Pascal Ambrosino

Buying great businesses from great people. I spent several years training accountants in East Africa. Now passionate about SMB and M&A.

[Pascal Ambrosino @pascal_ambro]

@LogersT @thesamparr Would love to see this if you're willing to share

[Pascal Ambrosino @pascal_ambro]

@petelehrman 9/10 times it comes down to price.

Arguably the second most important factor is ability to close.

[Pascal Ambrosino @pascal_ambro]

@jayvas Especially true for SMB financial statements. Can’t begin to describe the different ways I’ve seen WIP and inventory calculated.

[Pascal Ambrosino @pascal_ambro]

@RonGoss78 @ConnorAbene This sounds more like 100% margin.

[Pascal Ambrosino @pascal_ambro]

@petelehrman Focused on the quality of the business. Data on the advisor is just noise when it comes to pursuing a quality business!

[Pascal Ambrosino @pascal_ambro]

@GrowinOmaha In Canada we have the CBV (Certified Business Valuator) designation which is growing really fast for those involved in M&A

[Pascal Ambrosino @pascal_ambro]

@BuySellSMB @yilunzh What type of businesses do you see with a $65k-80k GM?

[Pascal Ambrosino @pascal_ambro]

@ClintFiore These same business owners: You can hire my replacement for $80k.

[Pascal Ambrosino @pascal_ambro]

@ChandlerReedSMB Custom engineered products/solutions would be one of them.

[Pascal Ambrosino @pascal_ambro]

@jayvas I’ve seen single vet clinics go for low double digit multiples, which I thought was wild. But 28x… wow

[Pascal Ambrosino @pascal_ambro]

@jayvas Great question! One of my favourites is “what’s preventing me from competing with your business?”. Usually get a different answer than asking what makes you different, etc

[Pascal Ambrosino @pascal_ambro]

@bentigg Could be a tax accountant or tax lawyer. Someone that can holistically consider your situation and intention to sell, hold your hand and set you up for success (and a lower tax bill!). This is a great list by the way.

[Pascal Ambrosino @pascal_ambro]

@jayvas I see so many of these in the US. Always wonder how much of a discount they trade at.

[Pascal Ambrosino @pascal_ambro]

@D_Rose92 @DadInvest I completely agree. Not a place to buy a business to run remotely.

[Pascal Ambrosino @pascal_ambro]

@Chris_Schuering Not exceed. The gap in valuation expectations between buyers and sellers will increase in 2023.

[Pascal Ambrosino @pascal_ambro]

@XavierHelgesen I remain optimistic. Though having worked in East Africa for several years, it is incredibly difficult to do business there and little to no purchasing power among consumers. It will be a slow process!

[Pascal Ambrosino @pascal_ambro]

@ClintFiore Big EBITDA margins can be scary. Can be a sign that the owner is doing A LOT and has under invested in opex. Pull the owner out of the business and then the reality hits that you need to spend to build infrastructure

[Pascal Ambrosino @pascal_ambro]

@KHendersonCo Ideally you can get all shareholders on board and in agreement at the LOI stage before spending too much on dilligence!