Acquiring Minds

Register for the webinar:

• Deal Structuring Under the New SBA Rules - Thu May 8 - https://bit.ly/4m7VH47

Marvin Karlow & his partner bought a powder-coating business with $500k in equity. 8 years later, they exited.

Topics in Marvin’s interview:

• Going from corporate to blue collar business
• Buying a business with his best friend
• Picking a lane and staying in it
• Biggest customer slashing prices right after transition
• Putting personal money into the business
• Losing a major customer
• The customer that turned it all around
• Buying 2 turnarounds
• Merging and exiting the businesses
• Tax savings through QSBS

References and how to contact Marvin:

• LinkedIn
• [email protected]
• Raincatcher
• Steve Mariani

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact [email protected]

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• 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

Connect with Acquiring Minds:

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

Edited by Anton Rohozov
Produced by Pam Cameron

Register for the webinar: 

• Anatomy of a Franchise Holdco - Thu May 1 - https://bit.ly/4jreo0U

Dan Angel knew he wanted to buy this B2B travel company with $3m top line. But the sale would shock the key number-two.

Topics in Dan Angel’s interview:

• Leaving his dream career at a hedge fund
• Coming in a little too hot as the new owner
• Adding 3 offshore employees
• Growth isn’t free
• Running a fully remote team
• Trying to change the world by 9:00 am

Topics in Jayme Moylan’s interview:

• Her 15 years working for Lodging Source
• Being blindsided by the acquisition
• Uncertainty over who to answer to while the seller was still there
• Figuring out how to interact with Dan

References and how to contact Dan and Jayme:

• Dan Angel LinkedIn
• Jayme Moylan LinkedIn
• Lodging Source
• Self-Funded Search vs Traditional Search Funds
• Sam Rosati on Acquiring Minds discussing Big 3, Little 2: How to Shorten Your Search to Buy a Business
• Chris Williams on Acquiring Minds: System Six: One Year Update

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

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

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

Edited by Anton Rohozov
Produced by Pam Cameron

Register for the webinar: 

• Anatomy of a Franchise Holdco - Thu May 1 - https://bit.ly/4k8HKBd

Jan Roll bought a $6m residential contractor, a harrowing experience he calls one giant ambiguous ball of figure-it-out.

Topics in Jan's interview:

• Contracting means learning 25-30 trades
• Margin of safety in a residential construction business
• Value of paying vendors immediately
• Engendering trust in a low-trust industry
• Revenues dropping 25% in first year of ownership
• Using ROBS to buy the business
• Pitfalls in contractor licensing
• The harm in not having an employee agreement with a business partner
• How to diligence a business partner (or can you?)
• How SEO & digital marketing supercharged leads

References and how to contact Jan:

• LinkedIn
• Victoria Renovations

Get a complimentary IT audit of your target business:

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

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact [email protected]

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• 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

Edited by Anton Rohozov
Produced by Pam Cameron

Register for the webinar:

• Anatomy of a Franchise Holdco - Thu May 1st - https://bit.ly/3RWj0Qh

In 2019, Matt Kopp bought a supplier to elementary schools with $350k SDE. 6 years later, he has a portfolio of them.

Topics in Matt’s interview:

• Business buying market in Australia
• Eliminating interruptions at work
• Tracking email open rates to improve his outreach
• Buying a science class supplier
• Challenge of selling to schools without a relationship 
• Overcoming people problems during transition
• Weathering Covid lockdowns
• Forming an education holdco
• Beating out private equity for his last acquisition 
• Selling to private equity after growing the business

References and how to contact Matt:

• LinkedIn
• Simon Plummer on Acquiring Minds: From Frustrated Searcher to $3.5m Owner to Holdco Builder
• Pete Seligman on Acquiring Minds: Making a Career of Buying Businesses
• Enduring Investment Partners
• Southern Biological
• Hands on Science
• Junior Rockers
• Primary Music Institute

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

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact [email protected]

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

• 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

Edited by Anton Rohozov
Produced by Pam Cameron

Register for the webinar:

• Should You Buy a Business? A Live Panel with Lab Members - Wed Apr 23rd - https://bit.ly/3EBvXvN

Joe Ziolkowski found the deal of a lifetime — a $10m manufacturing business — by expanding his filters on BizBuySell.

Topics in Joe’s interview:

• Investing with a friend in real estate
• Backing out of a Mr. Rooter deal
• Acquiring a restoration business
• Dealing with insurance in restoration
• Making a bad operations hire
• Selling the business at a profit after 6 months
• Acquiring a wood veneer manufacturing company
• Getting a great deal on both businesses
• Seller’s daughter staying on as VP
• Why it’s impossible to start a wood veneer business

References and how to contact Joe:

• LinkedIn
• [email protected]
• Woodland Face

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• 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 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

Edited by Anton Rohozov
Produced by Pam Cameron

Register for the webinar:

• Licenses & Regulatory Issues in Acquisitions - Thu April 17th - https://bit.ly/4i7vsY5

With 300 employees across 5 companies, the holdco that Chris Fredericks is building has an uncommon feature at its core.

