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The Winning LOI

The Winning LOI [Vol.1, Issue 2]

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Issue 2 of The Winning LOI reviews M&A business valuation data and key M&A deal terms for a digital design business serving the transportation and manufacturing sectors. The business provides design resources and solutions, software, and training to the transportation design industry. The business went to market in Q4 2020, ultimately closing in Q1 2022. The business was generating (TTM) $7.2M in revenue and $1.3M in EBITDA at the time of the Winning LOI bid.
Consistent with all of our publications, all data presented in issues of The Winning LOI are fully anonymized to protect the confidentiality of Axial members and transactions.
If this was forwarded to you, you can sign up by clicking here; if you have feedback or ideas for how to improve The Winning LOI, please email: kristina.mayne@axial.net.


Disclosure: Data presented in the Winning LOI publication has been anonymized to protect the identity of the interested parties. Data is provided to Axial by Axial members in accordance with the Axial Member Terms of Service. Axial has endeavored to present data accurately, but Axial does not and cannot fully verify the accuracy of the presented information. Information contained in The Winning LOI is for informational purposes only, and does not represent investment advice or recommendations of any kind.

Definitions: 

*Buyside Recommendation: Axial sellside members receive a matching set of buyside members for every deal they manage via Axial. A buyside recommendation refers to a specific buyside Axial member who matches a particular deal.
*Recipients: A recipient is a buyside member who has been granted access by an Axial sell-side member to review a particular deal.
*Pursuit: Axial buyside members express initial interest in a deal by clicking “Pursue”, after which they can access and sign the NDA.
*Revenue Ruling 99-6: Partnership to disregarded entity. This ruling describes the federal income tax consequences if one person purchases all of the ownership interests in a domestic limited liability company (LLC) that is classified as a partnership under section 301.7701–3 of the Procedure and Administration Regulations, causing the LLC’s status as a partnership to terminate under section 708(b)(1)(A) of the Code.
*Axial Closer: An “Axial Closer” is defined as any buyside or sell-side member who has a verified closed deal that was both marketed and sourced via Axial. 
*Deal Pursuit Rate: The deal “Pursuit Rate” is defined as the number of times a particular deal is pursued by unique buy-side members (i.e. the buyer shows explicit interest in exploring the deal) divided by the total number of buyside members invited to evaluate the deal.
*Buyside Pursuit Rate: The buyside “Pursuit Rate” is defined as the number of deals pursued by a particular buyer in a specific timeframe (in this case, within the last 90 days), divided by the total number of deals sourced during the same timeframe.

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