Welcome back to the second part of our discussion with Anne and Paolo Lencioni on valuations, mergers, and acquisitions in the vet industry. As previously mentioned both Anne and Paolo are highly skilled in both accounting and veterinary science and so today we jump straight into the different types of multiples (high vs. low) the difference between selling to a corporation as opposed to staff or a third party and ways to transfer value to the buyer but walk away with cash in your pocket.