A legal tech business doing $7mm a year - Acquisitions Anonymous episode 166

Michael Girdley (@Girdley) and Mills Snell (@thegeneralmills) talk about a Legal Technology Provider. What makes this a great teaser? We dig into this deal to find the catch; why are we the lucky buyers? Is there a case for a strategic? Could you aim to build rather than buy it?Company:                 Legal Technology Provider Opportunity ReviewLocation:                   United StatesStated Financials:     2022 Sales  $ 7mm   |   2022 Adjusted EBITDA   $2.4mmAsking Price:          Contact the broker-----Thanks to our sponsors!CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.-----Show Notes:(00:00) - Introduction(00:49) - Our Sponsor is CloudBookKeeping.com(04:23) - Deal & financials: Legal Technology Provider(08:17) - What do we like?(09:37) - If EBITDA is BS earnings, what is adjusted EBITDA?(11:52) - What is the catch with this recurring income?(14:43) - Is there a strategic buyer for this business?(15:09) - What is @girdley’s pain-in-the-a** factor theory?(17:57) - What is the most interesting part of this teaser?(18:24) - What are the dynamics you will face if you want to purchase a business like this? (20:04) - Why does this business still have a bizarre dynamic?(25:14) - Where will you find the best value in today’s market?(26:55) - Send over some Deals!Additional episodes you might enjoy:#165 - Should we buy this airplane ad business?#164 - Annual Report Filing Software#163 - Make $2.3M/yr owning a Flight School#162 - Cleaning up crime scenes for big money!#161 - How to spot red flags in eCommerce listings?Subscribe to  weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking hereDo you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.Do you enjoy our content? Rate our show!Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.For inquiries or suggestions, email us at [email protected]