.tb-grid,.tb-grid>.block-editor-inner-blocks>.block-editor-block-list__layout{display:grid;grid-row-gap:25px;grid-column-gap:25px}.tb-grid-item{background:#d38a03;padding:30px}.tb-grid-column{flex-wrap:wrap}.tb-grid-column>*{width:100%}.tb-grid-column.tb-grid-align-top{width:100%;display:flex;align-content:flex-start}.tb-grid-column.tb-grid-align-center{width:100%;display:flex;align-content:center}.tb-grid-column.tb-grid-align-bottom{width:100%;display:flex;align-content:flex-end} .wpv-view-output[data-toolset-views-view-editor="8b497bdd4ee8cec50dcfc3a71e3f7596"] > .tb-grid-column:nth-of-type(2n + 1) { grid-column: 1 } .wpv-view-output[data-toolset-views-view-editor="8b497bdd4ee8cec50dcfc3a71e3f7596"] > .tb-grid-column:nth-of-type(2n + 2) { grid-column: 2 } .wpv-view-output[data-toolset-views-view-editor="8b497bdd4ee8cec50dcfc3a71e3f7596"] .js-wpv-loop-wrapper > .tb-grid { grid-template-columns: minmax(0, 0.5fr) minmax(0, 0.5fr);grid-auto-flow: row } .wpv-pagination-nav-links[data-toolset-views-view-pagination-block="f9f36eeef2b1aff0bf70fbf62a561a98"] { text-align: left;justify-content: flex-start; } .wpv-pagination-nav-links[data-toolset-views-view-pagination-block="f9f36eeef2b1aff0bf70fbf62a561a98"] .page-item.active span.page-link, .wpv-pagination-nav-links[data-toolset-views-view-pagination-block="f9f36eeef2b1aff0bf70fbf62a561a98"] .wpv-pagination-nav-links-item-current span.wpv-filter-pagination-link { color: rgba( 68, 68, 68, 1 );background-color: rgba( 245, 246, 248, 1 ); } .tb-button{color:#f1f1f1}.tb-button--left{text-align:left}.tb-button--center{text-align:center}.tb-button--right{text-align:right}.tb-button__link{color:inherit;cursor:pointer;display:inline-block;line-height:100%;text-decoration:none !important;text-align:center;transition:all 0.3s ease}.tb-button__link:hover,.tb-button__link:focus,.tb-button__link:visited{color:inherit}.tb-button__link:hover .tb-button__content,.tb-button__link:focus .tb-button__content,.tb-button__link:visited .tb-button__content{font-family:inherit;font-style:inherit;font-weight:inherit;letter-spacing:inherit;text-decoration:inherit;text-shadow:inherit;text-transform:inherit}.tb-button__content{vertical-align:middle;transition:all 0.3s ease}.tb-button__icon{transition:all 0.3s ease;display:inline-block;vertical-align:middle;font-style:normal !important}.tb-button__icon::before{content:attr(data-font-code);font-weight:normal !important}.tb-button__link{background-color:#444;border-radius:0.3em;font-size:1.3em;margin-bottom:0.76em;padding:0.55em 1.5em 0.55em} .tb-button[data-toolset-blocks-button="f6d557d44e6baed966be3e7b154c1be7"] { text-align: center; } .tb-button[data-toolset-blocks-button="f6d557d44e6baed966be3e7b154c1be7"] .tb-button__link { background-color: rgba( 6, 147, 227, 1 );font-size: 16px; } .tb-button[data-toolset-blocks-button="f6d557d44e6baed966be3e7b154c1be7"] .tb-button__icon { font-family: dashicons; } .tb-field[data-toolset-blocks-field="d17d946038618853ee0507c63cec5b55"] { color: rgba( 155, 155, 155, 1 );margin-top: 20px;margin-bottom: 20px; }  .tb-image{position:relative;transition:transform 0.25s ease}.wp-block-image .tb-image.aligncenter{margin-left:auto;margin-right:auto}.tb-image img{max-width:100%;height:auto;width:auto;transition:transform 0.25s ease}.tb-image .tb-image-caption-fit-to-image{display:table}.tb-image .tb-image-caption-fit-to-image .tb-image-caption{display:table-caption;caption-side:bottom} .wp-block-image.tb-image[data-toolset-blocks-image="f7927157630a28ea5241be65a7fe67c1"] { max-width: 100%; } h3.tb-heading[data-toolset-blocks-heading="e70f662907c703e6e3e00aba99f259ca"]  { font-weight: normal;text-decoration: none;text-align: center; }  h3.tb-heading[data-toolset-blocks-heading="e70f662907c703e6e3e00aba99f259ca"] a  { text-decoration: none; } @media only screen and (max-width: 781px) { .tb-grid,.tb-grid>.block-editor-inner-blocks>.block-editor-block-list__layout{display:grid;grid-row-gap:25px;grid-column-gap:25px}.tb-grid-item{background:#d38a03;padding:30px}.tb-grid-column{flex-wrap:wrap}.tb-grid-column>*{width:100%}.tb-grid-column.tb-grid-align-top{width:100%;display:flex;align-content:flex-start}.tb-grid-column.tb-grid-align-center{width:100%;display:flex;align-content:center}.tb-grid-column.tb-grid-align-bottom{width:100%;display:flex;align-content:flex-end} .wpv-view-output[data-toolset-views-view-editor="8b497bdd4ee8cec50dcfc3a71e3f7596"] > .tb-grid-column:nth-of-type(2n + 1) { grid-column: 1 } .wpv-view-output[data-toolset-views-view-editor="8b497bdd4ee8cec50dcfc3a71e3f7596"] > .tb-grid-column:nth-of-type(2n + 2) { grid-column: 2 } .wpv-view-output[data-toolset-views-view-editor="8b497bdd4ee8cec50dcfc3a71e3f7596"] .js-wpv-loop-wrapper > .tb-grid { grid-template-columns: minmax(0, 0.5fr) minmax(0, 0.5fr);grid-auto-flow: row } .tb-button{color:#f1f1f1}.tb-button--left{text-align:left}.tb-button--center{text-align:center}.tb-button--right{text-align:right}.tb-button__link{color:inherit;cursor:pointer;display:inline-block;line-height:100%;text-decoration:none !important;text-align:center;transition:all 0.3s ease}.tb-button__link:hover,.tb-button__link:focus,.tb-button__link:visited{color:inherit}.tb-button__link:hover .tb-button__content,.tb-button__link:focus .tb-button__content,.tb-button__link:visited .tb-button__content{font-family:inherit;font-style:inherit;font-weight:inherit;letter-spacing:inherit;text-decoration:inherit;text-shadow:inherit;text-transform:inherit}.tb-button__content{vertical-align:middle;transition:all 0.3s ease}.tb-button__icon{transition:all 0.3s ease;display:inline-block;vertical-align:middle;font-style:normal !important}.tb-button__icon::before{content:attr(data-font-code);font-weight:normal !important}.tb-button__link{background-color:#444;border-radius:0.3em;font-size:1.3em;margin-bottom:0.76em;padding:0.55em 1.5em 0.55em} .tb-image{position:relative;transition:transform 0.25s ease}.wp-block-image .tb-image.aligncenter{margin-left:auto;margin-right:auto}.tb-image img{max-width:100%;height:auto;width:auto;transition:transform 0.25s ease}.tb-image .tb-image-caption-fit-to-image{display:table}.tb-image .tb-image-caption-fit-to-image .tb-image-caption{display:table-caption;caption-side:bottom}  } @media only screen and (max-width: 599px) { .tb-grid,.tb-grid>.block-editor-inner-blocks>.block-editor-block-list__layout{display:grid;grid-row-gap:25px;grid-column-gap:25px}.tb-grid-item{background:#d38a03;padding:30px}.tb-grid-column{flex-wrap:wrap}.tb-grid-column>*{width:100%}.tb-grid-column.tb-grid-align-top{width:100%;display:flex;align-content:flex-start}.tb-grid-column.tb-grid-align-center{width:100%;display:flex;align-content:center}.tb-grid-column.tb-grid-align-bottom{width:100%;display:flex;align-content:flex-end} .wpv-view-output[data-toolset-views-view-editor="8b497bdd4ee8cec50dcfc3a71e3f7596"]  > .tb-grid-column:nth-of-type(1n+1) { grid-column: 1 } .wpv-view-output[data-toolset-views-view-editor="8b497bdd4ee8cec50dcfc3a71e3f7596"] .js-wpv-loop-wrapper > .tb-grid { grid-template-columns: minmax(0, 1fr);grid-auto-flow: row } .tb-button{color:#f1f1f1}.tb-button--left{text-align:left}.tb-button--center{text-align:center}.tb-button--right{text-align:right}.tb-button__link{color:inherit;cursor:pointer;display:inline-block;line-height:100%;text-decoration:none !important;text-align:center;transition:all 0.3s ease}.tb-button__link:hover,.tb-button__link:focus,.tb-button__link:visited{color:inherit}.tb-button__link:hover .tb-button__content,.tb-button__link:focus .tb-button__content,.tb-button__link:visited .tb-button__content{font-family:inherit;font-style:inherit;font-weight:inherit;letter-spacing:inherit;text-decoration:inherit;text-shadow:inherit;text-transform:inherit}.tb-button__content{vertical-align:middle;transition:all 0.3s ease}.tb-button__icon{transition:all 0.3s ease;display:inline-block;vertical-align:middle;font-style:normal !important}.tb-button__icon::before{content:attr(data-font-code);font-weight:normal !important}.tb-button__link{background-color:#444;border-radius:0.3em;font-size:1.3em;margin-bottom:0.76em;padding:0.55em 1.5em 0.55em} .tb-image{position:relative;transition:transform 0.25s ease}.wp-block-image .tb-image.aligncenter{margin-left:auto;margin-right:auto}.tb-image img{max-width:100%;height:auto;width:auto;transition:transform 0.25s ease}.tb-image .tb-image-caption-fit-to-image{display:table}.tb-image .tb-image-caption-fit-to-image .tb-image-caption{display:table-caption;caption-side:bottom}  } 

