Mastering Business Acquisitions: Most Unique Business Sold

We sold a really cool one that dealt with psychological evaluations. So let's say you were in an accident or were in some sort of litigation where you had to prove you had psychological damage, emotional stress, whatever that may be.So you've hired lawyers to this litigation for you. And to prove that, you need to hire a third party to do the psychological evaluation. So you hire the third party, they do the evaluation, give the test to you, give the results, and you bring that to court to prove that.

That's what this company did. So they provide psychological evaluations. They were actually based in Canada, and they're paid by law firms.

The law firms will hire them to do these evaluations. So as a business, when you look at it from a buyer, obviously it's very attractive for a couple of reasons. It's very necessary.

The clients are legal firms that are not too much at risk of going under. They're very reliable clients. It might be a longer cash conversion cycle as far as collecting that money, but they pay out very well.

We have a similar business that dealt with brain injury trauma, similar thing, paid by law firms. So those were two just great deals, very attractive, doing a couple million in EBITDA for the psychological evaluation one. During that process, we had to deal with, this was my partner Lauren who dealt with this business, during the time that Canada was raising the capital gains tax rate.

So that was another wrench into the process that they were trying to work through with the buyer and the seller, but very attractive business. They got a lot of offers on that one. So that was a fun one.