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 whatever came at it.
Getting Ready
When he decided he was ready to sell, he started with the books. He spent roughly a year separating the financials out by location and getting the books clean before he started looking for representation. He found PTG through an internet search, reached out through the website, and connected with Thomas Allen.
Going to Market
PTG reviewed what he had built. The fundamentals were strong – an established, physician-owned group with loyal clientele. The process moved forward on the strength of what the business was.
The market responded. Five offers came in from buyers who recognized a well-run, physician-owned group in a region they wanted to expand into. Dr. Carver came across well throughout the process – direct, business-savvy, someone buyers could see themselves working with. The offers landed close to each other, and buyers began moving up.
The Outcome
PTG moved forward with the group they believed would hold. The buyer was strategically motivated and PTG had set expectations with them before the LOI was signed – what the data would show, what it wouldn’t, and why the business was worth what it was. They moved through due diligence and held their number.
Dr. Carver walked away with $8 million – an 8x multiple, approximately 80% cash at close. He had come in with measured expectations about what the business would bring. The outcome exceeded all of them.
Note: Details have been anonymized to protect client confidentiality.