window.gmKnowledgeBase = (window.gmKnowledgeBase || []).concat([ { id: "valuation-basics", question: "How does Goldmont think about valuing a business?", keywords: ["value", "valuation", "how do you value", "multiple", "worth", "price"], answer: "We usually start with a multiple of normalized EBITDA, then adjust for growth, concentration risk, capital intensity, and overall quality of earnings. We also look at your industry, size, and resilience across cycles to shape a fair, defensible range rather than a single magic number." }, { id: "valuation-range-expectations", question: "My broker told me I can get a much higher price. Why is your range lower?", keywords: ["broker", "higher price", "range", "why lower", "valuation range"], answer: "Brokers often market the very top of a possible range to create excitement. Our ranges are built from what buyers actually close at after diligence, financing, and risk adjustments. We would rather give you a realistic, executable valuation than an optimistic number that never survives to closing." }, { id: "what-is-normalized-ebitda", question: "What does normalized or adjusted EBITDA mean?", keywords: ["normalized EBITDA", "adjusted EBITDA", "add backs", "addbacks"], answer: "Normalized EBITDA means the earnings of the business after removing one-off, owner-specific, or non-recurring items. That might include excess owner salary, personal expenses running through the company, non-recurring legal costs, or other items that do not reflect the ongoing earnings power of the business." }, { id: "which-addbacks-count", question: "Which add-backs will you accept in valuation?", keywords: ["addbacks", "add backs", "what counts", "owner perks", "personal expenses"], answer: "We are open to reasonable add-backs that are clearly documented and truly non-recurring or owner-specific. Examples include personal vehicles, family health insurance on the company plan, unusual one-off legal fees, or a salary above what a market-rate replacement would cost. Aggressive or unclear add-backs tend to get discounted." }, { id: "revenue-vs-ebitda-focus", question: "Do you value based on revenue or EBITDA?", keywords: ["revenue multiple", "sales multiple", "ebitda multiple", "top line", "bottom line"], answer: "For most healthy, profitable companies we value primarily on EBITDA, not revenue. Revenue matters as a size and growth signal, but cash-generating earnings are what support debt, equity returns, and long-term sustainability." }, { id: "growth-impact-valuation", question: "How does growth rate impact my valuation?", keywords: ["growth", "growing", "trend", "decline", "flat", "trajectory"], answer: "Sustained, profitable growth usually justifies a higher multiple because the buyer is paying for next year’s earnings as well as today’s. Flat or declining trends, even with strong current EBITDA, can put pressure on valuation unless there is a clear and credible plan to reverse them." }, { id: "customer-concentration-risk", question: "What happens if I have a few large customers?", keywords: ["customer concentration", "big customer", "top customer", "key account"], answer: "High customer concentration increases risk because losing one or two accounts can materially change the business. We typically adjust valuation or structure (for example with earn-outs or seller notes) to share this risk, while also looking at contract terms, history, and stickiness of the relationship." }, { id: "owner-dependence", question: "What if the business is very dependent on me personally?", keywords: ["depend on owner", "owner dependent", "key man", "key person risk"], answer: "Heavy dependence on the owner can impact value, structure, or the length of your transition. We try to understand where critical relationships and decisions sit today, then design a transition and leadership plan so the company can thrive without you. The more transferable your role, the more robust your valuation and structure can be." }, { id: "one-off-events", question: "Will one bad year ruin my valuation?", keywords: ["one bad year", "covid", "down year", "temporary", "blip"], answer: "One unusual year by itself does not define your value. We look at multiple years, the reasons behind the dip, and the recovery. If there is a clear, documented story—such as a one-time disruption or major client event—we normalize around the long-term earnings power instead of punishing a single bad year." }, { id: "what-data-do-you-need", question: "What information do you need to give me a valuation range?", keywords: ["what information", "what data", "what do you need", "documents", "financials"], answer: "To give a useful range, we typically need several years of P&Ls, a recent balance sheet, basic customer and revenue breakdowns, headcount and payroll, and a high-level view of your operations. We can start with what you have and then request specifics as needed, rather than overwhelming you with a giant checklist on day one." }, { id: "how-fast-valuation", question: "How quickly can you give me a valuation range?", keywords: ["how fast", "how quickly", "valuation range timeline", "get a number"], answer: "Once we have clean financials and a short call to understand the story behind the numbers, we can usually give a thoughtful valuation range within about a week. A full, binding offer with structure details will follow deeper review and discussion." }, { id: "fees-for-valuation", question: "Do you charge me for a