Search Fund

The Importance of Working Capital Analysis in Search Fund Transactions

Articles, Featured Events, Jim DeLeo, News, News & Events, Search Fund / By

By James A. DeLeo, MBA, CPA/MSTGray, Gray & Gray, LLP When working in the entrepreneurship through acquisition (ETA) space, search fund investors and operators face countless critical decisions during the deal process. Among these, understanding and accurately analyzing working capital stands as one of the most consequential, yet frequently misunderstood, aspects of a successful transaction. […]

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Revenue Recognition Policies and Their Impact on ETA Valuation

Articles, Featured Events, News, News & Events, Rich Frizzell, Search Fund / By

By Richard Frizzell, CPA, MSA Gray, Gray & Gray, LLP Revenue recognition, while a seemingly technical accounting concept, has far-reaching implications for search fund operators. As searchers evaluate potential targets, the revenue recognition policies in place can significantly impact not only reported financial performance but also the underlying valuation of the business. Understanding these nuances

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Understanding EBITDA in the Search Fund Context

Articles, Featured Events, Jim Donellon, News, News & Events, Search Fund / By

By James A. Donellon, CPA, MSA Gray, Gray & Gray, LLP For search fund operators and entrepreneurs through acquisition (ETA), few financial metrics carry as much weight as EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization). This metric serves as the foundation for business valuation, particularly in the lower middle market where most search funds

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Key Considerations in Choosing the Right Accounting Firm for Your Search Fund

Articles, Featured Events, News, News & Events, Rich Frizzell, Search Fund / By

By Richard Frizzell, CPA, MSAGray, Gray & Gray, LLP Selecting the right accounting firm represents a critical decision for a search fund entrepreneur. A well-chosen accountant not only ensures regulatory compliance but also adds significant value during your search process, transaction phase and post-acquisition operations. With the unique challenges that searchers, from raising capital to

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Structuring and Tax Efficiency for Search Funds

Articles, Featured Events, Kelly Berardi, News, News & Events, Search Fund / By

By Kelly A. Berardi, JD, LL.M Gray, Gray & Gray, LLP In the entrepreneurial landscape, search funds have emerged as a compelling path for aspiring business owners to acquire and operate established companies. As search fund activity continues to grow, entrepreneurs and investors alike face critical decisions regarding fund structure and tax planning that can

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