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Ep 35: How to Utilise Free Cash Flow to Acquire 30+ Companies in 7 years – Trish Higgins [Chenmark Capital]
Buy and Build
Simplifying the Seller Note Structure for Small Business Deals
Introducing a seller note helped ease the process of closing small business deals. It allows for reducing the seller note by the amount of any claim, instead of using escrow. With a seller note structure, cash is held back and can earn interest. Deals are typically paid around four times, with 50% equity and 50% debt. As the company grows and pays off debt, they can take on more leverage for each deal. Overall, their metrics are improving, allowing for more aggressive debt financing.
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