Acquiring Minds

Register for the webinars: 

 •Is It a Fair Multiple? The Art of Making Your Offer - Wed Jan 22 - https://bit.ly/4asGoxw
•Legal Preparation for Your Search - Thu Jan 30 - https://bit.ly/3CbswuP

Abhi Ravishankar & 3 partners devised a novel holdco structure to prioritize flexibility, cash flow, and the long term.

Topics in Abhi’s interview:

• Going from BCG partner to small business buyer
• Starting a holdco with 3 friends
• Their primary and secondary partner model
• Setting up contingency plans in their operating agreement
• Goal of spending more time with family
• Not taking on investors
• Quickly learning about potential industries
• Closing on a pool business in 6 weeks
• 4 add-ons in 18 months
• Acquiring 2 ShelfGenie franchise locations

References and how to contact Abhi:

• LinkedIn
• Twitter
• Marc Nzojibwami’s episode: The Model for a 3-way Longterm Holdco

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Mike Heath bought a garage door installer from owners who didn't use email. He grew sales fast, but profits came harder.

Topics in Michael’s interview:

• Passing on a commercial cleaning business
• Acquiring a garage door business with silent partners
• Installing an operator on day one
• Messy, unkempt books from the seller
• Hitting a cashflow crisis
• Bringing in a consultant and keeping her on full-time
• Paying off the SBA loan early
• Doubling their gross margin
• Splitting revenue across 3 partners
• Acquiring 2 pool businesses

References and how to contact Michael:

• LinkedIn
• Stateline Products of Missouri
• Florida Pool and Spa
• Pool King Recreation

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Sale-leaseback and asset-based lending enabled Carlo Santelli to acquire and own 100% of a $3.5m EBITDA manufacturer.

Topics in Carlo’s interview:

• Applying 3x to Columbia before getting in
• Leaving a finance career to buy a business
• Why he only buys proprietary, not through brokers
• Maintaining deal momentum when a seller is very busy
• The power of asset-based lending
• The power of a successful sale leaseback
• Being comfortable learning as you go
• How he thinks about risk
• Closing on 4 businesses this year
• His ambitious goal for next year

References and how to contact Carlo:

• LinkedIn
• [email protected]
• Cortina Capital Partners

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Pete Ciaverilla bought a $12m HVAC business, then grew earnings 50% in 3 years. His timing couldn't have been better.

Topics in Peter’s interview:

• Combining households with his parents while searching
• Using a buy-side advisor
• Funding less than 5% of the deal himself
• Transitioning the seller’s family out of the business
• Buying a company with 65 employees, $12M in revenue
• Advantages of buying a bigger company
• Balancing commercial and residential HVAC
• Impact of seasonality on revenue
• Why private equity likes HVAC
• Feeling comfortable with taking on a large loan

References and how to contact Peter:

• LinkedIn
• Twitter

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Michael Jacobson bought his uncle's barely-profitable 45-year-old flower shop in LA. In 4 years he's grown it 16x.

Topics in Michael’s interview:

• Revamping his uncle’s flower shop
• Replacing the overpriced phone system
• Building custom software for the floral industry
• Why flower shops are hard to run
• How “wire services” like 1-800 Flowers work
• Switching to Google Ads for better ROI
• Doubling revenue with a new website
• Operating as a digital-first brand with physical locations
• Becoming the French Florist franchise
• Why he’s not interested in private equity money

References and how to contact Michael:

• LinkedIn
• [email protected]
• French Florist

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Tim Lahey has doubled the $1.6m company he bought, and buying small has prepared him well for the next phase of growth.

Topics in Tim’s interview:

• Being inspired by Doug Cook
• Looking for a “dusty, not rusty” business
• Partnering with an M&A firm to search
• Acquiring a home technology company
• Getting bitten on a cashflow crunch
• Handling customer complaints as the owner
• Culture of small businesses
• Changing too much too fast
• Listening for what customers want
• Challenges of buying small

References and how to contact Tim:

• LinkedIn
• [email protected]
• r:home
• The Trusted Advisor

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Nick Molina on how he found, acquired, & plans to manage a 275-employee business in Minneapolis from his home in Miami.

Topics in Nick’s interview:

• Taking his first company public in 1998
• His unwillingness to retire
• The tremendous cost of start-ups
• Which state he won’t do business in
• Buying a business he doesn’t have to operate
• Importance of listening in sales
• Living in Miami while owning a business in Minneapolis
• What makes a good property management business
• Using a loan broker 
• Appeal of keeping a business in his family

References and how to contact Nick:

• LinkedIn
• Twitter
• [email protected]
• Endangered Investments

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

After buying then exiting a 12-unit franchise portfolio, Alicia Miller became expert on how to attract private equity.

Topics in Alicia’s interview:

• Leaving her corporate career to buy a franchise
• Acquiring a portfolio of Sylvan Learning Centers
• Turning around unprofitable locations
• Her tips for negotiating an acquisition
• How private equity has impacted franchising
• Acquiring existing franchise locations vs. de novo development
• Which brands attract private equity and why
• New brands that are disrupting their industries
• Why Subway has value despite closing locations
• How emerging franchise brands change as they grow

References and how to contact Alicia:

• LinkedIn
• Big Money In Franchising by Alicia Miller

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Dismissed by brokers, Simon Plummer bought & grew a manufacturer 75% in 3 years. Today he's building a long-term holdco.

Topics in Simon’s interview:

• Creating the “BizBuySell” of Australia
• Buying a manufacturing business
• Difficulty of acquisition in Australia
• Running the machines himself for 18 months
• Learning from his cashflow mistakes
• Launching their brand in the UK, US, and Canada
• How a bricklaying YouTuber skyrocketed sales
• Finding and hiring a CEO
• Anxiety of owning a small business
• Building a long-term holding company

References and how to contact Simon:

• LinkedIn
• Arbor Permanent Owners
• BT Engineering USA
• BT Engineering Australia
• Rowan Grant
• Jason Andrew

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Josh Key partnered with a master plumber from his church to acquire a plumbing business doing $1.25m. It ended badly.

Topics in Josh’s interview:

• Buying a plumbing business with a partner
• Quitting his job to go all-in
• Inadequate due diligence on his partner
• His partner’s wife getting involved in the business
• Emotional outbursts and threats from his partner
• Employees and clients leaving due to the partner
• Closing the business and filing for bankruptcy
• What he learned about due diligence
• How his mindset is guided by his faith
• What he wants to do next

References and how to contact Josh:

• [email protected]
• LinkedIn

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Tom & Dawson Matter bought a vent cleaning business operating out of a parking lot. The transition has been interesting.

Topics in Tom and Dawson’s interview:

• Teaming up to acquire Pro Duct Cleaning
• The nocturnal, detailed, messy nature of the work
• Tom keeping his W-2 while Dawson runs operations
• Maintaining a 42% margin
• Learning to deal with angry customers
• Upgrading the equipment and facilities
• Hiring Dawson’s wife to help with operations
• Switching from Google Calendar to a real CRM
• Trouble communicating with employees
• Chasing down payment from clients

References and how to contact Tom and Dawson:

• Pro Duct Cleaning
• [email protected]
• Dan Tagliatela on Acquiring Minds: Reward for a Brutal Transition: $760k EBITDA on 3 Hours/Week
• George Vallone on Acquiring Minds: When Buying Small Goes Right (3x Growth)

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinar:

• Where Searchers Go Wrong, Part 2 - Thu Dec 12 - https://bit.ly/3VtCvC1

Fred McGill liked the trades and zeroed in on electrical. The $3.2m business he bought is likely to grow 25% in year 1.

