Same EBITDA, Different Multiple: What Buyers Pay Extra For | Alex Fernandez (#109)

Why two businesses with the same EBITDA sell for different multiples, and how to be the one that commands the premium. Alex Fernandez, CEO of Synergy Orthopedic Specialists and former CEO of Gastro Health, grew a medical group to roughly $60 million in revenue, led its sale to private equity for over $100 million, and watched it exit again for close to $1 billion.beckersphysicianleadership+1 Want to know what makes your logistics business worth more? Download the free Business Value Cheat Sheet: 10 Steps to Increase the Value of Your Business: https://bizexitgrow.com/cheat-sheet Alex says a practice is a job you own, while a platform runs without you. The cheat sheet gives you 10 ways to build the platform. In this episode: – Why the private equity sweet spot starts around $5 million in EBITDA, and how to get there through bolt-on acquisitions – What separates a 6x multiple from an 8x on the same earnings: shared vision, a real management team, and platform infrastructure – How Alex structured roll equity to get a second bite of the apple – Why he dates before he gets engaged, and how pre-diligence keeps deals from dying – Where AI is adding capacity in his practices, from phone intake to billing, without cutting staff Connect with Alex: https://www.linkedin.com/in/alexfernandezmba | https://synergysmg.com Chapters 0:00 Welcome and guest introduction 0:58 From the front desk to running $100 million businesses 3:44 How Gastro Health merged, grew, and sold to private equity 4:30 The EBITDA range private equity actually wants 5:50 A practice is a job you own, a platform runs without you 7:21 How to structure your role after a sale 9:25 Same EBITDA, different multiple, and why 10:42 What drives a higher multiple: vision, team, platform 14:24 When to grow by acquisition instead of organically 17:30 Why deals die in diligence and how pre-diligence prevents it 21:18 Building the management layer years before a sale 23:46 How AI is expanding capacity in medical practices 29:35 Alex's practical takeaway #ExitAlgorithms #BusinessValuation #SmallBusinessOwner