We are under a non-exclusive LOI with an independent sponsor right now. The sponsor is raising $2M cash to close and the seller is financing the rest of the deal that also includes an earn-out element. If the sponsor gets commitments for the $2M, we'll go exclusive and try to close withinredacteddays (since they've had full diligence data since LOI signing). If any searchers out there would be interested in investing or lending on the deal, let me know!! Or if you have $2M lined up, we would pivot the same deal to a new buyer. First one to $2M wins!

I attempted to buy my biggest OEM several years ago. Very similar situation. I had no issue with the customer concentration. He did. This potential issue was the deal was tied to the customer NOT leaving me. He would have stayed semi involved for maybe a year(just as an advisor) but because I was his supplier, supply wasn't a problem. The bigger issue was me getting to the know the customer and developing my own relationship. I would have made it work, but he got sick and the deal never materialized. In terms of the financials, I offered him X upfront and the balance seller financing over 5 years with an option to buy the equipment/land. I literally had the bank, the SBA loan, and the due diligence. Life got in the way. The customer concentration actually made it less stressful for me as the buyer. Hope that helps?