Topics in Fred’s interview:

• Founding a real estate start-up
• Comparing rental income to small business
• Acquiring an electrical company
• Reassuring employees during transition
• Learning how to hire electricians
• Compensation in the electrical industry
• Growth through digital marketing
• Miscalculating working capital
• Importance of making the phone ring
• Helping searchers through Blue Collar Advisory

References and how to contact Fred:

• LinkedIn
• Twitter
• Bray Electrical Services
• [email protected]

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinar:

• Where Searchers Go Wrong, Part 2 - Thu Dec 12 - https://bit.ly/4igqBVQ

Jordan Dubin and his partners are rolling up a home services industry. They blew by their 5-year goal in the first year.

Topics in Jordan’s interview:

• Partnering with his 2 friends
• Hand writing 200 letters to potential sellers
• Building a platform of garage door businesses
• Maintaining local brands
• Why private equity hasn’t picked over the industry yet
• How they chose the garage door market
• Building trust through honesty
• Hitting $20 million EBITDA in the first year
• Beachhead and tuck-in strategies
• The role of timing in acquisition success

References and how to contact Jordan:

• LinkedIn
• Guild Garage Group

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinar:

• Where Searchers Go Wrong, Part 2 - Thu Dec 12 - https://bit.ly/41ivxUl

Fragmentation & an enormous TAM drew Jonathon Tupper to buy a 30-year-old business in the asset-based lending industry.

Topics in Jonathon’s interview:

• Moving from politics to investment management
• Importance of liquidity
• Factoring: a form of asset-based lending
• What kinds of businesses benefit from factoring
• Buying a factoring business
• Acquiring without an SBA loan
• Paying 2x EBITDA
• Competing with banks and other lenders
• Running a Houston business from Southern California
• Challenge of hiring good employees

References and how to contact Jonathon:

• LinkedIn
• Jobe Services Inc.
• [email protected] 

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinar:

 • Where Searchers Go Wrong, Part 2 - Thu Dec 12 - https://bit.ly/4f0320C

Michael Johnson started searching in April. Today he's having the time of his life as owner of a $1.2m printing business.

Topics in Michael’s interview:

• Marine Corps experience in Iraq
• Acquiring a vending machine
• Frustration with his W-2 job
• Acquiring a SpeedPro location
• Ups and downs of negotiation and funding
• Frustrating first day as owner
• High demand for printing car wraps
• Empowering employees to be autonomous
• Hiring his wife to work in the business
• What he loves about the franchise model

References and how to contact Michael:

• LinkedIn
• The one-pager Michael used during outreach
• SpeedPro NW Raleigh
• Dominick Blue on Acquiring Minds: Buying & Growing a Business While Keeping a Day Job
• Jesse Safir on Acquiring Minds: Surviving the Nightmare: Sales Plunge 95%
• Dan Verboski on Acquiring Minds: Candid Reflections on 7 Years of SMB Ownership
• Jarett Berke on Acquiring Minds: When a Restaurant is a Great Business to Buy
• Adam Markley on Acquiring Minds: Getting Reps: Helping Others Look at Deals Led to a Holdco

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Link Moser built a nearly-passive business portfolio by acquiring tiny web design & hosting shops on favorable terms.

Topics in Link’s interview:

• Learning to build websites in the 90’s
• Starting a web design/hosting business
• Sending out letters to target businesses
• Acquiring other digital marketing agencies nearby
• Integrating the businesses he bought
• Customer attrition rates during transition
• Getting bored with passive income
• Considering buying a traditional, non-digital business 
• Willingness to sell his own business
• Pros and cons of remote work

References and how to contact Link:

• LinkedIn
• Windhill Design

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Derek Croft bought a $1m SDE business with a national footprint in an unusual niche. Just don't call him The Lice King.

Topics in Derek’s interview:

• Leaving Bain to search for a business
• Acquiring LiceDoctors
• Why it’s good for a profitable business to be imperfect 
• Personal satisfaction from helping customers
• Payroll emergency on day 2
• Competition in the lice removal industry
• High staff turnover despite good pay
• Speeding up their response time
• Raising public awareness of their service
• His goal to double in 5 years

References and how to contact Derek:

• LinkedIn
• LiceDoctors
• ETA Circle

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

 • Understanding the Waterfall - Thu Nov 21 - https://bit.ly/3AMj6Fk

Francisco Del Rio & Diego Silva are 5 acquisitions into a venture to consolidate veterinary practices in Chile & beyond.

Topics in Francisco & Diego’s interview:

• Vetting each other before partnering
• Teaming up to roll up vet clinics in Chile
• Pitching themselves to clinic owners
• Searching during strict Covid lockdowns
• Educating owners about business valuation
• Understanding the seller’s perspective
• Making variable compensation work
• Teaching receptionists to use sales scripts
• Finding investors and growing the business
• Vision to expand to neighboring countries

References and how to contact Francisco & Diego:

• Diego Silva LinkedIn
• [email protected]
• Francisco del Rio LinkedIn 
• [email protected] 
• Latam Vet

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars: 

• Where Searchers Go Wrong - Thu Nov 14 - https://bit.ly/3O0im2a

• Legal Office Hours: Understanding the Waterfall - Thu Nov 21 - https://bit.ly/3O3zqo2

Sam Rosati & partners built the Sunbelt's largest commercial fencing contractor in 3 years. But the origins were modest.

Topics in Sam’s interview:

• His background in accounting and law
• Being inspired by Chenmark and Brent Beshore
• Acquiring Alpha Dumpsters with his brother
• Birth of SMBash
• Origin story of SMB Law
• How an independent sponsor differs from a self-funded searcher
• Investing in a commercial fencing business
• The role of luck in success
• Acquiring and consolidating fence businesses 
• Partnering with private equity

References and how to contact Sam:

• LinkedIn
• Twitter
• SMBootcamp
• Chandler Reed on Acquiring Minds: Boom, Bust, Boom: Buying a Whiplash Business
• John Hubbard on Acquiring Minds: Why Buy a Small Manufacturing Business? and Time to Sell? Growing EBITDA from $750k to $2m 

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Where Searchers Go Wrong - Thu  Nov. 14 - https://bit.ly/40HZtZK

• Legal Office Hours: Understanding the Waterfall - Thu Nov 24 - https://bit.ly/4hEzVTh

The story behind "Rick & Royce", who've probably done more to grow entrepreneurship through acquisition than anyone.

Topics in Rick and Royce’s interview:

• How they met in academia
• Growth of their ETA class at Harvard
• Unexpected success of their book
• Satisfaction of changing students’ lives
• Thoughts on their sons searching for businesses
• Partner/family perspectives on search
• Value of learning about failed acquisitions
• How attitudes about small business have transformed
• Using their podcast to educate about small business
• Thoughts on pursuing wealth

References and how to contact Rick and Royce:

• The book: HBR Guide to Buying a Small Business
• The podcast: Think Big, Buy Small
  
  

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

When he realized he was willing to do the work himself, Matthew Railla bought a $500k SDE termite inspection business.

Topics in Matt’s interview:

• His family’s culture of entrepreneurship
• His background running a winery
• Becoming a business broker
• Buying his own listing
• Buying a tough-to-sell business 
• Getting an SBA loan using the new partial buyout rules
• Crawling under houses himself to learn the trade
• Seller agreeing to teach him for 2 years
• The 3 branches of pest control
• His plan to expand the business

References and how to contact Matt:

• LinkedIn
• [email protected]
• https://www.toptermiteco.com

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Iris Levine bought a 30-year-old construction firm just steps from the rough Nashville neighborhood where she grew up.

Topics in Iris’s interview:

• Working 3 jobs to pay for college
• Background in high-growth startups
• Forming her own acquisition mastermind group
• Finding an unlisted business through a broker
• Buying a porch construction company
• Putting 5% down without outside investors
• Choosing to forego a quality of earnings
• Adding technology for project management
• Motivation to find work-life flexibility
• Possibility of expanding their offerings

References and how to contact Iris:

• LinkedIn
• Episode #233 with Alan Lochridge

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinar: 

• How to Run a 2-Year Search in 2 Months - Nov 1 - https://bit.ly/48sjkh9

Seattle-based Dan Drake & his wife wanted to raise their kids in Bend, Oregon. Buying a business allowed them to do it.

