Yes. So anywhere that there's any type of medical procedure being done that requires a surgical table or a light, that's. Yeah. So that's where we, where we play in. And we have a number of different products that we offer that we can fit with any customer. So it's unlimited as to who we can work with.
Acquiring Minds
How Business-Buyer Fit Led to 2.2x and No PG
Deal story
Former medical device sales rep Joe Wynn bought an operating-room equipment sales/service distributorship in Georgia for $1.35M, leveraging supplier veto power and business-buyer fit to negotiate a 90%+ seller note at 7% over 10 years with no personal guarantee. The business does $2M revenue with ~45% margins; Joe underwrote it at a stabilized ~$600K SDE and is forecasting $3M+ revenue in his first full year.
Deal facts
Industry
Medical / operating-room equipment (surgical lights, tables, booms)
Business
Sales & service distributorship
Location
Atlanta / Georgia
Revenue
$2M (2025)
SDE / EBITDA
$889K reported SDE; ~$600K stabilized (underwritten)
Multiple
~2.25x on stabilized ~$600K SDE
Deal size
$1.35M purchase price
Acquisition model
Partnered
Outcome
Closed Jan 21; $120K down, ~90% seller note at 7% over 10 years, no PG, 3-month standby; received $150K working capital; forecasting $3-3.5M revenue for the year
People
Will Smithhost
Host of Acquiring Minds podcast
Joe Wynnguest
Former medical device sales rep, now owner of Surgical Specialties, an OR equipment sales/service business
Topics
Excerpts · 410 segments · ~1:33:42 long
Short excerpts only — hear the full conversation on the publisher's site.
05:03 Joe's medical sales background13:40 Finding the equipment business18:15 Revenue and SDE breakdown21:14 High margins and pricing power26:04 Lumpy project revenue history37:13 Purchase price negotiation57:52 Deal structure and seller note1:11:53 Bank froze account post-close
And what did the numbers of the business look like?
Yeah, so last year they did a revenue of just over 2 million in revenue. And SDE on that number last year was 889,000 for, for last year.
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We're going to turn our attention back to the kind of business itself in a few minutes. But we got to hear more about these numbers. Yeah, so 2,2 million in revenue and 889 in SDE.
Let's call it 900 to make it easy. Yeah, so those margins are eye popping. That's almost, that's almost. What is that for like 45% net margins?
Yeah.
So how is that, how is this such a profitable business?
Yeah, so the great thing with it being a distributor is that. So the distributor pays my company a commission based on the sales that we sell the equipment to facility. But then also so from a installation and service piece.
So installation we get about 90% of the installation costs. But then service is 100% of the service call because the service team is employed by me. And that's where essentially we'll get five, three service calls in a day.
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