valuation or initial review?", keywords: ["valuation fee", "do you charge", "cost for valuation", "upfront fee"], answer: "No. We do not charge an upfront fee for a preliminary valuation review. Our work at this stage is part of building a relationship and deciding together whether it makes sense to move toward a formal offer and diligence process." }, { id: "loi-vs-term-sheet", question: "What is an LOI and is it binding?", keywords: ["loi", "letter of intent", "term sheet", "binding", "non binding"], answer: "An LOI (letter of intent) or term sheet outlines the headline terms of a proposed deal—price range, structure, timing, and key conditions. Most LOIs are largely non-binding on the economics, but they are serious roadmaps and usually include binding clauses around exclusivity and confidentiality." }, { id: "deal-structure-basics", question: "What does a typical deal structure look like with Goldmont?", keywords: ["deal structure", "cash at close", "earn out", "seller note", "rollover"], answer: "Most of our deals blend upfront cash with some combination of seller notes, possible earn-outs, and optional rollover equity. The mix depends on risk, growth, capital needs, and your goals. We aim for a structure that gives you meaningful cash at closing and lets us share upside fairly." }, { id: "closing-timeline", question: "How long does it usually take to close a deal?", keywords: ["how long to close", "timeline", "process length", "time to closing"], answer: "From a signed LOI, most transactions close in roughly 60 to 120 days. The exact timing depends on responsiveness for information, third-party consents (like landlords and lenders), and how complex the legal and financing structures need to be." }, { id: "what-can-delay-closing", question: "What typically delays closing or kills deals?", keywords: ["delay closing", "kill deal", "deal died", "fell apart", "issues"], answer: "Deals most often stall when there are surprises in the numbers, unaddressed tax or legal issues, or slow responses on information and approvals. We try to front-load hard questions, stay transparent about findings, and work with you to solve problems instead of using them as excuses to re-trade." }, { id: "confidentiality-process", question: "How do you protect confidentiality while evaluating my business?", keywords: ["confidentiality", "keep it quiet", "who will know", "discreet"], answer: "We treat confidentiality as critical. Early conversations are strictly private, and we use NDAs before seeing sensitive data. We do not contact employees, customers, or suppliers without your explicit consent and an agreed plan. When we need third-party input, we work with you on who to tell, when, and how." }, { id: "who-do-you-talk-to", question: "Will you talk to my employees or customers during the process?", keywords: ["talk to employees", "talk to customers", "reference calls", "customer calls"], answer: "Eventually, most buyers want some confirmation from key people, but the timing and approach are coordinated with you. Typically we wait until later in diligence or after signing definitive documents, and we are very deliberate about which employees or customers are involved, to avoid unnecessary disruption." }, { id: "post-close-role", question: "Do you expect me to stay on after closing?", keywords: ["stay after closing", "transition period", "my role", "post close role"], answer: "It depends on your goals and how dependent the business is on you. Some owners stay in a leadership capacity for years; others transition out over 6–12 months. We usually design a clear transition plan with defined responsibilities, compensation, and a timeline that works for both sides." }, { id: "treatment-of-employees", question: "What happens to my employees if I sell to Goldmont?", keywords: ["employees", "staff", "team", "what happens to employees", "layoffs"], answer: "Our goal is to preserve and support the teams that have made the business successful. We do not buy companies with the intention of mass layoffs. We look for ways to create stability, clarify roles, and invest in people so the business can grow rather than be stripped down." }, { id: "brand-and-name", question: "Will you change the company name or brand after close?", keywords: ["company name", "brand", "rebrand", "keeping the name"], answer: "In many cases we keep the existing name and brand, especially where it carries reputation and trust in the market. If we do contemplate changes, we will talk through the rationale and timing with you rather than surprise you or your customers." }, { id: "real-estate-treatment", question: "How do you handle real estate that I own personally?", keywords: ["real estate", "building", "property", "leaseback", "sell building"], answer: "We can either buy the real estate as part of the transaction or structure a long-term lease where you remain the landlord. Many owners like retaining the property for ongoing rental income, while others prefer a clean exit with both the business and the building sold." }, { id: "working-capital-at-close", question: "What does it mean to deliver a normal level of working capital at closing?", keywords: ["working capital", "net working capital", "nwc", "at close", "peg"], answer: "Working capital is typically accounts receivable plus inventory minus accounts payable and certain liabilities. Buyers expect the company to come with enough working capital to run at historical levels. We