In this episode of Sell Side Shorts, Michael Stanley breaks down one of the most critical documents in the M&A process: the Letter of Intent, or LOI. He explains what an LOI is, when it shows up in a transaction, and why it represents a major turning point for business owners considering a sale.

Michael walks through what an LOI typically includes, such as purchase price, deal structure, timing, exclusivity, and key contingencies. He also explains how an LOI differs from an indication of interest, why leverage often shifts once exclusivity is signed, and what happens during the pre-sale due diligence phase that follows.

If you’re a founder or business owner thinking about selling your company, this short episode provides a clear, practical look at why the LOI is the first real commitment in a transaction and why it deserves careful consideration before signing.

In this episode of the Sell Side Podcast, Michael Stanley sits down with Wilbur Ellis to break down platform acquisitions, add-on strategies, and what they mean for founders navigating today’s M&A landscape. They unpack how private equity groups execute buy-and-build strategies, what makes certain markets attractive, and why many business owners are surprised by the value and flexibility these deals can offer. The conversation also dives into unsolicited offers, common pitfalls, and how running a professional, competitive process can significantly impact valuation. Whether you’re building toward a platform transaction or considering an add-on exit, this episode offers practical insight into preparation, timing, and maximizing outcomes for founders.

https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/

In this episode of Sell Side Stories, we break down one of the most fundamental concepts in business valuation: how EBITDA and multiples work together to determine a company’s true enterprise value. We explore why EBITDA—earnings before interest, taxes, depreciation, and amortization—is used to normalize profitability and reveal a business’s real free cash flow.

From there, we dive into valuation multiples, unpacking how risk, industry dynamics, market trends, and strategic fit all influence where multiples land. We also discuss common EBITDA adjustments, including pro forma add-backs and one-time expenses, that can shape the final valuation picture.

Whether you're preparing to sell, exploring acquisition opportunities, or simply wanting to understand how buyers assess value, this episode offers a clear, practical breakdown of the mechanics behind business valuation.