Adrian Dayton

Yeah, that's right.

But this is also the private equity game is this kind of EBITDA arbitrage.

Because if they can buy companies at 13X, they put them all together into a bigger company and then they can sell them for 20X.

Yeah.

Yeah.

Interesting.

So it's like, and I figured all of that out like a month before the deal closed, right?

Like it took going through all the due diligence and realize like where their heads were at really on the valuations.

Yeah, around there.

This is my big learning through the process.

I had tons of ad backs that I didn't think of as EBITDA.

But once I put all those ad backs back in, I probably underpriced my company a little bit.

Oh, just like ad backs.

Like I had a company car and I had, I had extra like coaching resources that I use that didn't need to be part.

Right.

And so it's like when I started adding all these things back, you know, we're looking at like two or $300,000 of EBITDA.

And you times that by 13, it's a substantial number.

And so once I had done all the financials for them and shown them what the real number was going to be, I think they were doing cartwheels like, oh, this is better than they expected in terms of EBITDA.

Yeah, yeah.

So the way they structured the deal, it was about 70% upfront, 20% year one, 10% year two.