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Podcasts/Acquiring Minds
Acquiring MindsApril 22, 2024

The Double Life of Owning a Business 2.5 Hours Away

with John Murphy · Dave Cole Decorators

Listen to Episode →

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

The Deal

Business
Dave Cole Decorators
Industry
commercial painting company
State
MI
Purchase Price
$3.5M
Multiple (SDE)
3.5x
Year
2023
Deal Source
bizbuysell

Financing Structure

$2.8M
SBA 7(a)
$2.8M (80%)
Seller Note
$350K (10%)
Rolled Equity
$175K (5%)
Buyer Equity
$175K (5%)

Strategic Rationale

Buyer sought to graduate from real estate to a higher cash-flowing asset with a strong 60-year history.

Post-Acquisition Performance

Generating approx. $8M revenue; navigating seasonal cash flow tightness; implemented management systems (EOS).

The LenderHawk View

Real lenders that finance similar deals

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10
Median Spread
P + 1.75%
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The Huntington National Bank56 deals
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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