usually agree a target pegged to past performance so you are not drained of cash nor overfunding the buyer." }, { id: "net-debt-adjustments", question: "How do you handle debt and cash in the purchase price?", keywords: ["debt free cash free", "net debt", "cash at close", "line of credit"], answer: "Most deals are priced on a debt-free, cash-free basis. That means enterprise value minus net debt equals the equity value you receive. You typically keep excess cash, and company debt is paid off at or before closing, from proceeds or other arrangements we agree in advance." } ]); window.gmKnowledgeBase = (window.gmKnowledgeBase || []).concat([ { id: "rollover-basics", question: "What is rollover equity and why would I want it?", keywords: ["rollover", "roll over", "equity", "keep a stake", "retain ownership"], answer: "Rollover equity means you reinvest a portion of your sale proceeds into the new ownership structure. It lets you participate in the future upside if the company grows. Many owners like rollover because they get meaningful cash at close but still have a stake in the next chapter." }, { id: "how-much-rollover", question: "How much rollover equity is typical?", keywords: ["how much rollover", "percentage rollover", "rollover amount"], answer: "Rollover levels vary, but a common range is 10–40% of your equity value. The right number depends on your liquidity goals, the risk profile of the business, and how strongly you want to participate in future upside alongside us." }, { id: "rollover-rights", question: "What rights do I have with rollover equity?", keywords: ["rollover rights", "information rights", "voting rights", "governance"], answer: "Rollover equity usually comes with clear information rights and defined voting or consent rights on major decisions. You may not be making day-to-day calls, but you should know how the company is performing and have a say on big moves like a sale, major recapitalization, or changes that affect your economic stake." }, { id: "liquidity-of-rollover", question: "When can I get liquidity on my rollover equity?", keywords: ["liquidity", "cash out", "exit rollover", "second bite"], answer: "Rollover equity is typically realized when there is a future sale or recapitalization of the business. Sometimes there are interim opportunities to sell a portion of your stake to new investors or the company itself. We aim to be transparent about likely time horizons and paths to liquidity." }, { id: "earnout-basics", question: "What is an earn-out and when do you use it?", keywords: ["earnout", "earn-out", "performance payment", "contingent", "milestone"], answer: "An earn-out is a contingent payment based on the company hitting agreed performance targets after closing, such as EBITDA or revenue thresholds. We use earn-outs when there is genuine disagreement about future performance or when a big growth plan is central to the valuation." }, { id: "earnout-metrics", question: "How are earn-outs measured and paid?", keywords: ["earnout structure", "earnout metrics", "how measured", "targets"], answer: "We try to keep earn-outs simple and objective, most often tied to clearly defined EBITDA or revenue metrics over a set period, such as two or three years. Payouts are typically annual or at the end of the measurement period, with transparent financial reporting so you can track progress." }, { id: "earnout-risks", question: "What are the risks with earn-outs for a seller?", keywords: ["earnout risk", "getting paid", "change control", "manipulate"], answer: "The main risks are lack of control and disagreements about how results are calculated. To mitigate this, we define metrics clearly, outline allowed adjustments, and, when appropriate, give you ongoing visibility or involvement. We prefer structures that are fair and achievable rather than games of gotcha." }, { id: "seller-note-basics", question: "What is a seller note and why is it used?", keywords: ["seller note", "seller financing", "promissory note"], answer: "A seller note is a loan from you to the buyer, repaid over time with interest. It often fills a gap between bank financing and cash at close. Seller notes can improve total economics and signal confidence in the business, but they should be sized and structured so you are comfortable with the risk." }, { id: "seller-note-terms", question: "What typical terms apply to a seller note?", keywords: ["seller note terms", "interest rate", "amortization", "subordination"], answer: "Common terms include a fixed interest rate, a defined repayment schedule over several years, and subordination to senior bank debt. We work with you on rate, security, and covenants so the note is a reasonable, transparent component of your overall consideration rather than a backdoor price cut." }, { id: "personal-guarantees", question: "Will I be asked to personally guarantee anything after closing?", keywords: ["personal guarantee", "pg", "guaranty", "guarantees"], answer: "Our goal is that your personal guarantees phase out at or before closing, not expand. We usually seek to replace your guarantees on bank lines, leases, and vendor accounts with our own credit, though some counterparties may require a transition period that we navigate with you." }, { id: "noncompete-basics", question: "Will I have to sign a non-compete agreement?", keywords: ["noncompete", "non compete", "restrictive covenant", "cannot compete"], answer: "Most buyers, including us, require a