Topics in Dan’s interview:

• His search in Bend, Oregon
• Understanding negotiation tactics
• Bundling the real estate with the business
• His seller-financed deal
• Renegotiating after sales dipped 20%
• Pros and cons of having experienced staff
• Explaining balloon payments
• Giving back to Central Oregon
• Meeting with top customers to understand their needs
• Improving inventory management and website

References and how to contact Dan:

• LinkedIn
• Industrial Applied Electric
• Negotiate Without Fear by Dr. Victoria Medvec

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinar:

• How to Run a 2-Year Search in 2 Months - Friday, Nov 1 - https://bit.ly/3YEN9YE

When, at age 29, Gat Caperton bought a furniture maker in his native West Virginia, he was also buying himself a career.

Topics in Gat’s interview:

• Working for the legendary Sam Zell
• Acquiring a furniture manufacturer in 1996
• You’re better off with smart competitors than dumb competitors
• Cutting his lead time in half the first year
• Implementing lean manufacturing
• Owning the business with his dad
• China devastated US furniture manufacturing
• Joining John Bassett to sue China for breaking trade laws
• The evolution of “Made in America”
• How to evaluate a furniture manufacturer

References and how to contact Gat:

• LinkedIn
• Gat Creek
• Factory Man by Beth Macy
• The Goal by Eliyahu Goldratt and Jeff Cox

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3UihUQG

• How to Run a 2-Year Search in 2 Months - Friday Nov 1 - https://bit.ly/3UfYJqz

Nik Hulewsky bought a $3.2m medical billing company during peak Covid, anticipating a surge in demand. He was right.

Topics in Nik’s interview:

• Tragedy that ignited his passion for hospice
• Losing his job while his wife was in labor
• Searching for a business to fit his skillset
• Industry is more important than business
• Margins in home health
• Calculating return on brain damage
• Learning firsthand about the J curve
• Importance of relationship with the seller
• Being in business with his brother-in-law
• Advice for young entrepreneurs

References and how to contact Nik:

• Twitter
• Cofounders.com
• Nikonomics

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected] (and tell him you’re a searcher)

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/4dR5CWq

• How to Run a 2-Year Search in 2 Months - Friday Nov 1 - https://bit.ly/4dQifkn

Kristiana Laugen left tech to buy a 40-year-old pool business with $300k SDE. Fast growth from a small base is the plan.

Topics in Kristiana’s interview:

• Her career working for start-ups
• Her desire to “eat what she kills”
• Finding a business sooner than expected
• Acquiring a commercial pool maintenance/repair business
• How commercial pool maintenance differs from residential
• Quickly firing all but one technician
• Making changes in the first 90 days
• Seller retained 5% equity
• Using an app for routing efficiency
• The numbers game of hiring

References and how to contact Kristiana:

• LinkedIn
• [email protected]
• Twitter
• RD Pools, Spas & Fountains

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinar:

• Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3zTykbc

Tech industry vet Eric Bauer wanted to build something for himself. Buying a hat brand across the country was the path.

Topics in Eric’s interview:

• Skills he acquired during 10 years at Amazon
• Moving from Seattle to Alabama to buy a business
• Red flags in business listings
• Comparing BizBuySell and Axial for business search
• Acquiring a hat distributor
• Solving problems with hat sizing
• Learning how to motivate his staff
• Hiring difficulties
• Inventory management complexities
• Self-confidence as a business owner

References and how to contact Eric:

• [email protected]
• LinkedIn

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Due Diligence Office Hours - Wed Oct 16 - https://bit.ly/4h3R74o

• Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3zT8sMA

Justin Willess liquidated his 401k to buy a $8.5m construction business. He lost the business and may lose his house.

Topics in Justin’s interview:

• Frustration with his consulting career
• Buying a construction company
• Construction landscape in Northern Virginia
• Discovering cooked books after transition
• Seller refused to release promised funds
• Emptying his 401k to make payroll
• Calm is contagious
• Closing the business
• What he learned from the failed acquisition
• Why he wants to acquire again

References and how to contact Justin:

• LinkedIn
• [email protected]

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/3TYdVZ8

• Due Diligence Office Hours - Wed Oct 16 - https://bit.ly/3BznZl0

As a banker Greg Bruns dealt with business owners, wanting what they had. When a friend bought a business, he saw a way.

Topics in Greg’s interview:

• Leaving his banking career to buy a business
• Big risks of doing an asset sale
• How ownership is different than expected
• Risks and benefits to buying small
• Why erosion control matters to infrastructure
• Being tied to the construction industry
• Managing cashflow in a project-based business
• How weather affects his bottom line
• Involving his employees in business decisions
• The good/bad of keeping the seller in the business

References and how to contact Greg:

• LinkedIn
• Twitter
• [email protected]
• Allied Hydromulch

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/47TzaBc

Marc Nzojibwami and 2 partners bought a business in Calgary, with a plan to keep buying (and without investor capital).

Topics in Marc’s interview:

• Early attempts at launching companies in university
• Acquiring with 2 partners
• Their plan to build a holdco together
• Acquiring a 40 year old sign shop
• Financing their deal in Canada
• Negotiating purchase price and seller note
• One change they made immediately
• Growing EBITDA 30% the first year
• Challenges and benefits of partnerships
• Searching full-time for his next acquisition

References and how to contact Marc:

• LinkedIn
• [email protected]
• ABL Imaging Group

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/4gQqKP5

Taylor Wallace & Tyler O'Connor return to discuss selling to private equity & the painful reality of managing people.

Topics in Taylor’s interview:

• Evaluating the risk/reward of selling to private equity
• Selling to private equity but not exiting
• Good PE vs. bad PE
• Transition to a corporate structure
• Comparing outcomes with tech startups

References and how to contact Taylor:

• Twitter
• LinkedIn
• Taylor Wallace’s original Acquiring Minds interview: Buying Doggy Daycares After 10 Years in Tech

Topics in Tyler’s interview:

• Comparing his military service with business ownership
• Unexpected hospitality aspect of the business
• Being both CEO and the sales department
• Delegating more to his general manager
• Working capital in a seasonal business

References and how to contact Tyler:

• Tyler O’Connor’s original Acquiring Minds interview: Using $100k to Buy a 7-Figure Dream Business
• SMBootcamp
• Bird Golf Academy

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

George Tibil & Keith Fields bought a $1.1m janitorial business with falling revenues. 9 months later, sales are up 60%.

Topics in George and Keith’s interview:

• Their dissatisfaction with the corporate ladder
• Calling on Acquiring Minds guests for search advice
• Acquiring a ServiceMaster Clean franchise location
• What changed their minds about franchises
• Firing their first employee before taking ownership
• Cleaning all night when business was understaffed
• Managing an immigrant-heavy workforce
• Turning the culture around
• 40% growth without outbound sales
• Power of good partnerships

References and how to contact George and Keith:

• ServiceMaster Clean Buffalo
• George Tibil LinkedIn
• George Tibil Twitter
• Keith Fields on LinkedIn

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4dhSAAX

• How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3MU6hLu

Dustin Fusillo bought a struggling ATM parts & services business. Unhappily, the decline continued under his ownership.

Topics in Dustin’s interview:

• Starting a private school in Florida
• Personal growth after divorce
• Losing money in 3 business ventures
• Reaching out to successful people for advice
• Backing out of a bad deal after selling his home and moving
• Buying a turnaround ATM business
• Liquidating inventory to a competitor
• Learning to manage anxiety and anger
• Importance of an industry-specific accountant
• His current role as a P&L manager

References and how to contact Dustin:

• LinkedIn
• Twitter

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4grubvD

• How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3zgUbJr

Corey Robinson bought 4 locations in the legacy franchise Batteries Plus. He quickly bought 8 more, growing to $10m/yr.

