The highest offer is not automatically the most valuable offer.

Illustrative example only—not an actual Vantage transaction

Offer A — $5.0M

  • $3.2M cash at closing
  • $900K seller financing
  • $900K earnout
  • 24-month transition / performance exposure
  • Higher post-closing risk

Offer B — $4.6M

  • $4.3M cash at closing
  • $300K seller financing
  • No earnout
  • Shorter transition
  • Lower post-closing risk
$5.0M isn't automatically worth more than $4.6M.

The comparison does not make one structure universally better. Sellers may value liquidity, upside, certainty, tax timing, continued participation and risk differently depending on their objectives.

Read the whole offer

The terms determine how the headline becomes an outcome.

Cash at closing
The amount paid at closing after agreed adjustments and financing mechanics.
Seller financing
A note repaid by the buyer over time, creating both potential return and repayment risk.
Earnout
Future consideration dependent on defined post-closing performance or events.
Rollover equity
Ownership retained or reinvested in the post-transaction company.
Working capital
The operating capital delivered with the business and the mechanism for adjusting it at closing.
Transition support
The seller's time and obligations after closing.
Contingencies and risk allocation
Conditions, representations and remedies that affect certainty and exposure.

A more complete view

HEADLINE PRICE
Deferred consideration
Contingent consideration
Post-closing exposure
Working-capital / deal adjustments
A MORE COMPLETE VIEW OF THE OFFER
VALUATION
PURCHASE PRICE
CASH AT CLOSING
NET PROCEEDS
We negotiate the exit—not just the number.