| | Middle Market | Lower Middle Market | Upper Main Street | Traditional Main Street | Overview
| Large Publicly Traded Companies
| Substantial Privately Held Companies
| Larger Than Main Street, Mature Companies
| Small Companies, "Moms & Pops"
| Earnings Measured in Millions, After Tax
| Small millions to 10s of millions
| $750K to small millions | Greater Than $300K
| In The Area of $100K - Expressed as Discretionary Earnings
| | P/E Ratios | 5 to 15 X Earnings
| 3 to 5 X Earnings | 2 to 4 X Discretionary Earnings
| 1 to 3 X Discretionary Earnings
| | Terms of Sale | Cash, Stock, Debit Assumption
| Same as Middle Market with some Owner Carry
| Asset Purchase, Down Payment of 1-2 Times Earnings + Sellers Note, Sometimes 3rd Party Financing | Asset Purchase, Down Payment of 50% - 100% of DE Plus a Sellers Note For The Balance | | Management | Professional With Many Layers
| Structured & Disciplined, Owner Involvement Varied
| Owner is Primary Element in Company Operations
| Owner Wears Most of the Hats |
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