Topics in Corey interview:

• Leaving the security of his corporate job
• What he likes about Batteries Plus
• Buying an expansion location for $100k cash
• Changing the culture at one location
• Remotely managing Texan teams from Iowa
• An HVAC acquisition that went poorly
• What he learned about making big changes
• Operating an independent business compared to a franchise
• The toll it took to spread himself over multiple industries
• His current role as an investor in small business acquisitions

References and how to contact Corey:

• Webinar cited in the intro: How (and Why) to Choose a Franchise as an Acquisition Entrepreneur
• LinkedIn
• Instagram
• Batteries Plus
• Brian Beers Acquiring Minds interview

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/3B2oF29

• How Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4e4FWpV

• Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4emLEn1

• How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3ZrbCl1

It was a revelation when Brittney Orellano heard about buying businesses. 6 months later, she'd done it herself.

Topics in Brittney’s interview:

• Running a property management business while acquiring
• Winning over the employees after transition
• Unexpected costs of maintaining equipment
• Cashflow problems led to layoffs in off-season
• Getting used to project-based revenue
• Putting an extra out-of-pocket $30k into the business
• Using local service ads on Google through slow season
• Being inspired by Codie Sanchez and Tommy Mello
• Comparing startups with acquired businesses
• Owning and operating a business with her husband

References and how to contact Brittney:

• LinkedIn
• [email protected]
• Tommy Mello
• Codie Sanchez

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/4d27MSA

• How Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4gk4XPH

• Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/3zl0H1w

• How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3TuzvEG

Rory Tyer bought the nursery where he'd been a loyal customer. Today it generates not just cash for him, but peace.

Topics in Rory’s interview:

• Searching by driving around
• Advantage of buying in a high-growth area
• Buying a business his kids would be proud of
• Getting a “screaming deal” on a garden center
• Negotiating an unlisted deal
• Explaining deal structure to a seller
• Challenges of staffing a business with seasonality
• Decision to stay closed on Sundays
• Insurance costs tripling after acquisition
• Gardening as the antidote to screen fatigue

References and how to contact Rory:

• Twitter
• LinkedIn
• [email protected] 
• South Pleasantburg Nursery

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Thu Sept 12 - How Big a Business Should You Buy? - https://bit.ly/3XmtR8v

• Thu Sept 19 - Due Diligence Office Hours - https://bit.ly/4ghprZb

• Fri Sept 20 - How Much to Budget for a Self-Funded Search - https://bit.ly/4e1Qjeq

Acquiring a $2.5m pallet manufacturer was Michael Kelker's first step to building a legacy business for his family.

Topics in Michael’s interview:

• Self-funded vs. traditional vs. independent sponsorship
• Carrying on his family legacy in manufacturing
• His goal of having control over his work
• Acquiring a custom pallet manufacturer
• Getting the deal done during Covid
• Challenges with the appraisal
• Navigating the lumber price surge
• Hiring a banker as CFO
• Learning from his employees and customers
• Optimism despite pallet industry downturn

References and how to contact Michael:

• LinkedIn
• [email protected]
• GBR Riverdale

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, How Big a Business Should You Buy?

• https://bit.ly/4cSC6is

Topics in Jackson’s interview:

• Fulfilling his dream of living on the beach
• Transitioning from real estate to restaurants
• Buying a nostalgic restaurant with his friend
• Unique aspects of owning a business in a tourist town
• Cashflow advantage in restaurants
• Lack of competition for acquiring restaurants
• Finding and installing an experienced operator
• Evaluating a restaurant’s potential
• Acquiring a second restaurant with 4 locations
• Investing in equipment and technology that increases sales

References and how to contact Jackson:

• Cowboy Group
• Jackson Speaks Twitter
• Jackson Speak's LinkedIn
• Pizza by the Sea
• Cowgirl Kitchen

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, How Big a Business Should You Buy?

• https://bit.ly/4dPunmC

Without backgrounds in business, Julie & Janna Hottinger have grown the $2.1m trades business they bought last year 50%.

Topics in Julie and Janna’s interview:

• Being warned away from the asphalt industry
• Sisters who bought a construction business
• How the seller worked to ease the transition
• Acquiring with no prior business experience
• Slowly taking the all-paper business digital
• Cash flow challenges as a subcontractor
• Building trust with the existing team
• Growing revenue by hiring more employees
• How Covid affected commercial business spaces
• Why industry trends aren’t always accurate

References and how to contact Julie and Janna:

• Janna’s LinkedIn
• Janna Twitter
• Julie’s LinkedIn
• Julie Twitter
• [email protected]
• [email protected]
• Signature Woodworking

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

An engineer at heart, Mike Dey set his sights on buying a manufacturing business for the next stage of his career.

Topics in Michael’s interview:

• Pivoting from aerospace engineering to business ownership
• Selling his real estate investment to buy a business
• Beware turning your passion into your income
• Buying a business in his 40’s
• How risky is business ownership?
• The risk build-up model of valuing a business
• Saying no to a friend’s investment
• Buying a business bundled with real estate
• Managing a blue collar workforce
• Having to suddenly switch lenders

References and how to contact Michael:

• LinkedIn
• Twitter
• American Spray Technologies

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, Legal Office Hours: Common Legal Diligence Issues

• https://bit.ly/4dWmPxV

After 5 years of owning a scale business, Matt Bauer & Chris Hartman were burning out. Fortunately they'd created value.

Topics in Matt and Chris’s interview:

• Two military buddies bought a scale business
• Demanding grind of the industry
• Downside of providing a mission-critical service
• Building a sales team to grow the business
• Challenges in training technicians
• Attempting to acquire a competitor
• Doubling earnings in 5 years
• Deciding it was time to sell
• Their 8-figure exit
• Investing in a port-a-potty startup

References and how to contact Matt and Chris:

• Matt Bauer LinkedIn
• Chris Hartman LinkedIn
• Chris Hartman Twitter
• 12 South Capital Partners

----- SPONSORS -----

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

----- Connect with Acquiring Minds -----

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, Legal Office Hours: Common Legal Diligence Issues

• https://bit.ly/3ySUJ7R

Topics in Meredith & Michael’s interview:

• Buying an employment screening company
• The seller staying on as an employee
• Strict industry regulations serve as a moat
• Upgrading technology after acquisition
• How the seller eased clients through the transition
• Why they’re not worried about AI
• Meredith’s growth as a manager
• Buying a business as a young couple
• Why this may be a difficult industry to roll up
• Personal impact of owning a business

References and how to contact Meredith & Michael:

• Meredith LinkedIn
• Michael LinkedIn
• Meredith Twitter
• Michael Twitter
• BackgroundConnect

----- SPONSORS -----

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

• M&A Launchpad Conference & enter code ACQUIRINGMINDS

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

----- Connect with Acquiring Minds -----

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, Legal Office Hours: Common Legal Diligence Issues

• https://bit.ly/3YQP2lp

Niklas James, Adam Borcz, and Tony Cappeart reflect on terms, risk & reward of the still-young self-funded search model.

Topics in Search Investor Roundtable:

• White collar buyers of blue collar businesses
• Desirable traits for searchers
• Balancing investor returns and personal gains
• 3 common modeling mistakes
• Role of put options in deals
• How searchers sabotage their own deals
• Realistic expectations for business growth
• Hope is not a strategy
• Operational experience trumps finance knowledge
• Self-funded search terms

References and how to contact panelists:

• Niklas James LinkedIn
• Adam Borcz LinkedIn
• Tony Cappaert LinkedIn
• Adam Borcz’s Acquiring Minds interview
• Niklas James’s Acquiring Minds interview

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, Legal Office Hours: Common Legal Diligence Issues

• https://bit.ly/46OH4LN

Ryan Sullivan's group is buying businesses with investor capital, SBA loans & operating partners — but it's not a fund.

