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What really tanks car wash M&A deals after the LOI? Behind The Business hosts Chris Jenks and Jeff Pavone break down the biggest post-LOI pitfalls—from quality of earnings gaps and messy corporate allocations to over-optimistic projections that don’t survive KPI tracking. They explore real estate red flags like environmentals, lease assignments, estoppels, and encroachment risks, plus the role of specialized legal counsel and a disciplined process in keeping timelines intact. The duo also exposes financing risks on the buyer side and why out-of-market offers often can’t clear credit.

What You'll Learn

• Why weak financial discipline, four-wall vs. fully burdened confusion, and deferred maintenance hurt Q of E
• How buyers track KPIs post-LOI and re-underwrite when projections miss
• The real estate issues that blow up deals: environmental, ground leases, assignments, estoppels, and encroachment
• Why your real estate attorney may not be the right M&A lawyer—and why the buyer’s team is so deep
• How to de-risk financing failure with vetted buyers and backup bidders
• The process tools that matter: data rooms, request triage, and strict timelines
• Smart structuring: when to avoid earnouts, use seller notes, and secure deferred payments

If you’re preparing to sell, this episode is your practical playbook to move from LOI to close with confidence. #CarWashMNA #MergersAndAcquisitions #QualityOfEarnings #PrivateEquity #BehindTheBusiness

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