Topics in Chris’s interview:

• What is an Employee Stock Ownership Program (ESOP)?
• Finding purpose and meaning at work
• Concept of dignity at work
• What ESOP employees do and don’t vote on
• Using an internal podcast to communicate about employee ownership
• Mitigating risks in ESOPs
• Employee reactions to being acquired
• Selling employees on the ESOP concept
• His role as investor, not operator
• Keeping a bad hire for too long

References and how to contact Chris:

• LinkedIn
• Empowered Ventures
• The Empowered Owners Podcast
• The Great Game of Business

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

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

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact [email protected]

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

• Book a call with Tim or [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

Edited by Anton Rohozov
Produced by Pam Cameron

Register for the webinar:

• Licenses & Regulatory Issues in Acquisitions - Thu April 17th - https://bit.ly/3G9vf9F

Adam Goldberg had to adapt his corporate approach after buying a nearly-closed manufacturer whose sales were down 80%.

Topics in Adam’s interview:

• Building & exiting a wholesale costume jewelry business
• Deciding he was too young to retire
• Acquiring a small, distressed candle business
• Never go into business with friends
• Mistakes in over-hiring
• Trying to be an absentee owner
• Apologizing to his team
• Why he prefers small business to corporate
• Expanding beyond candles
• Carving out their brand story

References and how to contact Adam:

• LinkedIn
• Seracon

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

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

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

• Oberle Risk Strategies - Search Fund Team

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• 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

Edited by Anton Rohozov
Produced by Pam Cameron

Register for the webinar: 

• 5 Stages of the Business Buying Process - Fri Apr 11 - https://bit.ly/4ljGigo

Keegan Dum wound down his search fund after 2 years without a deal, but he went on to acquire & create a great outcome. 

Topics in Keegan’s interview:

• Choosing traditional search
• No deal after 2 years of searching
• Selling the business after 18 months
• Finding a business on his own through consulting
• Role of software in car washes & auto shops
• Renegotiating terms with previous investors
• Low churn for you means low churn for your competitors
• The “always on” nature of running an essential business
• Spreadsheet vs reality of operating the business
• Profitable exit after 18 months

References and how to contact Keegan:

• LinkedIn
• Matt Bauer & Chris Hartman on Acquiring Minds: Exited but Tired: 5 Years in a Hard Business 

Get a complimentary IT audit of your target business:

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

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact [email protected]

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

• Oberle Risk Strategies - Search Fund Team

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

• 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

Edited by Anton Rohozov
Produced by Pam Cameron

Register for the webinar: 

• 5 Stages of the Business Buying Process - Fri Apr 11 - https://bit.ly/4ji2UMu

Ken Eyjolfson looked at tons of businesses before deciding on a mattress outlet with $500k SDE and 700 5-star reviews. 

Topics in Ken’s interview:

• 8 years with the Soccer Shots franchise
• Spending too long searching for the perfect deal
• Buying a discount mattress retailer
• How the Canadian mattress industry works
• Buying from a “shady seller”
• Getting the lowest wholesale mattress prices
• Starting with a large Facebook following
• Expanding through pop-up shops
• Private equity acquiring mattress companies
• Financing without the SBA

References and how to contact Ken:

• [email protected]
• LinkedIn
• Mr. Liquidator
• Built to Sell by John Warrillow
• Seller’s reality TV show The Liquidator

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

• Book a call with Tim or [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 loan team focused exclusively on helping entrepreneurs buy businesses:

• Pioneer Capital Advisory

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

• 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

Edited by Anton Rohozov
Produced by Pam Cameron

Register for the webinar:

• 5 Steps to the Business Buying Process - Thu April 10th - https://bit.ly/41RC4oN

After his foray into SMB ownership went well with FedEx routes, Matt O'Brien bought & doubled a $2.5m fencing business. 

Topics in Matt’s interview:

• Buying and expanding FedEx routes
• Nuances of buying a FedEx route
• Selling his routes at peak value during Covid
• Acquiring a commercial fencing business
• Keeping the seller’s son on as president
• Injecting more money for working capital
• Impact of equipment on debt
• Trucking acquisition that failed
• Where he finds high quality employees
• Private equity in the fencing industry

References and how to contact Matt:

• LinkedIn
• Professional Fence Co.
• Chris Edwards on Acquiring Minds: Buy, Grow, Exit for a 24x Return in 3.5 Years
• Brett Kennedy on Acquiring Minds: Reflections on 2 Years in the Knife Fight
• Sam Rosati on Acquiring Minds: How to Become an Independent Sponsor

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

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact [email protected]

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

• 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

Edited by Anton Rohozov
Produced by Pam Cameron