We advise and invest in purpose-built companies.
We work inside your company to make it worth more.
For owners of $10M–$200M private companies who want stronger cash flow now and a higher multiple when they sell.
We find what a buyer would pay today, show you what's holding the number down, and then do the work with you to lift it.
Get an estimate of your business valueConfidential. No obligation.
Benefits
Your company is more valuable, with stronger cash flow
You exit at a higher multiple
You're prepared to act on an acquisition strategy
You're prepared to raise growth capital
What we do
Plan
Strategic positioning
Get the management team aligned on purpose, mission and vision, then build the competitive strategy that follows from it.
Diagnose · Execute
Financial reporting
Three-statement models and reporting a buyer or lender will trust. Interim and fractional CFO support when you need it.
Execute
Operational excellence
Fix the operating problems that suppress margin and make the business look risky to an outsider.
Execute
Buy-side M&A
Build the acquisition thesis, find and evaluate targets, and get the integration right after close.
Execute
Sell-side M&A
Position the company for sale and run the process, with the value work already done rather than started late.
Diagnose · Plan
Exit planning
Understand value the way a buyer sees it, then prioritize what to fix — whether the exit is next year or in five.
Other advisors hand you a report and an invoice. We diagnose, plan, and then roll up our sleeves to help you execute.
What makes this different
Rather than just a valuation number, we deliver an actionable roadmap for multiplying valuation.
Most of what determines your multiple is not in the financial statements. It is things like customer concentration, key-person dependence, the quality of your reporting, whether the business runs when you are away.
Nearly every advisor will tell you these matter. Very few will tell you what each one is worth. We quantify company specific risk factor by factor, then couple the valuation to a roadmap you can act on.
How the valuation worksCompany specific risk, quantified
Customer concentration
Key-person and owner dependence
Quality and timeliness of reporting
Recurring versus project revenue
Depth of the management team
Supplier and channel exposure
Each one priced against your base value, then ranked by what it costs to fix.
How this works in practice
A distributor with $12M in revenue and $1.8M of adjusted EBITDA. Base value at a 4.5× multiple: $8.1M.
An illustrative example. Your numbers will differ.
What we found
Cost today
Worth fixing
Top customer at 41% of revenue
−0.7× multiple
+$1.26M
Owner still runs sales and quoting
−0.5× multiple
+$0.90M
Month-end close takes 45 days
−0.3× multiple
+$0.54M
No contracts on recurring service work
−0.2× multiple
+$0.36M
Multiple moves from 4.5× to 6.2×. Value at unchanged earnings: $8.1M → $11.16M.
Then earnings follow — assumed
Effect
New figure
Product mix and pricing optimized
+10% revenue
$13.2M
Sales operation runs more efficiently
+5% revenue
$13.8M
Margin improves as the same fixes take hold
15% → 18% EBITDA
$2.48M EBITDA
Assumed for the illustration: revenue up 15% and EBITDA margin up three points. Actual results vary by company.
The two halves compound. Roughly $3.1M of the gain comes from de-risking the business at flat earnings, and the rest from earnings that rise because the same disciplines are now in place. The ranking matters: customer concentration was worth more than the other three risk factors combined, and it was also the hardest. Reporting was worth least and took ninety days. We usually start with both.
Our process
01
Diagnose
The first step to accelerating value is a proper diagnostic. We establish what the business is worth today and where the value is leaking.
02
Plan
Teams that don't know where they are going end up not going anywhere. We sequence the moves by what they're worth and what they cost.
03
Execute
Rather than hand you a report, we'll roll up our sleeves and get this done with you — alongside your management team.
Who we work with
A narrow fit, on purpose.
Our processes work best for companies large enough to have a management team — typically $10M to $200M in revenue — that control their own business model.