Topics in Ryan’s interview:

• “Moneyball approach” to buying businesses
• Making a career change at 48
• Why it’s hard to find a good business
• Buying and holding manufacturing businesses
• Operating a holdco with 5 partners
• Generating returns from cash flows, not exits
• How soon to make changes (and exceptions)
• What he loves about having partners
• Funding deals one at a time
• Moving a business and retaining 100% of staff

References and how to contact Ryan:

• LinkedIn
• North Park Group

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

3 top players in SBA lending to the searcher ecosystem discuss what they're seeing in the market as of summer 2024.

Topics in SBA Lender Roundtable:

• Role of personal guarantee in SBA loan
• Why valuations remain high
• Rising amount of equity in deals
• How to find the right lender
• Industries: what’s hot, what’s not
• Financing for fast-growth businesses
• Increase in forgivable seller notes
• More re-trading in recent years
• Importance of buyer-seller trust
• SBA rule changes and their impact

References and how to contact panelists:

• Lisa Forrest LinkedIn
• Lisa Forrest Twitter
• Lisa's weekly office hours on Wednesdays & Thursdays
• Matt Dolsky LinkedIn
• Brad Hettich LinkedIn

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Gabe Perez sought a way out of corporate while Kristen sought a way back to working. Buying a $4m business offered both.

Topics in Gabe and Kristen's interview:

• The role Acquiring Minds played in their acquisition
• Acquiring a cold storage manufacturer
• Paying a premium for a growing company
• Buying a business three hours away
• Risks of taking on big projects
• Implementing video conferencing 
• Impact of business ownership on their family
• Keeping business and family time separate
• Getting his lender comfortable with the business’s cyclicality
• Their goal of creating a great workplace

References and how to contact Gabe & Kristen:

• Gabe’s LinkedIn
• Kristen’s LinkedIn
• [email protected]
• Refrigerated Structures of New England
• New Majority Capital
• Christian Bateson’s episode

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Will Gano was rewarded for his persistence & vision when he bought an 8-figure, 125-year-old ingredients manufacturer.

Topics in Will Gano’s interview:

• Getting experience in the food industry
• Doing outreach while working full time
• Hiring a buy-side broker to search for him
• Going through years of “search purgatory”
• Writing a personal letter with his LOI
• Buying a food ingredient manufacturer
• The upside of losing a major client before the transaction
• Importance of food safety
• Jumping through hoops for licensing
• Influence from his late grandfather

References and how to contact Will Gano:

• LinkedIn
• Bear Stewart
• Calder Capital

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Rob Carpenter was eager to start operating, so it only took 90 days to start searching then buy a $200k SDE business.

Topics in Rob’s interview:

• His background in AI and software development
• His desire for a lower-stress lifestyle
• Prioritizing speed in his business search
• Changing his mind about franchises
• Buying 3 Merry Maids territories
• Digitizing processes in the business
• How labor turnover affects customer turnover
• Benefits of a negative cash cycle
• Comparing startup culture with running a small business
• Possibilities of bolt-ons in the future

References and how to contact Rob:

• [email protected]
• LinkedIn
• Merry Maids

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Years after one venture ended in failure, Jeff Velker bought a $2.5m pen maker with a strong brand & devoted customers.

Topics in Jeff’s interview:

• His experience as a franchisee
• Bankruptcy after the 2008 crash
• The difference between buying a job and owning a business
• Losing his favorite pen led him to a pen company
• Appeal of pens in our digital age
• Acquiring with 2 partners
• Negotiating with a seller who won’t go lower
• Getting buy-in from spouses
• The risks of having his manufacturer in Taiwan
• His goal of $10M in 10 years

References and how to contact Jeff:

• LinkedIn
• [email protected]
• Retro 51

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Jordan Evans left tech & bought a tiny, decades-old language services business. 6 years later, revenue is 17x larger.

Topics in Jordan’s interview:

• Acquiring his parents’ language services business
• Spending 2 years preparing the deal
• Overpaying for a 180k SDE business
• Doubling the businesses through organic growth
• Pros and cons of seller notes
• “We’re buying a bucket of people and problems”
• Bolting on language companies as a growth strategy
• How fast they integrate newly acquired businesses
• Opportunities for white-collar rollups
• Growing from 4 to 42 employees

References and how to contact Jordan:

• LinkedIn
• Twitter
• Language Network
• Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential by Greg Crabtree

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinar:

• How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4fa3CKB

Brett Kennedy has doubled & strengthened the sub-$1 million moving business he bought — but it hasn't been without pain.

Topics in Brett’s interview:

• Being raised in an entrepreneurial family
• Buying Furniture Taxi, a moving company
• Driving the truck himself when employees don’t show
• Surprises the seller failed to mention
• Good and bad of buying small
• Daily stressors of running a small business
• Hiring a GM
• Doubling the business despite a shrinking market
• Your employees are your customers
•  The next company he wants to buy

References and how to contact Brett:

• LinkedIn
• Adrian Pinto’s episode
• Atlanta’s Furniture Taxi

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinar:

• How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3WwZqNR

When Dustin Carreon reached a ceiling in his first small business, he used the profits to start buying other businesses.

Topics in Dustin’s interview:

• Growing up in his parents’ scrapping business
• Inheriting and growing Freelance Electronics
• Learning the most from a difficult acquisition
• Timing and luck matters
• Key person risk in small-staff businesses
• His mistake of expanding before establishing expectations
• Cross-training employees as part of his holdco vision
• An investor attitude compared with an entrepreneur attitude
• Building a holdco without a college education
• Challenge of writing down processes

References and how to contact Dustin:

• LinkedIn
• Twitter
• COI Holdings

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Search Investor Roundtable: State of the Market - https://bit.ly/4cvUOwV

• Overcoming Common Deal Sticking Points - https://bit.ly/4cD9z17

• How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3LpQEuK

How Adam Markley evaluated thousands of businesses for sale and bought a handful of his own (6 in his portfolio today).

Topics in Adam’s interview:

• Using online courses to teach business acquisition
• SBA loans vs. seller notes
• Raising your potential with partnerships
• His holdco of 6 diverse companies
• How acquisitions in the UK and US differ
• Power of personalized outreach
• 2 main tracks to business acquisition
• An operating partner who emptied the bank accounts
• Working in a medical staffing agency before buying it
• Looking at both on and off-market businesses

References and how to contact Adam:

• LinkedIn
• Twitter
• [email protected]
• PROX Capital Group
• Adam’s fractional CFO firm, Veracity CFO
• Tato Corcoran’s episode

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Search Investor Roundtable: State of the Market - https://bit.ly/4cCMyuZ

• Overcoming Common Deal Sticking Points - https://bit.ly/3LkCpr3

• How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4f2hCGc

Nick Haschka & Dillan Ferguson are 5 months and 2 acquisitions into a roll-up targeting $50-60m revenue in 5 years.

Topics in Nick and Dillan interview:

• How Nick and Dillan met on Twitter
• The future of reliance on generators
• Serving both residential and commercial customers
• Separating the business into service and installation teams
• Doubling the number of employees
• Atmospheric river caused a crisis 3 weeks after acquisition
• Being a leader is different than being an employer
• Developing their own software
• Where they find their technicians
• Comparing the risk of an asset purchase and a stock purchase

References and how to contact Nick and Dillan:

• Nick Haschka Twitter
• Nick Haschka LinkedIn
• Dillan Ferguson Twitter
• Dillan Ferguson LinkedIn
• OnPoint Generators

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• SBA Lender Roundtable: State of the Market - https://bit.ly/4bydwTe

• Due Diligence Office Hours - https://bit.ly/3WbVpxT

• Search Investor Roundtable: State of the Market - https://bit.ly/45SWMEY

• Purchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4eQ7z79

How Dominick Blue bought an air duct cleaning business and took it into HVAC services, all while retaining his W-2.

