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Podcasts/Acquiring Minds
Acquiring MindsNovember 27, 2024

Micro-Acquiring to $300k SDE on 5 Hours Per Week

with Link Moser · Windhill Design

Listen to Episode →

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

The Deal

Business
Windhill Design
Industry
web hosting and design services
State
NH
Year
2017
Revenue at Purchase
$413K
SDE at Purchase
$226K
Deal Source
broker

Financing Structure

Buyer Equity
$4K
Buyer Equity
$60K
Earnout
Earnout

Strategic Rationale

To acquire high-margin recurring revenue from retiring sellers to double existing base.

Post-Acquisition Performance

Built portfolio yielding $300,000 SDE by 2025; successfully consolidated multiple small firms.

The LenderHawk View

Real lenders that finance similar deals

Active Lenders
10
Median Spread
P + 2.00%
Top Lenders
TD Bank, National Association34 deals
Eastern Bank33 deals
Citizens Bank, National Association13 deals
Manufacturers and Traders Trust Company12 deals
Bank of New Hampshire9 deals
See all matching lenders →

Key Takeaways

  • 1Seller motivation is paramount; competing against zero makes terms easier to negotiate
  • 2Project-based revenue is significantly less reliable than recurring hosting revenue and should be valued more conservatively in acquisitions
  • 3Customer attrition averages around 10% upon ownership transition; ensure seller participation in handoff to mitigate risk
  • 4Earnout structures tied to gross revenue collected are more transparent than net-based earnouts and easier to enforce
  • 5Breaking down purchase price between recurring and project revenue with different multiples and earnout percentages reflects true business economics

Want the Full Story?

The full narrative — the personal details, the hard moments, the host conversation — only lives in the original. Go listen.

Listen on Acquiring Minds