A FIT
NOT A FIT
A fit
Entrepreneur-owned growth companies
Not a fit
Passive-income holdings such as real estate
A fit
Family-owned businesses
Not a fit
Franchisees and dealerships bound by their agreements
A fit
Buyers looking to maximize an investment
Not a fit
Owners looking for someone to raise capital for them
A fit
Under-performing or distressed companies
Not a fit
Pre-revenue or owner-operator businesses with no team
Our vision
Our vision is of a world in which all businesses reach their fullest potential and become the best version of themselves.
A purpose-built company
A company whose management team knows what the business is for, how its capabilities meet a real need in the market, and how the work of each person serves that end. Purpose-built companies are profitable because of that clarity, not in spite of it, and they are the companies we invest in and advise.
We believe every organization performs at its best when the management team understands its purpose, mission, vision, and how its core competencies uniquely meet a market pain or need. It is only after this alignment that profit-enhancing competitive strategies can lead to success. Every Emerge Dynamics engagement is executed with this approach at its core.
In their words
"Thanks and credit given to Eric and David for their help in positioning us for sale. Eric's insight and immediate understanding of our technology business…"
Lloyd Francioni
Founding Partner, Interstate Electronic Systems
"Emerge Dynamics is thoughtful in analysis, taking the time to understand our business and making recommendations that have helped improve the enterprise value of Big…"
Austin Sherman
Founder, Big Easy Bucha
"I'd like to express my gratitude to both David and Eric for launching us on a trajectory to build value in the business and sell…"
Kevin Hostutler
President and Co-Founder, ACGI Software
2013
Advising private middle-market owners since
85+
Episodes of the Emerge Dynamics podcast, on valuation, capital and management
$10–200M
Revenue range we work in, in the US and abroad
Companies we've worked with
The Emerge Dynamics Podcast
85+ episodes for private middle-market owners and managers
David Cusimano and Eric Wingerter on valuation, capital markets, strategy and what actually moves a private company's worth.
When we invest
We also buy companies. One at a time.
We're an operating and advisory group, not a fund — no committee, no clock, no obligation to deploy. If what's on your desk fits, you'll have an answer within a week.
See our acquisition criteriaEBITDA
$500K–$2M
Sweet spot $600K–$1.2M
Enterprise value
$1.5M–$10M
Revenue $3M–$20M
Geography
Southeast
FL · GA · SC · AL · MS · LA
Timeline
LOI in 30 days
Close in 90
Our volunteer work
Fighting poverty with business.
We apply the same value-building work to entrepreneurs in Nicaragua, Uganda, and Trinidad and Tobago, where a profitable business is the most durable way out of poverty.
See the work
Start with the number.
Before any engagement, we'll give you an estimate of what your business is worth today and the two or three drivers moving it most.
We'll also tell you plainly whether our process is a fit for where you are.
Request your estimate of business value
Confidential. Or call 813-421-8962, or book a consultation.
Prefer to start on your own? Take the Value Builder assessment and we'll return our findings to you.
Take the assessmentCommon questions
What size of company do you work with?
Our processes are most effective for companies that are large enough to have a management team. In terms of revenue size this often translates to between $10M and $200M.
How can you perform well in so many different industries?
We do specialize, but we specialize in solving specific business situations. We usually won’t tell you how to make your widget better than you know how to make it. But we will help you solve situations that almost all private companies go through as they grow or try to grow.
I know I'll eventually sell, but I'm not ready. How can you help?
All business owners eventually will have the need to exit their business. Our processes help you to understand business value from the perspective of a potential buyer and what are the key drivers to business value. We then can help you to prioritize the opportunities you have to increase the value of your business and help you prepare for the exit process, whether it is contemplated in the near term or long term.
Can you help me raise money?
We don’t raise money. We do help companies with prepping to raise capital. It is critically important to have a three-statement financial model which shows cash going into the business, how it will be used, and a path to investors getting their money back. When we are able to make an introduction we will, but do this as a favor and not an engagement activity.
My business is not in the United States. Can you still help?
We have done projects in several countries. The unique nature of our process allows it to be effective in almost any culture. As long as your team has a conversational level of English, we can work with you.