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Podcasts/Acquiring Minds
Acquiring Minds✓ Verified in SBA records

How To Buy A 800k Clinical Trials Firm Grow It To 3m

with Scott Whitt · Triad Clinical Trials

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

The Deal

Business
Triad Clinical Trials
Industry
Clinical Research Organization / Clinical Trials
State
NC
Purchase Price
$2.0M
Multiple (REVENUE)
2.4x
Year
2016
Financing
SBA 7a
Revenue at Purchase
$850K
Deal Source
bizbuysell

Financing Structure

Buyer Equity
Rolled Equity
SBA 7(a)

Strategic Rationale

Acquired an amateurly-operated but profitable clinical trials business with strong brand and predictable demand, where management consulting expertise could professionalize operations and scale the enterprise.

Post-Acquisition Performance

Grew revenue from $850K to $3M in six years through staff professionalization, implementation of systems and infrastructure, full-time patient recruitment, selective high-value client negotiation, and achieving top-enrolling site status on multiple studies nationally.

The LenderHawk View

Real lenders that finance similar deals

Active Lenders
10
Median Spread
P + 2.25%
Top Lenders
Live Oak Banking Company20 deals
First National Bank of Pennsylvania3 deals
Wells Fargo Bank National Association3 deals
Citizens Bank, National Association2 deals
Readycap Lending, LLC1 deals
See all matching lenders →

Key Takeaways

  • 1Prioritize margin of safety in acquisition pricing to absorb operational challenges and allow time to implement improvements
  • 2Thoroughly verify backlog versus pipeline in cash-basis service businesses, as collection cycles and incomplete data can dramatically misrepresent revenue stability
  • 3Invest heavily in hiring experienced, mission-aligned staff over attempting to manage and remediate work from low-cost, inexperienced employees
  • 4Establish strong positioning and credibility with clients through demonstrated results and selective negotiation of high-value contracts rather than pursuing all opportunities
  • 5Moving quickly on deal execution with pre-vetted financing may justify slightly overpaying to secure the acquisition against competing bidders

Matched SBA Loan Records

SBA loan filings we matched to this deal

First Horizon Bank95%
$25KP + 2.75%FY2012
First Horizon Bank95%
$128KP + 2.75%FY2012
Truist Bank95%
$25KP + 6.50%FY2011