MANAGING GENERAL AGENCY (MGA) FOR SALE
Owner to stay on and operate company. Late 40's, plenty of enthusiasm for industry.
$3MM of EBITDA on $12MM of revenue. $2.5MM EBITDA add-on immediately possible.
Consider significant minority or majority recap with preference for 80% cash at close and 20% earn out or seller note. Licensed in 18 states.
MGA valuations are at 8-10x EBITDA.
Would love to get a deal done in 2020 given tax code uncertainty.