EPISODE 231. The team demystifies EBITDA multiple arbitrage for IT services leaders! Talking what it is, why it works, and how to capture the upside without stepping on landmines. Mike lays out the math behind buying smaller, healthy firms at lower EBITDA multiples and selling a larger, integrated platform at a higher multiple. Matt explains why scale alone isn’t enough: the winners broaden capabilities, mature processes, and move up the value chain. The crew digs into the seller’s calculus on rolling equity (hello, second bite) versus cash at close, plus real risks around dilution, culture fit, and execution. Then they get practical: what great integration looks like, where synergy is real (not imagined), and why revenue and profit velocity command premiums. They close by weighing strategic buyers versus PE-backed platforms and the questions every seller should ask before “joining the roll-up.”