The Salmon Index

Deal Model

Independent-sponsor acquisition model. No SBA, no personal guarantee. Change any assumption and the stack, returns, and your personal take recalculate live.

Assumptions

Entry

Entry EBITDA ($M)

Entry multiple (x)

Fees + working capital ($M)

Capital stack

Senior debt (x EBITDA)

Seller note (x EBITDA)

Your co-invest (% of equity)

Hold & exit

Hold (years)

Exit EBITDA ($M)

Debt remaining at exit ($M)

Exit multiple (x)

Your economics

Closing fee (% of EV)

Mgmt fee (% of EBITDA / yr)

Carried interest (% by MOIC band)

1x–2x

2x–3x

3x–4x

4x+

Equity MOIC

—

Equity IRR

—

Your total take

—

Your capital at risk

—

Sources & uses how the $ is assembled, no SBA

Hold & exit

Where the equity gain comes from

Waterfall tiered carried interest, then split by ownership

MOIC band	Profit	Rate	Your carry

How you make money

Path to the number

Target ($M)

Illustrative model for structuring intuition, not investment advice or a forecast. Management fee approximates 5% of average EBITDA across the hold. Carried interest is MOIC-band tiered with a return of capital first; a real deal may use an 8% preferred return with a GP catch-up instead. Deleveraging, growth, and exit multiple are your inputs, not predictions.