joined Project Tampa, the founder had signed an LOI for $15M. Logan drafted a new QofE and negotiated to win a higher valuation of $22M for the founder.
MULTIPLE
Logan runs a world-class auction process among numous buyers, leading to competitive tension and the highest multiple.
Project Trident was initially valued at 8x; but, after a robust, invitation-only, blind auction process, using various stage gates to vet hundreds of carefully targeted and qualified investors, Trident closed at 10x.
Terms
Logan knows all the tricks in the investor playbook and protects founders from predatory terms.
The buyer in Project Me Gusta attempted a last-minute purchase price reduction of $0.5M, disguised as a working capital adjustment. Logan responded with insightful math and eliminated the reduction.
Select Completed Mergers & Acquisitions
LEADERSHIP
Bob Winder
President
Daniel Stark
Principal
Kevin Khona
Principal
Education
Utah State University Leadership Forum
Come learn more about investment banking from Bob Winder, who is…
Dorsey & Whitney LLP Webinar
The dental service organization (DSO) is now well established as an attractive structure both for investors who see growth…
Point by Point Podcast
In this episode of Point by Point, Morgan Ribeiro is joined by Healthcare Industry Team Co-Chair Eric Scalzo and the…
“What Good Looks Like”
Click to see example outputs that optimize EBITDA, MULTIPLE, and TERMS
EBITDA – quality of earnings
A quality of earnings (QofE) study establishes the EBITDA which is the basis of the valuation of the deal. Logan’s CPAs and QofE specialists normalize and optimize adjusted EBITDA adding back one time expenses, seller discretionary expenses, carving out capital expenditures, converting from cash to accrual basis revenue, run-rating new initiatives, etc.
MULTIPLE – Pitch Book
Competitive tension is created by running a robust blind auction process with dozens of investors bidding against each other. This process yields the maximum valuation multiple. It all starts with the pitchbook or Confidential Information Memorandum (CIM).
TERMS – LOI
Letter of Intent (LOI) is the blueprint for the purchase agreement and where the most important economic terms are negotiated.