Topics in Dominick’s interview:

• Keeping his W-2 while acquiring companies
• Mistakes he made during diligence
• Revamping service offerings
• Looking for “diamond in the rough” leaders
• Expanding from air duct cleaning into HVAC
• His fetal position moment
• Being ghosted by his bank
• Buying a business while expecting a baby
• Advantage of selling directly to consumers
• Drawing from his training in the U.S. Marines

References and how to contact Dominick:

• LinkedIn
• Twitter
• Air ASAP
• Winning Moves by Dan Cremons

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• SBA Lender Roundtable: State of the Market - https://bit.ly/4eTZ8Yn

• Due Diligence Office Hours - https://bit.ly/3WbAs6h

• Search Investor Roundtable: State of the Market - https://bit.ly/4eVYDxc

• Purchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4bwcgQx

By doubling a $3m EBITDA business Juan Aguilar bought with traditional search fund terms, he is able to hold it forever.

Topics in Juan’s interview:

• Huge challenge of buying a business in Central America
• Buying a door manufacturer in Guatemala
• Implementing EOS
• Moving his focus from “how” to “who”
• Raising prices 25%
• Focusing on service, quality, and volume
• Finding a CEO to replace him
• Having a liquidity event without exiting the business
• Transitioning towards a permanent capital model
• Plan for a holdco

References and how to contact Juan:

• LinkedIn
• Paltus Capital

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/4eJqUXB

• Fri July 12 - Due Diligence Office Hours - https://bit.ly/3VPQf9p

We caution against thinking you can find it: 100% seller financing. But Renan Cortez did — and on a sizable business.

Topics in Renan’s interview:

• His background as an Army medic
• Learning about acquisition via Codie Sanchez
• Using a virtual assistant to search for a business
• Negotiating a 100% seller note
• Feeling motivated by philanthropy
• Spending too much money too fast after transition
• Getting a bridge loan to make payroll
• Rebranding the restoration company
• Raising capital for growth
• His large roll-up vision

References and how to contact Renan:

• LinkedIn
• Twitter
• Syndicate Building Solutions
• Syndicate Venture Group

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/3XSdIcG

• Fri July 12 - Due Diligence Office Hours - https://bit.ly/3W1zQA6

Garrison Snell enjoyed a modest exit at age 24. By 30, he'd parlayed that into a holdco with $9m EBITDA and a mission.

Topics in Garrison’s interview:

• Building and exiting a recording artist marketing agency
• His objective to do the most good for the most people
• Early ventures into real estate
• Buying and quickly selling a restaurant
• Acquiring in the manufacturing space
• Understanding and applying Porter’s 5 Forces
• Advantage of being a low-cost, essential supplier
• Recent leadership challenges at a new acquisition
• Building an indefinite holding company
• Power of a community-minded small business

References and how to contact Garrison:

• LinkedIn
• Twitter
• [email protected]
• Rafael Quinn’s episode
• Competitive Strategy by Michael E. Porter

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Once

• https://bit.ly/3KJnYwg

7 years ago Dan Verboski bought a sign business with $650k in earnings. He's doubled it, but ownership has taken a toll.

Topics in Dan’s interview:

• Background in the Marines and retail
• Buying a sign company in Tyler, Texas
• Culture clashes and problem employees
• Selling off his real estate to keep the business going
• How he learned to fire faster
• Building a new company culture
• Making personal changes to recover from burnout
• Standing out by answering the phone
• What he would do differently next time
• His growth as a leader

References and how to contact Dan:

• LinkedIn
• Twitter
• Leon’s Signs Inc.
• ETA Circle in Houston, where Dan will be appearing on July 10th

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Once

• https://bit.ly/3KH9RaS

Will Smith has partnered with Niklas James & Max Lummis in a fund to invest in searcher & independent sponsor deals.

Topics in this episode:

• Why raise a fund?
• How a fund comes together
• What it was like to raise money from LPs for a blind pool
• Why a business might be great for a searcher but not an investor
• How different investors have different needs
• Why small acquisitions are hard for a fund to invest in
• Value of community in a fund
• Minds Capital’s process to assess deals
• Evaluating deal strengths systematically
• “Best deal of the month” filter

References and how to contact Niklas, Max and Will:

• Minds Capital (to learn more & submit a deal)
• Minds Capital page for investors
• Max Lummis
• Niklas James
• Will Smith

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Once

• https://bit.ly/3Rto4Mc

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Get Remediation Company CIM - Request the NDA to get the CIM of the Midwestern niche remediation company.

• https://bit.ly/45spnAI

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Before acquiring a commercial painting business doing around $2m, Colin Gates worked on a crew as one of its painters.

Topics in Colin's interview:

• Aggressively saving while working in private equity
• Recurring revenue is BS
• Don’t sweat getting the perfect purchase price
• Working as a painter for a month before buying
• Managing prima donna employees
• His strategy of constantly bidding jobs and hiring 
• Putting in a project manager and a GM
• Why he stopped requiring deposits
• The seller staying on as an employee
• Importance of cash flow in keeping a business going

References and how to contact Colin:

• LinkedIn
• Twitter
• Mastercraft Coatings
• [email protected]

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, How to Buy a Business & Hire an Operator at Once

• https://bit.ly/3RuI018

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Get Remediation Company CIM - Request the NDA to get the CIM of the Midwestern niche remediation company.

• https://bit.ly/4b6rnjA

--

JD Beck transformed a small (and small-town) plumbing business, took it into a larger market, and tripled it in a year.

Topics in JD’s interview:

• Lessons learned from a failed deal
• Buying a tiny plumbing business
• Bringing operations into the 21st Century
• Learning from hiring mistakes
• Expanding through further acquisition
• Raising prices and employee pay
• Making sacrifices to run the business
• Competitive landscape in home services
• Home services pricing models
• Your reputation determines the talent you attract

References and how to contact JD:

• Ben Rizzo’s Episode
• Nick Patrick’s episode
• Twitter
• Mountain Valley Plumbing
• [email protected]
• LinkedIn

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Elliott Edge started as a searcher looking for a single business, then pivoted to a roll-up. He's 7 acquisitions in.

Topics in Elliot’s interview:

• His philosophy on submitting LOI’s
• Acquiring a managed service provider amidst Covid
• His wife’s role in the acquisition
• Value of an MBA in acquiring a business
• Quickly going remote when Covid hit
• Building trust with employees
• How soon and fast to make changes
• Creating more value through roll-ups
• Integrating new acquisitions into the roll-up
• His belief in continuous change

References and how to contact Elliot:

• Recording of the The Anatomy of an LOI webinar with Sam Rosati
• LinkedIn
• Velonex Technologies

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)

• https://bit.ly/3VeWF1B

Matt Pohl & his wife bought a small welding business with extreme key person risk. They 4x'd the business in 2 years.

Topics in Matt’s interview:

• Starting, growing and selling his own business
• Acquiring a welding business with his wife
• Learning how to hire welders
• The difficulties of hiring through a staffing agency
• Transient nature of welders
• Growing while maintaining margins
• Stress of running a business
• Comparing zero-to-one to acquisition
• Cashflow management in a project-based business
• Using ReWild’s methods to grow the business

References and how to contact Guest:

• [email protected]
• LinkedIn
• The Rewild Group

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)

• https://bit.ly/3yCQaOw

Despite having no experience in manufacturing, Jens Grudno jumped when he heard about a failing straight-razor business.

