Articles

Over the past several years, behavioral health has become one of the most active sectors in healthcare M&A. I joined American Healthcare Capital in 2019 and have seen the space go from the Wild West to a mature and sustainable industry. Fueled by rising demand, favorable reimbursement dynamics, and increased investor interest, Behavioral Health has […]

For many business owners, the most stressful part of selling a company isn’t finding a buyer—it’s surviving due diligence. This is the phase where deals slow down, valuations change, and transactions sometimes fall apart entirely. Understanding what buyers look for in due diligence is one of the most powerful advantages a seller can have. Buyers […]

When business owners think about valuation, the conversation often begins and ends with financial performance: revenue growth, EBITDA margins, and trailing twelve-month results. While those metrics remain foundational, sophisticated buyers in today’s M&A marketplace increasing weight on qualitative and macroeconomic factors that influence risk, resilience, and scalability. This shift has become especially pronounced in manufacturing […]

When it comes to mergers and acquisitions (M&A), most professionals focus on the tangible aspects: financials, legal contracts, market positioning, and operational logistics. But behind every transaction are human beings, and understanding their personalities can be the difference between a successful deal and one that falls apart. Personality insights aren’t often the headline of M&A […]

When it comes to selling a business, many factors influence the final sale price and the success of the transaction. One critical element that may often determine the attractiveness of a business to potential buyers is the strength and stability of its management team. At Touchstone Advisors, we recognize the pivotal role a competent management […]

There are many situations in business negotiations where a buyer or seller must make the opening offer, even though they might prefer not to. There are effective tactics to employ when one is forced to make the opening offer, and I cover those in some of my other material. But in this article, I’d like […]

Concentration as it relates to selling an established business means that a large percentage of sales, purchases, or some other critical business metrics are concentrated in one or two big customers, industries, products, vendors, or employees. In founder led businesses the most common situation is customer concentration. Business owners frequently look at this as a […]

​“Well,” the owner might sheepishly begin while looking over his shoulder to ensure no one is listening, “this year’s income statement reflected $2.5 million of net profit, but it actually makes much more because we run a lot of expenses through it to reduce earnings and taxes.” How should the appraiser respond? Aghast at the […]

In the context of mergers and acquisitions, being prepared is not just an advantage — it’s essential. Sellers who begin negotiations armed with clarity, confidence, and a thorough understanding of their financial standing are more likely to reach the closing table and have a favorable outcome. However, the road to a successful sale is often […]

In insurance parlance, if you insure a particular exposure, you’re covered. If not, you’re bare. If you’re looking for a policy that covers something that’s never been covered before, you’re… naked. That’s the situation many privately held, small and middle market companies find themselves in when they seek to sell their business. The Buyer asks […]