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Podcasts/Acquiring Minds
Acquiring Minds

How To Buy A 5m Business Hire An Operator To Run It

with Matthew Saskin · East Coast Towing

LenderHawk analysis. Not affiliated with or endorsed by Acquiring Minds.

The Deal

Business
East Coast Towing
Industry
Towing and recovery services
State
NC
Purchase Price
$4.1M
Multiple (REVENUE)
5.1x
Year
2023
Financing
SBA 7a
Revenue at Purchase
$5.0M
SDE at Purchase
$800K
Deal Source
bizbuysell

Financing Structure

SBA 7(a)

Strategic Rationale

Acquired a foundationally sound business in a non-cyclical industry with minimal competition at its scale, offering significant runway for professionalization and organic growth through modern sales and marketing practices.

Post-Acquisition Performance

Three and a half months post-close, the business has added 140+ Google reviews, grown from 380 to 520+ reviews with improved star rating, hired multiple new drivers including one who obtained his CDL, implemented cultural improvements, and generated incremental cash call volume through improved web presence and SEO.

The LenderHawk View

Real lenders that finance similar deals

Active Lenders
10
Median Spread
P + 2.50%
Top Lenders
Live Oak Banking Company5 deals
First National Bank of Pennsylvania3 deals
Byline Bank2 deals
Truist Bank2 deals
Readycap Lending, LLC2 deals
See all matching lenders →

Key Takeaways

  • 1Securing an experienced operator aligned with your vision from day one is feasible if you search deliberately through platforms like SearchFunder and network within the SMB ecosystem.
  • 2Blue-collar businesses benefit from leadership that understands the workforce culture and can build credibility through visible presence and genuine employee engagement rather than just technical knowledge.
  • 3Highly fragmented industries with minimal professionalization offer substantial improvement opportunities in marketing, hiring practices, customer management systems, and employee retention without requiring proprietary innovation.
  • 4Phantom equity agreements are an effective way to align operator incentives for long-term growth while managing legal and tax complexity compared to true equity grants.

Matched SBA Loan Records

SBA loan filings we matched to this deal

Manufacturers and Traders Trust Company85%
$1.4MP + 2.00%FY2024
Manufacturers and Traders Trust Company85%
$100KP + 3.00%FY2024