reasonable non-compete and non-solicit, typically focused on your industry, geography, and a defined time frame. The intent is to protect the value of the business you are selling, not to prevent you from ever working again." }, { id: "transition-consulting", question: "Can I stay on as a consultant instead of a full-time employee?", keywords: ["consultant", "consulting", "advisory role", "part time", "transition support"], answer: "Yes, many sellers prefer a consulting or advisory role post-close. We can structure a transition services agreement with clear time commitments, deliverables, and compensation, giving you flexibility while ensuring the business gets the knowledge transfer it needs." }, { id: "management-team-role", question: "What happens to my current management team after the sale?", keywords: ["management team", "leaders", "managers", "key people", "leadership"], answer: "We aim to retain and empower strong managers. We look at each leader’s strengths and gaps, then design roles, incentives, and reporting lines that help them succeed in the next phase. If we need to add capabilities, we prefer to do so in a way that complements, not displaces, your existing team." }, { id: "bonus-and-incentives", question: "Do you offer incentive plans for my team after closing?", keywords: ["bonus plan", "incentive plan", "profit sharing", "equity for employees"], answer: "We often add performance-based bonuses or, in some cases, equity or phantom equity for key leaders. The goal is to align incentives with growth and profitability so your team benefits when the company does well in the next chapter." }, { id: "integration-approach", question: "How heavy-handed is your integration approach?", keywords: ["integration", "change", "systems", "playbook", "takeover"], answer: "We prefer a people-first, minimally disruptive integration. In many cases we leave branding, day-to-day operations, and front-line relationships largely intact while improving systems, reporting, and governance behind the scenes. We try to fix what is broken and strengthen what already works." }, { id: "systems-and-software", question: "Will you force us onto new systems and software right away?", keywords: ["systems", "software", "erp", "crm", "change systems"], answer: "We do not rush technology changes just for the sake of it. We first understand what you are using, what is working, and where the pain points are. Then we plan upgrades in phases, with training and support, instead of dropping a new system on the team overnight." }, { id: "how-goldmont-is-funded", question: "Where does Goldmont get the money to buy companies?", keywords: ["where is money from", "funding", "capital", "investors", "bank financing"], answer: "We combine our own capital with support from lenders and long-term investment partners. Before we present a serious offer, we know how we will fund it. We are not trying to win deals on paper and then scramble to find the money later." }, { id: "why-choose-goldmont", question: "Why should I sell to Goldmont instead of another buyer?", keywords: ["why goldmont", "why you", "other buyers", "strategic vs financial"], answer: "Our focus is on straightforward valuations, simple structures, and low-drama integrations that protect your legacy. We are not trying to flip you quickly or run a private equity playbook that relies on aggressive leverage and cost-cutting. We want the sale to feel fair on day one and still feel fair five years later." }, { id: "working-with-brokers", question: "Can you work with my broker or advisor?", keywords: ["broker", "advisor", "investment banker", "m&a advisor"], answer: "Yes. We frequently work with brokers, bankers, and sell-side advisors. Clear communication and aligned expectations help everyone. If you do not have an advisor, we can also suggest what kind of support might be helpful and when." }, { id: "exclusivity-period", question: "What does exclusivity mean in an LOI?", keywords: ["exclusivity", "no shop", "can I talk to other buyers"], answer: "Exclusivity means that for a defined period after signing the LOI, you agree not to negotiate with other buyers. In return, we commit time, money, and attention to due diligence and finalizing the deal. The period is usually 45–90 days, depending on complexity." }, { id: "renegotiation-risks", question: "Will you try to renegotiate the price after diligence?", keywords: ["retrade", "renegotiate", "lower price", "bait and switch"], answer: "Our intent is to avoid surprise re-trades. If the information during diligence matches what we understood at LOI, we stand by our structure. If there are material, unexpected issues, we discuss them transparently, quantify the impact, and work with you toward a solution rather than using them as a blunt instrument." }, { id: "tax-structure-basics", question: "How will the deal be structured from a tax standpoint?", keywords: ["tax", "asset sale", "stock sale", "taxes I pay", "structure for tax"], answer: "Deals can be structured as asset sales, stock sales, or hybrids. Each has tax implications for both you and us. We work with your tax advisors to find a structure that is acceptable to both sides, and we are open about how those choices affect valuation and after-tax proceeds." }, { id: "what-about-my-benefits", question: "What happens to my personal benefits that run through the business?", keywords: ["benefits", "health insurance", "car", "perks", "fringe"], answer: "Items