What He Built
Dr. Carver built his MedSpa over nearly two decades in the Northeast. Three locations. A business that had held its ground and maintained its revenue through market shifts and industry change.
Getting Ready
When he decided he was ready to sell, he started with the books. He spent roughly a year separating the financials by location and cleaning them up before looking for representation. He found PTG through an internet search and reached out through the website.
Going to Market
PTG reviewed what he had built. The fundamentals were strong – an established group with loyal clientele in a region where buyers were actively looking to expand.
When PTG took the MedSpa to market, the year Dr. Carver spent on the books showed. Because the financials were separated by location, buyers could evaluate each spa on its own, and five offers came in close in value. With no clear frontrunner, buyers kept outbidding one another until the offers climbed well past where they started.
The Outcome
Dr. Carver and PTG weighed the final offers based on which buyer was most likely to see the sale through. They chose a strategically motivated group PTG had set expectations with before the LOI was signed – what the data would show, what it wouldn’t, and why the business was worth what it was. That buyer moved through due diligence and held their number.
Dr. Carver walked away with $8 million – an 8x multiple, approximately 80% cash at close. He went in with measured expectations about what the business would bring, and the outcome exceeded them.
Note: Details have been anonymized to protect client confidentiality.