Real Experience. Relentless Execution.

We bring global banking precision to the lower middle market — with a focus on what really matters.

Blackland Advisors Blog Posts

Calculating Adjusted EBITDA for Middle Market Exits

by: Chapman SymePublished on: 03/30/2026

EBITDA is the metric every serious buyer uses to value your business — but most sellers don't know how it's calculated. This guide covers add-backs, owner compensation, depreciation, and what buyers actually see. Chapman Syme from Blackland Advisors.

EBITDAadjusted EBITDAEBITDA add-backsEBITDA multiplehow to calculate EBITDAamortization in EBITDAEBITDA business valuationselling a business ebitdaEBITDA vs. SDEwhat is EBITDAEBITDA definitionEBITDA meaning businesswhat does EBITDA stand fornormalized EBITDAEBITDA vs net incomeEBITDA marginowner compensation normalization EBITDAEBITDA interest expense add-backhow is EBITDA calculated when selling a businesswhat EBITDA add-backs are allowed when selling a businesshow to normalize owner compensation in EBITDAwhy do buyers use EBITDA to value a businesswhat is the difference between EBITDA and adjusted EBITDAhow does depreciation affect EBITDAdoes EBITDA include capital expenditureshow to calculate EBITDA from tax returnwhat is a good EBITDA multiple for a small businesschapman syme
Continue Reading

Middle Market Valuation Drivers: What PE Pay Multiples On

by: Chapman SymePublished on: 07/25/2025

What separates a 4x multiple from an 8x? Five factors determine where your business lands — and most owners only control four of them. Chapman Syme from Blackland Advisors.

how to value a small businesswhat is EBITDA in business valuationhow to sell a lower middle market businessEBITDA multiples by industry 2026how to reduce customer concentration before sellingquality of earnings analysis explainedhow to prepare financials for business salewhat do private equity buyers look forseller discretionary earnings vs EBITDASDE vs. EBITDAhow to increase business valuation before sellingwhat is a good EBITDA margin for acquisitionhow to build a management team before exitbusiness valuation drivers for ownershow to calculate normalized EBITDAwhat is a quality of earnings reportEBITDAadd-backs explainedhow to know when to sell your businessprivate equity platform acquisition strategybusiness sale preparation checklistM&A advisory lower middle market Southeastchapman syme
Continue Reading

Get Started

Let's Start the Conversation

If you're exploring a sale, planning for succession, or evaluating your options — we’re here to help you think through it, privately and professionally.

No hard pitch. No obligation. Just a candid conversation about whether Blackland Advisors is the right fit for you.

We understand this is a challenging process for business owners and we know your time is important. We will tell you if we are the right fit. If not, we will provide alternatives for you.

Headquartered in Atlanta, Georgia, Blackland Advisors provides M&A and succession planning services to business owners across the Southeast.