Insights

ROWC: An Effective Tool to Measure Financial Strength and Valuation for Electrical/Electronic Distributors

Buyers typically utilize a historical multiple of EBITDA to arrive at a valuation for an electronic distributor. However, a positive operating income on the Income Statement does not guarantee a high business value. A distributor’s business might look profitable (positive operating income) but may not be financially strong if cash is tied up mostly in…

Ten Factors Determining Business Value in a Sale

Business valuations in a sale are based on the interactions of several important factors. We have outlined the ten key factors to consider. Operating Cash Flow – The number one determinant in business value is income or owners operating cash flow. Generally, this includes the following: net income before interest, taxes, depreciation, amortization, excess owner…

Methods of Valuation when Selling a Business

Valuing a privately held business can seem daunting when you consider all of the possible methods of a company valuation. Outlined below we briefly discuss the most common types and which are most appropriate when selling a business in the market. Asset Value Usually only applies where the asset values exceed values based on income….

Valuations Exceed the Average for all Sectors Summary: The Electrical Wholesaling industry is highly fragmented and set for increased mergers and acquisitions as companies look for continued growth. Companies of all sizes will be potential targets, especially those with desirable product lines and advantageous locations. Electrical Wholesaling is an industry that serves the electrical equipment…

Discuss Purchase Price Allocation Early in the Negotiations

Often times the purchase price allocation is looked upon as “something the accountants do” and is one of the last items discussed prior to closing the sale of a business. However, this is a mistake as the purchase price allocation(PPA) can have a major impact on the value received and can impact the negotiation strategy…

Mergers & Acquisitions: Who are the Buyers?

Often when business owners decide to sell their business, the first type of buyer they consider are their competitors. This makes sense since competitors already know the business and industry, and they often have the most to gain from the purchase. However, competitors are not your only choice and too often they are not the…