like personal health insurance, vehicles, and other perks are typically normalized out of the business post-close. We capture them as add-backs for valuation purposes, and then we decide together which of those arrangements continue personally and which ones are unwound as part of the transition." } ]); window.gmKnowledgeBase = (window.gmKnowledgeBase || []).concat([ { id: "timing-to-start-process", question: "When is the right time to start a sale process?", keywords: ["when to sell", "right time", "timing", "start process"], answer: "The best time is when the business is healthy, you still have energy, and you are not under pressure from burnout, health, or lenders. Starting earlier gives you more options: you can slow down, speed up, or even decide not to sell if it does not feel right." }, { id: "partial-vs-full-sale", question: "Can I sell part of the business instead of all of it?", keywords: ["partial sale", "sell a portion", "majority vs minority", "recap"], answer: "Yes. In some cases we can structure a majority recap where you sell a large portion and keep a meaningful stake, or explore minority investments. The right approach depends on your goals, your appetite for risk, and what will support the business best in the next few years." }, { id: "handling-family-members", question: "How do you handle family members who work in the business?", keywords: ["family", "kids", "spouse", "relatives", "family employees"], answer: "We approach family members with respect and clarity. We look at their roles, capabilities, and desires, then decide together whether they remain in current roles, move into new ones, or exit with a fair transition. Surprises are avoided; we prefer open, thoughtful conversations." }, { id: "health-or-burnout", question: "What if I am burned out or dealing with health issues?", keywords: ["burnout", "health issues", "tired", "worn out"], answer: "You are not alone in feeling that way. Many owners explore a sale because they are carrying too much alone. We factor leadership depth and your desired involvement into our plans so the business can keep thriving while you step back to a level that is sustainable for you." }, { id: "multiple-offers", question: "What if I receive multiple offers from different buyers?", keywords: ["multiple offers", "bids", "other buyers", "auction"], answer: "Price matters, but so do certainty of close, structure, and who you are partnering with. We encourage you to compare not just headline price but also terms, people, track record, and how they plan to treat your team and legacy. We are happy to walk through our offer in detail so you can compare apples to apples." }, { id: "ndas-and-document-sharing", question: "Do you sign NDAs before reviewing my detailed information?", keywords: ["nda", "non disclosure", "confidentiality agreement"], answer: "Yes. Before we review detailed financials or sensitive information, we sign a non-disclosure agreement that governs how we can use and share your data. Our reputation depends on honoring those commitments." }, { id: "what-if-deal-falls-through", question: "What happens if the deal does not close?", keywords: ["deal falls through", "if it does not close", "what then"], answer: "If a deal does not close, you keep your business. Any insights you gain about your numbers, processes, and documentation can still be valuable. We treat non-closed processes respectfully and do not use your information in ways that compete with you or harm your position in the market." }, { id: "earnings-quality-review", question: "Will you require a quality of earnings (QoE) report?", keywords: ["qoe", "quality of earnings", "third party report"], answer: "For many transactions we do commission a third-party quality of earnings review to validate the financials and adjust for one-off items. It is a deeper version of financial diligence. We share the scope, timing, and expectations with you so it is not a black box." }, { id: "who-pays-qoe", question: "Who pays for the quality of earnings report?", keywords: ["who pays qoe", "qoe cost", "diligence cost"], answer: "Usually the buyer pays for the QoE report as part of its diligence costs. In some competitive situations or special structures, there may be shared costs, but our default assumption is that this is on our side of the table." }, { id: "legal-counsel-for-seller", question: "Do I need my own lawyer and accountant?", keywords: ["own lawyer", "own counsel", "accountant", "cpa"], answer: "Yes. We strongly encourage you to have experienced legal and tax advisors who represent only you. A good advisor can actually make the process smoother by spotting issues early and helping both sides get to a clear, durable agreement." }, { id: "list-of-documents", question: "What kinds of documents will you request during diligence?", keywords: ["document list", "diligence list", "checklist", "data room"], answer: "Typical requests include detailed financials, tax returns, customer and supplier lists, key contracts, leases, employment agreements, HR policies, IT and systems info, insurance, and any legal or regulatory correspondence. We stage requests so you are not overwhelmed all at once." }, { id: "site-visit", question: "What happens during a site visit?", keywords: ["site visit", "facility tour", "plant visit", "office visit"], answer: "A site visit usually includes a tour of operations, introductions to key managers (as appropriate), and time to observe