The valuation arbitrage is basically that small EBITDA businesses, like let's say you're doing a million or two million, they'll sell for seven X. But if you had 20 million of E BITDA in a business, it'll get acquired by a larger institution. It's an easier buy button to buy 20 million a year of EBTDA for 15 X. And so all you have to do is kind of like accumulate, roll up and put this together to get to that next stage of buyer.

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