How to Structure a Business Acquisition (M&A Deal Mechanics) | Acquisitions & Asphalt

Retail buyers fight to the death over the multiple. Institutional buyers obsess over the deal structure.In episode 3 of the Acquisitions & Asphalt series, Sam Silverman and Chris Wirthlin explain why the price you pay for a company matters far less than the terms you dictate. They break down the five structural levers that actually determine if an M&A deal survives its first year, and share the exact capital stacks behind their latest multi-million dollar acquisitions.They cover:Why buying a business based only on the EBITDA multiple is a trapThe 5 critical levers of M&A: Debt, Earn-outs, Seller Carries, Investor Capital, and Working CapitalThe reality of SBA loans vs. Regional Banks, and why credit agreements matterWhy they avoid earn-outs in blue-collar businesses (and what they use instead)The "Working Capital Trap" that secretly raises your purchase price after closingHow a seller tried to pass off broken, painted equipment as operational assetsReal deal breakdowns: The exact math and leverage used to fund their Texas and new $12M acquisitionsQ&A: How to negotiate a 0% interest seller note, deal sizing, and off-market sourcingThis is a weekly series. New episodes every Tuesday.Learn more about Silverman Capital: https://silvermancapital.co