Topics in Jens’s interview:

• Buying a bankrupt razor manufacturer
• Embracing risk in German business culture
• Cleaning out and moving a 116-year old business
• Another company poaching their clients
• Pitfalls to avoid when buying a business
• Developing a new, innovative product
• Operating a company six hours from home
• Comparing start-ups to acquisition
• Value of going where there's less competition
• The craft of manufacturing

References and how to contact Jens:

• [email protected]
• LinkedIn
• Twitter
• DOVO Online

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Register for the Self-Funded Search Conference, September 13th - 15th in Dallas:

• Self-Funded Search Conference

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)

• https://bit.ly/4538koZ

Stephen Quindlen & Paul Westhart have found powerful multipliers that could yield huge returns in an unlikely industry.

Topics in Stephen and Paul’s interview:

• Acquiring auto repair shops
• Retaining talent by adding employee benefits
• Fleet vs. passenger car business
• Almost losing a foreman on day one
• Why they love the Mountain West
• Recruiting California workers to Idaho
• Innovative real estate and business acquisition strategy
• Offering quality service and strong warranties
• Executing the SBA 504’s Green Loan strategy
• Limitations of the SBA 7(a) loan for roll-ups

References and how to contact Stephen and Paul:

• Stephen Quindlen - LinkedIn
• Paul Westhart - LinkedIn
• [email protected]
• [email protected]
• Blue Wrench

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Register for the Self-Funded Search Conference, September 13th - 15th in Dallas:

• Self-Funded Search Conference

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Matt Drndak bought a parts business with a plan to grow it. It worked — he's doubled earnings. But it's taken patience.

Topics in Matt’s interview:

• Losing everything in the Great Recession
• His experience in franchises
• Buying an online store for construction equipment parts
• Leveraging service to stand out from competitors
• Determining the value of the inventory
• Serving customers with low computer literacy
• Non-mechanic buying a mechanical parts business
• Capturing the seller’s technical knowledge in YouTube videos
• Doubling revenue in 3 years
• Implementing EOS for future success

References and how to contact Matt:

• LinkedIn
• Twitter
• DHS Equipment

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Summary from Webflow: The first business Colin King bought was tiny & unpleasant but also the crucial first step to buying more & better ones.

Topics in Colin’s interview:

• Finding his first business (and business partner) on Craigslist
• Delivering auto parts in the middle of the night
• Buying a turnaround silk florals business
• When his clothing business doubled in revenue overnight
• Day-to-day logistics of running diverse businesses
• Acquiring remote businesses: bookkeeping and e-learning
• Importance of working capital in seasonal businesses
• Pros and cons of having a diverse portfolio of companies
• Asking advice for the future of his holdco
•  Finding and managing talent across diverse businesses

References and how to contact Colin:

• LinkedIn
• Twitter
• [email protected]
• Circle City Capital Group

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Cody Agee thought food testing would be a good recession-resistant business to buy. 2 weeks later, one listed for sale.

Topics in Cody interview:

• Bypassing business school
• Cashing out his 401(k) without using ROBS
• Buying a food safety and testing lab
• The moat of licensing requirements
• His advantage over much larger competitors
• Adjusting purchase price based on quality of earnings report
• Finding investors on Twitter
• Personally guaranteeing the seller note
• How he uses EBITDAR vs. EBITDA
• Putting in an enterprise resource planning (ERP) system

References and how to contact Cody:

• LinkedIn
• Twitter/X
• [email protected]
• Sierra Dairy Laboratory
• Dino Sawaya

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Jeff Homer bought a small local music school as a fun side hustle. It turned out to be the opportunity of a lifetime.

Topics in Jeff interview:

• Switching from high finance to music schools
• Buying his first music school as a side project
• Raising growth equity after first 2 acquisitions
• Acquiring a music school every month
• Artists’ negative predisposition toward selling
• Comparing profitability of music vs. dance
• Importance of general managers in scaling
• Implementing apps to streamline operations
• Other industries with roll-up potential
• Rolling up 60+ music/dance schools nationwide

References and how to contact Jeff:

• LinkedIn
• Ensemble Performing Arts

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Jarett Berke told his intermediary "no restaurants" but changed his tune when he saw what a great business Lou's was.

Topics in Jarett’s interview:

• Finding a business through an accountant
• Why restaurants are a tough business
• Comparing military service to running a restaurant
• Buying a restaurant with exceptional margins
• Learning every job in the restaurant
• Pivoting to delivery during Covid
• Doing a stock deal instead of an asset purchase
• Reinvesting by adding tables and renovating
• 60% growth in 6 years
• What he likes about the restaurant business

References and how to contact Jarett:

• LinkedIn
• Lou’s Restaurant
• [email protected]

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Scott Walton bought 2 barely-profitable blue collar companies, changed the culture, unlocked growth & hired a president.

Topics in Scott’s interview:

• Acquiring with a partner
• Solving their recruitment problem
• Doubling revenue in 18 months
• His 3-step LOI strategy
• Incentivizing good customer service
• Improving their company culture
• Challenges after acquisition
• Financing without the SBA
• Creative deal structuring
• His thoughts on buying small

References and how to contact Scott:

• LinkedIn
• [email protected]
• Home Service Expert Podcast

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

4 acquisitions, 3 years after the first deal, and 2 dishonest sellers before Chandra Rao went full-time in his holdco.

Topics in Chandra’s interview:

• Learning from due diligence mistakes
• Losing $300k in the first year
• Challenges with payment terms and working capital
• True value of a seller note
• One of his partners embezzled from the companyFppp
• Choosing a conventional loan over SBA
• The electrical contracting and fiber optic cabling businesses
• 6x growth in 4 years
• Juggling a roll-up and a W-2
• A seller who committed fraud

References and how to contact Guest:

• LinkedIn
• [email protected]
• Miller Utilities

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Zach Smith bought a 30-year-old membership business that connects patients with dentists to return it to former glory.

Topics in Zach’s interview:

• His exit from Uber
• Difficulty of starting a marketplace business
• When spreadsheets meet reality
• Buying a shrinking business
• Going with a stock sale instead of asset sale
• Current problems with dental insurance plans
• How American Dental Care differs from insurance
• The view from the bottom of the J curve
• His plan to grow all sides of the marketplace
• Forgoing an SBA/bank loan

References and how to contact Zach:

• LinkedIn
• Twitter
• American Dental Care

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Most first-timers shy away from buying across borders. Not Christi Loucks, whose Canadian acquisition did $550k of SDE.

Topics in Christi’s interview:

• Buying a business for personal fulfillment
• Painful broken deals
• Challenges of buying a cross-border business in Canada
• The positive role emotions play in dealmaking
• Losing (and regaining) 55% of her clients after transition
• The line between cold outreach and spam
• Constant change in the tech industry
• Unexpected expenses after transition
• Planning for her maternity leave
• Her husband’s return to a corporate job

References and how to contact Christi:

• LinkedIn
• Revenue Accelerator
• Neil Bearden

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Garth Fasano searched part time for 5 years before finding a target with very sticky revenue & great business-buyer fit.

Topics in Garth’s interview:

• Searching for 5 years
• Benefiting from the SBA looking at calendar-year financials (not TTM)
• Top Dog’s unique business model
• Why this business should be bought, not built
• His relationship to a dog training franchise
• Impact of outcome-based pricing  
• Purposely hiring less-experienced sales people
• How Top Dog differs from online marketing
• Expanding to industries outside of dog training
• His passion project: ski huts

References and how to contact Garth:

• [email protected]
• LinkedIn
• Top Dog Sales Center

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Robert Graham & Aaron Blick's first acquisition did $1.2m SDE. Four years later, their roll-up generates $15m in EBITDA.

Topics in Robert & Aaron’s interview:

• Going from lifelong friends to business partners
• Impact of private equity on industry roll-ups
• Running their companies remotely
• A competing business poaching employees
• Financial shocks after taking ownership
• Why they believe in buying big
• Necessity of hiring presidents to operate their businesses
• Company presidents guaranteeing the SBA loan
• Blending SBA loans with a roll-up model
• How buyer-seller power dynamics shift after purchase

References and how to contact Robert & Aaron:

• Episode #149 Home Care Business: How to Buy and 2x an Agency
• Episode #218 Taking the Plunge into Extreme Ownership
• Robert Graham LinkedIn
• Aaron Blick LinkedIn
• Robert Graham Twitter
• Pillar Health Group
• SIG Partners

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

John Murphy pushed through divorce, $500k debt, and a bad broken deal to finally buy a 60-year-old business doing $8m.

