Selling a Business – Why it Might be Harder than you Think

May 29, 2019

There have been an unprecedented number of M&A transactions reported over the past few years. Inexpensive capital and few alternative investment opportunities

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A Practical Approach to Setting Net Working Capital Targets

May 15, 2019

Net working capital (NWC) adjustments may be one of the most misunderstood elements of a business sale and negotiations over it can often stall or kill a deal. In

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Quality of Earnings – Not all Income is Created Equal

January 23, 2019

If you are acquiring or investing in a business, there are generally always risks associated with the deal.

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Using a Spin-Out to Maximize Shareholder Value

May 4, 2018

What is a Spin-Out? A spin-out is a type of corporate reorganization involving the separation of business assets or operations from the Parent Company (“ParentCo”) to a newly formed inde

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Industry Consolidation – Should You Buy a Business Before You Sell Yours?

April 19, 2018

It’s a common enough scenario – an entrepreneur learns that the buyer of their business has acquired several similar businesses and plans to combine them for a bigger payout down the line. The res

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Net Working Capital in a Transaction Context – Part Two

January 30, 2018

Welcome back! In our last post on net working capital (NWC) in a transaction context, we discus

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Net Working Capital in a Transaction Context – Part One

January 16, 2018

At a recent mergers and acquisitions conference, the audience was polled as to whether they had ever experienced net working capital (NWC) issues in a transaction; a chorus of laughter and groans echo

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The Importance of Lawyers in M&A Transactions

September 19, 2017

We hope that “Dick the Butcher” wasn’t planning to sell his butcher shop when he uttered his immortal line, “The first thing we do, let’s kill all the lawyers” in Shakespeare’s play, Hen

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Current Trends in Mergers and Acquisitions

July 7, 2017

At Smythe Advisory, we are typically engaged to assist our clients in four specific areas. These include: Preparing Valuation Reports – Used for income tax, shareholder

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Earnout Agreements – The Link between the Buyer and Seller

May 15, 2017

Background of an Earnout Agreement Near the end of a transaction, the buyer and seller are usually clo

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