AM&AA Ed|ge: Net Debt and Net Working Capital Analysis

Net Debt and Net Working Capital (NWC) are two of the most negotiated and misunderstood components of M&A transactions. When not clearly defined and analyzed, these metrics can lead to major disagreements, unexpected adjustments to purchase price, and misaligned expectations between buyers and sellers.

This session will walk through the foundational concepts and practical application of ND and NWC analysis in M&A. Jonathan Moore, Partner-in-Charge of Advisory Services at PKF O’Connor Davies, will share real-world examples, help demystify the true-up process, and offer insights into how these concepts directly impact valuation and deal outcomes.

Discussion Topics:

  • Why Net Debt and Net Working Capital matter in deal structuring

  • Typical components of ND and NWC—what to include and what to watch for

  • Negotiating Target vs. Closing NWC and understanding the true-up

  • Practical examples of debt-like items and working capital adjustments

  • Common pitfalls and best practices for optimizing outcomes

Why Join Live?

  • Learn how ND and NWC analysis affects purchase price in real-world deals

  • Gain insight into how these metrics are used to protect value for buyers and sellers

  • Explore practical frameworks for analyzing and negotiating these components

  • Ask your questions during an open Q&A with Jonathan Moore

This session is designed for private equity professionals, corporate development teams, M&A advisors, and finance leaders looking to sharpen their transaction analysis skills and ensure smoother deal execution.

Participants will earn 1.0 CPE credit in the Field of Study: Specialized Knowledge.

Additional Information

Prerequisites: Hold an academic degree (e.g. PhD, JD, MBA or Bachelor Degree); and/or one or more professional designations (such as CPA, CFA, CVGA, CEPA, or equivalent). Consideration will also be made for attendees who have private lower middle market management, owner, or advisory experience.

Advanced Preparation: None

Program Level: Intermediate

Delivery Method: Group Internet Based

Refunds and Complaint Resolution: Requests for refunds must be received in writing no later than thirty (30) days from initial program registration. No refunds will be granted for refund requests made later than thirty (30) days from initial program registration. No refunds will be granted for programs that are currently in process or completed. For more information regarding refund, complaint and program cancellation policies, please contact us at 312-856-9590.

Official National Registry: Alliance of Merger & Acquisition Advisors (AM&AA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

WHEN

Wednesday, May 21, 2025
11:00 AM - 12:00 PM

Central Time Zone

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WHERE

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CONTACT

Have a question?

info@amaaonline.com

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Featured Speakers

Jonathan Moore
Jonathan Moore
Managing Director, National Leader
PKF Advisory

This webinar is $50 for members and $100 for non-members.

You only need to have access to the internet. We recommend using either Chrome or Firefox. Additionally, good internet connectivity will ensure high-quality video conferencing. Audio for the webinar will be streamed via your computer speakers. We encourage you to test your speakers before the event to make sure everything works as it should.

You do not need to download or install any software to participate. Additionally, a webcam is also not required. 

For technical assistance, please send an email to info@amaaonline.com or click the conversation bubble on the right hand side of this page to start a live chat with an AM&AA event support representative.

AM&AA webinars take place during the Central time zone (Dallas,Texas,USA). 

You must first sign up for the webinars by clicking the blue button at the top right of this page. At that time you will be asked to create a password. Once you have finished signing up, simply click on "WEBINAR LOGIN" to join the waiting room. Live chat with other attendees will be available while you wait for the webinar to begin.

Yes. A recording of the webinar will be available on-demand 2-3 business days after the live online event.

We welcome your questions. Please email us at info@amaaonline.com

You will be able to submit questions or comments by typing them into the Q&A widget during the webinars. These questions will be answered as time allows during the Question & Answer session following the presentation.

All feedback and suggestions for future topics may be sent to info@amaaonline.com