Topics in John’s interview:

• Losing a deal one week before closing
• Value of peer groups
• How real estate compares to business ownership
• Taking over a company before the deal closed
• Unforseen transition expenses
• Carl Allen’s business buying course
• Leaving his W-2 to search for a business
• Value of joining industry associations
• Restructuring his workforce to increase margins
• Buying a company with a management layer

References and how to contact John:

• LinkedIn
• Dave Cole Decorators
• [email protected]

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Reid Tileston bought a business that relied on $800k trucks, capex he came to love for the fat margins they produced.

Topics in Reid’s interview:

• Working on the business instead of in it
• Writing a book about acquisition
• People are the worst and best part of business
• Power of feedback and relationships for business owners
• The company’s slow temp-to-hire process
• Getting his CDL to be hands-on 
• Moving paper processes to the cloud
• Pros and cons of an Employee Stock Ownership Program
• Personally testing field service management tech
• Risks of informing employees of a business sale

References and how to contact Reid:

• LinkedIn
• Twitter
• Grit It Done by Reid Tileston

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Rafael Quinn shares the story & principles behind buying 3 businesses in Panama then raising $28m to buy more in the US.

Topics in Rafael's interview:

• Selling everything on Craigslist to move to Panama
• Buying his first business Panama from a billboard ad
• How to buy a business with an operator
• How he decided to build a holdco
• Self-identity as investor vs. entrepreneur
• 3-year dry spell not buying any businesses
• Being in "search mode" your whole career
• Breaking his own rule by buying a restaurant
• Why he turned his sights to the US
• How to raise $28m & structure a holdco
• Why buy a furniture retailer

References and how to contact Guest:

• Twitter
• LinkedIn
• Athens Pizza
• Hickory Park
• Alternative Holdings

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

The construction services business Christian Bateson bought will do $7.5m in 2024. It also rescued him from the depths.

Topics in Christian’s interview:

• His front row seat to the 2008 financial crisis
• Qualities of a top salesperson
• Business acquisition as a way out of a miserable career
• Shopping around for an SBA loan
• Choosing to play to his strengths and outsource his weaknesses
• Difficulty in hiring for construction
• Bouncing back and growing after Covid losses
• Red flags he ignored when acquiring his second business
• How his finance background benefited him
• His $100 million goal

References and how to contact Christian:

• LinkedIn
• Resolute Services

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Patrick Norris bought a small trash business doing $625k. Five years later and 4.5x bigger, a strategic got interested.

Topics in Patrick’s interview:

• Why acquiring a trash business is easier than starting one
• Intricacies of trash disposal pricing
• Niches within trash services
• Competition and cooperation in trash services
• The first question you should ask when considering a trash business
• Why he regrets not hiring a manager
• Hiring for dangerous, strenuous jobs
• 4xing revenue through customer service and Google ads
• The cycle of building and selling a trash business
• Buying a business without an MBA

References and how to contact Patrick:

• LinkedIn

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Only after Matt Jackson bought a roofing business in the hurricane state did he realize just how big the opportunity is.

Topics in Matt’s interview:

• His experience with Acquira
• Keeping the seller as an employee
• Why he likes roofing despite drawbacks
• How he satisfied his licensing requirement
• Moats around spray foam roofing
• Standing out in the roofing industry
• His vision for organic growth
• How insurance companies drive demand for new roofs
• Using ROBS for financing
• Why he won’t buy the ROBS ownership interest back from his 401k

References and how to contact Matt:

• [email protected]
• LinkedIn
• USI Roofing
• The MLS-style site with for-sale businesses in Florida

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

At age 63, Maurice Thomas wasn't ready to retire, so he bought an electrical contractor with $1m in earnings instead.

Topics in Maurice’s interview:

• Buying a business after age 60
• Learning the right amount of diligence to do before submitting an LOI
• Importance of a target statement for searchers
• His values-first approach to business
• Importance for searchers to “know thyself”
• Politics and religion in the workplace
• Gratifying work of coaching employees
• His succession plan
• Challenge of hiring lead electricians
• Creating incentives that align with company goals

References and how to contact Maurice:

• LinkedIn
• [email protected]
• Main Line Electrical

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

How Andrew Stordeur bought a 25-year-old furniture manufacturer in Alberta without having to use any of his own capital.

Topics in Andrew’s interview:

• Taking a startup to an IPO
• Competition in the wood furniture space
• Financing without the SBA
• Advice for Canadian searchers
• Getting a 35% seller note
• His 100% financed deal
• His plan to increase direct-to-consumer sales
• Being the sole breadwinner for a family of 6
• Deciding not to buy with a partner
• How his company ships faster than Amazon

References and how to contact Andrew:

• LinkedIn
• Twitter
• All Things Cedar
• Village Wellth

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, Working Capital 101

• https://bit.ly/3IGEZWQ

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Stephen Olmon & Collin Trimble set out to roll up the alarm industry in Texas. Alarm Masters is their first acquisition.

Topics in Stephen and Collin’s interview:

• All about the alarm, fire, & security industry
• Their roll-up strategy
• Moats in the form of risk and licensing requirements
• Valuation based on monthly recurring revenue
• Educating their lenders on industry practices
• Using a holdback to mitigate attrition risk
• Choosing to offer both installation and service
• The supply of technicians in this industry
• The value of Collin’s sales skills
• Strategic questions they asked during due diligence

References and how to contact Stephen and Collin:

• Stephen Olmon Twitter
• Stephen Olmon LinkedIn
• Collin Trimble Twitter
• Collin Trimble LinkedIn
• Alarm Masters

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, Working Capital 101

• https://bit.ly/3veZaYP

Alan Lochridge left a career in consulting to buy a 20-year-old $5.5m hardscaping contractor with strong fundamentals.

Topics in Alan’s interview:

• Years of searching before acquiring
• Understanding the ROBS financing strategy
• Reiterating company values weekly
• His day-to-day role as owner
• Restructuring to do more with fewer people
• Embracing digital marketing and CRM tools
• Why he’s so comfortable with project-based revenue
• Advantage of a negative cash conversion cycle
• Pros and cons of using subcontractors
• Getting his general contractor’s license

References and how to contact Alan:

• LinkedIn
• [email protected]
• The Stone Man

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, Working Capital 101

• https://bit.ly/3IFObuB

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Despite an overwhelming transition, today Dan Tagliatela has 17x'd his initial investment and delegated the day-to-day.

Topics in Dan’s interview:

• His background in investing
• What margins indicate about a business
• Return on assets as a quality metric
• Acquiring a pavement sealing company
• Geographic density advantage of the business
• His goal to double volume over 10 years
• Replacing the antiquated robocall machine
• Stress of learning and upgrading at the same time
• Buying a window cleaning company
• The Goldilocks approach to management

References and how to contact Dan:

• LinkedIn
• Competitive Strategy by Michael Porter
• Competitive Advantage by Michael Porter

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

John Wilson bought & grew a very small plumbing business 26x over the last 7 years, and today has plans to reach $100m.

Topics in John’s interview:

• Growing up in his family’s home services business
• Taking over the business at 23
• Acquiring a turnaround to grow his business
• His first time doing layoffs
• Using CertainPath’s model to grow
• Tripling his ad spend during Covid
• Why he believes in buying small
• His take on installing an operator
• His plan to get to $100M
• The taxonomy of blue collar businesses

References and how to contact John:

• Owned and Operated (his podcast)
• The Wilson Companies
• Twitter
• John’s tweet thread breaking down homes services business
• CertainPath