how work actually gets done. We are there to learn, not to disrupt. We coordinate timing and who is involved so it aligns with your confidentiality needs." }, { id: "customer-references", question: "Will you talk directly to my customers?", keywords: ["customer reference", "customer calls", "talk to clients"], answer: "At some point, we often request a small number of customer reference calls to validate service, relationships, and concentration risk. We coordinate exactly who we speak with, what we ask, and when it happens so it supports the deal rather than unsettling your customer base." }, { id: "supplier-relationships", question: "Will you contact my key suppliers or vendors?", keywords: ["suppliers", "vendors", "key vendor", "supply relationships"], answer: "If supplier relationships are critical, we may need to speak with them to confirm terms or assignment rights. We typically wait until we are highly confident in closing and always coordinate the message and timing with you to protect those relationships." }, { id: "landlord-consent", question: "What if my landlord has to approve the transfer?", keywords: ["landlord", "lease assignment", "consent", "property owner"], answer: "Landlord consent is a common condition to closing. We review your lease, understand the consent requirements, and then approach the landlord with a clear story and assurances. We prefer to engage them early enough to avoid last-minute surprises." }, { id: "minority-owners", question: "How do you handle minority shareholders or silent partners?", keywords: ["minority owners", "partners", "silent partner", "other shareholders"], answer: "We need to understand all ownership interests and any shareholder agreements early on. For a clean closing, we usually require all equity holders to participate or consent. If there are tensions among owners, we work carefully through those dynamics with you and your counsel." }, { id: "indemnification-basics", question: "What are indemnities and how do they affect me?", keywords: ["indemnity", "indemnification", "claims", "survival period"], answer: "Indemnities are promises you make about the condition of the business and your authority to sell. If certain statements prove false, the buyer can seek compensation, usually subject to caps, baskets, and time limits. We aim for market-standard terms that protect both sides without making you feel like the sale is never truly done." }, { id: "escrow-holdback", question: "Will part of my purchase price be held in escrow?", keywords: ["escrow", "holdback", "escrow account", "retainage"], answer: "Many deals use an escrow or holdback, often 5–15% of the purchase price, held for a defined period to cover potential indemnity claims. If no issues arise, the escrow is released to you according to the agreed schedule." }, { id: "warranties-reps", question: "What are reps and warranties in a purchase agreement?", keywords: ["reps", "representations", "warranties", "purchase agreement"], answer: "Reps and warranties are statements you make about the business—such as accurate financials, ownership of assets, compliance with laws, and no undisclosed liabilities. We tailor these to your specific company and use them, together with indemnities, to allocate risk fairly." }, { id: "earnings-trend-importance", question: "How important is my recent earnings trend?", keywords: ["recent trend", "last 12 months", "l12m", "run rate"], answer: "Recent performance carries a lot of weight. Buyers pay close attention to trailing twelve-month results and the current run-rate. Strong recent trends can lift valuation; weakening trends may pull it down unless there is a clear explanation and plan to stabilize." }, { id: "cash-vs-gaap", question: "Does it matter if my books are on cash basis?", keywords: ["cash basis", "accrual", "gaap", "accounting method"], answer: "We can work with either cash or accrual books, but we may need to make adjustments to compare apples to apples. For many deals, we convert key metrics to an accrual view so that revenue and expenses line up with when they are actually earned or incurred." }, { id: "owner-salary-adjustments", question: "How is my own salary treated in valuation?", keywords: ["owner salary", "compensation", "wage", "what I pay myself"], answer: "If your salary is above or below what a market-rate replacement would cost, we adjust EBITDA accordingly. Overpaying yourself can increase normalized EBITDA; underpaying can reduce it. The goal is to model what the business looks like with a typical leader in your seat." }, { id: "capital-expenditure-needs", question: "How do you account for ongoing capital expenditures?", keywords: ["capex", "capital expenditures", "equipment replacement", "maintenance"], answer: "We look at both historical and future capex needs. If the business requires heavy reinvestment to maintain earnings—such as frequent equipment replacement—that is factored into valuation and structure. Lower capital intensity can support stronger multiples." }, { id: "industry-vs-generalist", question: "Do you only buy in certain industries?", keywords: ["industry focus", "which industries", "sector", "niche"], answer: "We focus on healthy, profitable businesses where we can understand the economics and risk, not on one narrow sector. We prefer recurring or repeat revenue, strong customer relationships, and markets where operational excellence matters more than hype." } ]); window.gmKnowledgeBase = (window.gmKnowledgeBase || []).concat([ { id: "size-of-business", question: "What size of business does Goldmont typically look for?", keywords: ["size", "revenue size", "ebitda size", "how big", "how small"], answer: "We are most active with companies that are consistently profitable and large enough to support a professional leadership team, but not so large that the process becomes bureaucratic. If you are unsure whether you fit, we are happy to have an initial conversation and tell you quickly." }, { id: "dealing-with-seasonality", question: "My business is seasonal. How do you handle that in valuation?", keywords: ["seasonal", "seasonality", "busy season", "slow season"], answer: "Seasonality by itself is not a problem. We look at full-year results across multiple years to understand patterns and working capital needs. What matters is whether the business is consistently profitable and well-managed across those peaks and troughs." }, { id: "backlog-and-pipeline", question: "Do you consider my backlog or sales pipeline?", keywords: ["backlog", "pipeline", "order book", "booked work"], answer: "Yes. A strong, well-documented backlog or pipeline can support a higher valuation and better structure, especially when it is diversified and tied to repeat customers. We pay close attention to contract quality, probability of close, and cancellation risk." }, { id: "intellectual-property", question: "How do you treat intellectual property or proprietary methods?", keywords: ["intellectual property", "ip", "patents", "trade secrets", "proprietary"], answer: "Valuable IP can enhance both valuation and strategic options, especially if it creates defensibility or high switching costs. We look at how well it is documented, protected, and actually used in the business rather than simply relying on registrations." }, { id: "regulatory-issues", question: "What if my industry is heavily regulated?", keywords: ["regulated", "regulation", "licenses", "compliance"], answer: "Regulation is manageable if compliance is strong and documented. We review licenses, inspections, audits, and your compliance culture. Poor compliance or unclear exposure increases risk, but good discipline can actually be a strength and a barrier to entry." }, { id: "litigation-claims", question: "What if I have open legal disputes or claims?", keywords: ["lawsuit", "litigation", "claims", "legal dispute"], answer: "Open disputes do not automatically kill a deal, but they do need to be disclosed and understood. We look at severity, likelihood, and potential cost. Solutions can include escrows, specific indemnities, or structure adjustments so that risks are contained rather than ignored." }, { id: "accounts-receivable-quality", question: "Do you analyze the quality of my accounts receivable?", keywords: ["accounts receivable", "ar", "aging", "collections"], answer: "Yes. We look at aging, concentration, and historical write-offs. Healthy receivables with strong collection history support a more favorable working capital and risk profile. Chronic slow pay or disputes may impact valuation or deal structure." }, { id: "inventory-quality", question: "How do you treat old or slow-moving inventory?", keywords: ["inventory", "obsolete", "slow moving", "write downs"], answer: "We differentiate between healthy, current inventory and obsolete or very slow-moving items. Old inventory might be excluded from working capital targets or valued at a discount. Transparent, realistic treatment protects both the buyer and your reputation." }, { id: "owner-distributions", question: "Will my past owner distributions be judged negatively?", keywords: ["distributions", "dividends", "taking cash out", "owner draws"], answer: "Reasonable distributions are normal. We are more concerned with whether the business has been starved of needed investment or is carrying hidden liabilities. Healthy margins, reinvestment where needed, and clean financial records matter more than the fact that you took profits out." }, { id: "normalizing-covid", question: "How do you treat COVID or other extraordinary periods?", keywords: ["covid", "pandemic", "extraordinary", "one time event"], answer: "We separate structural changes from temporary shocks. If COVID created a spike or dip that has since normalized, we focus on the steady-state trajectory. If it permanently altered your market, we look at how you adapted and what the new baseline truly is." }, { id: "owner-personal-brand", question: "What if much of the business comes from my personal reputation?", keywords: ["personal brand", "reputation", "relationships", "founder driven"], answer: "Founder-driven businesses can still be very attractive if we can thoughtfully transfer relationships, codify know-how, and develop other leaders. We design a transition plan and, where appropriate, keep you involved in an ambassador or advisory role for a period of time." }, { id: "international-customers", question: "Does having international customers complicate a deal?", keywords: ["international", "overseas", "foreign customers", "export"], answer: "International exposure is fine as long as risks are understood—currency, political, legal, and logistical. We look at how diversified those revenues are and whether there are any regulatory or compliance considerations we need to build into the integration plan." }, { id: "earnout-vs-valuation-gap", question: "Can an earn-out help bridge a valuation gap?", keywords: ["bridge gap", "valuation gap", "earnout instead", "compromise"], answer: "Yes. When there is a genuine difference in views about future performance, an earn-out can bridge the gap by paying you more if the upside is realized. The key is to keep the structure simple, measurable, and aligned with how the business is actually managed." }, { id: "full-vs-partial-rollover", question: "Can I choose between more cash or more rollover equity?", keywords: ["more cash", "less rollover", "tradeoff", "choose structure"], answer: "Within reason, yes. We can often adjust the mix between cash, rollover, and seller financing to match your goals, while keeping the overall risk and return profile sensible for all parties. We will walk you through different scenarios so you can see the tradeoffs clearly." }, { id: "founder-legacy", question: "How do you think about preserving an owner's legacy?", keywords: ["legacy", "what I built", "keep my legacy", "values"], answer: "We see ourselves as stewards of what you have built. That means respecting your culture, taking care of your people, and building on your reputation rather than erasing it. We talk explicitly about what legacy means to you and how to embed those priorities in the integration plan." }, { id: "communication-to-team", question: "How do you recommend telling my team about the sale?", keywords: ["tell team", "announce sale", "communication", "message to employees"], answer: "We usually craft a joint communication plan that explains why you chose to sell, why you chose us, and what it means for the team. We favor honesty, clarity, and reassurance about jobs, benefits, and the path forward. Often we sequence conversations: leadership first, then broader staff." }, { id: "owner-anxiety", question: "I am nervous about losing control. Is that normal?", keywords: ["nervous", "anxious", "lose control", "fear"], answer: "Yes, it is completely normal. You may have run this business for decades. Our job is to give you clarity, not pressure: clarity on economics, structure, your future role, and what happens to your people. You should feel that you are choosing a partner, not giving up your life's work to strangers." }, { id: "timeline-flexibility", question: "How flexible can the timing be around closing?", keywords: ["timing flexibility", "move closing date", "timeline"], answer: "We generally set a target window for closing but can adjust within reason for seasonality, personal constraints, or legal and financing milestones. Clear communication around deadlines and dependencies helps us all stay coordinated if something needs to move." }, { id: "keeping-sale-confidential", question: "Can the sale stay confidential after closing?", keywords: ["post close confidentiality", "public announcement", "who will know"], answer: "In many private transactions, there is no public announcement at all. We share information only with those who need to know: your team, key partners, and necessary third parties. If we do consider any external communication, we will align on message and timing with you." }, { id: "owner-reinvestment", question: "Can I reinvest some of my proceeds into other Goldmont deals?", keywords: ["reinvest", "other deals", "invest with you", "co invest"], answer: "Depending on the structure and regulations, there may be opportunities to co-invest alongside us in other companies or vehicles. If that interests you, we can discuss how it might work so your experience as an owner translates into a broader investment role." }, { id: "post-close-reporting", question: "What kind of reporting and governance do you put in place post-close?", keywords: ["reporting", "governance", "board", "meetings", "kpi"], answer: "We typically implement a cadence of financial and operational reporting, along with a simple governance structure—such as quarterly board or review meetings. The goal is to keep a clear view of performance, risks, and opportunities without drowning the team in bureaucracy." }, { id: "founder-future-projects", question: "Can I start another business after I sell?", keywords: ["start another business", "new venture", "future company"], answer: "In most cases you can start new ventures, as long as they respect the non-compete and non-solicit terms agreed in the sale. We are protecting the specific business you sold, not trying to prevent you from being an entrepreneur or leader in other spaces." }, { id: "how-to-get-started", question: "What is the best way to start a conversation with Goldmont?", keywords: ["how to start", "next steps", "talk to you", "reach out"], answer: "The easiest next step is a confidential introductory call. We will ask for a high-level overview of your business, some basic numbers, and your goals. From there, we can tell you quickly whether we are a potential fit and what a simple, low-pressure evaluation path could look like." }, { id: "summary-of-process", question: "Can you summarize your overall process from first call to closing?", keywords: ["overall process", "steps", "from first call to closing", "high level"], answer: "At a high level, the process moves through five stages: (1) Intro conversations and preliminary financial review, (2) Valuation range and alignment on goals, (3) LOI with headline terms and exclusivity, (4) Confirmatory diligence and definitive documents, and (5) Closing and a structured transition. At each stage we explain what we need from you and what you can expect from us." } ]);