Transaction Advisory
A Financial Partner for Buyers and Sellers, Grounded in Operator Experience.
We exist to close that gap.
Flying Horse Capital buys lower-middle-market businesses. We know what a buyer asks for, when they ask for it, and what happens to a deal when the numbers don't hold up under scrutiny. We put that experience to work for owners preparing to sell and for acquirers who need to know what they're actually buying.
This is finance work, done by people who have sat in the operator's chair. Not a report handed over at the end. Support through the process.
Sell-Side M&A
For owners who want their financials ready before a buyer starts asking.
Accounting support and preparation: We clean up the books, close out the gaps, and get your financials into a form a buyer will accept ideally well before you go to market.
Fulfill pre-close requirements: Schedules, reconciliations, supporting documentation. We handle the requests so you can keep running the business.
Prepare ongoing financials and review diligence responses: Deals take months. Reporting doesn't stop. We keep the monthly financials current through the process and review every response before it goes back to the buyer.
Buy-Side M&A
For acquirers who need the numbers behind the story.
Financial due diligence: A clear-eyed look at the target's financial position - what's real, what's an estimate, and what needs to be renegotiated before you sign.
Quality of earnings analysis: We test reported EBITDA against what the business actually produces. Add-backs, one-time items, owner compensation, revenue recognition - every adjustment documented and defensible.
Net working capital analysis: We build the peg the way it should be built, so you're not funding the seller's working capital gap after close.
Why Flying Horse
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We underwrite deals with our own capital. When we tell you what a buyer will push back on, it's because we've pushed back on it.
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Our team has held the CFO seat in lower-middle-market companies. We know the difference between a clean set of books and a set of books that looks clean.
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We don't take a success fee on your sale, and we're not incentivized to get you to a closing that isn't right for you. Our job is to make sure the financial side of the transaction is handled correctly.
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For most of our clients, this business is a life's work. That deserves more than a template and a data request list.