GovCon M&A 101: Navigating Diligence Without Losing Value
Featured Speaker

Barry Rieger, CPA
Mid Atlantic Transaction Advisory Services Leader | Partner
APRIO ADVISORY GROUP, LLC
For founders and business owners in the GovCon space, navigating your first M&A transaction can feel complex, especially when it comes to maintaining valuation through diligence. While many sellers focus on EBITDA, experienced buyers are evaluating something deeper: the sustainability, quality, and defensibility of your earnings.
This session will break down how institutional buyers assess GovCon businesses and why the greatest risk to deal value often occurs after the Letter of Intent (LOI), during the diligence phase.
During this interactive discussion, attendees will gain insight into where deals commonly face challenges, how value can erode, and most importantly, what proactive steps can be taken to stay in control of the narrative.
Join Barry Rieger as he will take a deep dive into:
- Evaluating what buyers really look for beyond EBITDA
- Spotting common diligence risks that impact valuation
- Preparing for negotiations around working capital and deal adjustments
- Taking proactive steps to protect value and maintain leverage

“Aprio" is the brand name under which Aprio, LLP, and Aprio Advisory Group, LLC (and its subsidiaries), provide professional services. LLP and Advisory (and its subsidiaries) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. LLP is a licensed independent CPA firm that provides attest services, and Advisory and its subsidiaries provide tax and business consulting services. Advisory and its subsidiaries are not licensed CPA firms.
Investment advisory services are offered through Aprio Wealth Management, LLC, an independent Securities and Exchange Commission Registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities, and past performance is not indicative of future results. Investments involve risk and are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed here.
APRIO, the Aprio pentagonal pinwheel logo and “ACCOUNT FOR ANYTHING”, are registered marks of Aprio Advisory Group, LLC. Aprio Advisory Group, LLC © 2026. All rights reserved.
