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In this powerful and deeply candid conversation, I sat down with Mark Heston, who first appeared on Episode 51 to share his story of buying and rebuilding an aerospace machine shop specializing in landing-gear components. At that time, the business was on an upward trajectory — improving culture, repricing work, and investing in growth. But behind the scenes, hidden challenges were forming that would ultimately lead to an unexpected and difficult ending.
In this follow-up episode, Mark opens up about what happened next—the liquidity crisis, the missteps in financial due diligence, and the sequence of events that forced him and his partners to file for bankruptcy and sell the company through a Chapter 11 restructuring. He speaks with transparency about what went wrong, what he learned, and what he wishes every buyer, seller, and operator in manufacturing would know before it’s too late.
Together, we explore critical lessons in capitalization, cash-flow management, financial literacy, and the danger of relying on inaccurate numbers. Mark emphasizes the difference between profitability and liquidity—how a shop can look successful on paper but suffocate in reality when cash conversion cycles stretch too far. He also shares why “trust but verify” should be every acquirer’s mantra when reviewing a seller’s books.
This is not a story of failure. It’s a story of brutal honesty, hard-earned wisdom, and resilience. For anyone buying, running, or selling a machine shop, this episode is required listening. It’s a reminder that the toughest conversations often teach the most valuable lessons.
You will want to hear this episode if you are interested in...Subscribe to Machine Shop Mastery on
Apple, Spotify
Audio Production and Show Notes by - PODCAST FAST TRACK
4.8
3030 ratings
In this powerful and deeply candid conversation, I sat down with Mark Heston, who first appeared on Episode 51 to share his story of buying and rebuilding an aerospace machine shop specializing in landing-gear components. At that time, the business was on an upward trajectory — improving culture, repricing work, and investing in growth. But behind the scenes, hidden challenges were forming that would ultimately lead to an unexpected and difficult ending.
In this follow-up episode, Mark opens up about what happened next—the liquidity crisis, the missteps in financial due diligence, and the sequence of events that forced him and his partners to file for bankruptcy and sell the company through a Chapter 11 restructuring. He speaks with transparency about what went wrong, what he learned, and what he wishes every buyer, seller, and operator in manufacturing would know before it’s too late.
Together, we explore critical lessons in capitalization, cash-flow management, financial literacy, and the danger of relying on inaccurate numbers. Mark emphasizes the difference between profitability and liquidity—how a shop can look successful on paper but suffocate in reality when cash conversion cycles stretch too far. He also shares why “trust but verify” should be every acquirer’s mantra when reviewing a seller’s books.
This is not a story of failure. It’s a story of brutal honesty, hard-earned wisdom, and resilience. For anyone buying, running, or selling a machine shop, this episode is required listening. It’s a reminder that the toughest conversations often teach the most valuable lessons.
You will want to hear this episode if you are interested in...Subscribe to Machine Shop Mastery on
Apple, Spotify
Audio Production and Show Notes by - PODCAST FAST TRACK
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